On December 15, the Beijing stock exchange ushered in the opening full moon. In the past month, the Beijing stock exchange has set sail smoothly. The total market value of 82 companies is 261.194 billion yuan, with a total turnover of 47.897 billion yuan, and the average daily turnover rate of stocks is 1.46%.
Compared with the trading situation of the selected layer in the last month, the activity of individual stocks of the Beijing stock exchange has been significantly improved. Meanwhile, after large fluctuations on the first day of the market opening, the trend of individual stocks in the Beijing stock exchange gradually stabilized, and the daily average amplitude of more than half of the stocks was less than 5%.
Institutions pay more attention to individual stocks of the Beijing stock exchange. According to the statistics of securities times and databao, the number of rating agencies for individual stocks of the Beijing stock exchange has increased as many as 15. Obviously, institutional attention helps to tap more intrinsic value of listed companies.
market activity increased significantly
Compared with the investment threshold of RMB 1 million for the selected layer, the participation threshold of RMB 500000 for the Beijing stock exchange has been greatly reduced. Therefore, qualified investors have expanded rapidly compared with before. Based on this, the trading activity of individual stocks in the Beijing stock exchange increased significantly compared with the last month of the selected layer. Since the second week of the opening of the Beijing stock exchange, the average daily turnover has been RMB 1.568 billion, an increase of 3.07 times over the previous selection layer, and the average daily turnover rate of stocks is 1.46%, an increase of 0.74 percentage points over the original selection layer.
From the perspective of specific companies, the average daily turnover rate of new listed companies such as Tongxin transmission, Dadi electric, jingsai technology, Zhisheng information and Yoshioka precision has exceeded 10%. Among the companies previously listed on the selection layer, Kaitian gas, senxuan medicine, Derui lithium battery and Tonghui information have an average daily turnover rate of more than 6%.
From the perspective of activity change, the transaction activity of 62 companies increased compared with that in the selection level transaction, the daily average turnover rate of 24 companies doubled, and the activity of only 6 companies decreased. Specifically, Kaitian gas trading activity increased most significantly. The data show that in the last month’s transaction of the selection layer, the average daily turnover rate of Kaitian gas was 1.57%, and the average daily turnover rate during the period of the Beijing stock exchange was as high as 7.68%, an increase of nearly four times. In addition, the transaction activity of Northland and senxuan pharmaceutical increased more than three times, and the activity of Derui lithium, Anhui phoenix, Jilin Carbon Valley, Fangda shares and Tongyi Aerospace increased more than twice.
the total transaction scale is relatively low
In addition to the worry that the market is too hot, some investors are also worried that the listing of companies on the Beijing stock exchange may have a blood pumping effect on other markets.
From the operation situation in the past month, the daily turnover trend of listed companies on the Beijing stock exchange is becoming more and more stable. The turnover has been less than 2 billion yuan for 14 consecutive trading days, including less than 1 billion yuan for three consecutive trading days, which has a small impact on the overall market. In fact, in the past month, the turnover of Shanghai and Shenzhen stock markets has continuously exceeded the trillion yuan mark, which has not been significantly reduced compared with the previous month.
Specific to listed companies, funds still favor new energy and new material stocks. Among them, since beiteri’s listing, the cumulative turnover has exceeded 4.9 billion yuan, ranking first. In addition, the turnover of Jilin Carbon Valley, Changhong energy, Northland, Liancheng CNC, Dadi electric and other stocks exceeded 2 billion yuan.
It should be noted that new things are often accompanied by different voices. After the listing of some companies on the Beijing stock exchange, the transaction quickly entered the bottom.
The data show that the minimum daily turnover of Changfu shares, Litong technology, Huawei design and other individual shares is less than one million yuan, and the minimum daily turnover of 22 individual shares such as Jianbang technology, meizhigao and Haomiao technology is less than 2 million yuan. Of course, it should be noted that whether it is the Beijing stock exchange, or the main board of Shanghai and Shenzhen, small and medium-sized innovation, science and innovation board, there are individual stocks with relatively low transactions, which is a normal phenomenon.
