英文： Shanghai shares close morning sharply higher on govt move to boost market
A- and B-share prices closed the morning sharply higher on further indications that the government is launching a program aimed at ramping up share prices, dealers said.
Shares gained sharply on Friday following publication of an editorial in the official China Securities Journal which was apparently aimed at boosting investor confidence and was seen by many as confirmation of rumours that the government is implementing a ten-point package aimed at driving share prices higher.
This was followed over the weekend by the publication of a similar editorial on Saturday, as well as the publication of reports that the government has given up a plan to sell off state shares via the stock market and the publication of provisional regulations raising the threshold for listed companies seeking to launch additional share offers.
All of these actions appeared to confirm the rumours of a ten-point market-boosting package, they said.
The composite A- and B-share index closed 120.61 points higher at 1,683. 33 on turnover of 34.47 bln yuan after trading to a high of 1,709.06 and a low of 1,647.50.
The A-share index gained 125.71 points to 1,756.74 on turnover of 31.03 bln yuan after trading between 1,783.64 and 1,719.38.
The SSE-30 index rose 238.05 points to 3,106.56.
The B-share index closed 11.65 points higher at 153.39 after trading between 155.53 and 149.89.
Analysts said there had been widespread expectations that the government would step up its efforts to ramp up share prices after the composite index dropped below a key level at 1,500 points.
Many investors consider 1,500 points the market's policy bottom amid a belief that the government is not prepared to allow prices to correct below that level.
Some analysts said they believe the government is determined to generate a market rally in the run-up to the Communist Party's 16th Congress in autumn.
However, others said the government may merely be seeking to heighten the market's ability to channel funds to cash-strapped state enterprises, and noted that institutions, who tend to take a longer-term view of stock investment, appear to be taking profits as retail investors carry out strong buying.
DBS Securities analyst Wu Jian said the government appears to have performed a 180-degree turn in its policy towards the market, and said he believes the government may be paving the way for the launch of several huge A-share offers by Hong Kong-listed companies including China Unicom, PetroChina and China Southern Airlines.
He also noted that there is now great uncertainty about the government's plans for the sale of its majority stakes in listed firms.
A Xinhua News Agency report said that instead of selling off state shares via the stock market, the Ministy of Finance will inject part of its state share holdings into the State Social Security Fund, which will derive income from dividends paid on these investments and from the sale of shares to strategic investors.
This raises questions about whether the social security fund will be involved in the management of listed companies, and whether the government is yet prepared to face the idea of selling off majority stakes in listed firms to strategic investors.
Wu said questions like these are likely to remain unanswered, since the government's focus appears to be only on solving immediate problems.
中文：上海早上收市 - 減持國(guó)有股叫停 / 滬股狂升
交易員稱, 國(guó)務(wù)院正式宣布終止減持國(guó)有股, 上海A、B股今早狂 升7.7%及8.2%, 成交激增。
他們指, 種種跡象顯示, 政府決心支撐股市, 激發(fā)投資者入市信心。
上證綜合指數(shù)早上收市升120.61, 報(bào)1,683.33, 成交344.7億人民幣, 波幅介乎 1,647.50及1,709.06。
A股指數(shù)升125.71, 報(bào)1,756.74, 成交310.3億人民幣, 波幅介乎1,719.38及1,783.64。
上證30指數(shù)升238.05, 報(bào)3,106.56。
B股指數(shù)升11.65, 報(bào)153.39, 成交1,161萬(wàn)美元, 波幅介乎149.89及155.53。
上周市場(chǎng)傳出政府將推出托市10招, 其后《中國(guó)證券報(bào)》周五發(fā)表頭版評(píng)論, 強(qiáng)調(diào)中國(guó)市 場(chǎng)屬「新興」及「轉(zhuǎn)軌」市場(chǎng), 被視為*有意為股市造勢(shì)的證明, A、B股周五已偷步上揚(yáng)。
到了周末, 媒體再刊類似評(píng)論, 財(cái)政部及中國(guó)證監(jiān)也隨即宣布, 停止在國(guó)內(nèi)證券市場(chǎng)執(zhí)行《減持國(guó)有股籌集社會(huì)保障資金管理暫行辦法》中, 關(guān)于利用證券市場(chǎng)減持國(guó)有股的規(guī)定, 并不再推出具體的實(shí)施辦法。
部分分析員預(yù)料, 在中共16大前, *仍會(huì)推動(dòng)股市向上。
A- and B-share prices closed the morning sharply higher on further indications that the government is launching a program aimed at ramping up share prices, dealers said.
