The amount of equity financing in the fourth quarter will exceed 40 billion Quotes warming means for

    The specific amount of a conservative estimate more than 40 billion yuan, "Quotes warming means for misappropriating warming" may be repeated
According to "Shenzhen Special Zone Daily" report, issued new shares suspended, after all rally round a big boost power. However, in the upcoming 4th quarter by issuing new shares and expansion of the refinancing wave is composed of a comeback. This situation is likely to affect the market supply and demand situation as well as the future capital Quotes development.
September moratorium of new
Financing the fourth quarter of the amount of a straight line l
Could reach 50 billion yuan. Despite the hot-listed Ping An Insurance, inspired by domestic listed companies have high hopes for overseas markets, recent market developments show that the Shenzhen and Shanghai stock markets will continue to be listed domestic companies and refinancing means for misappropriating the main battlefield. So this year, the last 3 months of expansion pressure will be mainly borne by domestic investors.
Recently, Baosteel (Information Quotes Forum) (600019) issuance program was adopted. At the same time, including the Hua Xia Bank (Information Quotes Forum) (600015), Nanning Sugar (Information Quotes Forum) (000911), Hubei Yihua (Information Quotes Forum) (000,422), etc., re-financing options listed companies have baked , Zoomlion (Information Quotes Forum) (000157), etc. is robbed voting system in the classification before the start of surprise thrown refinancing program, reproduce Quotes warming, means for misappropriating warming scene. Listed companies this year, 3 months after the amount of money to the secondary market is also growing fast.
And in 2003 more than 130 billion yuan fund-raising amount of the stock market compared to the pressure of expansion this year, the stock market seems to be beyond the imagination of the past.
From the November 2003 start of the multi-year market, so that financing for the first half of the amount of the stock market hit a new high. According to the SFC to statistics, from January to June this year, the amount of listed companies, fund-raising more than 85.8 billion yuan, of which A shares market, a total of 45.988 billion yuan fund-raising for the financing of last year, the amount of 55.98%, compared with an increase of 47.37 percent over the same period last year. The first 8 months of this year's total financing of listed companies amounted to 113.6 billion yuan more than 2003 full-year funding is only 135.8 billion yuan less 22.2 billion. Increasing the amount of annual funding in accordance with the "practice", if the rally can continue to hit, this year's 4th quarter corporate finance conservative estimate of the amount of more than 400 billion yuan,
Could reach 50 billion yuan. Despite the hot-listed Ping An Insurance, inspired by domestic listed companies have high hopes for overseas markets, recent market developments show that the Shenzhen and Shanghai stock markets will continue to be listed domestic companies and refinancing means for misappropriating the main battlefield. So this year, the last 3 months of expansion pressure will be mainly borne by domestic investors.
Inhibition means for misappropriating impulse
Early voting to start looking forward to Categories
Securities and Futures Commission for improving the public shareholders of protection mechanisms for comments by the market as a long-term positive. However, it is likely that the short-term market, the recent financing much water can not quench thirst. In particular, in September 2003 listed China banks to issue subordinated debt of 42.5 billion yuan after the announcement before the proposed issuance of not more than 840 million shares of A shares and fund-raising 5.5 billion. With Baosteel additional funding of nearly 300 billion yuan, China Vanke (Information Quotes Forum) A (000002) issued 2 billion of convertible bonds, etc., in September to suspend issuance of new shares under the pressure of the first four quarters of a linear increase in the amount of financing trend.
The most early in the stock market downturn, the market parties believe that stock prices is not a lack of funds, but a lack of confidence because the split share structure and major shareholders of listed companies malicious means for misappropriating, prompting investors to vote with their feet. Quotes in the month, suddenly starts to pursue a high capital poured into the market to prop up the volume, it seems that on the other hand does not prove the thesis that lack of confidence in the financial shortage. However, if the actual amount of money involved in the stock market analysis, it seems that at the 4th quarter, when the need for greater expansion of the amount of funding to take over.
Other institutional investors can imagine.
Institutional investors between the two cities is currently the main financial sources, including funds, brokerages, insurance companies, QFII, social security funds and private equity funds. As of the end of August, the domestic 40 fund companies manage 146 funds, fund size of more than 300 billion yuan. As the fund's holdings in the dynamic, in accordance with open and closed-end funds about 60% of position estimates, excluding 20% of the bonds and 5% cash ratio, theory predicts that the market should be 450 million in cash. But almost no warehouse full of fund managers dare to buy, so the funds can be the size of the market is not expected to more than 30 billion yuan. As the main body of the fund like this,
The second draft is in the phase of the Social Security Fund had 100 billion yuan in assets under management. With the increase in fund managers, fund management, the Social Security Fund's assets will be turned 1-2 times less than 10 billion yuan. Although the stock market funds may not be soon enter the market, but the amount is not fairly small. In addition, there are eager to corporate annuity market is estimated that some funds may have 20 billion yuan every year to become the stock market incremental funding.
As a representative of the other institutional investors, QFII investment quota increase is always in the process. Although the QFII major purchase convertible bonds, stock speculation in the operation of impunity for suspects, but analysts estimate that in 2004 QFII to invest in A shares of the funds will gradually increase with the amount of increase is expected to reach 100 billion yuan.