Shanghai And Hong Kong Will Not Erase The AH Share Price Difference Will Be Reflected Later.

In fact, investors who have qualifying for Hong Kong and Hong Kong or those who do not qualify for Hong Kong and Hong Kong are all looking forward to A+H shares. Such expectations are also normal. After all, in Shanghai and Hong Kong through the pilot stage, regardless of Shanghai Stock Exchange or Hong Kong stock exchange, A+H shares listed in Shanghai and Hong Kong are common investment targets, and these A+ H-share stocks are familiar to both investors, making it easier for both investors to make joint investment choices. What's more, there is a certain price difference between the stock prices of AH shares, which is easy for investors to indulge in fantasy. If A+H shares can be aligned with each other, their investment opportunities will also emerge.

In fact, it has become the "investment guide" for investors in the A share market. It is precisely under the "encirclement and suppression campaign" of investors that the AH share premium index, which fell to 88.72 points in late July, has successfully reached the 100 mark in November 10th, which means that the discount of A shares to H-shares is no longer in existence. And the discount blue chip stocks have also narrowed the price gap between AH shares, and some have even reversed. Currently, the most expensive conch cement has a discount rate of around 10% (up to November 13th), and the AH share price has been greatly reduced.

But it is impossible to completely erase the spread between AH shares. In fact, there is a reasonable side to the difference between AH shares. For the same company, the investment value of each share should be the same. However, A and H-share markets are two different markets after all. Because of the different maturity of the two markets, the structure of investors is different, and investors' investment styles are different. The share price of the same company's stock in the two markets is quite normal.

For example, the Hongkong stock market is a relatively mature market. Investors take institutional investors as the main body, so their investment is more rational. As a result, some blue chips with performance support are more likely to be sought after by investors, while those with poor performance are easy to be left behind by investors in the A+ H-share investment. The A share market is mainly speculative speculation because of the immature investors. In this way, some small cap stocks, even with little performance support, will be substantially raised by the market under the support of various themes. On the contrary, big blue chips will be left behind by investors. As a result, the blue chip H-share price is higher than that of A shares, and the A share price of small and medium sized shares is much higher than that of H-shares. This is the true response of the two market investment concepts.

Not only that, between AH shares Spread The existence of supply and demand is also a reflection of supply and demand. The share price of A share blue chips is lower than that of H-shares, which is also related to the size of the two party's circulation size to a certain extent. For example, conch cement, which has the largest discount rate, has about 4 billion shares of A shares, while H shares only have 1 billion 300 million shares, and the supply and demand relationship between the two is obviously different. Another example is ICBC, A shares 264 billion 700 million shares, H shares only 86 billion 800 million shares, H-share flows are much less than A shares. Because of this, according to the law of supply and demand, A share price is lower than H-share price. Moreover, the A share price is lower than the H-share, which is also conducive to A share self-protection. After all, some blue chip companies represented by bank shares are more willing to raise funds in the A share market, while the A share market is also faced with the problem of non cash in size. Against this background, push up the market. Blue-chip share Share price is not only a market incapacity, but also the result of pushing up the stock price will only make investors pay more.

So AH shares The price difference between them is reasonable. Although the market is now pushing up the A share price below H-share, this is only a staged speculation. After a round of speculation, the price difference will still be reflected. What's more, the stock price spread of A shares is higher than that of H-shares, and it is not seen that the main force of the market is joining up with H-shares through the suppression of A share prices.

Therefore, this reminds investors to pay attention to the two investment risks. First, in order to meet the arrival of the Shanghai and Hong Kong Exchanges, the A share market has substantially fried the risk of A shares of the A+ H-share company, which is lower than the H-share price. Such stocks originally used the advantage of discount to attract Hongkong investors. Now this discount advantage is no longer, and its attraction to Hongkong investors will no longer exist. Two, after the opening of Shanghai and Hong Kong, mainland investors bought large amounts of H-share shares in AH share companies. Because the investment concept of Hongkong market is totally different from the A share market, it is not supported by Hongkong investors to raise the share price of these H-shares to the height of A shares. On the contrary, it is just a chance for Hongkong investors who hold such shares to make a profit.