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CN Media: Margin Trading Conversion Rate for SMIC Adjusted to Zero
Recommend 21 Positive 25 Negative 21 |
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This afternoon (9th), investors reported receiving text messages from Eastmoney Securities saying that, with effect from today, the conversion rate for SMIC (688981.SH)/ BIWIN STORAGE (688525.SH) held in credit accounts was adjusted from 0.70/ 0.50 to 0.00/ 0.00, according to Chinese media. East Eastmoney Securities' customer service confirmed the above information, and said that, according to exchange regulations, if a stock's trailing PE ratio exceeds 300x or is negative, its margin trading conversion rate will be adjusted to zero. Both stocks mentioned above have trailing PE ratios exceeding 300x. SMIC declined after midday, and closed down 0.9% to RMB138.91. SMIC's H-shares last slumped 6.3% to $83.85. AAStocks Financial News Website: www.aastocks.com |
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