Category: Money tips Release Date: 2006-04-07
Source: Thunder Panorama Network
Shenzhen and Shanghai stock market have shifted, the two cities is another recent low trading volume. According to Panorama network statistics, from June 20 the stock market started to decline since the volume is a phased decline, why will lead to price rise minus? Aiming for a huge amount of money early then? Our five areas of the market caused by diversion of funds has made an analysis, hoping to find a minus reason.
According to our observations indicate that the duty rate will rise, greatly increasing the cost of speculation, leading to the withdrawal of speculative funds, pre-boosted by the high turnover rate of the subject shares, garbage stocks, the recent adjustment is quite large, it will indicate short-term speculative funds have chosen leave and instead chose to enter the cost of smaller speculative trading of warrants, closed-end funds varieties speculation.
At the same time, the issue of new shares of funds on the stock market side there are no small impact on the old part of prudent investors choose less risky purchase of new shares, earlier in June, China's ocean-going IPO online and the freezing of funds under the aggregate of up to 1.629 trillion yuan, a record freeze financial record. Today, four new shares will also be released at the same time Topband Electronics has been listed on the first day of sharp speculation, of new shares to make money effects are more obvious, and because the central bank to combat illicit funds, the success rate of new shares recently hit a new high, many investors holding cash at hand to watch, waiting for purchase, on the stock market funds surface give rise to huge pressure.
Second, foreign capital continued to face China's stock market turmoil, but also choices evacuation, QFII the largest FTSE Xinhua A50 massive hit in April, following redemption of the Fund, after May's sharp decline in net asset value of 5.421 billion yuan, to 5 the end of the assets had dropped to 15.582 billion yuan, 25% of the redemption of the month again. As listed in the Hong Kong market index fund trading, the FTSE Xinhua A50 size of the Fund come down substantially, showing a strong foreign investors take profits pre-awareness, as well as holders of short-term operation of a strong signal.
Again, the number of new accounts will continue to the next, leading to off-increment funds continued to decline, according to the China Securities Depository and Clearing Center data show that the number of new A-share accounts at the highest day from the additional nearly 40 million, to reduce to the 3 day new 70000, the new funding to reduce the potential capital-chain tightening, the stock market rebounded a lack of willingness to follow up funding, so that broad market continued to shock.
In addition, the recent concentration of financial operations has increased, funds and QFII face of shocks City, have chosen varieties of defensive hedge fund Bao Tuan obvious signs of heat today, high-quality stock and pre-financing by stocks were sought after as an example. QFII fund managers generally expressed by using adjusted market, the stock position to speed up the restructuring will. Which, APS China A Share Fund, said it will use short-term market adjustment, the position from the current holders of not less confident species, transfer to the undervalued and the company on the defensive. They expect short-term market as investors fear the policy will continue to face changes in shock, but the medium to long term, the market because corporate profits will rise and accelerate the yuan rise in bullish. Large number of funds transfer positions, select a long-term holders of stocks against defensive stocks "winter."
According to Panorama Network statistics show that June 20 cities total turnover reached 308.476 billion yuan, June 22, 25 stocks fell sharply, the two cities from 260 billion yuan turnover shrank to 219.3 billion yuan. June 26, 27 two trading days, the two cities only to maintain the volume in 2000 billion level. In June the last two trading days, the turnover has reached less than 200 billion yuan. July 2, 3 two trading days, volume has shrunk to 1,300 billion, June 20 turnover of less than half the battle. Today, Shenzhen and Shanghai stock markets once again closed at land supply, the two cities is only 110 billion turnover, the amount of turbulence in the broader market in a small once.
