At the beginning of the Year of the Dragon, from "shorting" to "shorting", A-shares** reversed, and the Shanghai Composite Index returned to more than 3,000 points, directly erasing the sharp decline since 2024. From the in-depth communication with individual investors in the sales department, to the issuance of fines to sound the alarm bell for quantitative trading, the regulator has obviously improved under the full care.
After a bottoming out around the Spring Festival, market sentiment has been restored. "After New Year's Day and before the Spring Festival, the market fell sharply, and I was basically short and did not suffer much loss. After a sharp correction, the market valuation has returned to a historical low, and it has investment value in terms of both adjustment space and time. Mr. Liu, a professional shareholder in Shenzhen, told reporters. A few trading days after the Spring Festival, Mr. Liu has filled up **.
The rapid rise in temperature is not unrelated to the close care of the regulators. Wu Qing, the newly appointed chairman of the China Securities Regulatory Commission, led a team to the business department of the securities company to communicate with individual investors. In the symposium, the regulator and investors discussed issues of general concern to the market, such as IPO access, delisting, improving investor returns, standardizing trading behaviors, and promoting more medium and long-term funds to enter the market.
After the Spring Festival holiday, the exchange also issued a fine, pointing to quantitative trading. Due to the automatic generation of trading instructions through computer programs by multiple ** accounts under its name, a large number of orders in a short period of time, and abnormal trading behaviors, Ningbo Lingjun was punished by the Shanghai and Shenzhen Stock Exchanges, and all ** transactions of related product accounts in the corresponding period were suspended.
In response to market short-selling, the China Securities Regulatory Commission said that the regulatory authorities will not interfere in normal market transactions, protect investors' rights to trade fairly and freely in accordance with the law, and resolutely crack down on violations of laws and regulations such as disrupting the order of market transactions. Subsequently, the Shanghai and Shenzhen ** exchanges and the China Financial ** exchanges will be guided to improve the regulatory standards for abnormal transactions, crack down on market manipulation, insider trading and other illegal acts in accordance with laws and regulations, and effectively maintain the normal trading order of the market.
Under a series of restrictions, the power of market bears has weakened significantly. As of the 22nd, the balance of A-share securities lending was only 44 billion yuan, a sharp decline of more than 43% from 78.2 billion yuan at the beginning of this year. Yu Shaobo, chairman of Shenzhen Carry Forward Investment, said that in the near future, the regulator has closely responded to market concerns and introduced a number of measures to regulate market trading behavior, which has shown a steady upward trend, which will play a positive role in the market in the short term. "Since the beginning of this year, the recovery trend of the consumer market represented by tourism is obvious, the fiscal policy is relatively positive, and the monetary policy is expected to maintain a relatively loose tone, which is conducive to consolidating the foundation for the economic recovery. Under the superposition of policies, the continuous development of the Year of the Dragon is expected to lay a good foundation for the medium and long-term trend of A-shares. Yu Shaobo said.
The latest LPR was lowered by 25 bps, and varieties with a maturity of more than 5 years were reported at 395%, which has a more direct and significant effect on reducing the financing cost of the real sector and supporting economic growth. HSBC Jinxin public fixed income investment deputy director, manager Cai Ruolin said that the direction of the domestic economic rebound is certain, but the process may face certain repetitions and twists and turns, the need for continuous policy care, the past period of management statements and the introduction of a series of policies, fully demonstrated its determination and confidence to care for the economy.
Author: Shenzhen Special Zone Daily reporter Xiong Ziheng).