Top Biz News

    Index futures likely to debut in March

    By Li Xiang (China Daily)
    Updated: 2010-01-06 08:04
    Large Medium Small

    Equities rose yesterday following reports that the regulator would introduce futures contracts on the country's stock indexes as early as March, with securities firms recording sharp gains.

    The benchmark Shanghai Composite Index rose 1.2 percent to close at 3,282.18. CITIC Securities gained 4.9 percent to 32.82 yuan while Everbright Securities hit the 10-percent daily trading limit to 27.24 yuan.

    Sources close to the securities regulator told China Daily yesterday that the new financial mechanism is ready to be launched, but did not give an exact date.

    Stock index futures are agreements to buy or sell an index at a preset value on an agreed date.

    Bloomberg reported yesterday that the State Council has given the China Securities Regulatory Commission approval "in principle" to introduce index futures and the first contract, based on China's CSI 300 Index, may begin trading after the annual National People's Congress in March.

    The new instrument would allow Chinese investors to profit from declines in share prices and hedge risks for the first time. It will also help curb volatility in a market that slumped nearly 65 percent in 2008 and rebounded over 80 percent last year.

    Analysts said while the new mechanism would trigger a bull rally in blue-chips and heavyweight shares, it could also lead to a possible correction.

    "Blue chips usually lead the gains prior to the launch of the index futures as they are the most sought-after stocks by institutional investors," said Liao Qing, an analyst with Sealand Securities.

    Related readings:
    Index futures likely to debut in March Equities rise on rumors of stock index futures
    Index futures likely to debut in March Chinese shares rise for third day on news of stock-index futures
    Index futures likely to debut in March China to introduce index futures at 'appropriate' time: regulator

    "But once the mechanism is in place, the market is likely to see a correction as investors would face pressures to sell," he said.

    It is expected that margin trading and short selling would also be launched soon as part of the preparations for introducing index futures.

    But Liao said it would be feasible to have index futures first as market rules and conditions are already ripe and the introduction of margin trading and short selling can wait till more detailed regulations are announced.

    "Details of margin trading and short selling are still not clear and the business is much more complicated than index futures as it involves each individual stock and securities firm," he said.

    Analysts feel that the new financial mechanism may not be open to qualified foreign institutional investors for now as the regulator intends to protect the interests of domestic investors first.

    久久亚洲av无码精品浪潮| 中文字幕无码第1页| 十八禁视频在线观看免费无码无遮挡骂过| 无码人妻精品一区二区| 亚洲日本中文字幕区| 国产精品无码一区二区在线| 成年无码av片完整版| 日韩久久久久中文字幕人妻| 亚洲一区二区无码偷拍| 国内精品人妻无码久久久影院| 中文字幕一区二区免费| 亚欧成人中文字幕一区| 五十路熟妇高熟无码视频| 久久久久无码精品国产不卡| 国产AⅤ无码专区亚洲AV| 玖玖资源站中文字幕在线| 日韩久久久久久中文人妻| 亚洲一本大道无码av天堂| 国产AV无码专区亚洲精品| 亚洲日产无码中文字幕| 日韩精品无码免费专区网站| 中文精品99久久国产| 最近更新中文字幕第一页| 波多野结衣中文字幕久久| 亚洲中文字幕日产乱码高清app| 亚洲 欧美 国产 日韩 中文字幕| 免费AV一区二区三区无码| 国产AV无码专区亚洲精品| 91精品国产综合久久四虎久久无码一级| 亚洲国产精品无码久久SM| 亚洲人成无码网站| 亚洲AV无码1区2区久久| 亚洲AV无码欧洲AV无码网站| 无码无套少妇毛多18PXXXX| 亚洲av激情无码专区在线播放 | 五月婷婷无码观看| 人妻少妇无码视频在线| 小泽玛丽无码视频一区 | 大地资源中文在线观看免费版| 中文字幕亚洲精品无码| 亚洲中文字幕无码久久2017 |