What Is The Impact Of The Strengthening Of Financing Regulation On The Market?

After a continuous rise in the air, the stock market started to rise this week and adjusted continuously on Thursday and Friday.

In the wake of the news, the Shanghai and Shenzhen Stock Exchange announced that the proportion of margin raised from 50% to 100% since November 23rd.

This means that the same amount of capital will reduce the number of stocks bought.

This means that the rapid growth of the financing balance will be curbed, which is undoubtedly a bad signal for the market funds.

As news came out, the new Garbo rich A50 index futures, which were trading, plunged more than 2.5% immediately, indicating that investors are more pessimistic about the market trend next week.

Many netizens shouted "bad profits" in the stock market. Next week, the market is doomed to fail.

Is this really true? Members of the fortune expert group believe that the recent sharp adjustment of the market, especially on Friday, does not exclude some of the beforehand funds leaving early. This is also an early digestion of bad news. The market will be adjusted next week, but there will not be a particularly huge adjustment. After all, the trend of the market has not changed.

If the market is down, it will be a good opportunity for low absorption.

The proportion of financing margin has been raised, and the amount of funds that can be melted will be less. This is undoubtedly a bad news. The short-term market will surely have a bigger impact. But will the market change the upward trend under the bad news? The answer is no doubt, but it will have a negative impact in the short run, but the medium and long term will be a great benefit to the market.

It is a good thing for management to get rid of these bad things before the market has gone up. If we wait until more than 5000 o'clock, I am afraid that we will repeat the mistakes of the last stock market crash.

Moreover, financing is actually a double-edged sword. From the performance of the past few months, it often plays a role of catching up and killing. Therefore, to curb the rapid growth of the financing scale in advance is also beneficial to the regulation of the slow bull market.

From the technical perspective, the market also needs a step back after breaking through the annual line. This week, the market has been running for many days on the annual line. It is also reasonable to adjust back to the annual line on Friday. In the future, if it can stand on the line again, it will be conducive to further development of the market.

IPO will be officially restarted next week, and the IPO will still have an impact on the market funds. Therefore, the early adjustment of the market will be understandable. Once the IPO is officially issued, the market will probably rise again, and the short-term cleaning of profit taking is conducive to the further upward movement of the market.

A large number of new shares closed down on Friday, suggesting that there are signs of hype.

But in the medium term, big bull stocks will usually appear in the new shares. Investors should follow the evolution of this group in particular, especially this year's new batch of new shares.

The nature of the new IPO market is a typical hype. It is sure that there will be further speculation after the adjustment. Investors may seriously choose the layout of the premium stocks.

In the short term, investors should avoid stocks that have more financing balances. This part of the stock may be more vulnerable, and those who are not financing targets can continue to bargain.

China Merchants Securities announced yesterday that it raised financing.

The proportion will have 5 major impacts.

Hong Jinping, a non banking analyst at China Merchants Securities, said that after raising the margin ratio to 100%, it would be necessary to consider holding stocks to discount the margin, and the actual leverage limit is 1.7 times.

China Merchants Securities said that this adjustment would have a huge impact on the "two financial" customers, and cut down the leverage one by one, assuming that the target of financing increased by 20%. Under the leverage level (at the conversion rate of blue chip 70%), nearly 50% of the profits could be obtained, if the margin yield of 100% was changed to 34%.

China Merchants Securities Analysis, from the off-site allocation of funds to reduce levers, regulators are trying to reduce the leverage ratio to stabilize the market volatility, and realize the slow cow.

For brokers, the demand growth of the "two fusion" business may slow down at the marginal level, because the cost is rising, and the average leverage ratio of the two financial businesses in the next two years is expected to decline from 1.7 times to less than 1.5 times.

But at the same time, China Merchants Securities also said that the views on the securities industry remain unchanged.

After rapid pull up, valuations are still in a reasonable range, and the risk of downwards adjustment is not large. Under optimistic expectations, there is still room for up to 20%.

As the proportion of raising financing is only aimed at new financing contracts, stock financing and margin trading contracts can be extended according to relevant regulations and contractual stipulations, so the impact on the market is not large, and is more psychological.

On the other hand, this shows that the intention of regulators to protect the market is very obvious, and guides the healthy and orderly development of the market.

In the case of investor margin determination, the size of future financing will be reduced.

In the A share market with small and medium-sized investors as the main body, the brokerage sector will undoubtedly be affected.

In addition, the securities brokerage sector rose earlier, and the short-term callback probability increased significantly.

The adjustment will squeeze speculative bubbles, encourage financing by increasing market value, and prohibit the purchase of goods without genuine gold and silver. This will also affect the scale of innovation business development of securities companies to a certain extent, which may reduce the income of brokerages, and will form a certain pressure on securities companies.

In addition, those "two fusion" target stocks inside.

Larger companies may also be affected, and investors should avoid them.

From the experience of the mature market, the proportion of the "two balances" in the circulation market value should not normally exceed 3%, and the proportion of the "two fusion" trading volume in the total market volume should not exceed 20%.

At present, these two ratios in the A share market are close to 2.7% and 14%, respectively.

It is logical for regulators to choose supervision at this time.

To cool the market now is not to suppress the market, but to curb the "mad cow" and "mad cow" in the stock market again, and maintain a "slow bull market" before the launch of the stock registration system next year.

Raising the margin ratio of financing will not have a particularly big impact on the two tier market. The key is to see how investors are confident in the market.

As long as there is no change in the upward trend of the market, investors can continue to do more with patient shareholding.