• <abbr id="ck0wi"><source id="ck0wi"></source></abbr>
    <li id="ck0wi"></li>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li><button id="ck0wi"><input id="ck0wi"></input></button>
  • <abbr id="ck0wi"></abbr>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li>
  • Home >

    Pi Haizhou: Can Not Slow Down The Market Because Of The T+0

    2015/3/12 9:29:00 16

    Pi HaizhouT+0Market Quotation

    Not only the CPPCC National Committee member but also the chairman of the Shanghai Stock Exchange, Gui Minjie, said that there was no technical obstacle to the introduction of the T+0 system, indicating that the conditions for introducing T+0 into the blue chips were ripe. Moreover, even the chairman of the SFC, Xiao Gang, said: "the blue chips are not trading very well now. If we want to push the T+0 system, we may choose some blue chips for trial, but these problems are still under study."

    However, a year later, in this year's "two sessions", T+0 has become a hot topic.

    Although He Qiang, a member of the CPPCC National Committee and professor of Finance School of Central University of Finance and Economics, once again submitted a "resumption of the stock market" on this year's "two sessions" as a staunch supporter of the "T+0" trading of the stock market.

    T+0 paction

    Proposal.

    But Xiao Gang, chairman of the securities and Futures Commission, said that the market liquidity and turnover rate were also good, so it did not consider the immediate resumption of T+0 trading mechanism.

    Even Gui Minjie, chairman of the Shanghai stock exchange who actively promoted T+0 last year, also said that T+0 is a double-edged sword. It has a positive side to provide liquidity to the market, but there are also problems of volatility and speculation. Therefore, it is still necessary to take steps step by step.

    Gui Minjie said that the T+0 of stock is still in preparation and unified understanding process, and we are still working hard to promote this matter.

    T+0 from last year's "two sessions" hot topic to this year's "two sessions" of the cold topic, and even Gui Minjie from the "big blue chips launched T+0 condition is ripe" to "still step by step."

    Such a huge change is obviously related to the change of market environment.

    Last year's "two sessions", the Shanghai stock exchange actively promoted T+0 because the Shanghai composite index was very low at that time, when the Shanghai composite index was still struggling around 2000.

    After a year, the Shanghai Composite Index has risen to 3200 points, or more than 60%.

    The stock market has bid farewell to the doldrums.

    As president Xiao Gang said, "market liquidity and turnover rate are also good". In this case, T+0 is not a top priority.

    So the launch of T+0 is still a step by step.

    This reflects the management's "headache and pain" in regulation.

    Further, it also exposes the true understanding of T+0 by management.

    That is, T+0 is a tool for speculation in the market.

    Of course, to speak highly of is to activate the market to provide liquidity.

    It is no wonder that when the stock market is in a downturn, the Shanghai Stock Exchange should vigorously advocate the introduction of T+0. It is no wonder that the SFC has been hesitant about the issue of T+0.

    I believe that although management's understanding of T+0 is not entirely wrong, at least it is not comprehensive.

    Because T+0 is not just a tool for speculation, T+0 is also an error correcting tool for investors. It even involves the principle of "three principles" in the market.

    For example, in

    Investor

    In case of incorrect operation of investment activities, if investors find that they have bought the wrong stock, if they can conduct T+0 operation, investors can correct their mistakes in time. On the contrary, because there is no T+0, investors can only watch their investment losses increase and not stop on the same day.

    This is obviously not conducive to protecting the interests of investors.

    What is particularly important is that without T+0, this is further aggravated.

    Stock market system

    It's unfair.

    For example, in the face of the "8.16" Everbright Securities Oolong incident in 2013, institutional investors and individual investors can hedge investment risk by shorting the futures index, reduce the investment losses through short selling, and even reduce the investment losses by selling the fund ETF.

    But as a small and medium-sized investor, because of the limitation of financial strength, the above operation can not be carried out.

    Moreover, if T+0 operation is not possible, investors can only act as a beast of prey and allow investment losses to increase.

    This is obviously unfair to small and medium-sized investors.

    Because of this, the introduction of T+0 should not be related to the changes in the stock market, but only to the error correction mechanism of the market and to the fairness of the market.

    Therefore, the stock market can not postpone the introduction of T+0 because of the warming of the market.

    And because of the downturn in the market, we must try our best to launch the T+0, and the market is improving. We should take "step by step" on the issue of T+0. This reflects the utilitarian nature of regulation, and it is also a sign that China's stock market is not mature enough.


    • Related reading

    Guan Qingyou: The Chinese Version Of QE Will Not Appear.

    Expert commentary
    |
    2015/3/11 11:56:00
    24

    皮海洲:如何讓投資者不必擔心擴容過快

    Expert commentary
    |
    2015/3/9 9:48:00
    16

    Li Jian: Pull Up And Lighten Up The Band Operation.

    Expert commentary
    |
    2015/3/8 20:33:00
    28

    Zhou Xiaochuan: We Should Take Economic Growth And Inflation Indicators More Seriously Than M2.

    Expert commentary
    |
    2015/3/7 17:23:00
    23

    皮海洲:投資者聚焦在哪里

    Expert commentary
    |
    2015/3/5 13:08:00
    25
    Read the next article

    Cao Zhongming: The Listing Of Sinovel Is More Like A Mirror Of A Shares.

    The follow-up effect of the new shares issued by Sinovel wind has been familiar before. As a matter of fact, the scene on Huarui wind power also took place in many new shares, which has become another "A" landscape.

    主站蜘蛛池模板: 老司机带带我懂得视频| 久久久久成人精品无码| 乱人伦精品视频在线观看| 69成人免费视频| 欧美综合图区亚欧综合图区| 我和娇妻乱荡史| 国产AV无码专区亚洲AV漫画| 久久一区不卡中文字幕| 色噜噜狠狠一区二区| 成人短视频完整版在线播放| 午夜看一级特黄a大片| 一本久久伊人热热精品中文| 男生被男生到爽动漫| 太深了灬舒服灬太爽了| 亚洲精品欧美日韩| √天堂资源最新版中文种子| 窝窝午夜看片成人精品| 在线观看国产精品va| 亚洲欧美日韩另类在线专区| 18禁止看的免费污网站| 樱花草在线社区www| 国产在线一区二区| 中文字幕亚洲综合久久菠萝蜜| 精品无码国产自产拍在线观看蜜 | 男人的j插女人的p| 日日大香人伊一本线久| 四虎在线免费视频| yy6080午夜一级毛片超清| 波多野结衣被躁| 国产精品成人免费视频网站| 九歌电影免费全集在线观看| 草莓视频在线免费 | 亚洲第一页国产| 1024手机看片基地| 日本熟妇色熟妇在线视频播放| 国产99久久九九精品无码| 一区二区三区日韩| 欧美牲交a欧美牲交aⅴ免费下载| 国产男女猛烈无遮挡免费视频网站 | 日本一卡2卡3卡4卡无卡免费| 又粗又硬又大又爽免费观看|