综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

   

Mid-year launch of index futures unlikely

(Shanghai Daily)
Updated: 2007-05-09 14:54

China is not expected to meet a mid-year deadline to unveil its pilot stock-index futures because preparations for its launch are complicated and on concerns of a sudden stock slump, sources said yesterday.

The stock market regulator is still working on rules governing the trading of the derivative and launching nationwide programs to educate brokers and institutional investors about the business, said people familiar with the matter.

Preparations for the launch may extend for another few months and it's almost impossible for authorities to push forward the financial futures by the end of next month, the sources said.

Fan Fuchun, vice chairman of the China Securities Regulatory Commission (CSRC), said in March that the regulator had been striving to wrap up preparations for the index futures by the first half of the year. A CSRC official declined to comment yesterday.

"Although we've applied for a license to trade index futures, we were told to wait and learn more about potential risks," said an executive at a Shanghai-based broker. "We have yet to gain a clear timetable from the regulator about the product's launch."

The Securities Association of China said yesterday it would organize training courses on index futures trading for brokerages as well as fund managers this month and in June in Shanghai, Beijing and Shenzhen in Guangdong Province.

The move showed that "regulators are still worried over possible negative consequences of introducing the financial derivatives in a hurry," said a fund source briefed on the situation.

Other concerns that could delay the derivative's debut include a possible crash in the booming stock market as investors become more jittery over wider volatility and potential speculative activities.

Chinese equities have more than tripled their value since the start of 2006 as investors become agog over a market rally after four years' of losses and slumps. The benchmark Shanghai Composite Index hit an all-time record yesterday and is near the psychological 4,000-point level.

"The regulator hopes to launch the futures when the market shows signs of steady growth and investors tend to be more rational," said the fund source. "They don't want the product's launch to be used as a selling excuse and trigger a sell-off."

Chinese authorities have been preparing since late last year for the launch of several futures contracts which are set to track a gauge covering the top 300 listed firms in Shanghai and Shenzhen.


(For more biz stories, please visit Industry Updates)



Related Stories  
津南区| 扎赉特旗| 延津县| 宜宾县| 鹤山市| 岱山县| 垣曲县| 通渭县| 务川| 射洪县| 江都市| 蒙阴县| 盐亭县| 射洪县| 甘肃省| 东莞市| 十堰市| 垦利县| 宁乡县| 且末县| 车险| 长治县| 昌乐县| 泰和县| 启东市| 耒阳市| 隆化县| 南部县| 盐亭县| 丰宁| 榆中县| 和田县| 成都市| 临安市| 舞钢市| 星子县| 芮城县| 新竹县| 苗栗市| 定边县| 镇江市|