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Two Fusion: The Balance Year Increased By 2.79 Times, The Growth Enterprise Board Innovates Frequently.

2013/10/9 0:22:00 27

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"marginalized" a href= "http://news.sjfzxm.com/news/list.aspx Classid=101112107105" > two melting business < /a > from behind the curtain to the front desk, and the average daily turnover of the two fusion has soared to more than 20 billion

strong Heng Qiang.

Last week, the gem index continued to record a new high.

In September 25th, the highest record of GEM has been rewritten to 1344.39 points.

small and medium-sized plate index also rose in September 24th, hitting a new high of nearly 5294.85 points in recent years.

Shanghai's free trade zone leading shares of Waigaoqiao gained more than 15 trading boards in 17 trading days, up 375.26%.

a href= "http://news.sjfzxm.com/news/list.aspx? Classid=101112107107" > Shanghai composite index < /a > has also rebounded to a high level of 3 months, maintaining the trend of concussion.

In addition to the support given by macroeconomic data, there is also an alarming data that has not been valued by investors.

The two financial data of September 25th show that on the same day, the purchase amount of A shares in the two cities reached 23 billion 144 million, and the margin selling amount was 2 billion 375 million, accounting for 25 billion 519 million, accounting for 9.32% of 273 billion 900 million of the total turnover of two cities.

On the same day, the financing balance of the two cities has reached 265 billion 817 million, the margin balance is 3 billion 416 million, and the two balance is 269 billion 233 million (excluding ETF two financial business).

In September 25, 2012, the two financial balance was only 70 billion 955 million, and it jumped 279% in one year.

in fact, since the end of August, the turnover of the two cities has reached a 20 billion mark.

In September 10th, this data exceeded the 30 billion mark, reaching 31 billion 460 million.

the surge of margin trading and the increasingly active trading make the previously marginalized two fusion business become an important force affecting the A share market, and from behind the scenes to the front desk.

three factors caused the two melt balance to soared 279% in one year, and financing buying was the leading factor .

the trading week before the National Day holiday, the market index is a little dull, and it competes around the recent high of 2200 points.

However, the gem that has gone out of the bull market continues to record a new high.

In September 25th, the latest record of GEM has reached 1344.39 points, and dozens of GEM stocks have reached a record high.

especially gratifying is that as a new industry concentration camp, the small and medium-sized boards also hit a new high of 5294.85 in the past two years in September 24th, only 41.52% from the new high 7493.29.

Just before this analysis, the SME board has the most potential to become the second important index to create a new high and out of the bull market after the gem.

in addition, the theme investment of Shanghai free trade zone is in the ascendant.

The leading shares of Waigaoqiao were concentrated in two cities' hot money, and 15 trading days in 17 trading days, up 375.26%.

A shares can be seen in the theme of investment stimulus under the policy of madness.

"P > 2 months of steady macroeconomic data rebound, undoubtedly for the long speculation has injected a shot in the arm.

The release of dividends from Shanghai's free trade zone, financial reform and land reform provides policy basis for the speculation of hot money.

Besides P, another force in the A share market has grown stronger.

This article is about the margin trading business launched in March 31, 2010.

Data show that on the day of margin trading, the margin of A shares in the two cities was 6 million 590 thousand yuan.

March 31, 2011, margin balance reached 20 billion 760 million yuan; in March 31, 2012, this figure increased to 46 billion 303 million, an increase of 123% over the same period last year; in March 31, 2013, the two balance rose to 155 billion 640 million, a sharp increase of 236.13% over the same period last year.

as of September 25th, the latest two financial balance of A shares in the two cities has reached 265 billion 817 million yuan, up 279% from 70 billion 955 million yuan in September 25th last year, continuing to show a trend of geometric growth.

with the surge of margin financing, the buying and selling amount of A shares in two cities also soared rapidly.

Following the financing of the two financial pactions to break through 10 billion yuan mark in January this year, since the end of August, the two financial paction volume has further stood at 20 billion yuan mark, and set a 31 billion 460 million mark on September 10, breaking the 30 billion yuan mark at one stroke.

on the same day, the total turnover of A shares in the two cities was also enlarged to 328 billion 900 million yuan, and the two financial paction volume contributed 9.56% of the day's turnover, which was close to 1/10.

according to the statistics of the reporters, since the end of August, the share of the two shares of A shares in the two cities has accounted for nearly 10% of the total turnover of A shares.

