日韩午夜精品视频,欧美私密网站,国产一区二区三区四区,国产主播一区二区三区四区

The total market value of shares already listed in Chinese stock market was reduced by more than 400 billion yuan (US$50 billion) after the country resumed the initial public offering (IPO) in June.

On June 2, the eve of the first IPO, the total market value of shares listed on Shanghai and Shenzhen Stock Exchange, the country's two bourses, was 4,423.2 billion yuan, but on Monday, the market value of the same shares dropped to 4,017.8 billion yuan, the Xinhua-run China Securities Journal reported Tuesday.

During this period, 10 companies including the state-owned Bank of China (BOC) and the Daqin Railway witnessed their IPOs in the mainland market.

The 10 IPOs altogether raised fund of 40.6 billion yuan, according to the newspaper.

The market has enjoyed a solid run since late last year and there have been periodic bursts of heavy profit-taking but the past month or so has seen several days of significant losses.

On Monday, Chinese share prices closed sharply lower, falling 2.98 percent on continuing liquidity concerns as the pace of IPO approvals picks up.

Chinese regulations require investors to apply or subscribe to buy shares in an IPO by putting funds up front which are frozen for four days.

Potential investors are then selected randomly in a computerized lottery. Unlucky investors who are unsuccessful in winning the right to buy new shares have their funds returned within four days.

Dealers attribute recent index downturn to investors raising cash for the upcoming IPOs, with many of the newly listed stocks expected to do well and provide quick profits.

Dealers remained concerned about emerging liquidity pressure, with Air China and Industrial and Commercial Bank of China (ICBC) on the listing trail.

Within 9 months, the market value of shares newly issued is expected to exceed 3.3 trillion yuan, almost the same size as the total share value in the two bourse before IPO resumption in June, latest report provided by the Shenying & Wanguo securities institute.

Frequent refinancing and IPOs were blamed for contributing to the four-year stock index slump in China.

The China Securities Regulatory Commission (CSRC), the country's securities market watchdog, suspended refinancing of listed companies as well as IPOs throughout 2005.

(Xinhua News Agency August 2, 2006)