In March 2021, the show was staged!Just like the three charts you can see, the Chinese concept stocks in the United States, Hong Kong**, and the CSI 300 index in our mainland all reached their peaks that month. It's as if they've made an appointment, rush to the high point together, and then. Boom and fall down!
Among them, the most exciting is the Chinese concept stocks, whose fluctuations are as exciting as a roller coaster. first plunged into the quagmire, then splashed the mud waves into the Hong Kong market, and finally even our mainland A-shares were not spared, wave after wave of shock waves.
What happened then?Internal and external factors are attacked. The domestic fuse can be traced back to November 2020, when Ma Yun's speech seemed to light a fire. Regulators began to take action, with anti-monopoly investigations, Ant Financial's IPO stranded, and the rectification of the small loan business. Ma Yun has since faded out of the public eye.
On the foreign front, as soon as Biden took office, China-US relations seemed to add fuel to the fire. The strategic talks in Alaska broke up unhappily on both sides, and the smell of gunpowder was full. Biden is not an ordinary player, exerting pressure in all directions. The United States has also enacted a "Foreign Company Accountability Act", as if to say: "Chinese concept stocks, be careful!"."And all kinds of restrictions, sanctions, global cooperation. This trick is really ruthless!
In March, Chinese concept stocks were like being pressed the "collapse" button, and the stock price fell quickly and violently. The most shocking thing is that there is a Korean buddy Bill Hwang, who played with leverage in China, and as a result, he lost nearly $20 billion overnight and was arrested!At that time, there was a lot of rumor.
Crazy 2021". I remember that at that time, Chinese concept stocks were like a roller coaster, barely stabilized in April and May, but in June and July, yo, it was another big show!
First of all, Didi, the big brother, went public hard, but not long after it was listed, it was called to stop, and it was later delisted. Then, the education and training industry came to a big rectification, and the good future in my hand made me stunned all of a sudden, and the entire Chinese concept stock sector was like being washed by a mudslide, all of which were bearish.
Then, Chinese concept stocks have been falling gloomily until the end of October 2022. First, it was 40%, and then because of China's epidemic prevention policy, it was 40%. But even so, compared with the high point in March 2021, it still fell by 2 3, and the Internet industry lost more than 10 trillion in market value, which is really miserable.
One word I often say is "internal and external doubles" - domestic profits, supervision, self-inspection, punishment, and at night the United States comes to add chaos, sanctions, and delisting. At that time, half of my U.S. stock account was the ** of Chinese companies, and in July and August of '21, my heart was cold, I sold it all, and I never used dollars to buy Chinese concept stocks again.
Is it a coincidence that you say all this?I feel like it's like a butterfly effect, where small changes add up to big things. Think about it if Trump hadn't lost to Biden, the situation might have been completely different. In the first year of the new crown, we achieved good results in dynamic zero-COVID, and the GDP growth rate and the number of epidemic ** were the world's leaders, and everyone was very proud. It's like running into America's new ** at its peak.
There are also some small things, such as the increase in stamp duty in Hong Kong, the promotion of the three red lines policy in real estate in China, the obstruction of foreign exchanges and the migration of capital due to the epidemic for three years, which have more or less affected the market.
As for the US dollar interest rate hike, that is in 2022, and the RMB is still appreciating in 2021, so I don't think the exchange rate has played a decisive role.
Looking back, there have been so many things that have happened in the past two and a half years, and March 2021 may have been a turning point, but we didn't feel it at the time. History is always understood after the fact.