Perhaps it will still be thrilling to recall the recent capital market many years later.
Zhonggai shares suffered an epic sell-off and blood flowed into a river. A shares and H shares also fell sharply, and about trillion market value evaporated in two trading days of Tencent holdings and Alibaba alone.
It is more cruel to see the real situation in the battlefield of besieged and hostile capital than in the international battlefield.
Although history is familiar, it is not a simple repetitionP align = “center” zhonggai shares were bloodwashed again
The recent zhonggai stock market is full of blood.
Even if the news of interest rate hike in the US East is not stable, the performance of the US East index will not rise or fall on Monday. As of the close, the Dow was flat, the NASDAQ fell 2.04% and the S & P fell 0.74%.
However, China concept shares fell sharply again.
Specifically, iqiyi, pinduoduo and Zhihu fell by more than 20%, while Alibaba, BiliBili, douyu and manbang fell by more than 10%. Boss direct employment fell 9.99%, baidu fell 8.37% and didi fell 6.88%. The new forces of car making also weakened. Weilai automobile, ideal automobile and Xiaopeng automobile all fell by more than 12%.
according to the statistics of US stock investors, from the historical high of 261 Chinese stocks to the closing on March 14, the total market value of Chinese stocks evaporated, reaching a shocking $4.17 trillion
In the view of the industry, the sharp decline of zhonggai shares is related to the inclusion of five zhonggai companies in the provisional identification list by the U.S. Securities and Exchange Commission (SEC).
On March 10, the US SEC Website disclosed that the five companies that entered the “temporary identification list” due to the foreign company Accountability Act were Yum China, Baiji Shenzhou, zaiding pharmaceutical, Hehuang pharmaceutical and shengmei semiconductor.
Some analysts believe that this bill has greatly hit the performance of zhonggai shares, coupled with the malicious shorting and deliberate suppression of relevant capital, resulting in a huge earthquake of zhonggai shares.
In connection with the previous short selling of nickel futures of Qingshan group, it is not difficult to see that under the complex and changeable international pattern, the financial field is becoming a new round of battlefield for both sides of the gameP align = “center” A-Shares Hong Kong shares are hard to survive
The sharp decline of zhonggai shares also affected H shares and a shares.
On March 15, A shares fell , funds fell both went on a hot search, and the investors were numb.
The three major A-share indexes opened low and rebounded after bottoming in early trading, and the gem index once turned red. In the afternoon, the three major indexes continued to fall, and the Shanghai index fell nearly 5% to 3100 points, the first time since July 2020.
As of the close, the Shanghai index fell 4.95%, the Shenzhen composite index fell 4.36% and the gem index fell 2.55%.
On the disk, market sentiment fell to the freezing point, industry sectors collectively fell, coal, oil, real estate, steel and other heavyweight sectors led the decline, and only the electronic ID card sector closed red For stocks, 4400 fell, but less than 250 rose
The turnover of Shanghai and Shenzhen stock markets exceeded 1.1 trillion yuan. In particular, the net sales of northbound funds throughout the day was 16.024 billion yuan, which was a net outflow for the seventh consecutive trading day. The net sales in these two days have exceeded 10 billion yuan.
for the sharp decline of a shares, some analysts believe that in addition to the impact of the international situation and external markets, the impact of the epidemic can not be ignored
Since March, the epidemic situation has continued to be serious in many places across the country, including Shanghai, Shenzhen and other economically developed cities. For example, the business departments of all securities companies in Shenzhen have suspended on-site services, and the managers of many fund companies are living in the company.
The aggravation of the epidemic has further heated up investors’ concerns and increased downward pressure, which led to the selling and departure, resulting in A-share irresistible unilateral decline.
Hong Kong stocks were also trampled. On March 15, Hong Kong stocks, which recorded the largest one-day decline in history, continued their decline. The Hang Seng Index fell 3.07% at the opening and fell below the 19000 point mark. The decline widened in the afternoon. As of the closing, it fell by 5.73%, breaking the 19000 point mark for the first time in six years. The Hang Seng technology index also closed down 8.1%, reaching a record low.
After returning to Hong Kong, the concept shares fell collectively, Alibaba fell nearly 12% and continued to brush a record low. Hong Kong stock Tencent holdings fell more than 10% to HK $298.6, falling below the HK $300 mark.
in sharp contrast, triple shorting in US stocks continued to soar
As of March 15, triple short FTSE China ETF rose 20.68%P align = “center” what is the future trend of market
However, although A-Shares and H shares are miserable, international banks shout “super match China”.
Goldman Sachs said that at present, the Chinese market is oversold and maintains the oversold MSCI China Index. The agency believes that the fair P / E ratio of MSCI China should be 12.5 times, rather than the current 9.9 times, which is the lowest in six years.
at the same time, despite the extremely depressed market, many institutions believe that China’s “steady growth” policy is expected to work again
Citic Securities Company Limited(600030) said that the “steady growth” policy will enter the critical point of renewed force: first, the window of China’s monetary policy aggregate tool has not been closed in March, and the Fed is likely to raise interest rates by only 25 basis points; Secondly, the main line of China’s infrastructure construction has taken the lead, and the infrastructure projects, funds and implementation plans are ready. Subsequently, with the “steady growth” policy working again, A-Shares are expected to usher in a resonant upward trend of value and growth.
Western Securities Co.Ltd(002673) believes that looking forward to the future, with the landing of the Fed’s interest rate increase and the superposition of China’s monetary policy, there is still room for further development, and the market liquidity expectation is expected to usher in periodic correction. As the disclosure window period of the annual report and the first quarterly report approaches, the leading companies of the boom track with large adjustment range in the early stage and high performance fulfillment are expected to usher in a round of restorative market.
Guosheng Securities pointed out that in the short term, the market is in the “domestic worries” of the late spring of the covid-19 epidemic in China and the “foreign invasion” of the stock market in the uncertain geopolitics, the Fed’s interest rate hike and the withdrawal of overseas funds. The impact on the market sentiment may still need to be further digested, and there are some signs of freezing point. Historically, it is often near the bottom of the band. As China’s “steady growth” policy moves forward appropriately and inflation pressure is controllable, the Shanghai index, which is at a relatively low valuation in history, is expected to desensitize to external disturbances and usher in a turnaround. It is suggested to maintain the allocation proportion of value higher than growth in investment. “Steady growth” and “recovery of the middle and lower reaches of the manufacturing industry” will become the main logic driving the operation of the market.
