A rumor stirred the market, and regulators and industry bodies quickly refuted the rumor.

　　The reporter learned from relevant persons close to the regulatory authorities that on September 27, the relevant media reports on brokers and fund managers receiving regulatory guidance were false information, and the regulatory authorities have not given relevant guidance to securities and fund companies recently.

A rumour stirs the market

Approaching regulatory stakeholders: The news is untrue!

　　According to the reporter’s information, some media reported during the opening of the stock market on September 27 that Chinese regulators, through window guidance, required some fund managers and brokers to stabilize the market before the 20th National Congress of the Communist Party of China next month and avoid large-scale stock selling. cause the market to fluctuate significantly.

　　According to relevant sources close to the regulatory authorities, the above-mentioned media reports are false information, and the regulatory authorities have not given relevant guidance recently.

　　A general manager of a public fund in Beijing confirmed the above statement. He has not received the above request from the regulatory authorities recently, nor has he heard other executives in the industry receive the above window guidance. The above reported information is not true.

　　A brokerage executive also said that in general, the regulators will not intervene in the market for short-term rises and falls in the stock market, and his brokerage institution and peers have not received relevant regulatory guidance.

In his view, the important responsibility of the regulators is to coordinate the development and safety of the capital market, and to maintain the bottom line of no systemic financial risks. Short-term stock market fluctuations are spontaneous behaviors of the market and will not trigger regulatory intervention.

　　The brokerage executive analyzed that since the 18th National Congress of the Communist Party of China, in the face of the complex and changeable domestic and foreign economic and financial situations, the construction of the rule of law in my country's capital market has achieved significant results, the ability to supervise according to law has been significantly improved, and the legal system of the capital market has been "four beams and eight pillars" Optimization and improvement, and the comprehensive and deepening reform of the capital market have also laid a good foundation for the high-quality development of the industry.

Therefore, from the perspective of marketization and the rule of law, supervision will not interfere with the normal operation of the market due to short-term market fluctuations.

　　The above-mentioned relevant persons close to the regulatory authorities also stated that adhering to the principles of marketization and the rule of law, and implementing "system establishment, non-intervention, and zero tolerance" are the basic policies of the regulatory authorities, and will not interfere with the market due to short-term market fluctuations and different time points. of normal operation.

A-shares turn red strongly

Low market valuations do not need to be pessimistic

　　As of the close on September 27, the broader market index showed a general rise: the Shanghai Composite Index closed up 1.4%, and the index point approached 3,100 points; the CSI 300 rose 1.45%, the CSI 500 rose 1.96%, and the ChiNext Index rose 2.22%.

Driven by the strength of the pharmaceutical and biological, food and beverage sectors, A-shares have swept away the recent decline and emerged from a wave of strong red market prices, which boosted investor confidence.

　　A number of industry insiders said that in the 2022 interim report just disclosed the end of the performance gap, the recent market performance as a whole is still affected by the market itself on various good and bad news, overseas markets, Russia-Ukraine conflict, investor expectations, etc. , all have an impact on market trends.

In terms of supervision, it has not interfered with the normal operation of the stock market.

　　However, various institutions also believe that the A-share market has a bottom in the downside, and investors do not need to be pessimistic when the valuation of mainstream market indices is low. Investors who buy at low levels in the market will have a significantly higher probability of long-term investment profitability.

　　An analysis of public offering by a bank in Beijing shows that the factors affecting the market trend around the National Day this year mainly come from three aspects: one is the impact of overseas markets; the second is the possibility of intensifying conflicts between Russia and Ukraine; Epidemic prevention and control may pose a certain pressure.

　　A public offering in South China also believes that the A-share market is expected to remain weak in the short term, but investors' top-down expectations are expected to gradually improve, and the market has bottomed out. Investors need not be pessimistic.

At the structural level, the agency recommends a balanced allocation of the three main lines of "consumption real estate + growth + energy inflation".

(China Fund News)