Chen Jiaqiang Denied That The Government Is Studying The Ban On Short Selling.

On the morning of October 6th, Hong Kong stocks fell sharply in recent days. Last week, some people in the industry suggested that some European countries should take steps to prohibit short selling (short selling) and meet with the financial services and Finance Bureau of the government. Secretary Chen Jiaqiang denied this morning that the government was studying the rumor of implementing the measure, and pointed out that banning short selling is not a good way to prevent big cities from falling.

Hong Kong stocks fell to two and a half years, and the industry called for a temporary ban on short selling to stop the downtrend. Chen Jiaqiang, Secretary for financial services and the Treasury, said this morning that banning short selling is not the best way to prevent big cities from falling. Even Hong Kong, he said. Under the femoral Nor should we reduce the decline by banning short selling. He said that the industry also had the opinion that the ban on short selling could lead to adverse effects, and the contraction of the big market intensified.

Chen Jiaqiang stressed that it is more important to supervise short selling activities, and Hongkong was originally one of the most stringent places for global regulation. He believes that the short selling situation in the near future is almost normal. The government has always listened to the demands of all parties and will closely monitor the market situation with the regulators. If there is any violation or manipulation, the SFC will follow up with all possible efforts.

Chen Jiaqiang also pointed out that, through the market consultation of the SFC, the supervision of declaring positions will be strengthened in the near future, especially for investors holding stocks. He said he would pay close attention to unusual and operational matters before the legislation was amended. transaction Activities.

In the past week, the proportion of short selling of Hong Kong stocks rose to an average of 11.79% on the motherboard volume, which was up to 16% after the warrant transaction was completed, exceeding the data of the 2008 financial tsunami. Last week, seven major securities companies in Hongkong met with the financial services and the Treasury Bureau to request temporary imitation of the short selling activities, following the example of many European countries and the Republic of Korea. They also referred to the lack of transparency in Hongkong's short selling activities. However, the financial services and Treasury Bureau has only indicated that it will strengthen supervision over these activities.

Chen Jiaqiang also pointed out today that the recent market conditions are uncertain and the market is quite responsive to all kinds of news. It is expected that the market will continue. wave It's a long time to compete. He said the authorities would increase monitoring efforts to prevent systemic risks and would closely follow the economic situation in Hongkong.

For the European debt crisis, which is the most effective in combating investor confidence, Chen Jiaqiang believes that the most important thing is the European government's confidence in restoring the market in the short term, which requires the concerted efforts of all governments in the region. He believed that all countries should support the Greek government and prevent the spread of the crisis to other markets once the Greek debt default. Chen Jiaqiang believes that Europe should launch a comprehensive plan to prevent crises, such as raising capital and capital adequacy ratio of banks.