Lessons must be learned from stock market glitch
Updated: 2013-08-21 23:10
(chinadaily.com.cn)
|
|||||||||||
On Aug 16, the Shanghai Stock Index experienced a sudden jump of 5.96 percent, with several important shares reaching their top limit.
The incident was because of a computer error. The glitch has led to valuable lessons that must be learned, said a column on People's Daily (excerpts below).
After the glitch, the China Securities Regulatory Commission took immediate measures and prevented more damage from happening.
The accident still reveals loopholes, not least that the commission could have informed clients earlier.
Actually, events of this nature have also occurred in foreign markets.
To prevent it from happening again, supervision over markets and computers must be enforced.
On the website of China Securities Regulatory Commission there is a slogan in big, bold words. It reads: It is our job to protect the interests of investors.
They will live up to the words even more if they learn from the accident.
After all, one can never be too careful in stock markets.
Related Stories
June a bleak month for brokers due to lackluster stock market 2013-07-11 07:30
China's stock markets rebounded on Wednesday 2013-07-10 18:56
China's stock market sees mild rebound 2013-07-02 06:18
Stock market to lift ban on shares worth $5b 2013-06-23 20:40
Today's Top News
Merkel makes visit to Nazis' Dachau camp
Expanded Sino-US exchanges
Premier Li stresses need for reform
Children with HIV live in fear
Kidney trafficking operation smashed
China to crack down on illegal online drugs
Food safety tops public's concerns
Monkeys at park given contraceptives
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Graduates hope to bust graft |
Get ready for army roll call |
Construction of parking lots still in slow lane |
Power points |
Urban push |
Magnetic attraction for
|