Shares gained sharply on Friday following publication of an editorial in the official China Securities Journal which was apparently aimed at boosting investor confidence and was seen by many as confirmation of rumours that the government is implementing a ten-point package aimed at driving share prices higher.
This was followed over the weekend by the publication of a similar editorial on Saturday, as well as the publication of reports that the government has given up a plan to sell off state shares via the stock market and the publication of provisional regulations raising the threshold for listed companies seeking to launch additional share offers.
All of these actions appeared to confirm the rumours of a ten-point market-boosting package, they said.
The composite A- and B-share index closed 120.61 points higher at 1,683. 33 on turnover of 34.47 bln yuan after trading to a high of 1,709.06 and a low of 1,647.50.
The A-share index gained 125.71 points to 1,756.74 on turnover of 31.03 bln yuan after trading between 1,783.64 and 1,719.38.
The SSE-30 index rose 238.05 points to 3,106.56.
The B-share index closed 11.65 points higher at 153.39 after trading between 155.53 and 149.89.
Analysts said there had been widespread expectations that the government would step up its efforts to ramp up share prices after the composite index dropped below a key level at 1,500 points.
Many investors consider 1,500 points the market's policy bottom amid a belief that the government is not prepared to allow prices to correct below that level.
Some analysts said they believe the government is determined to generate a market rally in the run-up to the Communist Party's 16th Congress in autumn.
However, others said the government may merely be seeking to heighten the market's ability to channel funds to cash-strapped state enterprises, and noted that institutions, who tend to take a longer-term view of stock investment, appear to be taking profits as retail investors carry out strong buying.
DBS Securities analyst Wu Jian said the government appears to have performed a 180-degree turn in its policy towards the market, and said he believes the government may be paving the way for the launch of several huge A-share offers by Hong Kong-listed companies including China Unicom, PetroChina and China Southern Airlines.
He also noted that there is now great uncertainty about the government's plans for the sale of its majority stakes in listed firms.
A Xinhua News Agency report said that instead of selling off state shares via the stock market, the Ministy of Finance will inject part of its state share holdings into the State Social Security Fund, which will derive income from dividends paid on these investments and from the sale of shares to strategic investors.
This raises questions about whether the social security fund will be involved in the management of listed companies, and whether the government is yet prepared to face the idea of selling off majority stakes in listed firms to strategic investors.
Wu said questions like these are likely to remain unanswered, since the government's focus appears to be only on solving immediate problems.
中文：上海早上收市 - 減持國(guó)有股叫停 / 滬股狂升
交易員稱, 國(guó)務(wù)院正式宣布終止減持國(guó)有股, 上海A、B股今早狂 升7.7%及8.2%, 成交激增。
他們指, 種種跡象顯示, 政府決心支撐股市, 激發(fā)投資者入市信心。
上證綜合指數(shù)早上收市升120.61, 報(bào)1,683.33, 成交344.7億人民幣, 波幅介乎 1,647.50及1,709.06。
A股指數(shù)升125.71, 報(bào)1,756.74, 成交310.3億人民幣, 波幅介乎1,719.38及1,783.64。
上證30指數(shù)升238.05, 報(bào)3,106.56。
B股指數(shù)升11.65, 報(bào)153.39, 成交1,161萬(wàn)美元, 波幅介乎149.89及155.53。
上周市場(chǎng)傳出政府將推出托市10招, 其后《中國(guó)證券報(bào)》周五發(fā)表頭版評(píng)論, 強(qiáng)調(diào)中國(guó)市 場(chǎng)屬「新興」及「轉(zhuǎn)軌」市場(chǎng), 被視為*有意為股市造勢(shì)的證明, A、B股周五已偷步上揚(yáng)。
到了周末, 媒體再刊類似評(píng)論, 財(cái)政部及中國(guó)證監(jiān)也隨即宣布, 停止在國(guó)內(nèi)證券市場(chǎng)執(zhí)行《減持國(guó)有股籌集社會(huì)保障資金管理暫行辦法》中, 關(guān)于利用證券市場(chǎng)減持國(guó)有股的規(guī)定, 并不再推出具體的實(shí)施辦法。
部分分析員預(yù)料, 在中共16大前, *仍會(huì)推動(dòng)股市向上。