There was a shocking thunder again, and the risk of equity pledge was hotly discussed, if not, the big A really wanted to end, and the market value management of the media was not equal to the stock price management, which directly led to the collapse of the Chinese word, and it completely exploded.
The first news, the day before yesterday, someone estimated that the snowball is the CSI 500, and there are still 23% of the snowball product below 4700 points, about 55 billion have not been knocked in, and the CSI 1000 has been knocked in below 2 3 4800 points, and there are still 23% left, and about 36 billion have not been knocked in. However, the thunder cylinder of Xueqiu products has exploded, and the risk of equity pledge has intensified.
Let's take a look at the two financial first, the financing balance of the two financial sides is continuously and sharply reduced, at present, there is only 15 trillion up. The day before yesterday, it was reduced by 19.3 billion, the largest decline in a year, yesterday, although ** slightly stabilized, but the financing balance reduced in the first half an hour will not be less, which is why in the past few days there was a gap in the opening of a major reason, because it is the explosion of the financing disk.
The second is the equity pledge, and now the data is down, that is, 45% of the current A shares are pledged, and the market value is about 257 trillion, the current equity pledge has more than three percent of the **, the number of pharmaceutical and chemical industry, real estate is relatively large, and the current equity pledge projects that have fallen below the warning line account for more than 1% of the total share capital of the pledge, a total of 1,947, so the intensive liquidation point of the two financial and pledge, calculated it, is about 2400 points to 2600 points of the Shanghai Stock Exchange, and now, it has touched the liquidation point of the two pledges.
So here, it should be the last line of defense triggered by systemic risk, the biggest problem at present is the mysterious funds, only drag on, if it continues, it will continue to wear down the trust of the shareholder's account, and if it goes on, it will continue to wear down the shareholder's account. And trust, in the end will be counterproductive, because now is the critical stage of the bargaining chips out of the Beijing war, survive the wind and rain after the rainbow, shareholders, must make themselves in this war to survive in the long-term possibility. At present, the market has touched a double bottom, and there are still risks.
The second piece of news, that is, the main reason for yesterday's Chinese word is that there are some **, all day long pointing to the country, blowing in the special valuation, the state-owned assets reform is their ups and downs, up for 2 days and then released market value management, not in terms of stock price, so now the market risk is getting worse and worse, simply don't want it, at the beginning of the mouth to say that it is also your backhand that allows shareholders and residents to make money, and that it is you who say that investment can not be made for the purpose of making money.
Yesterday, I came to define the meaning of market value management, how to calculate market value? We all know that market capitalization is equal to stock price multiplied by share capital, and you tell me that market capitalization management is not equal to stock price management, what is the reason? Market value management can be divided into four parts, one is to make the stock price higher, the second is to issue additional **, the third is to split the listing, and the fourth is really intrinsic value.
For example, the management of the management of state-owned enterprises from top to bottom deploys the problem of market value management, and strives to contribute to the stability of A-shares, and you can stand at a higher angle to make suggestions, rather than engage in some views that seem to be reasonable but easy to misunderstand the market.
Take a look at ** again, on the first day of February, the Shanghai Stock Exchange, did not get out of a good start, mainly during this period of time is the mysterious funds to protect the ** weight and index of the ETF, the main board of the Shanghai Stock Exchange fell significantly, significantly less than the small and medium-sized enterprises, yesterday the Chinese word disk has been the overall financial weight of the fall, so, it dragged down the Shanghai Composite Index to make up for the fall. Although the amplitude is not large, the lowest probe reached 2752, and the rebound closed out a shrinking doji, this doji, in fact, can not be sure whether it has come out of the second foot.
So if you can hold it next, and then pull it up quickly, pull it up to this 2850, then the probability of helping the double body to rise will increase, on the contrary, if you break this 2750 again, you will also test this 2724 points, and then look, yesterday's Shanghai Stock Exchange daily line MACD, has appeared again green columns, which means that the divergence animation that disappeared again in the past two weeks has come out again.
Therefore, as long as it closes below 2756, there will be a daily level of passivation again, and a new bottom divergence structure is expected, and then superimposed on the weekly line of the Shanghai Composite Index this week, it has been the 9th in the sequence or the construction of the bottom pattern after the stabilization and rebound, yesterday, the double index is out of a good start, on the one hand, the two major indexes, the decline in January is too large, the correction of the over-fall ** is huge, and the deviation rate is required to be strong.
On the other hand, the risk of the annual report performance of listed companies on January 31 has been released, and the bold funds have dared to make up for the position, although the heavyweight stock Ning Wang fell slightly on Thursday after the strong reversal on Wednesday, but yesterday we saw that photovoltaic new energy appeared obviously, popular plates. A total of sub-optics has also risen rapidly, so yesterday's gem once ** nearly two points, whether it really stopped falling, we have no way to determine, and we can't judge that yesterday's location is 1563 is this first perspective.
The current GEM daily animation has basically disappeared, and only the sequence of weekly and monthly resonances has come out as a 9th, so relying on the signals of these two cycles, ** may be able to appear the first foot. Because in the past two days, we still have to focus on the double index, whether it can slow down and stabilize, and get out of an obvious **, we also told you before, if it is again, it will trigger a larger-scale equity pledge liquidation line.
Now I think it should be the management, at present, it is far from enough to rely on the national team to pull up the Chinese word, and it is necessary to send a good piece of this king bomb level later, that is, with a huge amount of leveling**. Also, it is the suspension of the IPO, but the current time and scale of the problem, the call for the suspension of the IPO has become higher and higher with the rising wave of the continuous sharp fall.
But as a last resort, we can see that the management will not suspend the IPO, and the current market is actually using self-harm to play with the management, and the process of hurting must be the majority of shareholders, as well as market confidence that is more important than gold, but in the end it is our continued sluggish Chinese economy that is hurt.
I believe that the management should be able to settle this account, and will not end up evaporating the market value of tens of trillions of A-shares in order to issue hundreds of more IPOs, or even cripple A-shares and lie down in the ICU. Therefore, at present, we should first let A-shares recuperate or resume their interest, and then match their words and deeds well, and plug all kinds of loopholes in the current market, so that China's capital market can enter a virtuous circle.