In Half A Month, How Long Can The "Stock" Fly In The Stock Market Record?

In the past two weeks, the Shanghai Composite Index's 10 trading days rose 450 points, or 18%, and Shenzhen Composite Index rose 24%.

Although there is no strict definition of the bull market, such an increase has already constituted a bull market in this period.

When the time came back to five months ago, the stock market was still in the same situation as the previous two years. Although the freezing point of investors' willingness to enter the market has passed, the old stock investors still "hurt", but the new investors did not start.

Under the calm, the undercurrents accumulate.

From the anti-corruption "big tiger" to the comprehensive deepening of the reform of the strong push to enhance people's confidence.

Confidence condenses and streams flow into rivers.

At the same time, at the financial level, once the snowball expansion of bank financing, trust and other shadow banking has been cleaned up, the risk-free rate of return has gradually been low, and a large amount of profit seeking funds must find a way out again.

Against this background, China's stock market began to pick up in the middle of 7, and came out of the "Mavericks" market after the beginning of September.

As the index continued to rise, the central bank announced asymmetric interest rate cuts. The policy launched over the past two years has fired the enthusiasm of the stock market.

People believe that the central bank will enter the interest rate cut quasi channel, and more measures to release liquidity in the future are worth looking forward to.

More money, which is crucial for China's stock market driven by capital.

At this time, the old and new investors who were awakened by the early rising and big discussions of the bull market began to swarm into the market.

In particular, the new investors who had not experienced the last round of bull and bear baptism and had no pain in their hearts were chasing up and enjoying a rare "blue chip dream".

In addition to the gains, another feature of the bull market is the volume of pactions.

In the past two weeks, the volume of pactions in Shanghai and Shenzhen two cities has reached a record high, from 600 billion yuan, 700 billion yuan to 900 billion yuan to 1 trillion yuan, and completed several leaps in a few days.

This record breaking speed is shocking. It seems that it can only be described as "Crazy".

According to the preliminary data of the SFC, from November 24th to December 4th, all professional institutional investors bought a net total of 30 billion 900 million yuan, while the general corporate body sold 125 billion 200 million yuan, and natural person investors bought a net purchase of 65 billion 900 million yuan, especially those holding A shares with a market value of less than 100 thousand yuan.

In view of this, small investors, especially small and medium-sized investors in the new market, have made considerable contributions in the growing volume of pactions.

China

There is no shortage of funds.

If market confidence continues and expectations remain unchanged, more capital is expected to be pferred to the stock market from savings and bank financing, which will further boost the stock index.

However, without fundamental support, the higher the share price is, the more risk is accumulated, and the collapse may trigger at any time.

A noteworthy factor is that this stock market is leveraged by leverage, and many investors choose to raise funds by buying securities from brokerages.

According to the CSRC data, from November 24th to December, the average daily amount of financing was 3 yuan, which was about 111 billion 200 million yuan, which was about 17% of the average daily stock turnover.

As of December 3rd, the balance of investors' financing was about 850 billion yuan, more than double the financing balance of 403 billion 400 million yuan at the end of June this year.

Some analysts expect that by the end of this year, the scale of margin trading will exceed trillion yuan, which is expected to reach 1 trillion and 200 billion yuan to 1 trillion and 500 billion yuan next year.

However, the market risk built on leverage is obvious.

Once the wind direction changes, financing funds will flock out or trigger a cliff fall. Investors who use financing leverage may face great losses.