A Shares Broke Through 3140 Points Did Not Cause Most Stocks To Follow Suit.

Since November this year, the SFC has approved the speed of the first application.

Only by achieving the balanced development of stock financing and investment will it be conducive to the long-term healthy development of the stock market and more in line with the common wishes of the market.

Among them, from the approval of 9 enterprises in November 4th to the approval of 15 enterprises in November 11th, and the approval of 14 enterprises in November 18th, within a few weeks, the accumulative financing scale of new IPO has reached more than 20 billion yuan, basically forming the approval rate of every batch on Monday.

In fact, since the beginning of this year, the rhythm of IPO issuance in the A share market is also gradually increasing.

In the 1 and February of this year, the IPO rhythm of the market was in a single monthly batch, and the total monthly financing total was only 40 billion.

Then gradually increased to one month approved the rhythm of the two IPO, the total amount of monthly financing has gradually increased from less than ten billion yuan to the level of 12 billion yuan.

However, the sudden acceleration of the pace of IPO issuance in November really made investors very uncomfortable.

Looking at the performance of the market this year, since the 2638 low in the first half of the year,

The cumulative increase has reached 20%, and the stock market is basically in a slow market position. The market earning effect and investment confidence have also been properly restored.

Obviously, compared with last year's ups and downs of market performance, this year's market trend is more calm, volatility has also seen a sharp decline.

It is undeniable that when the confidence of market investment is properly restored, it can moderately raise the financing ability of the stock market, so as to give play to the function of direct financing of the stock market.

But the function of stock market financing is not to consume in the shortest time. Blindly pursuing the consequences of quantity and speed may cause the stock market to make money and weaken the investment confidence again.

This shows that when the stock market's earning effect and investment confidence once again decline, the advantage of stock market financing will also be greatly reduced, and the market may have to put more energy to boost confidence in the stock market.

The new regulation of IPO is intended to abolish the pre payment purchase mode, enhance the utilization ratio of market funds, and indirectly stimulate investors to increase the allocation ratio of blue chips by using the rules of market capitalization, so as to achieve the goal of locking up.

Intention.

Obviously, under the new regulation mode of IPO, the pressure of the IPO on the stock market stock will suddenly drop, which is essentially different from that of last year.

However,

Financing will eventually take away the liquidity of the market, and too frequent IPO issuance will only allow the market to focus on some areas with money making effects.

As a result, in the face of nearly 3000 listed companies in the A-share market, general inflation or A phenomenon is difficult to intensive.

And in the market environment dominated by stock capital, the intensive blood pressure to deal with IPO and refinancing is more likely to further distract the attention of investment and lock in some targets with considerable profit effect to achieve the purpose of preserving and increasing assets.

At present, the stock market still has some money making effect, which is easy to attract some funds to participate in it, thereby resisting the frequent intensive blood pressure.

However, in the face of excessive consumption of IPO financing and refinancing, the influx of new liquidity in the stock market will directly test the market trend.

Step by step, once the new liquidity can not withstand the pressure of market blood pressure, the stock market will accelerate the formation of a turning point.

Next, we should maintain the investment vitality of the stock market and maintain the efficient financing capability of the stock market, perhaps the common intention of the current market.

From this point of view, on the one hand, we can moderate the pace of IPO issuance, adjusting the speed of the two batches of Monday batch on the previous Monday, slightly reducing the intensity of Monday financing; on the other hand, we can start from the perspective of tightening refinancing, enhance the entry threshold for refinancing, or reduce the scale of refinancing, reduce the pressure of stock market financing and refinancing, and lighten the burden on China's stock market with heavy pressure.