In practice, taking the bull certificate as an example, when the spot price of assets related to the N-type bull certificate falls to the recovery price and touches the recovery price, a forced recovery event will occur, and the issuer must recover the bull certificate and terminate its trading in the market. After the cow certificate is recovered, there will be no residual value, and the holder of the cow certificate will not get any residual money from the issuer.
Half of Hong Kong's derivatives come from Niuxiong Securities. Today, I would like to share with you the development of Hong Kong bull and bear securities market and the investment of Hong Kong investors. Although they are very worried, their operations are mainly short-term, such as coming in the afternoon and leaving in the afternoon.
Investment is mainly based on bull and bear certificates, including some warrants. At present, there are many news that Chinese banks have reduced their holdings. Many investors in Hong Kong choose warrants from Hong Kong Construction Bank and China Bank. Last week, I saw that some funds chose the subscription cards of CCB and BOC. The capital flow in Hong Kong is mainly based on the bull-bear certificate of the Hang Seng Index.
Deutsche Bank is a relatively large bank in the world, with operations in 45 countries around the world. If the warrant business is the largest warrant issuer in the world. In 2004, it entered Hong Kong and Singapore in Asia, and in 2006, it entered Malaysia, becoming one of the three major warrant issuers in Singapore and Hong Kong.
Bull and Bear Certificate was launched by Hong Kong Stock Exchange in 2006. In June 2006, the turnover was not much, about 80 million per day. The turnover in the fourth quarter of last year was 6 1 100 million yuan.
In 2006, the bull-bear certificate was only 1 1. Now Hong Kong has a 1300 bull-bear certificate. There were five publishing houses in 2006 and 2007, and there was 10 in 2008. More and more publishers are issuing bull and bear certificates in Hong Kong.
Investors in Hong Kong will choose investment channels related to the root index. The highest Hong Kong index is 32,000 points, and the lowest is 10600 points, with a difference of 20,000 points. Many investors choose investment indexes or related products.
If the general trend goes down, people who buy cattle coupons will benefit. Recently, the general trend reached around 15700, and the funds flowed to Zheng Xiong. These data can be found on our website.
There are many bull and bear certificates in Hong Kong. If you want to know the data of Hong Kong, you can go in and have a look. Every day, Hong Kong investors will visit our website, because there are data of warrants and bull-bear certificates issued by all issuers. Secondly, the website has a general trend analysis to tell consumers what to do. Thirdly, when analyzing the flow of funds, we will see the situation of funds, including sub-warrants and bull-bear certificates. This is the situation of the past day. Every day around 9: 00, we put the reports of publishers in the market on the website. For example, many investors watch CCB and China Mobile on Friday, and everyone will know the result on Monday, because the flow of funds cannot rely solely on German data. We will put other analysis on our website.
You can see the inflow and outflow of funds these days. For example, warrants that have been actively traded in the last five days, such as Bank of China, have a capital inflow of 20 million. Followed by ICBC, the inflow was120,000 yuan.
The outflow of bear certificate funds is 77 million, which has dropped to about 14000 points. Investors in Hong Kong think this is enough. They sell bear certificates and cattle certificates, but the amount of funds is not large, and investors will be more worried. So they use a little money to buy, keep buying data and observe the flow of funds.
Investors in Hong Kong are mainly short-term, so they will observe the data of bull and bear certificates and capital flow. After reading it, they can buy stocks instead of bull and bear certificates or warrants, but they should analyze the direction of funds.
You can also check different securities information on the website. Many investors in Hong Kong choose the bull-bear certificate of the Hang Seng Index, and we put the data of all issuers together. Data such as the rise and fall of the bull-bear certificate, the exercise price, and the withdrawal of the order.
Hong Kong Hang Seng Index futures and options are margin exhibitions. Everyone is worried that fluctuations will lead to capital loss. We remind you not to invest too much, because warrants are leverage tools, and 10% of the funds can be put on warrants and bull-bear certificates. Some customers think that they can understand the trend of Hong Kong stock market and invest more warrants, but they should be clear about their risk control ability. Why do investors choose the bull-bear certificate instead of the warrant?