Zhongxin Jingwei, February 23 (Fu Jianqing) On the 23rd, the Shanghai Composite Index returned to 3,000 points intraday and is heading towards the "Eight Lianyang". As of press time, the Shanghai Composite Index rose 039% at 300012 o'clock; The Shenzhen Component Index rose 010% at 905280 points; The GEM index fell 001% to 175778 points.
*：wind
How to get around after that?
3000 points has always been an important psychological threshold in the hearts of shareholders, after recovering 3000 points, will A-shares continue to attack or range**?
Zhang Cuixia, chief investment consultant of Jufeng Investment, analyzed the "V view financial report" (*ID: VG-view), the Shanghai Composite Index returned to 3000 points, which means that the market has entered a strong pattern, and the Shanghai Composite Index has been adjusted from 3148 points to 2635 points is the driving structure of the "big five waves", and the V-shaped ** breakthrough of 3000 points is basically a positive signal to get rid of the pressure of the medium-term downward trend line.
In the past 6 years, the period when the Shanghai Composite Index has been running below 3,000 points is 20186-2019.1** bear market under the impact of the war, so the 3000-point index has also become a guide to the demarcation between bulls and bears. Qu Yiping, head of the total group and chief analyst of Oriental Wealth, said that the market still needs more positive factors after the recovery of 3,000 points, and the real estate sales data in January continued to fall short of expectations, and more policies are still needed to reverse the downward trend in real estate. The repair of market valuation depends on the recovery of all A's earnings, and the financial performance of all A in the annual report quarter is still the core benchmark.
Yang Delong, chief economist of Qianhai Open Source, pointed out that the long-short divergence near 3,000 points may still lead to recurrence, but there is still room for upward expansion when the general trend has been gradually established.
Qu Yiping believes that the next market trend may replicate the 2016-2017 blue-chip strength, and the main line is expected to focus on the central state-owned enterprise sector after the market value management framework of the State-owned Assets Supervision and Administration Commission is implemented.
T+0 is in focus again.
Since Wu Qing assumed the post of chairman of the CSRC on February 7, the CSRC's policy actions to maintain market stability have been frequent, and T+0 has once again become a hot topic in the market. Some experts have also proposed that blue chips can be released first, what does the industry think about this?
Zhang Cuixia said that if you want T+0, you should be T+0 in the whole market, and the so-called idea of piloting blue chips and the Beijing Stock Exchange in the market is not particularly ideal and in place.
Yang Delong said that if it can be liberalized, it is also an important reform measure, which can indeed play a role in activating market transactions, and it is also a practice in line with the international capital market.
Judging from the past year or so, it has little to do with T+0", Zhang Cuixia believes that it is more because of the market's current fraudulent issuance, high-premium issuance, short selling, ultra-high frequency trading and other problems, which have led to the impact and release of market risks.
Qu Yiping also pointed out to the "V View Financial Report" that it is debatable whether the T+0 rule is suitable for the current A** field from a certain perspective. He introduced that at the end of 1992, A-shares had piloted T+0, and there was a short-term sharp increase in the market, and after changing back to T+1 in early 1995, the market appeared sharply. If the promulgation of T+0 increases market speculation and volatility, it is actually contrary to the current demands of the CSRC. Moreover, the total number of A-shares has reached 5,107, and T+0 is more conducive to quantification from a certain perspective, and is no longer restricted by the source of securities borrowing and lending, bringing stronger convergence trading behavior. The China Securities Regulatory Commission (CSRC) recently said that a series of measures to regulate quantitative trading will mature one by one, and it is more necessary to keep market transactions relatively stable rather than greatly innovating.
Yang Delong suggested that investors should not trade frequently even if they let go of T+0, as it is easy to lose money.