三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

US EUROPE AFRICA ASIA 中文
Business / Markets

Stocks shoot to seven-year high but volatility remains

(Agencies/chinadaily.com.cn) Updated: 2015-06-05 15:39

Stocks shoot to seven-year high but volatility remains

An investor pays close attention on the stock market at a securities brokerage in Hangzhou city, Zhejiang province, June?5, 2015. [Photo/IC]

China stocks remained volatile on Friday, with the Shanghai benchmark gaining 1.54 percent to close at a seven-year high of 5023.10 points, after shooting above the key psychological level at the opening but then shedding all gains by midday.

Shenzhen's ChiNext index, bellwether of the recent bull run, lost more over 1 percent, with investors becoming increasingly cautious about the growth market.

The Shanghai Composite Index opened above 5,000 points - a key technical resistance level - but ended the morning 0.1 percent lower, at 4,941.01 points. The CSI300 index fell 0.6 percent to 5,148.95 points.

Hong Kong stocks also fell.

High volatility has become a pattern in China's highly-leveraged market, traders said.

On Thursday, before a dramatic V-shaped turnaround, nearly $550 billion of market capitalization had been wiped out.

"It's no longer a market where you can go up and up, with no resistance," said David Dai, Shanghai-based investment director at Nanhai Fund Management Co Ltd.

He said his fund has cut exposure to ChiNext, which trades at 140 times earnings, and is increasing positions in cheaper blue-chips.

The Shenzhen market has caught the attention of Bill Gross, erstwhile Pacific Investment Management Co bond king and now portfolio manager of the Janus Global Unconstrained Bond Fund.

He said in his Twitter account on Wednesday that China's Shenzhen market would be the next "short of a lifetime", but "not just yet."

There are signs the Chinese government is rushing to take advantage of high stock valuations in the stock market.

Premier Li Keqiang said the government would promote domestic listings of start-up firms, while a growing number of Chinese tech companies firms have fallen out of love with America, as they look to drop their listings in New York and head back home.

"We're seeing higher risks in small-cap stocks," said Zhang Chen, analyst at Shanghai hedge fund manager Hongyi Investment.

"But many bluechip companies have attractive valuations. They may take up the baton and lead indexes higher."

Investors are waiting for index publisher MSCI's decision next week on including China A shares in its Emerging Markets index.

HSBC said including China A-shares in global benchmark indices would have huge repercussions, and potentially spur index inflows of billions of dollars.

On Friday, China's banking index lost nearly 3 percent as investors took profit, while real estate stocks were firmer.

The Hang Seng index dropped 0.9 percent at 15:17 local time, to 27,304 points, and the Hong Kong China Enterprises Index lost 1.24 percent, to 13,952.

He Yini contributed to the story.

 

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 黄色免费在线网址 | 青青青青手机在线视频观看国产 | 毛片在线播放a | 综合色图片 | 国产小视频国产精品 | 精品欧美日韩一区二区 | 9191亚洲高清国产 | 国内精品视频一区二区三区 | 成人午夜看片 | 精品久久久久国产免费 | 国内一区二区三区精品视频 | 播放中国女人毛片一级带 | 精品免费久久 | 在线观看免费视频网站色 | 亚洲一区黄色 | 成年人网站在线观看免费 | 制服丝袜中文字幕在线 | 亚洲精品一区二区不卡 | 91精品国产视频 | 丁香五月好婷婷深深爱 | 99综合网| 伊人久久久综在合线久久在播 | 在线视频国产网址你懂的在线视频 | a级片黄色片| 欧美一级黄色毛片 | 久久精品亚洲综合一品 | 8050午夜一级全黄毛片 | 国产美女挤奶水在线观看 | 欧美草逼网站 | 日韩不卡手机视频在线观看 | 免费在线观看一级毛片 | 国产一区二区视频在线播放 | 亚洲国产成人久久精品hezyo | 特级一级毛片免费看 | 人妖与黑人做爰 | 欧美日韩国产在线播放 | 96国产精品 | 91网站视频在线观看 | 国产成人精品男人的天堂网站 | 91青青国产在线观看免费 | 99久久精品国产麻豆 |