Caixin: Major Shareholders Cashing Out of Bull Market
Just as mom-and-pop investors are eagerly jumping back into the stock market thanks to this year’s dramatic turnaround, many major shareholders of listed companies are marching toward the exit door.Caixin: Central Bank Says Still Room for Reserve Ratio Cut but Less Than Before
So far this year, more than 350 listed companies in Shanghai and Shenzhen have given notice that a major shareholder will sell at least some of its shares in their companies, with 161 such notices issued since March 1, according to data compiled by Caixin. Those 161 notices announced stock sales worth 8.37 billion yuan ($1.25 billion) in total.
There is still room for China to cut banks’ reserve requirement ratio (RRR), but the room is much smaller than in previous years, central bank Governor Yi Gang said Sunday.An RRR cut isn't easing unless the banks boost lending. They've failed to spur lending before and been associated with a rising U.S. dollar. With the Hong Kong dollar back at the peg limit, it looks like conditions are ripe for another U.S. dollar rally.
Yi’s comments come as market participants have high hopes for more monetary easing steps this year when the world’s second-largest economy is still plagued by sluggish growth amid a trade war with the U.S.
No comments:
Post a Comment