China'S Stock Market Looks At Its Own Complexion

Lately

This view of people's faces and Americans' faces is obviously inconsistent with the facts.

After all, the impact of the US stock market and other peripheral markets is only an external cause, and the internal factors of China's stock market are the most important factors to decide the trend of A shares.

The obvious fact is that after the market had heated debate, the A share and the US stock will not accompany the rise.

This shows that the trend of A shares is individual, rather than simply looking at the faces of Americans.

The reason why some people think that China's stock market is looking at Americans' faces and other people's faces is obviously confused by the recent global stock market decline, or is deliberately avoiding the A stock market's own problems, which is actually not conducive to solving the A share market problem.

Although A shares have fallen in the same period as the European and American stock markets in recent years, the reasons for the decline of A shares and European and American stock markets are different.

The decline in European and American stock markets is based on the slow economic recovery process in Europe and the United States, based on the impact of the European debt crisis and the US debt crisis.

But A shares fell more on the basis of domestic factors.

For example, on the macro level is

In fact, the Chinese stock market has always been looking at the faces of their own people. Not only has the A share "not to go up" has proved this point, but also the recent "stock market decline" of the stock market, A shares are also looking at their faces, looking at the face of the SFC, looking at IPO and re.

The macro face of China's economy determines the low profile of the A share market.

In the face of this low-key structure, IPO and refinancing determine the final fate of A share market.

As we all know, China's stock market is a money market, and financing services become the highest mission of China's stock market.

In order to maximize the purpose of financing, the stock market launched a pseudo market IPO system in 2009. Under the immature market conditions, the stock market unilaterally launched the market-oriented pricing issue, and eventually issued the new issue of "three high" issuance, which became a naked money maker for issuers.

And this pseudo marketization is also reflected in the current IPO process.

Just like in the face of the stock market downturn, a number of domestic companies to be listed in Hongkong, such as Xugong machinery, Sany and Everbright Bank, have postponed the listing process of H-shares in the Hongkong market.

But in the A share market, it has launched the issue of super large cap stocks.

If the 27 day issue of China's hydropower is the highest financing of 14 billion 400 million yuan, as well as the Shaanxi coal joint stock plan financing 17 billion 251 million yuan; the scale of financing to reach 20 billion yuan in the Sino foreign joint stock will also be held on the 28 day.

In addition, the refinancing of listed companies is like snowflakes.

It is the pressure of IPO and refinancing that A shares can not afford to start.

In particular, the issuance of these giants, such as China's hydropower, shaanshan coal and China stock exchange, has not only taken away tens of billions of dollars from the stock market, but also a huge blow to investor confidence.

It can be seen that the reason for the decline of A shares is totally different from that of the peripheral stock market.

The decline of China's stock market is not the result of looking at other people's faces, but of their own people.

If we fail to see this point, the problems faced by the A share market will never be solved.