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在第二批试点公司股权分置改革方案中看到了认股权证的概念。目前认股权证对大多数投资者而言还比较陌生,而且它的投资方法相对复杂,其涨跌可能几十倍于股票本身的涨跌,在孕育高收益的同时暗藏高风险。我国香港是亚太地区最大的权证市场,拥有世界上衍生权证交易量最大的交易所,而且认股权证的交易额要大于股票期权交易额。与1997年金融危机之前相比,香港现在投资认股权证的风格相对理性,对权证产品进行测算、比较、风险与收益分析都比较清楚。在目前阶段,投资者对认股权证更要保持理性心态,一定要在专业人士指导下进行相应投资,切不可盲目跟风。
In the second batch of pilot companies split share structure reform program to see the concept of warrants. At present, warrants are still unfamiliar to most investors. And its investment method is relatively complicated. The fluctuation may be several times as high as the stock itself, hiding high risks while breeding high returns. Hong Kong, China’s largest warrant market in the Asia-Pacific region, has the largest exchange-traded exchanges in the world, and the warrants are traded at a greater rate than the stock options. Compared with the financial crisis of 1997, the style of investment warrants in Hong Kong is relatively rational. The warrants are measured and compared with each other, and the risks and revenue analyzes are relatively clear. At this stage, investors should maintain a more rational attitude toward warrants. They must make corresponding investments under the guidance of professionals and must not blindly follow the trend.