2008年6月30日星期一

Only information transparent to enable the loss of market rumours

The response to these rumors, in the recently held a meeting of the Commission, the China Securities Regulatory Commission Chairman Shang Fulin said that a series of recent rumours intensify the market is unstable, and therefore must take practical and effective measures to intensify the Involving the capital market rumours spread of illegal activities, such as accountability, and severely crack down, resolutely punish malicious Zaoyaohuozhong acts.
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Xie: see "Chinese speed" Wang investigated who fought the face »Ba Shusong: full circulation era will bring up penny stock Wang Qishan Washington speech Why stir» Crude oil will soon "collapse" electricity price increases, why do not oppose the people of the » Since the capital market after rumours on the market and forged a relationship, whether the international community which claims to have the mature market, or is still in the "emerging and transition" in the Chinese market, almost all "song haunt" Shadow, massive fluctuations in the market when the rumor is particularly prosperous. In fact, this situation very well understood, and the capital market is an information market, investors trading of a stock based on the final analysis, he is the master of the message, a total lack of understanding of information from entering the market, like the blind riding a blind horse Midnight A deep pool And the risk of is self-evident. Some market manipulator is the use of the market's characteristics, concocted by rumors, in order to lead the market sentiment to their needs direction. Small to a listed company's business, the country's major political changes in the economy, extreme even important political figures of life and death, rumors can become a maker of tools. As China's capital market is still in the "emerging and transition" phase, during which various interests of the main struggle, full of contradictions, in particular the "City policy" characteristics difficult to shake off, the rumors appear more market. Such rumours are not only negative, the so-called "bad news", but also have a positive, the so-called "good news", all depending on the needs of the rumors maker.
Rumors spread, the capital market is a Wanji, and it is a serious consequences caused by the excessive volatility of the market, especially to small and medium investors into panic. To solve this problem, indeed the need for creators to combat rumors, until their punishment in accordance with the law. But this requires time, when a series of investigations and detection of results achieved when the market has long been a number of rumors disruption of the return. Therefore, rumours spread against the reality of a more effective means should be to strengthen transparency of information. Apart from the listed companies should do a good job in accordance with relevant provisions of the disclosure of information, some of the rumors macro level, it should be even more timely clarification. In this regard, the State Council and people's livelihood close relationship between the number of ministries and leave the front, respectively, have established a system spokesman, press spokesman's name, contact phone have been published in the online, but have not yet established that the SFC Of the system, the authority of the SFC poor information channels, the objective is also to the rumours who provided the opportunity. This so-called "road could not track popular."
The interests of the capital market is a market, the spread of rumors Yuanshen Yu other areas. We can see that the regulatory departments of listed companies to disclose the information very seriously, have established a well-established system, the listed companies is not just news outcrop, the company can promptly in accordance with the requirements of clarification, rumors quickly collapse. But investors to invest in the stock market, not only to understand a single listed company information in order to circumvent the system of non-market risk, should also be aware of macroeconomic information, in order to avoid systemic risk. In this regard the loss, the market will greatly increase the risk factor is not conducive to investors to make the right decisions. Therefore, market supervision departments must attach great importance to open the channels of information, spread rumors in order to plug the channels.
May 1 this year, to build a transparent government, guarantee citizens the right to know the purpose of the "Government Information Disclosure of the" formal implementation. Believe that the Commission will establish an information system as open implementation "regulations" an important step, through a thorough public information so that investors fully and timely understanding of information, establish long-term confidence in the market. In this way, even if Nanyigenchu rumours on the market, but the market will eventually gradually shrinking.

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