Warrant turnover hit a new low in nearly a month
http://www.sina.com.cn 05:39, July 10, 2007 China Securities Journal
□ Our reporter Xu Haiyang
Hot stocks, cold warrants. While the stock market has gradually warmed up recently, the hype in the warrant market has been cooling down. This cooling is reflected in the fact that the turnover and turnover rate in the warrant market have shown a downward trend. Yesterday, the total turnover of warrants in the two markets was only 55.485 billion yuan, creating a new low since June 4.
Since the market crash at the end of May, there have been two rounds of quotations in the warrant market, focusing on June 11-14 and June 25-27 respectively. During this period, there have been relatively obvious leading varieties in the warrant market, and the turnover of warrants in both cities is 100 billion yuan or more. After June 27, the warrant market began to weaken, with obvious shrinking characteristics in turnover and turnover. For example, on June 26, the warrants in the two markets traded 137.09 billion yuan, with a turnover rate of 224.49%. By yesterday, these two figures had dropped to 55.485 billion yuan and 193.34% respectively.
From the performance of specific warrant varieties, due to the sharp rise in the positive stock market, the trend of call warrants is slightly stronger than that of put warrants. However, the rise and fall of each variety is not large, and the rise and fall of put and call warrants are not strictly based on the performance of related positive shares, which seems to be a note of the cooling down of the warrant market. Overseas Chinese Town HQC1 rose 9.81% in the final trading yesterday, driven by the positive shares, which was the largest increase among all warrants. However, its current discount rate is still 6.90%. The performance of most other warrants is not ideal, for example, Yunhua CWB1, WISCO CWB1, Steel Vanadium GFC1 Guodian JTB1 All of them fell against the background of positive stock rising. and CMB CMP1 、 Wuliang YGP1 、 Valin JTP1 、 CIMC ZYP1 Such put warrants can not be explained by ordinary theories, even if they rise against the positive shares.
