Chinese stock sell-off hits world markets股市遭遇"黑色星期二"

[mamaomao]

股市遭遇"黑色星期二" 指数上演十年来最大跌幅
2007年02月27日15:20 http://www.cbc.ca/money/story/2007/02/27/chinesemarkets.html

　　基金等机构重仓股抛压沉重

　　人民网2月27日讯　沪深股市今天上演变脸行情，盘中出现跳水，尾盘收阴。共有900余个股跌停，两市暴跌接近跌停。

　　今日上证综指开盘3048.83点，最高3049.77点，最低2763.40点，报收2771.79点，下跌 268.81点，跌幅达8.84%，成交1316.3亿；深成指开盘8620.86点，最高8631.97点，最低7790.82点，收盘7790.82点，下跌797.88点，跌幅达 9.29%，成交687.1亿。沪市46家上涨，845家下跌；深市26家上涨，590家下跌，两市共18家个股涨停，900多只个股跌停。股市成交量、下跌幅度和下跌点数均创本轮行情纪录。

　　根据资料显示，本次沪市大盘暴跌是10年来最大跌幅。1997年2月18日，沪市大盘指数曾大跌8.91%，1998年8月17日沪指　下跌8.36%。

　　个股方面：两市个股普跌，盘中一度超过800只个股封于跌停，红盘个股不足100只，以五粮液、吉林敖东为代表的基金重仓股开盘后出现明显放量下跌，有色金属股震荡以及钢铁股走软使得大盘失去骨干，并引发一些前期过度炒作的中高价基金重仓股出现集体调整，金融、钢铁、汽车、石化、商业连锁、物流等板块跌幅居前。近期表现一直欠佳的金融股今日再度成为空头司令军，其中宏源证券一度跌停，银行股走势亦十分疲软，工商银行(4.69,-0.41,- 8.04%)、中国银行(4.62,-0.36,-7.23%)跌幅超过7%。其他大盘股，如中国石化(8.9,-0.99,-10.01%)、中国联通 (4.89,-0.54,-9.94%)、长江电力(11.39,-1.26,-9.96%)等封于跌停；另外，汽车、钢铁、石化、机械等板块也深幅回落，宝钢股份、中国石化、上海汽车均下跌愈6%。上涨的个股多为低价、ST等非主流品种，两市仅有200多家股票上涨，而今日上市的柳钢股份表现超出市场预期，大涨近70%。另一方面在大唐电信冲击涨停，高鸿股份回暖上扬的带动下3G板块有所活跃，两市涨停个股仅只5家：东北电器、江苏索普、贵研铂业、 大同水泥、永生数据逆势涨停。

　　工商银行(4.69,-0.41,-8.04%)、中国银行(4.62,-0.36,-7.23%)跌幅超过7%，中国石化(8.9,-0.99,-10.01%)、中国联通(4.89,-0.54,-9.94%)、长江电力(11.39,-1.26,- 9.96%)等封于跌停；两市无一板块表现活跃，只有部分S股封于涨停，成为两市唯一亮点，此次盘面情况在本轮行情中从未出现过，显示市场资金不计成本出逃，投资者注意回避风险。

　　广发证券分析师认为，由于基金重仓股的调整已有数日，在这种大跌中，优质股的调整其实已接近尾声，面对市场的恐慌心态，涨时不喜、跌时不惧，早间撤出的资金正可利用大盘的调整拣到便宜筹码，每一次的调整，都是热点的切换契机，也是财富再分配的过程。

　　申银万国分析师认为，投资者对牛市中的调整似乎以正常的心态应对。从短线看，大盘破位5日均线后，抛盘涌出，股指尚有继续调整的空间，上证指数在 2500点至3000点区间震荡蓄势，类似于2006年6月至8月期间的运行格局。操作上短期适当减点仓，2600点左右回补。

　　天同证券分析师认为，基金重仓股全线调整、主流板块大幅震荡以及权重股的打压均对大盘形成空头压力，不过，我们认为这种调整理应存在，更是优化持仓结构的良好时机。

　　湘财证券分析认为，部分资金获利回吐的迹象明显，包括基金持有的重仓品种和前期涨幅过大的高价股、题材股成为本次下跌的重灾区，指数的快速下滑导致盘中不断有恐慌盘的抛售，下跌态势一发而不可收，泥沙俱下在价值修正的同时也错杀了很多低价的绩优品种，后市机会也由此产生，短线来看，惯性的下跌之后股指有望迎来报复性的反弹行情。

