Brokers partly blamed for investors' losses
By Louise Ho |
March 15, 2012, Thursday
|
Print Edition
Print Edition
BROKERS are partly to blame for the heavy losses of retail investors last year on China's board for start-up companies because they did not advise the investors of the possible risks involved, a senior stock exchange official said yesterday.
Song Liping, general manager of Shenzhen Stock Exchange, pointed out that the retail investors suffered the most losses on ChiNext, the Chinese equivalent of Nasdaq, among the three boards which also include the main exchange and the Growth Enterprise Board.
"The majority of people who have suffered losses from a high share price on the first day of IPO trading are retail investors," she said.
ChiNext takes up 90 percent of trading among the three boards, Song said at an investors' function in Shenzhen.
If brokers had offered sound investment advice to investors, it could have effectively curb speculation in new shares on their debut, she said, adding the brokers should advise them to buy products which offer lower risks.
The bourse surveyed 3,000 retail investors aged 25 to 55 in eight Chinese cities, such as Beijing and Shanghai, between December 2011 and January this year.
Song Liping, general manager of Shenzhen Stock Exchange, pointed out that the retail investors suffered the most losses on ChiNext, the Chinese equivalent of Nasdaq, among the three boards which also include the main exchange and the Growth Enterprise Board.
"The majority of people who have suffered losses from a high share price on the first day of IPO trading are retail investors," she said.
ChiNext takes up 90 percent of trading among the three boards, Song said at an investors' function in Shenzhen.
If brokers had offered sound investment advice to investors, it could have effectively curb speculation in new shares on their debut, she said, adding the brokers should advise them to buy products which offer lower risks.
The bourse surveyed 3,000 retail investors aged 25 to 55 in eight Chinese cities, such as Beijing and Shanghai, between December 2011 and January this year.
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