The Wall Street Journal quoted people familiar with the matter and revealed that the managers of the China Stock Exchange had told domestic securities firms and fund companies that this week the Chinese Communist Party held 20 major meetings during the time not to conduct large -sale transactions.
It is reported that this move is to reduce market fluctuations during the crucial political conference and before and after.The Chinese Communist Party opened on October 16 for a week and closed on October 22.
The performance of the mainland stock market this month is significantly better than that of Chinese companies in overseas markets.
The Hong Kong Hang Seng Index with a high weight of Chinese companies closed on Friday (21st) at the lowest level since April 2009. Investors did not come up with the government aspects that might boost Chinese stocks.disappointment.
In the past two weeks, the Hang Seng Index has fallen by 8.6%, while the Shanghai Composite Index and the CSI 300 Index have risen by 0.5%and 1.6%respectively.
The Wall Street Journal quoted people familiar with the matter and said that last Wednesday (19th), after a 1.4%fell 1.4%in the forecast of the CSI 300 Index, at least one securities exchange called some brokers and told these companies to be inA few days before the opening of the 20th National Congress restricted to sell.In the back market trading that day, the index rose nearly 3%at a time and closed up 1.5%.
The managers of the Stock Exchange also called some fund companies in the last week of September.People familiar with the matter said that the exchange requires that these companies to avoid transactions that have a great impact on the market before and during the 20th and before the 20th National Congress.
According to some investors, these warnings have led to a decrease in China's A -share market activities.According to the data of Wind, A shares in September of A shares decreased by 44%year -on -year.In October, the transaction volume decreased by about 25%year -on -year.
LOOMIS, Sayles Co., a senior analyst at Bai Zhuang (translated), said that although the "window guidance" from the exchange manager or other regulatory agencies helps the Chinese stock market during major political events during major political eventsMaintaining relatively stable, but it is almost impossible to make investors feel at ease of market transparency.
Baizhuang said: "The market is a place that should make people find the correct price of risk. If the market price cannot reflect the level of risk, it means that the market does not play a role."
The Wall Street Journal reports that China's regulatory agencies also try to impact the research report published on the eve of the 20th National Congress of the Communist Party of China.China ’s securities regulatory agencies have requested earlier that the 20th meeting of the brokerage agencies including JP Morgan Chase and Goldman Sachs China’ s business departments did not comment on political sensitive topics before the convening.A series of issues.
