Since The Fourth Quarter, The A Shares Have Suddenly Plummeted.

Black Friday reappearance! You did not see the wrong, Shanghai and Shenzhen two cities in the afternoon like a broken line of kites, the Shanghai finger lost 3600, 3500 two integer pass, closing a close drop of nearly 200 points, a decline of 5.48%, the biggest one-day drop in the last three months.

There are more than 300 stocks in the two cities, and the brokerage sector has led to a sharp decline in the popularity of the market. 20 of the 24 securities companies in the two cities are down.

The theme stocks are also in the mud and sand, and many conceptual plates such as charging piles, UAVs and satellite navigation are almost down.

Next Monday, the new 10 new shares will continue to be used in the form of a pre payment freeze. According to the brokerage estimates, the first batch of 10 IPO frozen funds will be around trillion.

The capital side has been greatly affected.

The remaining 18 will be reissued in two batches. It is estimated that the second and third batches will be frozen about 2 trillion and 270 billion yuan.

Data show that since November, the A share fund has started a large net outflow. In November 6th, when the SFC announced the IPO restart, the trend intensified. In the 5 trading days this week, only a small net inflow of 5 billion yuan in November 25th, a large net outflow of 45 billion 300 million yuan on the 26 day, and a much larger net outflow of more than 1000 billion yuan (103 billion 100 million yuan) today, the most recent three months.

The securities and Futures Commission recently issued a notice to the broker asking the broker not to finance the customers through the OTC derivative business to carry out the listing of the Shanghai and Shenzhen Stock Exchange and the new three board listed stocks.

It is reported that the Commission issued a total of five injunctions, mainly for equity financing rights and interests swap business, from yesterday, it can only be sold, can not buy, involving a scale of about 100 billion yuan.

The five prohibitions include: no new business should be carried out; the business that has not been completely closed is not allowed to be extended; if the credit limit of the contracted customer has not yet been fully used, the remaining credit line must not be used to buy the stock; the credit quota that is restored after the sale of the stock should not be used to buy the shares; and no purchase can be made by replacing the standard form.

The industry said that the leverage of equity swap business can reach up to 5 times, usually between 2~3 times, much higher than the 1 times leverage ratio of field financing.

At the present time, regulators are advocating "slow cow", emphasizing the counter cyclical regulation of leverage, which is prohibited sooner or later.

Haitong Securities temporarily suspended on Friday, and the exchange and companies have not yet disclosed the reasons for the suspension.

According to sources, the suspension was mainly due to the fact that the company was not under investigation by the SFC.

The news was announced on Friday night by Haitong Securities announcement.

This is also followed by CITIC Securities and Guoxin Securities, and another large securities company was placed under investigation.

Previously, Yan Feng, the chairman, executive director and chief executive officer of Guotai Junan's international board of directors of Guotai Junan, another voucher giant Guotai Junan, lost contact with the general public.

Guotai Junan international issued a notice announcing the second day of the loss of Yan Feng. The Shanghai municipal Party committee announced that the municipal inspection team was stationed in 14 state-owned enterprises including Guotai Junan and Haitong Securities.

Under the impact of a series of negative news, the stock market has always been defeated as a market vane. Today, 20 of the 24 brokerage stocks listed on the A share market are down, which has greatly damaged the popularity of the market.

In the 1-10 month, the total profit of Industrial Enterprises above Designated Size dropped by 2% compared with the same period last year, a drop of 0.3 percentage points higher than that in 1-9 months.

Among them, profits fell by 4.6% in October, a drop of 4.5 percentage points more than in September.

People's livelihood macro pointed out that profits continued to decline year-on-year, the reason is still low income and high cost.

High inventory is the specter behind profits, and inventory is a long way to go.

The view is that 30 will consider RMB accession in November.

Uncertainty has led to an increase in market risk aversion, and more strength has been weakened in the market.

At present, the Shanghai and Shenzhen stock index has been consolidating near the annual line since November. The huge profit and the pressure of unlocking the market have made the market unable to break through effectively.

According to statistics from relevant institutions, stock base positions have returned to 90%. As the main market, the fund's opening space is limited, which, to a certain extent, has affected the market to make more efforts.

In the wake of the IPO restart, the policy of deleveraging was introduced, reflecting the adequacy of regulators' confidence in the stability of the stock index, and even the full response to the impact of deleveraging.

Therefore, it is not necessarily a bad sense in absolute terms. It is not a signal of policy pressure, but a part of guiding the slow bull market.

At present, the market liquidity is still good. At the end of the year, the policy of steady growth has been introduced steadily.

On the whole, leverage and stability will affect each other and the stock index will remain volatile in the short term.

Li Xiao Xiao said that at present, the blue chips still have investment value, and the valuation is also in a reasonable interval. Compared with the previous slump, there is no excessive leverage at present, and there is no substantial bad news on the news, so generally speaking, there is no basis for continuous adjustment at present, and there will be no continuous plunge before, and do not panic.

Li emphasized the firm stance of the baby bottom, cautioned investors that there was no need to panic, so long as there was good stock in hand, there was no need to be intimidated by a baffling crash.

From the market perspective, it basically runs along the channel line, especially from the middle track of the BOLL line, which is more obvious.

But on Friday, the index fell below the BOLL track's 3575 point and the lowest point reached 3412 points.

It shows that the market trend has changed, and the short term will be based on bottom finding.

The market outlook is concerned about whether the stock index can rebound again in a short period of time after a continuous decline. If it can not, the market trend will continue downward, and the short-term trend is not optimistic. BOLL