Profile - To The Moon

Sakeboy

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- SakeboySakeboy
  ·2021-06-08
  $BlackBerry(BB)$To the moon apes
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- SakeboySakeboy
  ·2021-04-14
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  Sorry, this post has been deleted
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- SakeboySakeboy
  ·2021-04-14
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- SakeboySakeboy
  ·2021-04-03
  $Playags Inc.(AGS)$Help
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- SakeboySakeboy
  ·2021-04-03
  Wow
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- SakeboySakeboy
  ·2021-04-03
  Wow
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- SakeboySakeboy
  ·2021-04-03
  Oo no
  How Likely Is a Stock Market Crash?
  You may not like the answer. For the past year, investors have enjoyed one of the greatest bounce-b
  How Likely Is a Stock Market Crash?
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- SakeboySakeboy
  ·2021-04-02
  Mmm interesting
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- SakeboySakeboy
  ·2021-04-02
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  Shanghai bourse tightens scrutiny over corporate bond issuance
  SHANGHAI, April 2 (Reuters) - The Shanghai Stock Exchange $(SSE)$ said on Friday it is tightening sc
  Shanghai bourse tightens scrutiny over corporate bond issuance
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- SakeboySakeboy
  ·2021-04-02
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no","listText":"Oo no","text":"Oo no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/340488401","repostId":"1191998262","repostType":4,"repost":{"id":"1191998262","kind":"news","pubTimestamp":1617366158,"share":"https://ttm.financial/m/news/1191998262?lang=en_US&edition=fundamental","pubTime":"2021-04-02 20:22","market":"us","language":"en","title":"How Likely Is a Stock Market Crash?","url":"https://stock-news.laohu8.com/highlight/detail?id=1191998262","media":"Motley Fool","summary":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-b","content":"<blockquote>\n You may not like the answer.\n</blockquote>\n<p>For the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmark<b>S&amp;P 500</b>(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.</p>\n<p>But there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.</p>\n<p>It begs the question: How likely is astock market crash? Let's take a closer look.</p>\n<p><b>Double-digit declines occur every 1.87 years, on average</b></p>\n<p>To begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&amp;P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&amp;P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.</p>\n<p>However, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.</p>\n<p>We could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.</p>\n<p><b>Corrections have been an historical given within three years of a bear market bottom</b></p>\n<p>Another interesting piece of evidence to examine is the frequency by which the S&amp;P 500 corrects after hitting a bear-market bottom.</p>\n<p>Since the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).</p>\n<p>Put another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.</p>\n<p><b>Crashes frequently occur when this valuation metric is hit</b></p>\n<p>But the most damning bit of evidence might just be the S&amp;P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.</p>\n<p>As of the close of business on March 30, the S&amp;P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.</p>\n<p>To some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.</p>\n<p>However, previous instances of the S&amp;P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.</p>\n<p><b>Keep that cash handy in the event that opportunity knocks</b></p>\n<p>To circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.</p>\n<p>While this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.</p>\n<p>The reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&amp;P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&amp;P 500 been negative.</p>\n<p>If you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&amp;P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How Likely Is a Stock Market Crash?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow Likely Is a Stock Market Crash?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191998262","content_text":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.\nBut there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.\nIt begs the question: How likely is astock market crash? Let's take a closer look.\nDouble-digit declines occur every 1.87 years, on average\nTo begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.\nHowever, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.\nWe could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.\nCorrections have been an historical given within three years of a bear market bottom\nAnother interesting piece of evidence to examine is the frequency by which the S&P 500 corrects after hitting a bear-market bottom.\nSince the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).\nPut another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.