Shares in two big Chinese securities companies up almost a fifth in Hong Kong in a matter of days? Why, it can only be the result of another gnomic pronouncement from the Third Plenum. At the Chinese leadership’s summit last week came the decision to “promote reform towards a registration-based stock-issuing system”. Somebody likes the sound of this, whatever the detail or timetable for reviving mainland initial public offerings, judging by the shares of Citic and Haitong.
為何在短短幾天里,在香港上市的兩家中國(guó)大型證券公司的股價(jià)上漲近20%?這只能歸功于中共三中全會(huì)發(fā)布的又一條含糊不清的聲明。上周召開的中共三中全會(huì)決定“推進(jìn)股票發(fā)行注冊(cè)制改革”。從中信證券(Citic)和海通證券(Haitong)的股價(jià)走勢(shì)來看,無論內(nèi)地恢復(fù)首次公開發(fā)行(IPO)的具體情況或時(shí)間表如何,這條聲明博得了一些投資者的歡心。