Plunge Protection Meets The Bears on Ping An Battlefield

Volume in Ping An shares hit ￥68 billion on Tuesday, more than the volume of the entire ChiNext market.

"Daily Economic News" reporter noted that since the Shanghai stock market turnover of 776.1 billion yuan yesterday, in fact, China Ping contributed 8.75 percent of total Shanghai stock market turnover. Turnover of 67.94 billion yuan China's Ping An - that's more than the entire volume of the GEM market, in fact 1.5 times the volume.

Ping An H-shares swung from a 5% premium last week to a 15% discount as of Tuesday, with shares up 10% in Shanghai and down nearly 4% in Hong Kong.

Ping An shares bought on margin were dumped in the prior two weeks, but it is seen an a blue chip stock upon which a stable market can be built.

A broker pointed out that China Ping An shares as the first financing, leveraged trading vane. Recently China Ping decline is not large, it will not reach the strong level too, but financing the balance in huge decrease, the most important reason is that in many small and medium capitalization stocks plummeted in the background, investors panic spread. In the last year before the market bullish for a long time, financiers are slowly Opening. If China Ping financing balance can rebound, it will be beneficial to investors regain confidence, the market stabilized rebound.

iFeng: 中国平安成救市主战场 成交680亿超创业板整个板块