The overall performance of stocks was stable
Before the opening of the Beijing stock exchange, due to the low market value of most listed companies, the market once worried about the possible irrational speculation of new shares. In fact, the market did not rise or fall sharply. From the stock price performance on the first day of listing, 11 stocks rose by more than 10%, while 16 stocks fell by more than 10%. Stocks with higher gains were mainly newly listed companies on the opening day.
On the one hand, due to the anticipation of the opening of the Beijing stock exchange, individual stock prices have responded in advance; On the other hand, more stocks are listed together, which helps to disperse risks. At the same time, it also reflects that market rational sentiment plays a leading role.
On this premise, after the opening of the Beijing stock exchange, there will be no basis for individual stocks to fall sharply. According to the statistics of data treasure, since November 16, excluding the newly listed companies on the first day of opening, the individual stocks of Beijing stock exchange have fallen by an average of 10.27%, nine stocks such as Wuxin tunnel equipment, shibibi and Dezhong automobile have fallen by more than 20%, and Northland, Jilin carbon Valley, Kaitian gas, Tonghui electronics and Changhong energy have bucked the market.
Generally speaking, the sharp rise and fall is the symbolic feature of secondary new shares. From the above data, the typical characteristics of secondary new shares do not appear in individual stocks of Beijing stock exchange. In addition, in terms of intraday fluctuations, individual stocks of the Beijing stock exchange performed equally well.
In terms of market performance, the daily average amplitude of stocks on the Beijing stock exchange decreased from 25.51% on the first day of the opening to 5.28%. From the daily average amplitude of individual stocks, the daily average amplitude of 46 stocks is less than 5%, accounting for more than 58%. Specifically, since the listing of Guoyuan technology, yunchuang data, Yingtai biology, Deyuan pharmaceutical and other stocks, the daily average amplitude is less than 3%.
From the amplitude since listing, the cumulative amplitude of 53 stocks is less than 40%, and that of 20 stocks such as Tonghui electronics, Guoyuan technology and Deyuan pharmaceutical is less than 30%.
the attention of institutions has increased significantly
The full moon of the opening of the Beijing stock exchange runs smoothly, making most stocks still in a relatively low position in terms of market value and P / E ratio. According to the data, more than 90% of the stock markets in the Beijing stock exchange are worth less than 5 billion yuan; The latest rolling P / E ratio of 45 stocks is below 30 times, accounting for more than half.
The first batch of listed companies of the Beijing stock exchange focus on the main business and deeply cultivate the subdivided fields. Their profitability, growth and valuation can be comparable to those of listed companies on the A-share main board, with broad growth space in the future. For such a gold mine to be excavated, institutions also began to speed up the admission.
According to data treasure statistics, the number of agencies rating individual stocks of the Beijing stock exchange reached 153, an increase of 18 compared with that before the opening of the market. Among them, the number of rating agencies for Hechang polymerization and hisch communication increased by two, and Zhisheng information, Tongxiang technology and Jinhao medical increased by one.
The improvement of institutional attention will help the market better find value. On December 13, Northland’s share price rose, sealed the trading limit in the last hour of the trading session, and the intra day turnover rate reached 8.35%. The latest circulation market value was 3.55 billion yuan, and the intra day turnover reached 282 million yuan.
This is the first stock with a 30% limit on the Beijing stock exchange. Market analysts believe that the sharp rise in Northland’s share price may be mainly due to a research report. Guosheng securities earlier released a research report entitled “taking the lead in the era of gene therapy, and the value of 5 billion heavy single products is currently undervalued”. It is estimated that the total market value of Northland should be 15.27 billion yuan, while the current market value of the company is less than 5 billion yuan.
In addition to the increase in the number of agency ratings, buyer agencies are also selling. As of December 14, the number of qualified investors in the Beijing stock exchange has exceeded 4.6 million, an increase of about 1.7 times compared with that before the announcement of the reform news. In addition to direct participation, other channels such as public funds also received high attention, and the first eight theme funds all realized half day over raising.
The “report card” of the first month of the opening of the Beijing stock exchange was full of highlights, the market operation was generally stable, professional institutions actively entered the market, and the trading activity was improved
The “full moon” of the opening of the Beijing stock exchange: funds prefer the head, and the growth of the companies under review is prominent
(Securities Times)
