The "Black Swan Incident" Continues To Be Strong In China's Stock Market.

This year, A shares continue to expand.

On the one hand, IPO accelerated its issuance, especially in the second half of this year, with more than 20 new shares issued every month.

On the other hand, there is a sharp surge in the size of the stock market, especially in some listed companies.

In addition, the refinancing of listed companies has always been a big opening. There are hundreds of millions of listed companies, and billions of refinancing are almost without interruption.

This is particularly noteworthy is that IPO speed up the issue, which is in the vicinity of the index at 3000 points, in fact, when the management rescue last year, when the management halted IPO index position is 4000 points.

In the lower index position, it accelerated the speed of IPO issuance, but the stock market did not fall.

This can not be said that it is a kind of strong.

The black swan incident occurred in the US presidential election. Trump, a Republican candidate who was not optimistic about the election before the election, defeated Democratic candidate Hilary and was elected the new president of the United States.

The result was gradually announced during the day of Beijing time in November 9th, when the US was at night, and the US stock market was at rest.

On the contrary, the Asia Pacific stock market, represented by China's stock market, has been attacked by the black swan event in the US election.

So it plummeted.

Such as Japan's stock market fell 5.4% on that day, Hongkong's stock market fell more than 4%, the whole world fell 2.16%; Seoul composite index closed 2.25%; Australia's S&P/ASX 200 index closed 1.9%.

The Chinese stock market once again showed a downward trend, the same day the deep V trend, the Shanghai Composite Index fell 0.62% worldwide, almost perfect reproduction of the "6.24" Britain.

The trend on the day of the event once again proved the strength of A shares.

It should be said that this year's A shares have encountered the "black swan event" again and again.

There are at least three big black swans.

For example, in June 15th, A shares were rejected by Ming Sheng company for the third time outside the MSCI index. In June 24th, the results of the referendum vote were announced, and the results of the US presidential election were announced in November 9th.

In the face of these three "Black Swans" attacks, the performance of the A share market is commendable.

Among them, A shares rose by 1.58% in June 15th, and a Changyang was collected.

In June 24th and November 9th, A shares went out of the deep V trend, and regarded the "black swan event" as an opportunity to wash the dishes.

A shares are not afraid of the attack of black swans. In the face of the attack of black swans, A shares have shown enough strength.

Despite the increase since the low point this year,

The overall increase is very limited, but this does not hinder the strong character of A shares.

After all, this year, management has been strengthening the investigation and handling of illegal activities, including the investigation and manipulation of market manipulation.

In the long run, this is a useful way to purify the market's investment environment, but in short, this is actually a speculation against market speculation, which is not conducive to the active market.

From the point of view of past regulation, in order to activate the market, regulators usually turn a blind eye to illegal activities, especially market manipulation, when the market is low.

Therefore, this way of supervision has kept the market under the supervision of gunfire for a long time.

Under this kind of artillery fire, the stock market did not lie down, but steadily increased.

This is a kind of toughness.

The reasons why the A share market can show such a strong character are mainly due to these points.

First, in the face of the "black swan incident" involving foreign investors, the A share market itself is not a completely open market, and the influence of foreign-related factors on A shares is relatively small. This is a very important reason.

Two, after three rounds of slump since last year, investors' ability to withstand pressure has been raised, so in the face of some bad attacks, the market tends to be more calm.

Three, the national team's support in the market has played an important role in maintaining the stability of the stock market, and this kind of protective disk has also led to an increase in the strength of investors to bargain.

In addition, the improvement of regulatory level has also reduced the impact of IPO on the market.

For example, IPO is dominated by small and medium-sized companies. Even the issuance of large cap stocks also controls the amount of fund-raising, thereby reducing the potential impact of IPO on the market.

At the same time, the regulatory authorities have intensified the inspection of IPO. Now, 73 of the first companies have been terminated in 1-9, and 55 of them have taken the initiative to apply for withdrawal. This gives the impression that the regulatory authorities are in control of IPO quality.

This will also help stabilize investor expectations and reduce the fear of IPO, thereby stabilizing the market.