Friends, the three major indexes collectively closed down on Thursday, and the leeks were ruthlessly harvested again, is there any hope for the future of the A-share market?
Everyone may be disheartened now, and investors in the market are now unanimously suggesting that A-shares be shut down, so that everyone can rest and rest, and they can also feel this desperate and helpless psychology.
Judging from today's after-hours northbound capital data, the net outflow of more than 10 billion yuan, combined with today's intraday domestic capital outflow of 27.9 billion yuan, today's overall market shrinkage, the net inflow of domestic and foreign capital is nearly 40 billion, and it is indeed difficult to rise.
Under the extreme pessimism of the market, investors and friends have finally waited for a few good news, can they make Friday's A-shares usher in a turnaround? Let's take a look at the analysis:
1. The Shanghai Stock Exchange made an emergency move, and 5 companies were terminated by the Shanghai Stock Exchange after hours, which is relatively rare:
Since the three major exchanges restarted IPO acceptance, everyone's impression of IPO has been unfriendly, because they are worried that after the normal resumption of IPO rhythm, it will have a greater impact on the market.
The best proof is that the three major exchanges will still implement strict supervision measures after the resumption of procedures, and the control of IPOs will be stricter, which will alleviate the market's worries.
After trading today, the Shanghai Stock Exchange terminated the review of 5 listed companies in one go, including 3 on the main board and 2 on the science and technology innovation board, namely:
The three main boards are: Luba shares, five new technology, and Haidian operation and maintenance;
The two companies on the Science and Technology Innovation Board are: Borche Intelligence and Huaguang Optoelectronics;
It should be noted that since the launch of Article 8 of the Science and Technology Innovation Board, everyone thought that the speed of listing on the Science and Technology Innovation Board would be significantly accelerated, but the Shanghai Stock Exchange's attitude today is also very clear, and it has achieved a "zero tolerance" attitude towards IPO issues.
So far, the first half of the year is basically over, this year's IPO listed companies a total of only more than 40 companies, IPO terminated more than 200 companies, since June has been withdrawn IPO has more than 80, there have been a big change.
2. The latest news from the China Securities Regulatory Bureau, the pilot project for the supervision of securities private placement entities has been launched, and 20 private placements have entered the first batch of lists, what does it mean?
In order to establish an effective communication mechanism between the regulator and the market and improve the ability of the regulatory authorities to identify industry risks, the pilot project for the supervision of private equity entities was launched.
The picture comes from the Financial Associated Press
What does this mean? There are several main aspects:
First, the institutions included in the supervision this time involve stock longs, quants and bonds;
Second, the first batch of 20 private placements will be included in the list, and they can be transferred in or out at any time according to the regulatory situation, indicating that this is dynamic supervision;
Third, in the process of supervision, once a problem is discovered, it will be rectified immediately, and regulatory measures will be taken when necessary, so as to cultivate the compliance awareness of private placement.
Many people see such news and think that it is not a big negative for the market? Judging from the current market performance, the regulator's ability to take action on private equity is actually a kind of active risk prevention.
Because those who enter the regulatory list will be included in the key monitoring and rectification, especially some quantitative institutions, which are currently the focus of market attention, in a sense, can indeed have a guiding role.
3. The latest news on the public offering of central enterprises, the public offering of salary has begun, what do you think of this matter?
The picture comes from the Financial Associated Press
There are actually two pieces of news about the public offering:
First, the public offering rate of the central enterprise system began to be refunded, the first one was handed in before this Friday, and then all the salaries were completed in mid-August. The public offering of central enterprises has once again set an example and benchmark in the public offering industry, playing a leading role, and the next step is for other major public offerings to follow up one after another.
Second, according to the latest statistics, the number of fund managers leaving their jobs so far this year has reached 159, involving 93 public managers. This is the highest number of people in the same period in 0 years, and the highest number of people in the previous high period was 183 people in the same period in 2015.
What does this mean? The public offering industry is ushering in great changes, the era of public offering to win has passed, the era of the financial industry is also passing, this year's investment banking and public offering and private placement is definitely a year with a large psychological gap.
In fact, salary retirement, salary reduction and resignation are all related to a certain extent, behind which also reflects the current bleak market, a large number of resignations in 2015 was because of the stock market crash, and now a large number of fund managers are leaving, which also shows that the stock market is comparable to the level of the stock market crash that year.
For shareholders and funds, there is another question that they want to know, that is, whether the funds returned to the fund company or used for compensation for the losses of the people? This is still a difficult question to solve.
4. Finally, a new news ushered in the collective speculation of shareholders, is it good for Da Mo to establish a private equity company?
The picture comes from the Internet
Is the establishment of a private equity company in China a benefit or a disadvantage to the A-share market? Judging from the fact that the Standing Committee of the People's Republic of China vigorously introduces and utilizes foreign capital, it is natural to encourage foreign capital to actively enter the domestic market.
The establishment of private equity by foreign investors can indeed increase the number of domestic venture capital funds, but it may also have a certain negative impact, because private equity may carry out quantitative business, and may also use the short-selling rules in the market to have a certain impact on A-shares.
Therefore, there are advantages and disadvantages, the key is to strengthen the management of private placement, whether it is a private placement established by foreign capital or domestic capital, it should be legal and standardized.
In general, the overall after-hours news is that the benefits outweigh the disadvantages, private placements ushered in strengthened supervision, public offering salary reform has begun, and the Shanghai Stock Exchange IPO continues to tighten, including the central bank's voice:
Giving full play to the role of the Financial Stability Guarantee Fund to effectively prevent and control financial risks may mean that if the market continues to be weak, the Guarantee Fund will actively rescue the market and prevent uncontrollable risks in the financial market.
5. For Friday's market:
At present, the long and short are not wrong, because they are still in the stage of the bottom entanglement, and the previous low of 2933 has not fallen below, so it is not appropriate to be overly pessimistic, but the market volume can be sluggish, and it is unrealistic to be optimistic.
The whole is still in the observation period, but considering that there will generally be corresponding blockbuster measures released after the market on Friday, after the delivery of various stock index futures this week, the market bulls may have the opportunity to raise their eyebrows on Friday.
After the general decline in the market on Thursday, there is a high probability that it will rise again on Friday, so keep this expectation.
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