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Chinese stocks
tumbled, led by brokerages, after regulators took measures to rein in
margin trading at three of the nation’s biggest securities firms.
The Shanghai
Composite Index (SHCOMP) sank as much as 6 percent to 3,175.16 at 9:36
a.m. local time. Citic Securities Co. (600030) and Haitong Securities
Co., two of the brokerages targeted by regulators, slumped by the 10
percent daily limit.
The penalties have
raised concern that policy makers are trying to curb a surge in stock
purchases using borrowed money, after outstanding margin loans jumped
to 1.08 trillion yuan ($174 billion) as of Jan. 13 from about 400
billion yuan at the end of June. The Shanghai Composite index has
jumped 61 percent during the past 12 months on record volumes as
individual investors piled into the market.
The Shanghai gauge
advanced 2.8 percent last week, a 10th week of gains that’s the longest
winning streak since May 2007, after credit growth expanded and
speculation grew the central bank will cut reserve-requirement ratios.
The nation’s top
two biggest listed securities firms and Guotai Junan Securities Co.
were suspended from lending money and stocks to new clients for three
months, the China Securities Regulatory Commission said on its
microblog on Jan. 16 after the market closed.
The regulator
punished nine other securities companies for offenses including
allowing unqualified investors to open margin finance and securities
lending accounts.
Commodities just
can't catch a break – and China's upcoming gross domestic product (GDP)
release on January 20 could throw another punch at the beleaguered asset
class should it underperform expectations, warn analysts.
"We are days from
the release of China's Q4 GDP and copper is the best barometer of
growth. The rout gives me reason to believe China's growth is not only
moderating but is slowing faster than estimated," Evan Lucas, market
strategist at IG wrote in a note.
"If China disappoints next Tuesday, brace for a real rout in commodities," he said.
China's GDP growth
is expected to have cooled to 7.2 percent on-year in the final quarter
of the year, according to a Reuters poll, down from 7.3 percent in
the third quarter.
This would mark the
weakest expansion since the first quarter of 2009, in the depths of
the financial crisis, when growth slumped to 6.6 percent.
Track me
What To Do Today..........
Our Opininon for Today's Market.......
1.Market Looks Volatile.....
1.Some Insider Say NIfTy go up to 6200
What To Do Today........
Nifty....Today Face Resistance at......8588..8645..8685
Nifty.....Today Support at ..8510...8460...8405
Nifty Range...7200--------9200
TRACK ME RESEARCH......
NEXT TGT FOR
Our Opinion for Today's Market.......
1.Stock Specific Movement Expected Today ......
2. Mid-caps Looks Good....
INTRADAY HOT STOCKS : 20/1/2015
sell mstak @ 410 sl 415tgt 403
sell 8000 pe jan and feb
buy relcap sl 458tgt 508
buy idfc sl 162 tgt180+
buy sbi sl 309 tgt 322/330
L&T FINANCE HOLDINGS
(BSE TICKER-533519@ Rs.65/-)
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!!!!
Rs.90/120/- Rs.150/-
Alert:- Our Subscriber's Long in Stock!!!
MARKSANS PHARMA
(Bse Ticker-524404@ Rs.18.80)
TARGET
Rs.21/- Rs.24/30/35/40/80 /140SL Rs.15/-
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