By: GZ on Mercoledì 26 Settembre 2007 15:18
In Cina hai ad esempio questo broker Citic Securities che dal niente ora capitalizza 40 miliardi, grazie al fatto che nel 2007 in Cina sono stati aperto 90 milioni di conti per giocare in borsa
I 4 maggiori brokers non bancari cinesi (società che passano gli ordini in borsa) ora capitalizzano più di 100 miliardi, in un paese dove cinque anni fa la borsa era un fenomeno marginale
se la borsa sale del +200% l'anno per due anni di fila, hai che le banche e brokers aumentano del +500% come effetto del boom di borsa e questo a sua volta fa salire gli indici e poi le società che hanno cassa anche se sono municipalizzate o industriali si mettono anche loro a giocare in borda segretamente e in questo modo mostrano utili maggiori. Vedendo che brokers, banche e società di tutti i generi hanno utili maggiori altra gente usa i risparmi o si indebita per giocare in borsa e così via
Nel 1990 Nomura in Giappone era cresciuto fino a diventare il più grande brokers del mondo, capitalizzava 10 volte quelli americani, poi ha perso il -86% dal massimo e oggi capitalizza ancora solo 1/3 del valore del picco di allora (in dollari!). Ma non è che il Giappone si è impoverito per questo, solo la borsa si è sgonfiata
Citic Surpasses Lehman, Schwab as Savings Lift Stocks (Update4)
By Chua Kong Ho
Sept. 26 (Bloomberg) -- Citic Securities Co. is the fastest-growing brokerage firm in the world thanks to the booming market for Chinese stocks, and Wall Street may have to get used to the industry neophyte challenging Goldman Sachs Group Inc., Morgan Stanley and Merrill Lynch & Co. as the biggest.
Founded just 12 years ago, Beijing-based Citic now has a market capitalization of $40.7 billion, or $8.8 billion more than Lehman Brothers Holdings Inc., $24.4 billion more than Bear Stearns Cos. and $16.4 billion more than Charles Schwab Corp., after rising more than threefold in 2007. Haitong Securities Co., China's No. 2, also eclipsed Bear Stearns as the seven largest U.S. brokers lost $37 billion in value this year.
Chinese firms will keep growing as investors pour more of their $2.2 trillion savings into stocks, said Chan Kum Kong, who helps manage $15 billion at DBS Asset Management in Singapore.
``The prospects are definitely bright for Chinese brokerages, which will continue to grow with the market,'' said Chan, whose holdings include Citic shares. ``A few will be able to move out of their domestic markets to compete internationally.''
While Chinese securities firms only operate at home for now, their rise has already reshaped the list of the world's biggest brokers by market capitalization. A year ago, Wall Street firms occupied the top five slots while China had none among the first 10. Citic has now claimed the No. 4 position while Haitong, at $22.1 billion, is eighth. Only Goldman, Morgan Stanley and Merrill Lynch remain larger than Citic.
When global banks with securities arms are added, Citic ranks No. 8 on a list that includes Citigroup Inc., JPMorgan Chase & Co., Zurich-based UBS AG and Credit Suisse Group. Citigroup, the largest U.S. bank, has a capitalization of $230 billion; Goldman, the most profitable securities firm, has a value of $91.2 billion, making it the U.S.'s biggest brokerage company.
China's benchmark CSI 300 Index has climbed 163 percent in 2007, the best performer among 89 global equity indexes tracked by Bloomberg. Investors in China have opened 46 million trading accounts this year alone, nine times 2006's amount. Total accounts have swelled to 125 million.
Citic's rise is reminiscent of that achieved by Nomura Holdings Inc. in the late 1980s when the Tokyo-based company became the world's largest securities firm with a value of $76 billion, 18 times that of Merrill. Nomura's shares plunged 86 percent in the 11 1/2 years after its April 1987 high as Japan's bubble economy burst. Its market size is now $31.7 billion.
The rally in China has propelled Beijing-based Industrial & Commercial Bank of China Ltd. past New York-based Citigroup as the world's largest bank by market value, and Air China Ltd. past Singapore Airlines Ltd. as the largest carrier.
China's four listed brokers -- Citic, Haitong, Hong Yuan Securities Co. and Northeast Securities Co. -- have soared an ^average of 526 percent this year. Citic's market value has climbed $29.7 billion in 2007...#http://www.bloomberg.com/apps/news?pid=20601087&sid=argPMBPx3IvI&refer=home^