Christmas Stocks Are Breaking New Ground.

Last Thursday, the US stock market closed for Christmas, and rose slightly on Friday after resumption of trading. When the heavenly road index rose 0.13% to 18053.71 points, the S & P 500 index rose 0.33% to 2088.77 points, and the two blue chips index reached a record high.

The Dow index rose 1.40%, while the S & P 500 index rose 0.88%.

Technology share based NASDAQ rose 0.70% to 4806.86 on Friday, with a weekly gain of 0.87%.

Since last Tuesday, the main support for US stocks has been GDP data.

Last Tuesday, the US's third quarter final GDP rose sharply to an annual rate of 5%, much better than expected, suggesting that the US economy is on the way to recovery, making investors optimistic about the performance expectations of listed companies.

In addition, the international oil price, which has attracted much attention from investors, has maintained a downturn last week, but it has not continued to fall deeply. It also plays a role in maintaining investor sentiment and is good for the stock market as a whole.

The factors that may affect the market this week will be the retail sales data of major shopping malls in the US, which will be released in the future, because this will be interpreted as the United States.

And consumption capacity.

The stock market in Europe generally rose moderately last week, and three places in Britain, France and Germany.

The cumulative increase in the week was 0.99%, 1.28% and 1.38% respectively.

Last week, the trend basically followed Europe and the United States, Japan shares rose 1.12%, Korean shares rose 0.94%, Hong Kong stocks rose 1.01%.

Japan's political situation, which is more concerned, has been steadily growing, and the result of the Japanese election is not surprising and has not had much impact on the stock market.

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Recently, the securities and Futures Commission has named 18 listed companies suspected of being manipulated by the market and put them on file for investigation, which triggered a sharp fluctuation in the A share market this week.

In these stocks, there are many market manipulation in the name of market value management.

Institutional investors collude with listed companies and use listed companies to selectively disclose information to raise stock prices.

This is a typical slanting monk chanting scriptures, which has distorted the idea of a "good example" of market value management.

One of the purposes of the new "nine states" is to encourage listed companies to establish a market value management system, one of which is based on the need to protect investors' legitimate rights and interests.

If the share price of a listed company falls below the issuing price, the net price or the stock price is too low, the interests of investors will be damaged.

Therefore, it is necessary for management to encourage listed companies to establish a market value management system.

But market value management is interpreted as a manipulation of stock prices. Such a thing can only be done by a crooked monk, which is actually a smear of market value management.

It is obvious that the reason why there is a misleading mouth and a monk to control things that are not good enough to read are obviously related to the imperfection of laws and regulations in China's stock market and the ineffective punishment of various illegal and criminal acts.

For example, even if we manipulate the stock price, even if the listed companies collude with the agencies, what is the result?

Investors are the ultimate buyers.

If the SFC set up a survey of 18 stocks, 18 stocks plummeted and even led to a sharp fall in the stock market. Who would compensate the investors? Even the SFC did not consider the compensation for investors in the stock price manipulation.

Because in the cases currently accepted by the SFC, only a false statement is a compensation for investors' losses or investors can claim compensation.

The stock price manipulation simply does not exist to compensate investors for losses.

In fact, if compensation is made to investors, the loss of market value caused by the collapse of the 18 stocks can make any organization bankrupt.

In this way, are there any institutions that dare to manipulate share prices? Because of the lack of punishment by the SFC, this has led to the manipulation of stock prices in China's stock market and even the market value management has become synonymous with manipulation of stock prices.

It is also based on the current situation of China's stock market, so the current A share market is only suitable for the implementation of a simple market value management.

First of all, the main body of market value management can only be listed companies, or controlling shareholders of listed companies, or executives and employees of listed companies.

As a third party institutional investor (not including the management of ESOP), it should not participate in the market value management.

Because as long as there is institutional participation, facing the temptation of insider trading and huge profits brought by stock price manipulation, it is a very difficult task for participating agencies to do something illegal.

This is like letting the cat look at the tube fish, so that the cat does not eat the fish. Is it still a cat? Even more, the current laws and regulations can hardly prevent the cat from coming to eat the fish.

Second, measures to manage market capitalization are limited to repurchase and increase holdings.

The time point of market value management is chosen when the share price breaks down, and the stock market is depressed and the stock value is undervalued.

For example, when the share price of new shares and new shares breaks down, the listed companies are required to buy back the stock or increase the shares by the major shareholders.

For example, when the share price of a listed company falls below its net assets, the share repurchase will be carried out by the listed company, or the stock will be increased by the large shareholder, and the stock will be increased by the employee stock ownership plan.

This mode of operation can also be applied to the state of underestimation of stock value.

The market value management of listed companies can achieve these simple requirements, that is, the protection of investors' interests.

As for the normal fluctuation of share price, it is not in the market management category.

As a listed company, it should still focus on its main business.

The main business is done well, giving investors a generous return on investment, which is the highest level of market value management.