The market is no stranger to the scene that convertible bonds encounter the crazy pursuit of funds.
Similar to the market in March this year, hot money once again focused on convertible bonds with small balance to speculate, but the crazy speculation also means that risks are brewing.
Just as in the first half of the year, convertible bonds experienced a forced redemption storm, which led to the collapse of high premium rate convertible bonds, and the follow-up investors were forced to take over.
The hype of blind running still needs to go through the market test.
According to the data on October 21, Wanli convertible bonds closed up more than 72%, with a turnover rate of 12588.91%; Blue Shield convertible bonds rose by more than 27%, with a turnover rate of 12436.26%; Jiuzhou convertible bonds rose by more than 20%, with a turnover rate of 3024.49%.
From the balance of several convertible bonds, the scale is about 100 million yuan. Among them, the balance of Wanli convertible bonds was only 63 million yuan, that of Blue Shield was 100 million yuan, that of Kyushu was 115 million yuan, and that of initial convertible bonds was 382 million yuan.
In fact, the 21st century economic reporter has noticed that there is an important feature behind the current round of convertible bond speculation, that is, some convertible bonds with hot concept speculation background are being selected as the battlefield for hunting by hot money.
For example, Blue Shield convertible bonds, its main stock (300297. SZ), is rising continuously due to the concept of quantum technology. According to the data, on October 21, the stock price of Blue Shield stock was up and down, and since October 16, the stock price of Blue Shield stock has risen for four consecutive days, including the limit on October 19.
The price rise brought by speculation is also attracting more and more ordinary investors attention. The reporter of 21st century economic report found that many investors discussed trading in the Blue Shield convertible bond stock bar. Some investors directly pointed to the concept of quantum convertible bond of Blue Shield convertible bond and actively participated. Some investors also lost money and cut flesh in speculation.
However, at present, the premium rate of Blue Shield convertible bonds has reached 177.59%. Earlier, Taijings sudden mandatory redemption of convertible bonds gave a heavy blow to high premium convertible bonds. After speculation, they went to chicken feather in one place.
The aforementioned analysts said that after entering the period of stock conversion, the forced redemption will be started at any time. Once the forced redemption is carried out, the premium rate will be close to 0 immediately. Therefore, similar high premium demon tickets have risks. We should focus on those convertible bonds with a price above 150% and a premium rate of more than 30%.
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