The Market Value of Kechuang Board Returns to the Dispute Dispute of 500 Billion Institutions in Disguised T+0 Operation

category:Finance
 The Market Value of Kechuang Board Returns to the Dispute Dispute of 500 Billion Institutions in Disguised T+0 Operation


As for the A-share market boom, there were previous reports that the liquidity release by the central bank was intensive in recent days, which triggered the rumors of interest rate cut by the central bank.

On the same day, Pacific Securities Strategy analyst Kindaley pointed out to the 21st century economic reporter that the market turmoil rebounded or was related to the return of new capital before the creation of the company.

At present, it is more about the diversion of stock funds, but there may be opportunities for structural trends. The overall follow-up market value room still needs to see more liquidity, and economic or corporate earnings bottomed out. Kindaley said.

On July 24, the three major A-share indexes rose, the Shanghai Stock Exchange Index rose 0.8%, the Shenzhen Stock Exchange Index rose 0.99%, and the GEM index rose 1.22%, of which the GEM index rose 1.77%, nearly 2%.

The turnover of the two cities also increased significantly from 323.1 billion yuan on July 23 to 40.3 billion yuan on July 24.

Electronic communications sector is undoubtedly the most dazzling sector of the day. Shenwan electronics, communications and computer industry led the whole A-share market, rising by 2.33%, 2.25% and 1.86%, respectively. Huawei and Apple industrial chain ushered in a high-light moment, and technology stocks rose sharply.

It is noteworthy that, in addition to the GEM and the main board market, KSCM is also experiencing a small correction in the second trading day after the revitalization of strong momentum, a strong upward trend.

On that day, 25 shares in the companys stock market turned red, with an average increase of 11.39%. The total market value of the company returned to 500 billion yuan.

Fuguang shares, the biggest gainer, surged 49.36%, reaching a new high of 57% in the session. Chinas currency, which has the smallest increase and the largest circulation, also rose by about 1.9%.

However, some investors believe that under the existing trading mechanism and market attention, the current rise of KSCM is not unpredictable.

Yang Ruyi, Executive Director of Chunshi Capital and Head of Securities Investment Department, pointed out to the 21st Century Economic Reporter that it was the first time for Kechuang New Stock to be listed in China in a mode similar to that of Hong Kong Stock and American Stock. At the same time, there was no price limit. Only 25 enterprises were highly concerned by the market, which created a lot of ups and downs in the first few trading days of new stock. Favorable conditions. In addition, Kechuangban implements T+1 mechanism, which results in insufficient turnover of stocks in the first three trading days.

Dispute T+0 Operation

The 21st Century Economic Reporter noticed that in recent days, with the continuous explosion of science and technology innovation board, some investors began to innovate trading mode in order to hedge the volatility risk of new stocks and obtain excess returns, so as to realize the disguised T+0 operation.

But according to 21st century economic reporters, this mode of operation is mainly focused on quantitative funds, and many investors still have controversy about this mode of operation.

A veteran individual investor pointed out: These ingenuities are of little significance. (Quantitative Fund) On the basis of the original principle, they increase flexibility in operation, create more transactions and hedge risks compared with ordinary investors, but they are far from T+0, which can be operated repeatedly, and only indirectly achieve some functions.

In addition, this kind of operation is not universal. It is difficult and dangerous for individuals and non-quantitative organizations.

Source: Yang Qian_NF4425, Responsible Editor of Economic Report in the 21st Century