Too crazy! Convertible bond market 15 times a day, maximum turnover 12570percent

category:Finance
 Too crazy! Convertible bond market 15 times a day, maximum turnover 12570percent


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Investors need to be alert to the more abnormal hype logic behind the market boom. This led Blue Shield convertible bond is not afraid of bad luck, with the highest increase of 150% in three days, far away from the positive stock performance of the same period. At the same time, demon debt as a new type of speculation this year is becoming the Reaper of funds. Todays leading varieties almost all receive long-term shadow lines. The Shanghai stock markets follow-up speculation varieties have directly killed the follow-up funds in the last three minutes.

Rare fuse surge! The total turnover of convertible bond market exceeded 71 billion yuan

Since the last hype of demon debt in March, the phenomenon of collective triggering fusing of convertible bonds has reappeared!

Specifically, the Blue Shield convertible bonds triggered the circuit breaker mechanism to suspend trading temporarily for two times. As of the end of the closing, the increase narrowed to 320 yuan, reaching the highest closing price in history, up 13.07%.

By the end of the 20th, most of the convertible bonds had recovered their gains. Only Shenglu convertible bonds rose 32.29% to 336 yuan, while the China Securities convertible bond index closed up 0.44%.

When it comes to the reasons behind the circuit breaker wave of convertible bonds, the article of China Securities Journal said that the emergence of the circuit breaker tide was accompanied by a surge in turnover rate, and the trend deviated from the stock market, indicating the risk of fund speculation.

Successfully rubbed against the quantum hot spot, Blue Shield convertible bond broke four times in two days

The turnover exceeds the total market value of principal shares

Blue Shield convertible bond is undoubtedly one of the most eye-catching. Blue Shield convertible bonds rose nearly 100% in three trading days, and hit the circuit breaker four times in two trading days, causing strong market concern.

Recently, quantum communication concept stocks have shown strong performance. Blue Shield shares had a one word trading limit on October 19, which made the funds that failed to get on the train in time turned their attention to its convertible bonds, which triggered speculation. A large number of hot money poured in, causing it to stop several times. Finally, the market closed up more than 64% and the turnover reached 5.611 billion yuan.

It is worth mentioning that on the 20th, the turnover of Blue Shield convertible bonds reached a record high, reaching 12.62 billion yuan in a single day, which exceeded the total market value of its principal shares, and the turnover rate reached an exaggerated 12570%. At present, the price of Blue Shield convertible bonds is 320 yuan, which is 2.2 times of the book value premium. This means that if the price is converted into shares or redeemed, the actual value of Blue Shield convertible bonds is very little, and the result of either way will face a huge loss.

It is worth noting that not long ago, Blue Shield announced that recently, through the results of public information inquiry such as China executive information disclosure network and Tianyan, we learned that Ke Zongqing and Ke Zonggui, the controlling shareholders of the company, some subsidiaries and the company were included in the list of dishonest Executees, which is commonly known as Lao Lai.

In addition, Blue Shield shares also said that due to some overdue debts, the company and its related subsidiaries were faced with lawsuits, payment of relevant liquidated damages, overdue fine and penalty interest, and being listed as the person to be executed for breach of trust, which had a certain impact on the companys net profit. In addition, due to the application for property preservation before litigation, some bank accounts and assets of the company have been frozen / sealed up by the court u3002

Convertible bonds bring a wave of circuit breakers and many companies prompt trading risks

Landun shares announced in the evening that recently, the price of Blue Shield convertible bonds has seriously deviated from the relationship between the companys share price and has deviated from the reasonable value range, and has nothing to do with the market macro environment, industry situation and operation conditions, mainly due to the influence of market funds. In addition, for the concept of quantum communication, the company announced that it had not carried out market business in the field of quantum technology and had no relevant business income.

Shenglu Communications said that recently, the price of Shenglu convertible bonds is relatively high, which is mainly due to the small circulation of convertible bonds of the company, which is affected by market funds. Please pay attention to the investment risks of the majority of investors. The closing price of Shenglu convertible bonds increased by 32.29%, and the turnover rate reached 3109.92%.

Molding technology also pointed out that there is no information that should be disclosed but not disclosed by the company. The company will strictly comply with the provisions and requirements of relevant laws and regulations, conscientiously perform the obligation of information disclosure and do a good job of information disclosure in a timely manner. Moulded convertible bonds rose 27.75% on the 20th.

According to securities companies in China, Yu Jingwei, a bond analyst with CITIC Securities Research Department, believes that the convertible bond index has been relatively stable this year, but there are several target stocks that have skyrocketed in the year. The common feature of these hot speculation convertible bonds is that the market value is small and easy to control. Meanwhile, in terms of trading mechanism, the convertible bonds have no limit on limit, and they are t + 0 mechanism with less capital Gold can pry the mark.

He also pointed out that many hot speculation stocks are hot money in the participation, the participation of institutional investors is very low. At present, the premium rate of some convertible bonds is relatively high, which has deviated from its own fundamentals and industry average. Recently, the relative value of the premium rate of some convertible bonds is still rising, and the irrationality of trading is further enhanced. It is easy for individual bonds to rise and fall in a single day. Investors should be careful of the risks and not blindly follow suit.

(this article is for reference only and does not constitute an investment proposal. Therefore, the operation risk shall be borne by yourself.)