男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

US EUROPE AFRICA ASIA 中文
Opinion / Editorials

Move to suspend faulty market stabilizer welcome

(China Daily) Updated: 2016-01-08 07:12

Move to suspend faulty market stabilizer welcome

An investor walks past an electronic display showing prices of shares at a brokerage house in Fuyang city, east China's Anhui province, Jan 6, 2016. [Photo/IC]

The securities authorities' decision on Thursday night to put the "circuit breaker" mechanism on hold-only four days after it was introduced-is commendable. It is never too late to correct wrongs, but lessons have to be learned so that policies of similar significance are devised more carefully.

Thursday's decision was made after trading on the Chinese mainland's stock market was halted for the second time this week, indicating the new stabilizer had failed to serve its purpose.

Domestic stock markets saw another 7 percent dive on Thursday morning, after a similar plunge on Monday, which halted trading for the rest of the day as the circuit breaker kicked in.

There are surely many reasons to explain the worries of investors: The falling value of the renminbi against the US dollar, China's declining manufacturing activities, Wall Street market falls and dimmer global growth prospects all justify concerns. But none of them seems to have weighed more heavily on investors than expectations of a possible glut of share sales as the half-year ban on sales by listed companies' major shareholders was due to expire at the end of this week.

The second daylong trading suspension this week forced the securities watchdog to extend the ban, which was introduced last July as part of the government's efforts to stem the rout that wiped trillions of dollars from market valuations.

By doing so, the securities regulator expects to avoid an imminent wave of pent-up selling pressure that would hit China's volatile exchanges hard. The move to extend the ban, even if belated, was badly needed to ease investors' short-term worries. But it is no replacement for a thorough re-examination of how well or badly the circuit breaker mechanism was acting as a market stabilizer.

Both the growing width and depth of the Chinese stock markets and the increasingly complicated trading technologies demand smart and swift responses from the securities watchdog to ease extreme volatility that could seriously hurt investors' confidence in the long-term health of not only the domestic stock market but also the Chinese economy as a whole.

The introduction of the circuit breaker mechanism, a common practice in many overseas stock markets, is ostensibly meant to create time for investors to calm down in the face of volatile market changes. But the domestic stock markets have quite different regulatory requirements and market conditions.

Fortunately, the securities authorities have recognized the risk of allowing the stabilizer to run on auto-pilot, albeit after paying a huge cost.

Most Viewed Today's Top News
...
主站蜘蛛池模板: 沙湾县| 阳江市| 额济纳旗| 三门县| 钟祥市| 小金县| 玛多县| 普洱| 巴彦县| 诸暨市| 横峰县| 洪湖市| 安化县| 保靖县| 上蔡县| 陵川县| 西城区| 皮山县| 鹤庆县| 武隆县| 平顶山市| 朔州市| 姚安县| 稻城县| 年辖:市辖区| 三江| 和田县| 上饶县| 东宁县| 保亭| 东莞市| 榆社县| 江门市| 青田县| 清镇市| 延津县| 额尔古纳市| 太保市| 龙州县| 长春市| 华阴市|