Ipo- Intial Public Offering

Quote:

Originally Posted by BadThad

Damnit, down as low as $28.88 today.

I'm going to hold, I still feel confident in this stock, especially as a long term hold.

This IPO has been a disappointment eh? So far anyway....LT probably a good investment...I have some shares that I bought after the first time I got stopped out...but my holding is modest...my plan is to hang onto these shares for a year for lt cap gains rates (lets just hope I have some cap gains to pay on them after a year...lol)

Anyway - Interesting article...

"China's First-Quarter Share Turnover Surges Almost Seven-fold

By Zhang Dingmin and Zhao Yidi

May 11 (Bloomberg) -- China's stock trading volume surged to 7.5 trillion yuan ($970 billion) in the first quarter, up 580 percent from a year earlier, as more people opened trading accounts to benefit from the country's rapid economic growth.

Daily turnover jumped almost seven-fold from 2006 to 131.6 billion yuan in the first three months, as investors opened 8.7 million new accounts to trade shares, or 1.7 times more than those opened in 2006, the People's Bank of China said in its first-quarter monetary policy report yesterday. Stamp duty revenue rose 516 percent to 12.2 billion yuan, the report said.

China's key CSI 300 Index, which tracks yuan-denominated A shares listed on China's two exchanges, rose 80 percent this year, attracting more investors as inflation accelerated and interest rates stayed low. The market boom and improving social security protection will boost spending in an economy that expanded 11.1 percent in the first quarter, according to the report.

The booming Chinese stock market diverted savings from banks, which partly caused growth in local-currency deposits to slow by 3.7 percentage points to 15.9 percent in the first quarter, the central bank said.

The central bank said it will ``promote the healthy development of the capital market'' and ``co-ordinate the scale and structure of direct and indirect financing.''

The stock market accounted for only 5.6 percent of total funding by non-financial Chinese companies and the government last year, as compared with 82 percent through bank loans, the central bank said in an earlier report."