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Ying Jianzhong
The countdown to this year's trading has begun, with 20 trading days to go before the end of the year. This year, the Shanghai Composite Index opened at 3087 points, with a high of 3418 points and a minimum of 2923 points.
As far as this week's trend is concerned, everyone attributes the reason for the weakening of Shanghai and Shenzhen to the trend of the Beijing Stock Exchange. The Beijing Stock Exchange's fierce bull trend is dazzling, and before everyone can react, the Beijing Stock Exchange 50 Index has pulled from 700 points to more than 1,100 points. Did the Beijing Stock Exchange snatch the job of "eating **" at the end of the year?The Beijing Stock Exchange is cooling, can the track be switched to Shanghai and Shenzhen?The proof is in the data. Since Tuesday, the BSE 50 has begun a large-scale retracement, and the index can rise by more than 10% when it rises, and the magnitude of the decline is also staggering. However, the fall of the Beijing Stock Exchange has not become a positive for the Shanghai market, and the Shanghai Composite Index is still falling. It can be seen that in today's diversified and multi-level market, various investment channels have their own way, and investors can choose markets and sectors according to their preferences.
Next, in the last 20 trading days of this year, I think the following points should be noted.
First of all, as far as the Shanghai Composite Index is concerned, the battle for 3,000 points continues. It is important to hold the 30-day level of 3030, and if it effectively breaks below it, it means that all the short-term and medium-long term ** are broken down and the trend will weaken. But even if it is weak, it is still hot. This week, Huawei's involvement in the automotive theme has become the target of market speculation in concept stocks such as artificial intelligence, autonomous driving, and new energy vehicles. The rotation of weekly hot spots has formed a local bull market pattern, and speculation has become an important feature of the current market.
Secondly, the local bull market of the Beijing Stock Exchange has come to an end, and the differentiation has begun after the comprehensive general rise. In the first stage, the performance is from 700 points to 1100 points in the BSE 50 index, and half or even two-thirds of the 400 points of **space** are reasonable. During this period, the 8 Beijing Jiaotong issued two years ago entered the open window of 10 trading days, forming a siege effect, the people inside want to rush out, and the people outside want to rush in, but how many people can go in will not be known until December 6. The Beijing Stock Exchange is more or less related to this factor, plus more than 230 ** half of the breakage, according to the rules, the broken shares can not be listed and circulated during the lifting period of the major shareholders, these factors have forced the outbreak of **. There is a famous saying: how long it is horizontally, how high it is when it is vertical. The first wave of the Beijing Stock Exchange is over, but this market characteristic will be repeated in the future, although the path will be different, but the reason is the same.
Finally, as a niche market, the Beijing Stock Exchange has both opportunities and risks, and there is a lot of room for gambling, but it is only suitable for risk-appetite investors who like to gamble. Although the Beijing Stock Exchange has lowered the threshold for entering the market, this is a tangible threshold, and the invisible threshold is only something you can feel. For example, when the Beijing Stock Exchange subscribed for new shares, due to the lack of porridge and many monks, sometimes 1 million yuan of funds could not be allocated to 100 shares, wasting the available repurchase interest. Moreover, don't envy the 30% price limit of the Beijing Stock Exchange, if you hit a 30% down limit, it also means that the market value will be discounted by seven percent in an instant. The Beijing Stock Exchange is still a mini small market, this Monday's trading volume of 30.3 billion yuan is already a day, once the market shrinks, high-level buyers will immediately experience liquidity risks, easy to buy and difficult to sell. There are more than 230 ** stocks on the Beijing Stock Exchange, with a total market value of only more than 360 billion yuan, which is less than a ** stock in Shanghai, like Kweichow Moutai, with a total market value of 22 trillion yuan. Therefore, the Beijing Stock Exchange is only a repair after the overfall, and investors should choose the market, choose the market and sectors according to their preferences, and making money is the last word.
This article was first published in Financial Investment News.
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