\nCrashes frequently occur when this valuation metric is hit\nBut the most damning bit of evidence might just be the S&P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.\nAs of the close of business on March 30, the S&P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.\nTo some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.\nHowever, previous instances of the S&P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.\nKeep that cash handy in the event that opportunity knocks\nTo circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.\nWhile this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.\nThe reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&P 500 been negative.\nIf you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2523,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340367476,"gmtCreate":1617342090095,"gmtModify":1704699014030,"author":{"id":"3574665432353483","authorId":"3574665432353483","name":"Sakeboy","avatar":"https://static.tigerbbs.com/7ce50ede8b11d07826c65e52c2ec93e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574665432353483","idStr":"3574665432353483"},"themes":[],"htmlText":"Mmm interesting&nbsp;","listText":"Mmm interesting&nbsp;","text":"Mmm interesting","images":[{"img":"https://static.tigerbbs.com/a54ab2df4dae9fee3e93efa038838860","width":"1125","height":"3337"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/340367476","isVote":1,"tweetType":1,"viewCount":3545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":340367540,"gmtCreate":1617342063280,"gmtModify":1704699013700,"author":{"id":"3574665432353483","authorId":"3574665432353483","name":"Sakeboy","avatar":"https://static.tigerbbs.com/7ce50ede8b11d07826c65e52c2ec93e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574665432353483","idStr":"3574665432353483"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/340367540","repostId":"2124731955","repostType":4,"repost":{"id":"2124731955","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1617337730,"share":"https://ttm.financial/m/news/2124731955?lang=en_US&edition=fundamental","pubTime":"2021-04-02 12:28","market":"sh","language":"en","title":"Shanghai bourse tightens scrutiny over corporate bond issuance","url":"https://stock-news.laohu8.com/highlight/detail?id=2124731955","media":"Reuters","summary":"SHANGHAI, April 2 (Reuters) - The Shanghai Stock Exchange $(SSE)$ said on Friday it is tightening sc","content":"<p>SHANGHAI, April 2 (Reuters) - The Shanghai Stock Exchange <a href=\"https://laohu8.com/S/SSE\">$(SSE)$</a> said on Friday it is tightening scrutiny over corporate bond issuance, and has punished a brokerage for lax due-diligence in bond underwriting.</p>\n<p> The move comes after Chinese exchanges strengthened inspections on initial public offerings (IPOs), as regulators seek to limit financial risks while promoting growth of China's capital markets.</p>\n<p> China has about $4.5 trillion of outstanding corporate bonds, traded on the country's exchanges and the interbank market. </p>\n<p> SSE, China's main exchange for corporate bond trading, said it has launched onsite inspections on select bond issuance applicants with a focus on robustness of due diligence by underwriters. </p>\n<p> The bourse said in a statement it publicly censured metal products maker Ningxia Yuangao Industrial Group Co for \"fake\" and inadequate disclosure ahead of its default, and sent warning letters to its underwriter Huaxi Securities Co and its law firm. </p>\n<p> Ningxia Yuangao could not be reached immediately for comment. Huaxi Securities said it had nothing to add to what the SSE said.</p>\n<p> China is stepping up reforms of its capital markets. It has adopted a U.S.-style registration system for securities issuance on SSE's Nasdaq-style STAR Market, as well as SSE's corporate bond market. </p>\n<p> But signs of lax due-diligence by underwriters led to regulators tightening screws on IPOs late last year. Over 100 companies have suspended their IPO process since December, many withdrawing applications voluntarily.</p>\n<p> China's top securities regulator Yi Huiman said last month that the registration-based IPO system doesn't mean lower bars for listing, vowing to punish underwriters who try to bring \"sick\" companies to the IPO market. </p>\n<p> SSE said that its inspectors of bond issuances would take a page from the playbook of those in the IPO market.</p>\n<p> On-site inspections, which last <a href=\"https://laohu8.com/S/AONE\">one</a> to two weeks and involve queries, interviews, and checking backup materials, are aimed at bolstering the quality of information disclosure and due-diligence, SSE said. </p>\n<p> (Reporting by Samuel Shen and Andrew Galbraith; Editing by Muralikumar Anantharaman)</p>\n<p>((samuel.shen@thomsonreuters.com; +86 21 20830018; Reuters Messaging: samuel.shen.thomsonreuters.com@reuters.net))</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Shanghai bourse tightens scrutiny over corporate bond issuance</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShanghai bourse tightens scrutiny over corporate bond issuance\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-04-02 12:28</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SHANGHAI, April 2 (Reuters) - The Shanghai Stock Exchange <a href=\"https://laohu8.com/S/SSE\">$(SSE)$</a> said on Friday it is tightening scrutiny over corporate bond issuance, and has punished a brokerage for lax due-diligence in bond underwriting.