Schneider Electric Expands Youth Partnership with Enactus to Drive Inclusive Energy Transition in Egypt    China's Jiangsu Zhengyong to build $85m factory in Egypt's Ain Sokhna: SCZONE    Egyptian pound ticks up vs. US dollar at Thursday's close    Egypt condemns Israeli plan to build 3,400 settler homes in West Bank    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Egypt, Namibia explore closer pharmaceutical cooperation    Egypt, China ink $1bn agreement for Sailun tire plant in SCZONE    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egypt's Electricity Minister discusses progress on Greece power link    Egypt's FM discusses Gaza, bilateral ties in calls with Saudi, South African counterparts    Egypt prepares to tackle seasonal air pollution in Nile Delta    27 Western countries issue joint call for unimpeded aid access to Gaza    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Australia to recognise Palestinian state in September, New Zealand to decide    Egypt, Huawei explore healthcare digital transformation cooperation    Global matcha market to surpass $7bn by 2030: Nutrition expert    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt, Uganda strengthen water cooperation, address Nile governance    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Korean Cultural Centre in Cairo launches folk painting workshop    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Chinese shares face pressure with 22 new offerings in coming week
Published in Amwal Al Ghad on 12 - 01 - 2015

Chinese shares are likely to face downward pressure in the upcoming week as investors are expected to hold more cash for 22 new share offerings.
It will be the eighth round, and the largest wave of new share offerings, since last June when the China Securities Regulatory Commission, the securities watchdog, restarted the initial public offering (IPO) market.
For the next five trading days, Wednesday alone will see 10 new offerings, Thursday to have another 6 offerings, while each of the other three trading days will have 2 new offerings.
Like the previous seven rounds of new offerings, this round is expected to cause frenzied subscription as investors bet on handsome first-day gains.
Price of new stocks had always surged on the first trading day, with an average first-day gain of 43 percent in 2014, which had enabled them to regain reputation as can't-lose best in China.
Figures released by China's data company Wind indicated that the 22 new IPOs are expected to raise a total fund of 12.2 billion yuan (2 billion U.S. dollars).
Zhang Xiaojiao, a securities analyst with BOC International, said these new offerings were expected to lock up a bidding fund of 2.28 trillion yuan.
Frenzied subscription in the previous seven batches since last June had witnessed some new offerings that attracted more than 200 times oversubscription at best, while others were 50 times oversubscribed at worst.
Worry of liquidity pressure owing to the 22 new share offerings is believed to have played a part in Friday's dramatic ups and downs of the Chinese share markets.
The key Shanghai index soared 3.38 percent in the afternoon trading session on Friday, before nosediving into negative territory in the final 30 minutes and closing 0.24 percent lower.
In 2014, the Chinese mainland stock market saw 125 IPOs, raising 78.7 billion yuan, consultancy Deloitte said.
Chinese shares, which had been bearish for about six years, had staged an extraordinary rally in the second half of 2014 and created a bull run amid huge daily turnover. The key Shanghai index jumped 53 percent in 2014.
Source: Xinhua


Clic here to read the story from its source.