"This ratio has a great impact on the trend of A shares."

A private director of a large public investment director admitted that he did not pay attention to the qualitative change of the two businesses in recent years.

in every about 20000000000 of the two financial pactions every day, financing buying (doing more) business occupies the absolute leading role.

Take September 25th as an example, on the same day, the two cities' A share financing amounted to 23 billion 144 million, the margin selling amount was 2 billion 375 million, the total amount was 25 billion 519 million, and the proportion of financing buying (to do more) reached 90.69%; on the same day, the two city's financing balance reached 265 billion 817 million, the margin margin 3 billion 416 million, and the financing balance accounted for 98.73% of the two total financial balance.

two cities daily margin margin and margin selling amount is not large, indicating that margin selling (short) is basically based on ultra short line trading, while the continuous growth of the financing balance, it shows that the majority of the buyers (mostly) are the middle and long lines.

careful investors can find that the two financial businesses have been growing at a relatively high rate since they were formally launched in March 31, 2010, but the real sense of growth began to show explosive growth after September 2012.

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two the crazy growth in the last year has come from three factors.

First in August 30, 2012, China Securities and finance company officially launched the 30 year pfer financing business.

According to the Guotai Junan Institute, after the launch of the "a href=" http://news.sjfzxm.com/news/ "/a", there will be a maximum of 120 billion yuan increments in theory.

followed by a decline in the threshold of margin trading.

In January 2013, the threshold of "500 thousand of assets and 18 months of stock account opening" fell quietly.

The reporter sent a number of Guangzhou securities brokerage business department, most of the business department margin trading threshold has been reduced to "assets 200 thousand, stock open accounts for 6 months", there are individual business department of assets requirements lower, only need 100 thousand yuan to open accounts.

this shows that the drop in threshold of opening accounts is also within reach for small and medium-sized retail investors.

the third major factors that cause the explosive growth of margin trading are the expansion of margin trading stocks and pilot securities companies.

Since September 16th, the Shanghai and Shenzhen Stock Exchange has issued a notice to expand the scope of margin trading stocks, from the existing 494 margin trading stocks to 700, an increase of 206.

This is the second expansion after the expansion in January 31st this year.

The biggest feature of the "two fusion" target is a substantial increase in the number of small and medium-sized boards and gem.

Among them, the growth enterprise board has increased from 6 to 28.

In addition, the number of brokerages who can carry out the two financial businesses has increased from the initial 6 to the current 79.

margin trading has completed a process from quantitative change to qualitative change, and the impact on A share market pactions has also come from behind the scenes to the front desk.

two melt into market vane

the surge in margin trading is undoubtedly the most direct beneficiary of the securities business that has opened two financial businesses.

China Merchants Securities Research Report points out that if the scale of the two financial stocks can reach 250 billion yuan at the end of 2013, the annual margin margin and commission income will contribute about 16 billion 600 million yuan, which will raise the annual income of the brokerages by nearly 12%. Obviously, it has already exceeded the figure. CITIC Securities is more optimistic that the two financial balance is expected to reach 500 billion yuan in three to five years. According to the 7% interest income and the corresponding half a href= "http://news.sjfzxm.com/news/list.aspx Classid=101112107108" > credit account < /a > paction commissions, it means that margin trading will bring 52 billion 500 million yuan income to the broker, which is equivalent to the brokerage business in the past few years.

in addition, at present, the daily turnover of the two melts has accounted for nearly 1/10 of the total turnover of A shares in two cities, and there is a rising trend. Therefore, the trend of the two financial pactions has gradually become an important index of watching more or less.

Between P and September 23rd, to 25 days in September, the top three of the two cities were financial services, information services and real estate. The purchase amount reached 12 billion 189 million, 11 billion 861 million and 5 billion 402 million respectively.

this shows that investors are highly concerned about these three plates.

The high market value and good circulation of the financial services sector are normal, while the financing of the information services sector for three days and 11 billion 861 million yuan has accounted for 11.6% of the total three of the total turnover of the sector, which has become an important promoter of the continuous surge of the sector.

> "investment real estate" throws the refinancing scheme after resumption of 17 days, and the market has rejected the sharp limit. Many investors see the opportunity of the real estate sector being overadjusted, and substantially increase the target of investment real estate and new lake treasure, expecting the stock price to rebound later.

For the real estate sector financing buying surge, Anxin securities Chai Chung said.