China Continues Decisive Steps to Ignite Growth Engine
Beijing makes a surprise announcement to curb margin trading during off-market hours on 17 April. Singapore Exchange (SGX) FTSE China A50 Index futures plunged more than 800 points during the off-market trading period and recorded more than 100,000 contracts traded. Separately, the People's Bank of China (PBOC) lowered the reserve requirement ratio (RRR) for all banks by 100 basis points to 18.5% on 20 April - the single largest cut since 2008.
On 16 April, China Financial Futures Exchange launched two new equity index futures products on the SSE50 and CSI500 indices, bringing greater depth and liquidity to the China A-share market. Since the unveiling of the two futures, the on-shore momentum has benefited the off-shore market, with the SGX FTSE China A50 Index futures product recording higher volume, averaging a total of 595,764 contracts daily.
A record daily open interest of 700,610 contracts was achieved by the SGX’s contract yesterday as investors sought entry into the world’s best-performing market. This translates to a notional value of close to US$10 billion in outstanding positions.
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Beijing makes a surprise announcement to curb margin trading during off-market hours on 17 April. Singapore Exchange (SGX) FTSE China A50 Index futures plunged more than 800 points during the off-market trading period and recorded more than 100,000 contracts traded. Separately, the People's Bank of China (PBOC) lowered the reserve requirement ratio (RRR) for all banks by 100 basis points to 18.5% on 20 April - the single largest cut since 2008.
On 16 April, China Financial Futures Exchange launched two new equity index futures products on the SSE50 and CSI500 indices, bringing greater depth and liquidity to the China A-share market. Since the unveiling of the two futures, the on-shore momentum has benefited the off-shore market, with the SGX FTSE China A50 Index futures product recording higher volume, averaging a total of 595,764 contracts daily.
A record daily open interest of 700,610 contracts was achieved by the SGX’s contract yesterday as investors sought entry into the world’s best-performing market. This translates to a notional value of close to US$10 billion in outstanding positions.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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