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Their varsity team is called Wake Forest Demon Decons.; Their varsity team is called Wake Forest Demon Decons.
Topic Started: May 24 2018, 03:19 AM (17 Views)
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Investors monitor stock prices at a securities company’s outlet in Shanghai in this file photo. Mainland investors appear cool so far on today’s launch of the Shanghai-Hong Kong Stock Connect scheme. — Zhang Suoqing
TODAY’S launch of the stock connect scheme allowing Shanghai and Hong Kong investors to trade on each other’s bourse will be a mostly one-way street Adidas Ryan Kesler Jersey , with foreign money pouring into China’s mainland, but little to entice mainland cash southward for now.


Overseas stock exchanges have long been hoping to attract a share of the mainland’s massive personal deposits — worth 50.4 trillion yuan (US$8.2 trillion) in September — but mainland investors have been unmoved.


They showed scant enthusiasm for the Qualified Domestic Institutional Investor program, which lets Chinese citizens buy shares in foreign companies through mutual funds, most of them focused on the United States.


“Despite the upswing in the US (markets) Adidas Ryan Getzlaf Jersey , we haven’t seen distinct improvement in demand for QDII products,” said Howhow Zhang, fund analyst at Z-Ben Advisors in Shanghai. Analysts estimate that only 25-35 percent of the available QDII quota has been sold to mainland investors.


Punters cool to stock linkup


Domestic punters appear similarly cool on the connector.


“There are around 3 million retail investors who are eligible for the (stock connect) program, given the minimum asset requirement Adidas Andrew Cogliano Jersey ,” said Lu Wenjie, China equity analyst at UBS in Shanghai, citing official data from the exchanges.


“So far only 2 percent of them have signed up.” The percentage of those with the intention to trade is much lower.


The Chinese government set an asset requirement for mainland investors into Hong Kong at 500,000 yuan in securities and cash deposits Adidas Cam Fowler Jersey , while the China Household Finance Survey published in 2013 found the average Chinese urban resident had 2.4 million yuan in net assets. And many suspect that understates their actual wealth, thanks to widespread tax evasion.


Lu said one problem with the connect program was that Hong Kong stocks don’t offer those who hold mainland A shares much opportunity for portfolio diversification.


“Domestic investors seek assets with low correlation with mainland assets. But Hong Kong stocks are highly correlated with the A-share market, so they don’t really qualify.”


Even so, there are reasons to think that the trickle could swell in time.


Triple-digit returns on real estate investment have kept most domestic investors out of stocks Adidas Corey Perry Jersey , but as housing prices slide in China, analysts predict they will warm to stocks again, especially individual stocks, rather than the funds that were available — and largely scorned — through QDII.


On Friday Authentic Ryan Kesler Jersey , the Ministry of Finance said individual mainland investors would get temporary exemptions on income tax for three years when investing in Hong Kong shares.


There are also some things mainland investors would only be able to do in Hong Kong — including trade stocks such as Tencent that only have listings there, or buy and sell a stock on the same day. Hong Kong is also not bound by the 10 percent daily movement caps that apply to their northern neighbors.


And brokerages are trying hard to drum up business, too.


Wang Jianqiang, a 53-year-old Shanghai resident and long-time A-share investor Authentic Ryan Getzlaf Jersey , opened a stock connect account two weeks ago with 1 million yuan in cash, enticed by a 0.025 percent commission rate offered by Guangfa Securities.


He also is looking at playing Hong Kong’s more liberalized derivatives market, and his brokerage is happy to indulge him.


“The manager asked me if I’m interested in opening a margin account, and gave me 3 million yuan in credit Authentic Andrew Cogliano Jersey ,” he said.



NORTH Korea conducted a live-fire exercise yesterday to mark the foundation of its military. At the same time, a US submarine docked in South Korea in a show of force.


The port call by the USS Michigan came as a US aircraft carrier strike group steamed toward Korean waters and as top envoys from South Korea, Japan and the United States met in Tokyo.


Fears have risen in recent weeks that North Korea would conduct another nuclear test or long-range missile launch in defiance of UN sanctions.


But instead of a nuclear test or missile launch, it deployed a large number of long-range artillery units in the region of Wonsan on its east coast for a live-fire drill Authentic Cam Fowler Jersey , South Korea’s military said. North Korea has an air base in Wonsan and missiles have been tested there.


“North Korea is conducting a large-scale firing drill in Wonsan areas this afternoon,” South Korea’s Office of Joint Chiefs of Staff said in a statement.


The South Korean military was monitoring the situation and “firmly maintaining readiness.” it said.


South Korea’s Yonhap News Agency said earlier the exercise was possibly supervised by North Korean leader Kim Jong Un.


North Korea’s state media was defiant in a commentary marking the 85th anniversary of the foundation of the Korean People’s Army, saying its military was prepared “to bring to closure the history of US scheming and nuclear blackmail.”


“There is no limit to the strike power of the People’s Army armed with our style of cutting-edge military equipment including various precision and miniaturized nuclear weapons and submarine-launched ballistic missiles,” the official Rodong Sinmun newspaper said in a front-page editorial.


North Korea’s growing nuclear and missile threat is perhaps the most serious security challenge confronting US President Donald Trump. He has vowed to prevent North Korea being able to hit the United States with a nuclear missile and has said all options are on the table Authentic Corey Perry Jersey , including a military strike.


Trump sent the USS Carl Vinson aircraft carrier strike group for exercises off the Korean Peninsula as a warning to North Korea and a sho

SEOUL, Sept.


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