Today's market in the face of a favorable policy situation, regardless of the big drop, fell below 2,500 points in one fell swoop, but also almost met the previous low of 2,449 points. Some netizens said that now everyone has no strength to interpret the favorable policies, it is really a fall.
To be honest, it’s no surprise that the small and medium-sized stocks have fallen, but at this point, it’s unexpected that the SSE 50 can still fall by more than 2%. The index has now fallen below the new low since January 2017. Doesn't the national team want to love blue chips?
This kind of falling method, the most hurt is the various graded funds. In the intraday, there were more than 10 grades b falling to the limit, to the close, with the market counterattack pulling back 2500 points, these grades b also left the daily limit However, there are still 4 stock-type rating funds falling more than 9%.
From the price of today's closing, there are already 13 tiered funds b. The secondary market transaction price is lower than 0.45 yuan, and the data from Xincaitong shows that there are already 19 funds facing the danger of falling.
Of the 19 tiered B funds, some share only a few million. If you fold down four in one, then these funds have a share of only 1 million. Among the 19 funds that face the next discount, the largest one is the national defense B, and there are more than 800 million shares. The net value is 0.28 yuan, which means that if the relevant sector only drops 3%, this grade B will It fell 12% and entered the conversion, so the scale was reduced to 200 million. The second largest small and medium-sized B has a current share of only 156 million. Once converted, both scale and net worth will fall below 40 million. The smallest share of 1000B, the current share is only 1.59 million, and then converted, the share will be less than 400,000!
The most powerful part of the securities market is to take the initiative to move all over the body. If these small-level funds are liquidated according to the standards of the mini-funds, they will form a more concentrated selling pressure in the market, and if the valuation of the relevant stocks is lowered, In addition, the price of other stocks will fall due to the price comparison.
Therefore, if 19 of these 20 funds have a share and a net value of less than 50 million due to conversion, and therefore need to concentrate on the liquidation process, then the sales brought by the combined liquidation will not enter the market at present. In the case of willingness, it will once again bring heavy selling pressure to the city.
What is more serious is that the new asset regulations originally reduced the selling pressure brought by the clearing and grading fund to the market. It has given a two-year clean-up period, but it has been seriously affected by the expected slip. Falling the law, less than 2020, the classification fund may be extinct.
At present, there are only two grade B (with conversion arrangements) with a scale of more than 1 billion. One is the GEM, the scale is 2.6 billion, and the other is only the brokerage b. The scale is 1.9 billion, and the rest are less than 3.5. Billion share. In other words, if these funds are converted once in a year, then there are only 2 grades with a scale of over 100 million! This is still assuming that the investor does not redeem the calculations!
In the past, the scale of a grade B can reach tens of billions. Now, the total scale of dozens of grades b can't reach tens of billions! The market is warm and cold, who invests, who knows!
The most serious impact of the new asset rules on the securities market, the first is the structured products of private equity funds, and then the turn of the pledge of the major shareholders of listed companies, and finally the grading of the very popular grading funds in public funds, one It is quite ridiculous to constantly eliminate the market of investors and talk about the bottom of the valuation and the bottom of the policy.
What's more, investors who invest in high-quality stocks by themselves have been deceived by the "competent stocks" such as Changsheng Bio. They can only admit that they are unlucky, because the company may leave a little bit of residue, which is divided by institutions that have nothing to do with small and medium shareholders. It is. The most ridiculous thing is that 11 laws have been introduced to put things happening in July. In this case, anything you do today may be illegal, because no one knows what kind of regulations will be put in the future.