国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Markets

Stocks plunge to three-month low despite liquidity support

By Dai Tian (chinadaily.com.cn) Updated: 2015-07-08 16:21

Stocks plunge to three-month low despite liquidity support

The benchmark Shanghai Composite Index dived 5.9 percent to close at 3,507.19, while the Shenzhen Component Index closed at 11,040.89, down 2.9 percent. The CSI 300 gauge dipped 6.8 percent. [Photo/IC]

Stocks dived for a fourth time over the past week to three-month low, as central bank's vow of liquidity support failed to restore market faith.

The benchmark Shanghai Composite Index dived 5.9 percent to close at 3,507.19, while the Shenzhen Component Index closed at 11,040.89, down 2.9 percent. The CSI 300 gauge dipped 6.8 percent.

Nearly all sectors, ranging from Internet to healthcare, from food beverage to real estate, tumbled on Wednesday, with about 1,000 stocks declining to a daily halt.

Stocks that slumped by 10 percent include the markets' blue-chips Sinopec, Bank of Communications, Haitong Securities and CITIC Securities.

The combined daily turnover reached 1.1 trillion yuan, as data from Shanghai exchange showed the outstanding balance of margin trading fell by a record of 98.3 billion yuan to 1.05 trillion yuan.

Propping up measures

Minutes after the Shanghai gauge slid 7 percent at the opening, the People's Bank of China announced it will provide "ample liquidity" to help stabilize the country's stock market.

The central bank will actively assist China Securities Finance Corp, a State-owned facilitating margin loan service among brokerages, to obtain ample liquidity through channels including loans and bonds, it said in an open statement.

"The PBOC will pay close attention to market moves and do whatever it can to prevent systemic risks."

It was the first time the central bank made voice since the rout, as the Shanghai gauge retreated more than 30 percent from its June 12 peak.

China's insurance regulator also vowed to join the authorities to stem the market plunge, by easing rules for insurance companies to invest in the stock market.

Qualified insurers will be allowed to invest 40 percent of their assets into equities, increasing from the previous 30 percent stipulation, said the China Insurance Regulatory Commission in a notice, to promote the stable and healthy development in the capital market.

China Financial Futures Exchange (CFFEX) announced on Wednesday that it will raise the margin requirements for sell orders on CSI 500 index futures to curb speculation.

Traders are asked to pay margin requirements equivalent to 20 percent of the contract value, starting from Wednesday's clearing, up from the previous 10 percent.

The margin requirement will be further elevated to 30 percent from Thursday.

The move came after CFFEX said on Monday night that it would limit investors' daily purchases of CSI 500 index futures to 1,200 lots for rise and fall.

The State Council ordered the suspension of new public offerings over the weekend to unleash liquidity, while brokerages and executives from 25 mutual funds as well as social security fund vowed to buy stocks.

Over one-third of the companies listed on the Shanghai and Shenzhen exchanges were suspended from trading.

Hot Topics

Editor's Picks
...
九江市| 济源市| 兰州市| 两当县| 房产| 酒泉市| 遂宁市| 吉首市| 宜丰县| 泊头市| 青海省| 焉耆| 修文县| 龙门县| 临江市| 旬阳县| 漯河市| 平泉县| 余庆县| 宝山区| 比如县| 闸北区| 拉萨市| 安图县| 巴塘县| 伊金霍洛旗| 前郭尔| 利津县| 千阳县| 辽阳市| 古丈县| 柞水县| 睢宁县| 谷城县| 宁陕县| 武安市| 永定县| 揭东县| 河曲县| 上杭县| 天等县|