China is changing the rules of the game. Instead of infusions of money the authorities have begun a witch hunt
very unusual
way to deal with the volatility of the stock
market chose the Chinese authorities. Instead
already familiar to all cash interventions are
We decided to focus on punishing
speculators who, in their opinion as
again and destabilize the stock market.
Thus, attempts
maintain market shares at the expense of the commission
major purchases while suspended,
because they do not provide stable and long-term
results, but instead in the country
began to look for people who
"destabilized markets", about it
According to the newspaper Financial Times.
By the way, in July-August
China spent through public
investment funds and about fininstitutov
$ 200 billion to support the stock market
and prevent economic collapse. But
now the authorities suddenly realized that these actions were wrong – too
I learned a lot of information public. AT
Early last week, when the Chinese
the stock market has fallen sharply, and the rest
world markets followed him
down, analysts and investors believed that
All this happened because of the decision of the Chinese
authorities refuse intervention. slightly
more than a week “injections” in the market is not
was, but on Thursday, the People’s Bank
China has once again started to buy local shares,
and it provoked a growth index
Shanghai Composite 5% on Friday, the indicator
He added still nearly 5%. according to some
versions, Beijing has decided to resume
intervention before the war
parade dedicated to the 70th anniversary of the end
World War II (celebration
will be held September 3). Earlier this week, the Chinese market again went down, Shanghai Composite fell today by 0.78%.
But sources
official circles say that the recent
interventions were an aberration,
Therefore, the authorities should continue to refuse
from large purchases of shares. And instead
We need to focus on finding and
punishment of individuals and financial
Institutions that use the current
the situation on the market for speculative
trade and impede authorities maintain
market. So, last week, China
Commission for the Securities Market Regulation
securities asked the top managers of the largest
Chinese brokerages, stock
and futures exchanges and government
industry associations closely
watch the market and its players. In
During these events were
It identified 22 cases of insider
trading and market manipulation
"the spread of market rumors".
all the information already submitted to the police.
According to RBC,
Chinese authorities have already attracted
liability 197 people – were detained
police to stop
Internet rumors spread about
the fall of China and the recent stock market
explosions in the port of Tianjin. Ministry
Public Safety notes
Posts that violators “caused
panic, misled the public
and the impact on the stock market and
population. ” Among the detainees there
Journalist Chinese edition of Caijing
Magazine, who is suspected of “conspiring
to distribute counterfeit
information about securities. ” By the way,
this reporter recently admitted that
I wrote about the situation report on Chinese
stock market based solely
on rumors and their own conjectures. measures
punishment to violators until
defined, but it is reported that in the course of
checks were already blocked 165
Internet accounts.
Now foreign
Investors are watching anxiously for
development of the situation, writes the Financial Times.
"Global investors have heard statements
of an imminent punishment, watching
starting "witch-hunt" and
They want to understand how this could affect
markets"- said the manager of one
Hong Kong-based hedge fund.
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