Yesterday, the Shanghai and Shenzhen stock markets showed a horizontal consolidation trend of rising and falling, and the blue chips in the market closed down one after another. As expected in this column yesterday, the new subscription certificates were relatively resistant to decline, and most of them rose in the closing. China Southern Airlines' put warrant took advantage of the weakness in the market, and there was a strong rally. It reached the highest point of 0.753 yuan at about 10:30 a.m., up 21.06%. Later, it fell back to only 10.61% at the closing, ranking first in the list of gains in the power market. The turnover was nearly twice as large as that on Monday.
Secondary subscription certificate Rizhao CWB1 Stimulated by the expected increase in the first quarter's performance of the positive shares, the market opened sharply higher, with the largest increase of more than 7% in the session. However, due to the high premium rate, there was not much follow through, and the shock fell back to 3.73%, ranking the second in the stock market. Jiangxi Guangdong CWB1 also showed a strong performance, up more than 6% at most, but the carry out offer was under heavy selling pressure, and the closing price was less than 2% as the Shenzhen High CWB1. ZTE ZXC1, Sinopec CWB1 and COSCO CWB1, which were listed this year, all turned red in late trading, up less than 1%.
In addition, Shenzhen Development announced that the starting date of SFC2 exercise was advanced from Monday, May 19, 2008 to Friday, May 16, 2008, and the end date of exercise was still Friday, June 27, 2008, because Shenzhen Stock Exchange would be closed during the Dragon Boat Festival holiday (June 7 to June 9, 2008). Only when the exercise time is advanced can the exercise period of SZSE SFC2 be ensured to be the last 30 trading days of the warrant duration. Yesterday, the closing price of Shenzhen Development A was 29.67 yuan, and the exercise price of Shenzhen Development SFC2 was 19.00 yuan. Therefore, the intrinsic value of Shenzhen Development SFC2 was 10.67 yuan, far lower than its closing price of 14.93 yuan yesterday, and the premium rate was about 13%. Therefore, investors mainly focus on losing pounds when the price is high, and remember not to chase the price blindly. Zhang Biao
