www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

Online money market funds lose luster

(Xinhua) Updated: 2015-05-07 09:54

BEIJING - Online money market funds (MMFs) are losing their appeal to Chinese investors who crave higher yields in the stock market.

Combined assets of online MMFs totaled 1.36 trillion yuan ($222 billion) at the end of the first quarter, down 9.8 percent from the previous quarter, according to data from Beijing-based lending information provider Rong360.com.

The figure was a sizable reduction compared to a peak of 1.56 trillion yuan at the end of September 2014.

Analysts said a bullish stock market has drawn money away from online MMFs.

The benchmark Shanghai Composite Index has gained more than 30 percent since the start of this year, accompanied by a frenzy of new accounts and record turnover.

Rong360.com analyst Xu Jin said that a huge amount of capital has flowed out of bank deposits and online MMFs into the stock market, feeding the market's steady climb.

Online MMFs offered annualized interest rates of nearly 7 percent when they first became popular in 2013, but the current rate has fallen to around 4 percent, another reason they have lost their allure, according to Xu.

The falling yields accompanied two interest rate cuts and two drops in banks' reserve requirement ratio by the central bank since November of last year.

Despite the general decline, Alibaba's Yu'e Bao, the most popular and largest online MMF, was an exception. Its first quarter report showed assets had reached 712 billion yuan as of the end of March, up 23 percent from three months ago.

Alastair Sewell, Senior Director of Fund & Asset Manager Ratings at Fitch Ratings, said the relative ease and convenience of online MMFs have made them wildly popular and a key wealth management tool for average investors.

Yu'e Bao can be used for online purchases, taxis, credit card payments, mortgage payments, and even utilities such as water and electricity. It also offers instant redemption and no-fee money transfers between bank accounts.

However, Sewell warned that online MMFs have a less stable investor base with yield-hungry retail investors susceptible to herd behavior, which could result in a mass outflow of funds.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 成人在线手机视频 | 国产精品久久久久9999小说 | 亚洲精品国产福利一区二区三区 | 成人牲交一极毛片 | 亚洲男人天堂2018 | 国产成人免费片在线观看 | 亚洲视频免费在线看 | 99视频在线永久免费观看 | 精品视频亚洲 | 欧美大片a一级毛片视频 | 亚洲精美视频 | 播放一级毛片 | 91精品成人福利在线播放 | 精品一区国产 | 欧美日韩一区二区在线视频 | 特黄特色三级在线播放 | 欧美久久久久久久一区二区三区 | 成人在线观看一区 | 亚欧在线观看 | 亚洲人成日本在线观看 | 理论片亚洲| 韩国黄色一级毛片 | 性刺激欧美三级在线现看中文 | 国产欧美日韩精品一区二 | 欧美亚洲日本一区二区三区浪人 | 免费一级真人毛片 | 久久网免费 | 国产成人精品精品欧美 | 性欧美f | 亚洲第一免费播放区 | 国产不卡在线观看视频 | 国产一区二区免费播放 | 成 人 亚洲 综合天堂 | 久久久久久在线 | 国产一级片网址 | 中文字幕国产亚洲 | 亚洲精品欧美精品 | 日韩在线精品视频 | 一区二区三区视频 | 国产美女做爰免费视频网址 | 日韩欧美国产视频 |