摘要
证券市场股价指数的变动是受多因素影响的。股价指数是国民经济的“晴雨表” ,其波动与经济增长的总体趋势同步。货币政策包括扩张性货币政策和紧缩性货币政策。央行政策操作改变货币供给量 ,货币供给量的变化影响利率 ,利率与股票价格成反向关系。扩容是迅速扩大市场份额的有效途径 ,就资金面的变化而言 ,扩容对股价指数的影响属于利空题材。加入WTO有利于中国经济的迅速增长 ,会加速股票市场对外开放的进程 ,有利于企业拓宽融资渠道 ,有利于中国证券市场主流热点及板块的产生 ,有利于激发中国各行业的竞争意识 ,加速企业技术进步 ,调整产业结构 ,加速重组、联合、兼并的进程 ,提高综合竞争力。同时 ,加入WTO ,外资必然以各种面目染指中国股市 ,国际游资或炒家会乘机而入 。
The fluctuation of stock price index on the securities market is subject to many factors. The stock price index is the 'barometer' of national economy whose general trend of fluctuation and economic growth is generally in sync. The monetary policy includes expansive monetary policy and retrenchment monetary policy. The central bank policy operation changes the money supply which affects interest when interest and stock price assume reverse relationship. Expansion of capacity is an effective way of enlarging market shares. As far as the capital is concerned, the effect of expansion of capacity on stock price index belongs to 利空题材 ??????. Entry into WTO is good for the rapid development of the Chinese economy and will speed up the course of reform and opening-up of stock market. It is also beneficial for the enterprises to broaden financing channels and for the hot issues of Chinese securities market and板块????? to grow. It will also help to stimulate the competitive consciousness for the various industries in China, speed up technological progress of the enterprises, adjust industrial structure, speed up the process of re-structuring, consolidation, and merging, raising the overall competitiveness. In the meantime, after entry into WTO, foreign capital will enter the Chinese stock market in different forms and international idle capital and manipulators will take the chance, bringing greater risk to the Chinese stock market.
出处
《学术交流》
北大核心
2001年第1期82-85,共4页
Academic Exchange
关键词
股价指数
经济增长
货币政策
扩容
WTO
stock price index
economic grow
monetary policy
capacity expansion
WTO