</p>\n<p> The move comes after Chinese exchanges strengthened inspections on initial public offerings (IPOs), as regulators seek to limit financial risks while promoting growth of China's capital markets.</p>\n<p> China has about $4.5 trillion of outstanding corporate bonds, traded on the country's exchanges and the interbank market. </p>\n<p> SSE, China's main exchange for corporate bond trading, said it has launched onsite inspections on select bond issuance applicants with a focus on robustness of due diligence by underwriters. </p>\n<p> The bourse said in a statement it publicly censured metal products maker Ningxia Yuangao Industrial Group Co for \"fake\" and inadequate disclosure ahead of its default, and sent warning letters to its underwriter Huaxi Securities Co and its law firm. </p>\n<p> Ningxia Yuangao could not be reached immediately for comment. Huaxi Securities said it had nothing to add to what the SSE said.</p>\n<p> China is stepping up reforms of its capital markets. It has adopted a U.S.-style registration system for securities issuance on SSE's Nasdaq-style STAR Market, as well as SSE's corporate bond market. </p>\n<p> But signs of lax due-diligence by underwriters led to regulators tightening screws on IPOs late last year. Over 100 companies have suspended their IPO process since December, many withdrawing applications voluntarily.</p>\n<p> China's top securities regulator Yi Huiman said last month that the registration-based IPO system doesn't mean lower bars for listing, vowing to punish underwriters who try to bring \"sick\" companies to the IPO market. </p>\n<p> SSE said that its inspectors of bond issuances would take a page from the playbook of those in the IPO market.</p>\n<p> On-site inspections, which last <a href=\"https://laohu8.com/S/AONE\">one</a> to two weeks and involve queries, interviews, and checking backup materials, are aimed at bolstering the quality of information disclosure and due-diligence, SSE said. </p>\n<p> (Reporting by Samuel Shen and Andrew Galbraith; Editing by Muralikumar Anantharaman)</p>\n<p>((samuel.shen@thomsonreuters.com; +86 21 20830018; Reuters Messaging: samuel.shen.thomsonreuters.com@reuters.net))</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2124731955","content_text":"SHANGHAI, April 2 (Reuters) - The Shanghai Stock Exchange $(SSE)$ said on Friday it is tightening scrutiny over corporate bond issuance, and has punished a brokerage for lax due-diligence in bond underwriting.\n The move comes after Chinese exchanges strengthened inspections on initial public offerings (IPOs), as regulators seek to limit financial risks while promoting growth of China's capital markets.\n China has about $4.5 trillion of outstanding corporate bonds, traded on the country's exchanges and the interbank market. \n SSE, China's main exchange for corporate bond trading, said it has launched onsite inspections on select bond issuance applicants with a focus on robustness of due diligence by underwriters. \n The bourse said in a statement it publicly censured metal products maker Ningxia Yuangao Industrial Group Co for \"fake\" and inadequate disclosure ahead of its default, and sent warning letters to its underwriter Huaxi Securities Co and its law firm. \n Ningxia Yuangao could not be reached immediately for comment. Huaxi Securities said it had nothing to add to what the SSE said.\n China is stepping up reforms of its capital markets. It has adopted a U.S.-style registration system for securities issuance on SSE's Nasdaq-style STAR Market, as well as SSE's corporate bond market. \n But signs of lax due-diligence by underwriters led to regulators tightening screws on IPOs late last year. Over 100 companies have suspended their IPO process since December, many withdrawing applications voluntarily.\n China's top securities regulator Yi Huiman said last month that the registration-based IPO system doesn't mean lower bars for listing, vowing to punish underwriters who try to bring \"sick\" companies to the IPO market. \n SSE said that its inspectors of bond issuances would take a page from the playbook of those in the IPO market.\n On-site inspections, which last one to two weeks and involve queries, interviews, and checking backup materials, are aimed at bolstering the quality of information disclosure and due-diligence, SSE said. \n (Reporting by Samuel Shen and Andrew Galbraith; Editing by Muralikumar Anantharaman)\n((samuel.shen@thomsonreuters.com; +86 21 20830018; Reuters Messaging: samuel.shen.thomsonreuters.com@reuters.net))","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3733,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340367177,"gmtCreate":1617342042599,"gmtModify":1704699012883,"author":{"id":"3574665432353483","authorId":"3574665432353483","name":"Sakeboy","avatar":"https://static.tigerbbs.com/7ce50ede8b11d07826c65e52c2ec93e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574665432353483","idStr":"3574665432353483"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/340367177","repostId":"1177633890","repostType":4,"isVote":1,"tweetType":1,"viewCount":3477,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"followers","isTTM":true}