Chapter 915 [Explosive Kill]
Fang Hong saw that the management had consciously prevented and resolved potential risks in the stock market, but he also knew that the most difficult thing to break in the world is often the rules. Intentional suppression will only make the rise even stronger. In many cases, the original intention is good, but the actual situation After a complicated multi-party game, it evolved in the opposite direction.
Just three hours after today's closing, Qunxing Capital issued a shareholding reduction announcement, which caused quite a shock in the capital market.
According to the announcement, Qunxing Capital will reduce its holdings in its listed subsidiaries, including ATL Technology, Ruihe Pharmaceuticals, Weibo and many other companies, in the secondary market from the date of the announcement to the next 15 trading days. The share capital shall not exceed 0.8%.
The targets on the list are all subsidiaries of Qunxingxing that were listed in the early stage and have now passed the sales restriction period.
Qunxing Capital's response to the announcement of this reduction is that the parent company's internal strategic adjustments and optimization of the equity structure are normal, and the fundamentals of the company being reduced have not changed.
In short, this is a normal internal adjustment, not a distraction. Please do not read too much into it.
However, the disclosure of this shareholding reduction announcement still gave a big impact to the capital market, because this is the first time that Qunxing Capital has reduced its holdings of its own listed subsidiaries. Although the announcement said that it is its own strategic adjustment and the optimization of its ownership structure, for these Stock holders of listed companies are still left wondering whether something is wrong.
Logically speaking, Qunxing Capital is not short of money, so why should it reduce its holdings and cash out from the secondary market?
Of course, the matter of relocating the 2 trillion yuan of funds for the wealth fund cannot be mentioned publicly. If it is really revealed, the tickets for those galaxies will have to skyrocket, and it is impossible to get on the bus, let alone reverse the vehicle to pick up people.
Secondly, the management already has the idea of controlling the overheating of the stock market, so Fang Hong will naturally not jump out to sing the opposite at this time.
Although Qunxing Capital's shareholding reduction announcement caused a lot of discussion and speculation in the capital market, it did not cause panic among investors in the market, because the 0.8% shareholding reduction ratio is really not that much. It’s less than 1 percentage point, and it will take 15 trading days before the holding is reduced. Even if it’s running away, retail investors can decide whether to jump ahead or not 15 days in advance.
Originally there was no panic, but at this juncture, another incident occurred that made the market panic.
On Saturday morning, news broke that Zhongxin had significantly reduced its shareholding in the company to 3.16%, and investors could no longer calm down.
Qunxing Capital has just announced the reduction of its holdings, and Zhongxin has also reduced its holdings, and it has reduced its holdings so much.
What a coincidence, right?
Something is happening, absolutely something is happening!
Something big must have happened.
Soon more serious news came out, causing huge panic in the capital market.
The management acted as a warning to the monkeys and "killed" 12 securities firms including Zhongxin Haitong that violated financial regulations. At a press conference, a Cuntou spokesman said: A two-week inspection of the financing business of 45 securities companies was carried out. The on-site inspection showed that the securities companies' margin trading and securities lending businesses were generally operating smoothly, but rectification requirements were put forward for problems existing in the margin trading and securities lending businesses of 12 securities firms, and it was emphasized that margin trading and securities lending were not allowed to be provided to customers with securities assets of less than 500,000 yuan.
In addition, bank regulatory agencies have also taken action to solicit opinions on entrusted loans from commercial banks, with the intention of prohibiting funds from flowing into the stock market through off-balance sheet businesses such as entrusted loans.
The emergence of these news has made people who hold stocks on the market uneasy over the weekend. Whether it is the management's rectification of 12 brokerage institutions or the actions of the banks, it is regarded as the regulators' desire to reduce the inflow of the stock market. A signal of capital, this is undoubtedly a major negative.
Since the financing business is one of the core driving forces of this bull market, the restriction of the two financing businesses will put pressure on market capital and will also be negative for securities stocks.
In addition, the announcement of the reduction of holdings issued by Qunxing Capital at this time was also interpreted as negative by the market, which made everyone feel more and more unusual.
More importantly, Zhongxin's precise reduction of holdings was interpreted by the market as an important signal of bearish market outlook. In addition, the short-term growth of this bull market was large, there were many early profits, and many investors had high leverage ratios. They were originally negative on the market. They are very sensitive to the slightest change. At this time, such a strong wind suddenly blew, and the entire market was bearish. Big A was already panicking before the market opened.
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As the weekend is over, the time comes to Monday, January 19th.
As soon as the call auction ended at 9:25 in the morning, the A-share markets were wailing. During the bidding stage, the Shanghai Stock Exchange Index jumped down to an opening price of 3189.73 points and opened by -5.53%. This opening price was really tragic.
This gap directly penetrates the 3300 and 3200 integer marks.
The most tragic thing is the large financial sector. Today, the three financial fools are in a collective "sudden death" posture. The brokerage sector has dropped by the limit during the bidding stage. This is not a certain brokerage stock that has dropped by the limit, but the entire industry sector. The insurance sector opened at -9.39%, which is not much different from the lower limit; the banking sector was also miserable, with the bank index opening at -7.60%.
Other sectors were not much better. Galaxy concept stocks also collectively opened sharply lower. Companies named for reduction of holdings, such as Weibo, Ruihe Pharmaceuticals, ATL Technology, etc., also fell to the limit in panic.
Under the huge panic, the two cities of Big A have already shown a stampede situation during the collective bidding stage.
At the opening of the market at 9:30, the Shanghai Stock Index opened lower and rushed higher. There were funds to save themselves. The brokerage sector that had dropped to the limit had funds seepage, the insurance sector also quickly surged higher, and banks were also rebounding.
While the main board index was wailing everywhere, the GEM index turned out to be extremely powerful today. Not only did it take the lead in turning red and rising, but it also pushed the increase to 3 percentage points, reaching 1691.14 points, and even hit a record high today.
This wave has killed large-cap blue-chip heavyweight stocks led by Big Financial, but the GEM index has escaped the disaster. It was also the main board that surged some time ago, and many people ran to the GEM to seek safety.
At the same time, as the Shanghai Stock Index surged, the decline narrowed to within -3.50%, reaching a maximum of 3262 points. Unfortunately, the good times did not last long. It only rebounded for half an hour, and then began to slide after 10 o'clock, and continued to slide all the way to the abyss. There was no decent rebound.
As the main board index exploded all the way, the panic was overwhelming and the stampede flight became more and more intense. The GEM index, which had just reached a record high, could not hold it anymore and began to fall sharply and turned green again.
By mid-afternoon, the three financial fools simply lay down completely.
The banking sector has all dropped by the limit!
The insurance sector has all dropped by the limit!
The brokerage sector has all dropped by the limit!
Not only did the three financial sectors fall to the limit across the board, but the entire market was trampled, and the concept stocks of the Galaxy Group next door were not immune either, because Fang Hong did not come out to support the market at this time and let the market interpret it on its own.
As a result, the 18 listed Galaxy concept stocks all fell by more than 9%. Several companies such as ATL Technology, Weibo, Ruihe Pharmaceutical and other companies were hit by the daily limit. In addition, quantitative capital also fell by the limit.
These stocks in Qunxingxing are all large-cap stocks worth hundreds of billions. It is no exaggeration to say that the limit of one stock is as high as the limit of dozens of other small and medium-cap stocks.
Hundreds of stocks in the two cities fell to the limit. In the last half hour of late afternoon trading, the market was still falling further. The Shanghai Stock Exchange Index was all the way through. The maximum decline was -8.33%, the highest level in six and a half years. The biggest one-day drop since.
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