　　万国测评认为，由于盘中没有有力度的反弹，一波接一波的杀跌把越来越多的个股推向跌停，如果消息面保持真空，明天大盘继续跳空低开的可能很大，投资者在操作上应保持适当谨慎。

　　北京首放分析师认为，沪指大跌268点以近似于最低点2771点报收，成交超过1300亿，无论是当日跌幅还是成交金额，还是超过800只股票跌停，沪指表现堪称历史之最。不过这种情况也会使参与市场的如管理层、机构主力等相关利益群体，对市场有一个冷静思考的态度，市场因此运行将更为健康。如果没有大的利空出台，长阴往往就意味着明日一个报复性大反抽契机的来临。同时从股价结构性调整的角度考虑，部分强势品种有望借此迎来新的上攻机会。

　　据消息人士称，管理层正在考虑加息、资本利得税可能征收、保险资金被要求减仓等因素或促成了本次大跌。

　　（特别提示：本文内容纯属作者个人观点，仅供投资者参考，并不构成投资建议。投资者据此操作，风险自担。）

 

[mamaomao]

Chinese stock sell-off hits world markets
Last Updated: Tuesday, February 27, 2007 | 10:47 AM ET
The Associated Press
http://www.cbc.ca/money/story/2007/02/27/chinesemarkets.html


Chinese stocks plunged nearly nine per cent Tuesday, their biggest drop in a decade, rattling markets from Hong Kong to Toronto amid fears of a slowdown in China's economy.

Investors were also spooked by comments Monday from former U.S. Federal Reserve chairman Alan Greenspan, who said a recession in the U.S. was "possible" later this year.

A passerby walks past a display showing the movements of the Hang Seng Index on an electric signboard of the Hong Kong Stock Exchange in Hong Kong Tuesday.
(Lo Sai Hung/Associated Press)

One day after sending Shanghai's benchmark index to a record, investors dumped stocks to lock in profits amid speculation about a fresh round of austerity measures from Beijing to slow the nation's sizzling economy.

The Shanghai Composite Index tumbled 8.8 per cent to close at 2,771.79, its largest decline since it fell 8.9 per cent Feb. 18, 1997, at the time of the death of Communist Party elder Deng Xiaoping.

In Hong Kong, the benchmark Hang Seng Index tumbled 1.8 per cent, while Singapore's Straits Times index sank 2.3 per cent. However, markets in Japan and Taiwan registered only modest declines.

The plunge spilled over to North America. The S&P/TSX composite index was down almost 200 points, or 1.5 per cent, in early trading. The Dow Jones industrial average was down more than 120 points, or about one per cent.



In London, the FTSE-100 dropped 2.48 per cent, France's CAC 40 dropped 2.85 per cent and Germany's DAX lost 2.43 per cent.

In another development, the price of oil skidded on speculation that a slowing Chinese economy would slice into demand for fuel. A barrel of light, sweet crude was down $1.07 at $60.32 US a barrel in pre-market trading on the New York Mercantile Exchange.

"The [rumours] that China is going to impose a capital gains tax resulted in regional markets falling," said S. Sharath, an analyst with MIDF-Amanah Investment Bank in Kuala Lumpur, Malaysia, where the benchmark index tumbled 2.8 per cent.

But Greenspan's comments also took a heavy toll on Asian markets.

"Our economy is also dependent on the U.S. economy. If there is adverse news, exports from our country are going to drop," Sharath said.
Prices have skyrocketed

Chinese share prices doubled last year as investors piled into the market following the completion of shareholding reforms that helped to reduce worries over a potential flood of shares entering the market.

But the markets have become increasingly volatile.

Market heavyweights plunged Tuesday on heavy selling by institutional investors, which in turn spooked retail investors.

Large-cap Baoshan Iron & Steel hit the 10-per-cent downside limit at 9.03 yuan, CITIC Securities fell 9.7 per cent to 36.21 yuan and China Life Insurance declined nine per cent to 33.89 yuan.

China still limits foreigners' purchases of the yuan-denominated stocks that make up the biggest share of the markets, though that is gradually changing as regulators allow increasing participation by so-called qualified foreign institutional investors.