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

   

Volatility in stock market expected

By Jin Jing (China Daily)
Updated: 2007-05-21 08:48

The central bank's renewed efforts to curb the inflow of speculative capital into the stock market are expected to create volatility in the short term, investment experts said.

The People's Bank of China announced a series of monetary and exchange rate policies on Friday amid worries the mainland stocks are surging to dangerous new highs.

The central bank raised banks' reserve ratio by 0.5 percentage point to 11.5 percent, effective June 5. It also raised the one-year deposit rates by 27 basis points and lending rates by 18 basis points.

The daily interbank trading band of the renminbi exchange rate against the US dollar is widened from 0.3 percent to 0.5 percent from today.

Economists and analysts, however, said the measures are too mild to cool down the market, which is flush with liquidity.

But they are expected to have a negative impact on market sentiment.

"We don't view any of these announcements as a significant policy adjustment. The first two are simply the latest in a long line of gradual moves aimed at keeping liquidity and real interest rates stable," said Jonathan Anderson, chief economist of UBS Asia.

"The current hike could also be seen as an attempt to send a mild message to the domestic equity market to cool down," he added.

"We expect the stock market to fall next week and if it proves resistant, Beijing could continue with many more follow-up moves," said Stephen Green, senior economist of Standard Chartered.

Chen Weiran at Guotai Jun'an Securities said the upward trend will continue in the near future, accompanied by great price volatility.

"The widening of the renminbi trading band is expected to raise investors' expectations of currency appreciation, which will attract inflows of capital," he said, adding that the interest rate hike will have a negative impact on banking and real estate stocks.

The hike follows comments from Zhou Xiaochuan, governor of the central bank, who reportedly said last Thursday that the government will consider using monetary policy and other instruments to maintain economic stability.

The government has also taken a series of measures to curb heated stock trading before the interest rate hike.

The China Securities Regulatory Commission recently renewed warnings to new investors about the high risks in the market and strengthened checks on irregular trading.

The China Banking Regulatory Commission eased restrictions on qualified domestic institutional investors, allowing commercial banks to invest in overseas stocks.


(For more biz stories, please visit Industry Updates)



Related Stories  
绥中县| 青铜峡市| 仪征市| 浮山县| 桦川县| 额敏县| 微山县| 岳阳市| 淮阳县| 兴隆县| 古丈县| 囊谦县| 永嘉县| 栾川县| 彭山县| 芦山县| 乐昌市| 许昌市| 淮阳县| 大足县| 惠东县| 西吉县| 遂溪县| 山东| 怀化市| 南皮县| 大余县| 清涧县| 乡宁县| 漯河市| 新昌县| 荔波县| 文化| 伊宁县| 青河县| 紫金县| 彰武县| 攀枝花市| 阳泉市| 辽阳县| 丹巴县|