Since April 16 the official launch of stock index futures, A-share market falling trend emerged. The Shanghai index from the April 15 high of 3181.66 points all the way down to the May 18's 2529.63 points,bailey UGG boots, the biggest decline in more than 20% . What led to the A-share market this weak pattern?
attributed the decline in stock index futures to the head, which is the stock market era, in the help or feature, but it is not the determinants of stock market ups and downs, ups and downs of the stock market has its own intrinsic scale. look at other U.S. stock market, stock index futures Why is not there, why can the U.S. stock market rise?
, of course, macroeconomic policy implications that must be addressed, as some analysts suggest, the market interest rate expectations by the troubled introduction of stringent price control policies fall into the fuse for A shares. macro-policy implications is the objective exist, but this effect will depend on the size of the strength of the stock market itself. If the stock market is very strong, then the policy side of the negative impact is reduced. to raise interest rates, for example, it is recognized as an important factor in the current market troubles . but in fact the stock market by examining the impact of interest rate perspective,Discount UGG boots, is not very often negative, and even become an important factor in promoting the rally. can be seen, the stock market is not really afraid of raising interest rates, stock market, after all, there are many sources of funding as long as the stock market is money effect, there will be funds to the market. On the contrary, there is no money effect, funding is the real problem, is expected to raise interest rates this time will only bring trouble to the market.
affect the stock market movements The most fundamental reason is that the internal market. internal What? is the Chinese stock market is only a means for misappropriating city. China's stock market is to set up the original intention of financing services, and financing functions is the main function of the stock market, and investors interests are often Debu to protection. It is for the purpose of financing services for the Chinese stock market's institutional design, is to maximize funding for issuers (that is misappropriating) services. For example, from the set of non-tradable equity structure, to the present The IPO market-oriented pricing; refinancing from the original allotment, to the subsequent public offerings, private placement and then to now, all is based on maximizing the issuer for the purpose of misappropriating. Thus, we see that since the IPO last June to restart Since the IPO's price-earnings ratio,UGG shoes, are increasingly offering price, the issuer raised the phenomenon of more and more serious over. If the recent release of Haipu Rui, the issue price of up to 148 yuan, 73.27 times the earnings release, more than 50 super-raised funds billion IPO misappropriating become naked. and in order to achieve the purpose of misappropriating the issuer fraud, false statements sponsor, has become the color of new issues.
Correspondingly, this misappropriating city brought back to the stock market a huge tumor, that is the size of Africa. the blood on the stock market far more than the listed company or IPO. to Haipu Rui, for example, the company's IPO financing was 59 billion, while If the size of the company are at an issue price of non-cash, 53.3 billion yuan from the stock market blood. the stock market so reduced the size of the place of non-cash.
the one hand, the listed company of misappropriating huge pressure on the other hand also to bear the size of the non-steady flow of cash, even a giant Chinese stock market,UGGs, but also can not bear such a large scale blood, not to mention only a weak Chinese stock market of the body of it? Therefore, in the face and the size of the non-listed companies from crazy blood, the stock market there are other choices? pig then pig mm mm mm butcher butcher again, the Chinese stock market is cyclical.
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