Friday, July 10, 2015

Updating : China Watch

  • Nov. 21, 2014 –PBOC cuts rates by 40 basis points.
  • Dec. 28, 2014 –PBOC changes rules on loan deposit requirements to ease liquidity pressure.
  • Jan. 19, 2015 – The Shanghai market corrects close to 8 percent ; clamp down on margin lending.
  • Jan. 20, 2015 – GDP expands 7.3 percent year on year in the fourth quarter of 2014, beating expectations.
  • Jan. 22, 2015 –PBOC reintroduces reverse repos to meet cash demand ahead of Chinese New Year.
  • Feb. 4, 2015 –PBOC cuts reserve requirement ratio by 50 basis points.
  • Feb. 28, 2015 – The PBOC cuts rates by 25 basis points.
  • Mar. 5, 2015 –China's GDP growth target cut  to 7 percent from 7.5 percent.
  • Mar. 8, 2015 – China's Ministry of Finance announces a trillion yuan local government debt swap.
  • Apr. 19, 2015 - PBOC cuts the reserve requirement ratio by 100 basis points.
  • May 10, 2015 –PBOC cuts rates by 25 basis points.
  • June 10, 2015 – China's Ministry of Finance expands its local government debt swap to 2 trillion yuan.
  • Jun. 19, 2015 – A 6.4 percent fall in the Shanghai Composite Index
  • Jun. 24, 2015 –PBOC scraps the loan deposit ratio cap.
  • Jun. 27, 2015 –PBOC cuts rates by 25 basis points and the RRR by 50 basis points for select banks.
  • June 29, 2015- Markets continue to fall.
  • Provider of margin financing, China Securities Finance Corp, says that the risk of margin trading is controllable and margin calls are relatively small.
  • Allows pension funds managed by local governments to invest in the stock market for the first time,  expecting a fund flow of 1 trillion yuan ($161 billion) into the equity market.
  • The China Securities Regulatory Commission (CSRC) asks  investors to remain calm.
  • July 1, 2015 - Stocks tumble again
  • Shanghai and Shenzhen stock exchanges to lower securities transaction fees by 30 percent from August, 2015.
  • July 2, 2015- The CSRC announces relaxation of rules on margin trading before market open, lowering threshold for individual investors to trade on margins and expanding brokerages' funding channels. SSEC down 3.5 percent.
  • July 3, 2015 - China Financial Futures Exchange (CFFEX) suspends 19 accounts from short-selling for one month. 
  • July 4, 2015 - China's top 21 securities brokerages pledge to invest at least 120 billion yuan ($19.33 billion) collectively to help stabilize the country's stock markets.
  • Twenty-eight Chinese companies planning to list on the country's stock exchanges say they would suspend their initial public offering plans.
  • July 5, 2015- China state-owned investment company Central Huijin Investment Ltd says it has recently purchased exchange-traded funds (ETFs) to support the market.
  • Jul. 5, 2015 – IPOs are suspended, major brokers launch a market stabilization fund and the PBOC announces liquidity support for margin finance.
  • July 6, 2015 - Main stock indexes open up more than 7 percent on the rescue measures, but close up 2.4 percent.
  • July 7, 2015 - Shanghai Composite Index tumbled 4.7 percent to 3,553.47 and Hong Kong's Hang Seng dived 4.3 percent to 23,907.41. 
  • July 8, 2015 The Shanghai Composite plunged 8% at the market open, and spent the entire day in negative territory before closing down 5.9 %
  • 111 major state-owned enterprises were barred from selling shares in their listed subsidiaries by the State-owned Assets Supervision and Administration Commission, which oversees them.
  • CSRC urged shareholders with stakes of more than five percent in listed companies generally to buy .
  • July 9, 2015:  Regulator imposes ban on big shareholders -- those holding at least five percent stakes -- and company executives from selling stock for the next six months ; a police crackdown on short-selling. Shanghai market gainss 5.76 per cent
  • July, 10, 2015 : The Shanghai Composite Index gains 4.50 per cent . Chinese police visit the China Securities Regulatory Commission to investigate evidence of ‘malicious’ short selling of stocks and indexes

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