The market bottomed out and rebounded throughout the day, and the three major indexes were mixed. The yellow and white tick lines of the index diverged significantly, and small and mid-cap stocks collectively fell sharply. On the market, high dividends and heavyweight stocks strengthened again, and many stocks such as Yangtze Power and Agricultural Bank of China hit record highs. The weighted stocks of the GEM rose collectively in the afternoon, with Mindray Medical, Aier Ophthalmology, CATL, and Zhifei Biotech rising by more than 4%. Overall, there are more than 4,800 stocks in the whole market. The turnover of the Shanghai and Shenzhen stock markets today was 877.4 billion, an increase of 71.7 billion from the previous trading day.
As of **, the Shanghai Composite Index fell 102%, the Shenzhen Component Index fell 113%, the GEM index rose 079%, the Shanghai Composite 50 Index rose 118%。
Intraday, signs of bailout funds entering the market are also obvious. Today, whether it is the constituent stocks of the SSE 50 or the weighted stocks of the ChiNext Board, there are more obvious buy orders.
This morning, the A** market continued to adjust, and the Shanghai Composite Index once fell below last week's low. Against this backdrop, investors are worried about financing liquidation. A screenshot of the network shows that there is a saying that "as long as the ** is lower than 130% (maintenance ratio) today, and there is no insufficient margin to 130% before 4 o'clock, before 9:30 the next day, either make up the funds to 150%, or passively close the position to 150%." In this regard, the reporter consulted the business department of two leading brokerages. Both brokerages said the above claims were untrue. One of the implemented standards is that investors can have a two-trading day margin to cover their positions, and if they do not cover their positions until the third trading day of the lowest line, they will close their positions; The other implementation is to close the position the next day when the maintenance ratio is less than 115%. At the same time, it said that none of its positions were closed in its business department on Monday morning, but some investors made a call for insurance.
In addition, the spokesperson of the China Securities Regulatory Commission answered reporters' questions on the relevant situation of the pledge: from the beginning of this year to February 2, the Shanghai and Shenzhen stock exchanges disclosed a total of 106 announcements of supplementary pledges by major shareholders, which is indeed a certain increase over the same period last year. However, when the ratio of pledge performance guarantee is lower than the early warning line (rather than the liquidation line), the protective measures agreed between financial institutions such as banks and securities firms (pledgees) and shareholders (pledgees) in order to ensure the security of financing will not lead to forced liquidation.
At the same time, we guide brokerages and other institutions to increase the flexibility of the liquidation line to promote the smooth operation of the market. Judging from the data of the Shanghai and Shenzhen stock markets, the total amount of ** pledge default liquidation since the beginning of this year is 2740320,000 yuan, accounting for a small proportion of the daily turnover of the market. We will closely monitor and take strong measures to prevent staking risks.
Earlier, the China Securities Regulatory Commission announced that it would further strengthen the supervision of securities lending business, completely suspend the lending of restricted shares, resolutely crack down on illegal activities such as detours and cash-out in the name of securities lending, and implement the investor-oriented regulatory concept.
On January 29, the China Securities Regulatory Commission (CSRC) reported on the progress of the phased investigation of the *ST Zuojiang financial fraud case, releasing a signal of "zero tolerance" for violations of laws and regulations. Recently, the China Securities Regulatory Commission has also promoted visits to listed companies, highlighting the clear attitude of the regulatory authorities to support the high-quality development of listed companies.
For the market outlook, analysts believe that from last week's situation, the corresponding indexes of the four major futures indexes have declined, and the basis of the stock index has fallen as a whole due to market sentiment, and has now returned to a comprehensive discount state. Cinda metalworking believes that after this round of **, the risk of snowball knocking has been further released, the impact of the snowball on the stock index ** market has gradually weakened, and the follow-up sentiment may become the main force affecting the basis of the index, if the market continues to weaken, due to the current IM and IC contract basis discount has reached a historically high level, the basis continues to decline sharply The space is limited, and the arbitrage disk may enter the market in time to pull back the discount. For IF and IH contracts, market sentiment may be the main factor influencing the movement of the basis, which may continue to move in tandem with the index.
CICC believes that the current market valuation, transaction and other sentiment indicators are still at the bottom of the historical range, investors' willingness to enter the market is weak, and incremental funds are limited, but considering that the recent policies to stabilize growth, stabilize the market and stabilize expectations are being introduced and implemented one after another, the positive changes in the policy will help to resolve short-term liquidity risks and boost investor confidence, and the follow-up market still has the momentum to continue to repair. Although the market may still fluctuate in the short term due to the long holiday before and after the Spring Festival, there is no need to be overly pessimistic about the medium-term performance of A-shares. At the allocation level, in the short term, we will pay attention to the beneficiary areas in combination with policy changes, and pay attention to the combination of economic recovery and the offensive and defensive combination of dividend assets.