China central bank warns against same-day stock trading
April 30, 2014 Leave a comment
China central bank warns against same-day stock trading
Tue, Apr 29 2014
By Pete Sweeney
SHANGHAI (Reuters) – The People’s Bank of China (PBOC) warned against implementing a same-day trading system for mainland stocks on Tuesday, as securities regulators consider how best to protect retail investors from manipulation by institutional funds.
“On the surface, ‘T+0’ trading can certainly help investors respond to changes in market sentiment in a timely way, locking in profits and preventing losses from widening; you can also say it would invigorate the market and improve revenues at brokerages, but the risks in T+0 trading are hard to ignore,” the PBOC wrote in its 2014 Financial Stability Report.
Read more at http://www.reuters.com/article/2014/04/30/us-china-stocks-t-idUSBREA3T01I20140430