In an era of performance chasing and “tactical trading,” holding on to a buy rating for seven and a half years shows commitment. But even loyal Morgan Stanley has downgraded China’s stock market. Other brokers are making cautious noises, too. A flurry of capital raisings and initial public offerings suggest that companies also think this is a good time to sell. Worries about speculative froth are focused on high levels of margin debt in retail trading accounts. In the past three days China’s markets have swooned.
在一个追逐表现、讲究“策略性交易”的时代，维持“买入”评级达7年半彰显了一种铁杆情结。但就连忠实的摩根士丹利(Morgan Stanley)都已下调了manbetx3.0 股票市场的评级。其他经纪商也纷纷附和，提醒投资者谨慎行事。一连串的融资活动和首次公开发行(IPO)表明，各公司也认为这是一个很好的卖出时机。对投机性泡沫的担忧主要集中在个人交易账户的保证金借款(margin debt)水平过高上。manbetx3.0 股市已经连续大跌了三天。
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