China's fund managers told to silence negative comments on stock market

Thursday, August 7, 2008

This is a huge avalanche that's about to dwarf all other markets,
China is already on it's way, sliding down into the slippery slide and the fall will be loud, because it is the ordinary Chinese investors who are about to lose all their investments...The trigger to watch

www.irishtimes.com...

CHINA'S SECURITIES regulator is warning fund managers to avoid comments that might "negatively affect" China's deflating stock market in order to ensure a "harmonious and successful Olympic Games".

In a strongly worded notice to local fund houses, the China Securities and Regulatory Commission (CSRC) stressed that "stability is the top priority of the regulator". It said that some people working in the financial industry had recently made "improper and inaccurate comments" and that staff lacked "considerate thoughts".

Fund companies should "better monitor speeches by employees" and should be "very careful" about public utterances and blog content. Companies that "disobey the rules or have [ negative] social impact" should "take responsibility for the results".

The CSRC also ordered staff not to comment publicly on the trend of stock indices, provide stock tips, comment on investment portfolios or say anything that might damage the "good image of the fund industry".

reply to post by Dubyakadubla


Put your head in the sand.. it'll allllll go away....

Why we still have economic connections with this # hole country is beyond me..

Though I imagine the Fed here in America is crying with envy.. if only they could quite the American commentators.. why they could sacrifice pensions to save the stocks of the wealthy like in the Good Ol' Day's of 2001..

Us....

S.E.C. Warns Wall Street About Rumor-Mongering

The Securities and Exchange Commission announced on Sunday that it and other regulators would begin examining rumor-spreading intended to manipulate securities prices.

The timing of the announcement, made before the markets opened in Asia, was meant to warn broker-dealers, hedge funds and investment advisers to quell any spreading of rumors before trading started Monday. Full Text

Them....

China's fund managers told to silence negative comments on stock market

CHINA'S SECURITIES regulator is warning fund managers to avoid comments that might "negatively affect" China's deflating stock market in order to ensure a "harmonious and successful Olympic Games". Full Text

I dunno...you tell me

reply to post by OBE1


Excellent find... so this is where Bush learned his dirty little secrets from...

reply to post by OBE1


Good One....Chinese also have their own SEC (Sound Economic Corruption)

Bush is there to remind them that it will be impossible to pay their massive debts and to 'faa..get abbbout tit'

reply to post by Rockpuck

Hi RP

Personal opinion. On the topic of official censorship, the chicken or the egg debate becomes a distant sidebar.

After the initial SEC warning, I witnessed several posters on stock-boards I frequent become intimidated...actually afraid to share their honest opinions with respect to specific financial stocks. I'm talking about little people...everyday people...from garden variety day traders...to long-term mom & pop investors. Imo, hardly a group whose words on an Internet chat-board could significantly influence the market.

But honestly, in the context of the broader thread topic (Big Brother), who with a brain hasn't experienced a small wave of apprehension when posting certain opinions...on certain websites? Intimidation works. Strange how I find myself gradually becoming acclimatized to this new reality.

Anyway, here's my main complaint with this thing. The people whose words actually do have the power to mislead shareholders and move markets...have been making very public, blatant, false-positive statements about their company's capitalization...right up to moment they either fail...or go into the market!

Bare-bones atention from MSM...zip from the regulators.

Regrettable Comments by Bank CEOs

OBE1

The SEC keeps tight control over who can and who cannot advise or even comment on stocks.. that has never been a secret..

People on message boards should never really advise someone to put money here or there or what options to exercise .. unless they are licensed to do so. As a day-trader my self, I can talk about what I do, how I do it, and how, in general, it can benefit someone else. The SEC has no power over me unless I am willfully advising, suggesting, taking advantage of and actually BROKERING the sale of a Security product.

The fact that the SEC is targeting people who preach one side of the story, yet neglecting to comment on illegal activities being taken apart by CEO's and CFO's and various other abbreviation's .. is disgusting. Shows the agenda at hand.

At least.. last I checked when a spokesperson much less a CEO says blatant and knowingly false information to motivate the movement of various securities exchanges constituted fraud among other things. Of course... anyone who actually believed the CEO's of banks who said their capital was all fine and dandy deserve to loose what they did..

Just a shame many Mutual Funds/401K's where invested in banking .. as it was "safe" and "low risk" ..

Have you seen the YTD records for the largest funds in the country this year? .. once big shot investors managing these funds are down 40+% .. much of which disappeared entirely.. imagine being 55 and looking at your 401K and seeing 44% of it gone..

As Olympics Open, China's Economy Slows

On the eve of the Olympics, all eyes are on Beijing. Beyond the spectacular architecture (BusinessWeek.com, 7/30/08) and staging at the Olympic Green, another scene, decidedly less euphoric, is playing out in factories across the country. "As the day of the long-awaited opening ceremony arrives, China's economy is indeed slowing," writes Jing Ulrich, Hong Kong-based chairman of China Equities with JPMorgan (JPM), in an Aug. 7 research note. A slowdown in export growth is "rippling across the economy," she adds. "New orders at factories have declined, and the country's property market has seen a sharp drop in transaction volumes."........Full Article

Well certainly their amazing growth cannot go on forever.. for them though it could be "harder" in the sense that as a new economy they have never seen the decline of their pseudo-capitalistic economy, and thus, do not have the regulations and manipulations like we in the West do.

Once the games are over, and the hype ends, China will certainly continue it's decline .. as a servicer to the Post-Industrial World, when we go through a tough recession, they get a depression.

Hiring 100 people to do 1 mans job will continue to hide their failings though ...

reply to post by Rockpuck

As you probably know RP, rampant pumping/bashing occurs all day...everyday on the unmoderated boards...with the occasional libel suit that rarely amount to a hill of beans. Most moderated stockboards are dedicated to all elements of intelligent market discussion...even stock-pics...but be prepared to offer logical support. This little requirement seems to discourage most of the riff-raff...besides, you can feel the tenor of a specific board as soon as you log-on. I agree, folks offering unsolicited stock-pics, or making inappropriate 'Full Disclosures' should be suspect...anywhere...especially on non-stock forums.

With regard to the recent SEC warning, it's my opinion that it was heavy-handed...manipulative...and in part, intended to silence legitimate public opinion. The spin is getting tired...we know these banks are far from healthy.....see WM (another -3.3BB)...there, I said it...WAMU! If I don't post-up for seven consecutive days...please RP, call my attorney!

A few metrics for gaging a measly 1BB...picked-up on the web tonight:

A. A billion seconds ago it was 1959.

B. A billion minutes ago Jesus was alive.

C. A billion hours ago our ancestors were living in the Stone Age.

D. A billion days ago no-one walked on the earth on two feet.

E. A billion dollars ago was only 8 hours and 20 minutes at the rate our government is spending it.


I apologize for veering so far off-topic Dubyakadubla. Poor China...only 8% growth forecast for 09. US forecast: 2.2%...soon to be revised south no doubt.

I won't be surprised to see Beijing gearing back-up a bit after the Olympic Games.