Stock investors losing money
By Chen Li |
July 1, 2011, Friday
|
Print Edition
Print Edition
NEARLY 70 percent of stock investors said in an online survey that they failed to make a profit in the first half of this year, blaming the country's tightening measures and a slew of new listings as reasons for their losses.
Almost 67.7 percent of 103,729 respondents said in a survey on Sina.com, as of 5pm yesterday, that they lost money trading stocks this year. Of those, 8.4 percent admitted losing more than 50 percent of their initial investment from January to June.
Only 1.8 percent, or 1,869 respondents, said they earned profits above 50 percent while another 21.6 percent said they made gains below 50 percent.
The government's battle to tame inflation was considered by 51.7 percent of those surveyed as the biggest reason the Shanghai Composite Index has dropped 1.64 percent in the first half. Another 34.2 percent said a gush of new listings was the top reason for the sluggish market.
About 56 percent of respondents said the market has already bottomed out and is ready to rebound.
For the second half of this year, 21.9 percent of those surveyed expect the Shanghai index to rebound to more than 3,500 points from the current 2,762.08. Another 63.1 percent see the market rising to between 3,000 and 3,500 points.
Respondents were most bullish about the new-energy sector with 14.1 percent saying it has the best prospects, followed by 13.1 percent who figure coal producers are the top investment while 12.7 percent are pinning their hopes on small firms, the survey showed.
Meanwhile, a total of 164 new listings on mainland markets raised a combined 171.2 billion yuan (US$26.46 billion) in the first half. The money raised from initial public offerings in the first half was down 24.1 percent from the same period in 2010, which saw 173 new listings raise a total of 225.5 billion yuan.
Almost 67.7 percent of 103,729 respondents said in a survey on Sina.com, as of 5pm yesterday, that they lost money trading stocks this year. Of those, 8.4 percent admitted losing more than 50 percent of their initial investment from January to June.
Only 1.8 percent, or 1,869 respondents, said they earned profits above 50 percent while another 21.6 percent said they made gains below 50 percent.
The government's battle to tame inflation was considered by 51.7 percent of those surveyed as the biggest reason the Shanghai Composite Index has dropped 1.64 percent in the first half. Another 34.2 percent said a gush of new listings was the top reason for the sluggish market.
About 56 percent of respondents said the market has already bottomed out and is ready to rebound.
For the second half of this year, 21.9 percent of those surveyed expect the Shanghai index to rebound to more than 3,500 points from the current 2,762.08. Another 63.1 percent see the market rising to between 3,000 and 3,500 points.
Respondents were most bullish about the new-energy sector with 14.1 percent saying it has the best prospects, followed by 13.1 percent who figure coal producers are the top investment while 12.7 percent are pinning their hopes on small firms, the survey showed.
Meanwhile, a total of 164 new listings on mainland markets raised a combined 171.2 billion yuan (US$26.46 billion) in the first half. The money raised from initial public offerings in the first half was down 24.1 percent from the same period in 2010, which saw 173 new listings raise a total of 225.5 billion yuan.
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