On september 5th, the wisdom astronage news agency announced a gradual move towards “hong kong.” this has not only led to a significant increase in a-stock financial transfers in the near future, but also to a sharp increase in the exchange of rights and bears. According to analysts, derivatives follow positive stock expectations in stock prices, while positive stock expectations are about to lead markets to good expectations as port-to-port changes。
** financial swaps continue to burst**
According to the big wisdom data terminal, the five financial conversions were strong (11302. Sh), the china-china debt (113005. Sh), the national debt (110025. Sh), the people-to-people debt (110023. Sh) and the chinese debt-to-people debt (113001. Sh), all of which, as of friday (5 days) came out of their recent highs, except for the highs since march。
Following the increase since july, where most of the current debt swaps are equity-based, and where the value of the swaps provides the main support for the value of the swaps, the judgement of the september swaps market continues to depend on positive equity opportunities, while there are fewer opportunities in terms of terms and the debt base。
Pax romana investment adviser liu yunfeng, for his part, also said to the great wisdom news agency that when positive equity prices were close to conversion prices, the conversions were more equity-oriented, and that once the conversions were equity-based, they followed the pattern of positive equity。
A large voucher financial analyst has indicated to the great wisdom news agency that the probability that the financial unit will continue to move high in september is not high in basic terms, nor does it rule out a possible change in expectations. At present, although the safe share price has exceeded the transfer price, investors are advised to remain in debt and not to transfer easily. In september, the debt-transfer market continued to fluctuate with the stock market, with an approximate rate of rubber。
** hong kong certificates and bear certificates have increased dramatically**
In addition, the hong kong certificate of rights and the bear certificates were exchanged, and in july and august there was a significant increase in the trade-off between the hong kong certificate of rights (known as the “turbo”) and the cow bear certificates. The analysis suggests that, on the one hand, the hong kong stock market is improving and, on the other hand, that the prefinancing of the “test water” runs through hong kong。
According to the latest statistics published by the hong kong exchange on 4 july, following a significant increase of nearly 50 per cent in the ring share of the daily sales of both the derivatives and bear certificates in july, the number increased by 26. 1 per cent and 22. 6 per cent, respectively, in august. The distribution of derivatives and bear certificates also continued to grow significantly, with 4819 derivatives and 2067 bear certificates listed in august, with the latter increasing by 43. 3 per cent over the same period last year。
It is worth noting that the positive share of tracing in recent and active derivatives and bear certificates, which are linked to zhuang hong kong, has assumed absolute dominance, with more than 70 citibank certificates issued in august and more than 50 at the edge of the port, including aetf, port exchange offices, middle movement, telecommunications, maritime securities h, intermediate securities h, galaxy securities h, etc., all of which have been popularized and exchanged。
Liu yunfeng spoke about the driving force of the hong kong border crossing. He indicated that there was a connection with the port of quan, which, after all, involved more overlaps with the port of quan。
“in order for an investment bank to issue a licence, it must take into account liquidity and market demand. Only a large and highly liquid market in hong kong can it become an investor, so the investment bank is also primarily a blue chip. In this way, stock stocks are available, and without stock stocks, liu yunfeng cannot issue a certificate of authority。
In addition to the chase securities and investment adviser, yong-hyun has said that hong kong's license and the bear's license for july and august are closely linked to the yang-hong kong border, and should be good in september. Derivatives follow positive stock expectations that change in stock prices, while positive stock expectations change with port-to-port。
“not only is the issue of the spread of shares on the a+h market, but the bigger problem is the resulting increase in capital, which is equivalent to the opening of the southwards, and the surge in the port stock stock, which is not easy to say, when it is expected to go south in 2007, but the market now has such good expectations.”。
Link: hong kong license and bear certificate
Derivative licences (known as “turbo”) are issued by independent third parties, generally investment banks, that have no connection with listed companies or related asset issuers. Derivative certificates can be divided into subscriptions and demotions with a maximum duration of five years, but most of the derivatives in the market generally have relatively short validity periods ranging from six months to two years. Derivatives may be linked to a single or basket of stocks, a stock index, currency, commodities or futures contracts (e. G. Crude oil futures). The issuer must, at the time of issuance of the certificate of entitlement, stipulate that the receipt is in cash or in kind。
The cow bear certificate, in turn, is a structural product that reflects the performance of the assets in question and is a combination of the cow and bear certificates. The bear certificate is simpler than the wheel, regardless of time value, premium and reference band, but the bear certificate has a “receipt price”, and if the asset price touches the price, the bear certificate is immediately suspended and forcibly withdrawn. Cow and bear certificates are mainly directed in the direction of the rear market, the back market for cattle, the back market for bears, and it is easier for the diaspora to participate and to earn short-term bands, with fewer funds involved but high risk。
Published by: gorg zhenlan/chou min hui run
* the information in this paper is for reference purposes only and is used by investors to manage their own risks。
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