U.S. brokerage bans borrowing to buy Chinese stocks

By Yan Pei
0 CommentsPrint E-mail China.org.cn, June 9, 2011
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US brokerage bans borrowing to buy Chinese stocks

美国一券商“封杀”中国概念股

 

Interactive Brokers Group Inc., the largest non-bank securities company in the U.S., banned clients on Wednesday from borrowing money to purchase shares of more than 130 Chinese companies on concerns that some may be involved in the recent wave of accounting scandals.

The Connecticut-based brokerage firm blacklisted 159 stocks of 132 Chinese companies, 90 of which are traded on U.S. stock exchanges.

Most of the companies on the list are small- and medium-sized enterprises or dot-com firms. Some of China's hottest companies, such as Mecox Lane, Sina.com, Dangdang.com and Sohu.com, were blacklisted.

Interactive Brokers said in a statement that starting this week, it will prohibit clients from buying these stocks on margin due to "elevated risk concerns."

The move marks the second time Interactive Brokers has blacklisted Chinese stocks. In April, the brokerage firm also barred clients from using borrowed money to buy some Chinese reverse-merger stocks.

 

美国最大的非银行券商盈透证券昨日宣布,由于担心一些中国公司可能存在会计违规行为,本周起已经禁止客户以保证金的方式买进部分中国公司股票。

上述“黑名单”共列出了132家中国公司的159只不同股票,其中约90只在美国上市。

根据榜单,上榜公司大部分为在纳斯达克上市的中国中小公司和网络概念公司,但麦考林、新浪、搜狐等知名企业也名列其中。

盈透证券称,出于“对高风险的担忧”,本周起禁止客户以保证金的方式买进上述中国公司股票。

这已不是盈透证券首次对中国概念股下达“封杀令”。今年4月,该公司禁止了客户借钱购买一些通过反向收购上市的中国公司股票。

China's business press carried the story above on Thursday.

 
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