Chinanews.com client, Beijing, July 15 (Xie Yiguan) "Stock trading, you never know which surprise or fright comes first." On the 14th, many investors have not eased from the excitement of yesterday's stock market surge, There has been a pullback in the stock market.
On the 14th, the three major A-share indexes opened slightly lower and wide-range shocks throughout the day. There was a rapid decline during the day. The Shanghai index once fell by more than 2%, the Shenzhen Component Index and the GEM index fell by more than 3%. What was pulled up narrowed the decline.
"This is a heartbeat!" Some investors said.
Shanghai index K chart.
The turnover of the two cities exceeded 1.7 trillion, and more than 2,000 shares closed down
On the 14th, the volume of A shares fell. Compared with the 1.67 trillion yuan on the 13th, the turnover on the 14th exceeded 1.7 trillion yuan. High position.
As of the close, the Shanghai index fell 0.83% to 3414.62 points; the Shenzhen Component Index fell 1.08% to 13996.46 points and fell below 14000 points; the GEM Index fell 1.06% to 2856.67 points.
On the disk, the industry sector is more green and less red. The daily-use chemical industry, business agents, software services, transportation facilities and other sectors have fallen sharply. The shipping, diversified finance, telecommunications operations, and aviation sectors closed against the market.
A total of 2373 stocks in the two cities closed down, and 28 stocks fell; 1306 stocks closed up, and 148 stocks fell. On the 13th, 3468 stocks in the two cities rose, and 209 stocks hit a record high.
Why did the A-shares quickly pull back on the 14th? From the point of view of comprehensive institutional analysis, in addition to the impact of the epidemic situation and the uncertainty of interim performance, or due to the spread of the late US stock market overnight jump, on July 13, the US stock index fell 2.13%, and the S&P 500 index fell 0.94%. The index rose 0.04%.
In fact, before the callback of the A-shares on the 14th, the market cooling information has recently appeared. In addition to the strict supervision of the off-site allocation of funds to the market to cool down, the social security funds and industrial capital have been intensively reduced, and market funds have also released "coolness." "signal.
Information figure: Securities company staff guides stockholders in online transaction process. China News Service reporter Yin Liqin
The net outflow of main funds was 133.6 billion, and the single-day net sales of foreign capital set a historical record
Northbound funds have been called "smart funds" for a long time, and large net outflows often indicate that the market will undergo violent fluctuations. Based on this, many investors are concerned about the trend of northbound funds as a vane.
Wind data shows that northbound funds sold unilateral net sales of 17.384 billion yuan on the 14th, the single-day net sales amount hit a record high. Among them, Shenzhen Stock Connect sold a net 12.389 billion yuan, also breaking a record high; Shanghai Stock Connect net outflow was 4.995 billion yuan.
"Statistics have found that the main force leading foreign investment in and out recently is more transactional funds, and it does not exclude that some domestic capital borrows to go north." Zhang Qiyao, an analyst at Guosheng Securities, said, "There is no need to pay too much attention to the short-term capital inflow and outflow in the short term. The short-term adjustment of trading funds should not be followed blindly. Long-term trends are the key."
In addition to the reduction of foreign investment, the main capital also experienced a net outflow on the 14th. Data show that the net outflow of main funds throughout the day was 133.698 billion yuan, setting a new record of outflows in a single day during the year.
According to media statistics, this year's main capital outflow exceeded 100 billion yuan in only 4 trading days. The first three occurred on February 28, March 9, and March 16, respectively, and the outflows were all around 110 billion yuan. At that time, affected by the epidemic, European and American stock markets plunged several times.
Data graph: Two investors are fiercely discussing the trend of the stock index. China News Agency reporter Wei Liangshe
The stock market is now correcting, and stockholders should "do nothing" or close as soon as possible?
"From a policy point of view, the regulators have shown strong determination to prevent future stock market volatility and bubble accumulation, which has largely curbed the speculative enthusiasm of the market." Shanxi Securities believes that the attitude of the regulators is not expected to change in the future. Its series of policies and measures may lengthen the cycle of this market. "In the medium term, in the context of the recovery of the domestic economy and the rebound in supply and demand, market confidence has increased, and the increase in incremental funds has led to a strong market volume, and the upward trend of the market will continue in the future."
Zhongyuan Securities analyst Yang Zhenyu also believes that this round of "filling the depression" market is not over, the impact of shareholder reductions and lifting of banned shares is relatively short-term, and in the case of high market risk appetite and sufficient liquidity, continue to adhere to the midline market to do more.
"It is expected that A shares will achieve a rebalancing of valuation after this round of valuation "filling in the market". At the same time, cyclical factors and epidemic factors will jointly cause the profitability of different industries to diverge, which will promote the valuation to diverge again. A shares will return To the structural market." Zhongyuan Securities said.
However, another voice has begun to appear in the market, that is, it is not in the early stage of this market, but in the middle and late stages.
According to Cai Fangyuan, a strategic analyst at Galaxy Securities, under the catalysis of factors such as the reduction of the central bank's discount rate and the "upgrade" of the Shanghai Stock Index, the stock market is prone to a sharp rise in stages, but it is not appropriate to underestimate the potential risks of gradually rising. Looking ahead, there is still room for growth, but the price-performance ratio is declining, and the level of optimism about the stock market needs to be lowered.
In addition, "the GEM index accelerated last week, an increase of 12.83%, and the turnover rate exceeded 5%." Some market analysts believe that the turnover rate has reached a historical alert level of more than 5%, which indicates that the short-term market has increased volatility. risks of. (Finish)