As for the sharp decline in June, the butterfly effect caused by Guangda Bank's default amplified the panic effect of "money shortage" and triggered a rapid market decline.
As the leverage ratio continues to increase, the RMB excess reserves of commercial banks are gradually declining, and the marginal bearing capacity of the banking system's liquidity has also dropped significantly. Before this, the Bank of China's Bank of China will conduct inspections on the implementation of Document No. 8, which also forces banks to Off-balance sheet non-standard assets were transferred to on-balance sheet interbank assets, directly squeezing the interbank lending quota.
Many factors have exerted contractionary pressure on the liquidity of financial markets.
Last Monday, the four major banks announced that they had been significantly increased by Huijin and Qunxing Capital.
However, looking back now, today a super negative line poured down directly, and the Shanghai Stock Exchange Index plummeted -5.30%, falling below the 2,000-point mark. The stock market obviously failed to stop the decline due to these good news.
After the market close, all kinds of bad news gathered together.
The chief strategist of a brokerage firm said: The main reason why the market broke through 2,000 points was because interest rates in the inter-bank bond market soared, financial constraints caused market panic, and the combination of multiple negative factors such as the decline in economic growth in the second quarter caused the index to plummet. It is still difficult to judge that 1963 is the mid- to long-term bottom, because the earnings of listed companies have not yet reached an inflection point. The future market situation only depends on two conditions. One is whether there is discussion about the company's earnings listing period, and the other is whether the balance sheet of the corporate sector is healthy. .
It has to be said that it is very bad. When it fell below 2000 points, it was a big bear call. It was inevitable that it would take advantage of the situation to suppress and force the timid to cut off their flesh.
…
The next day, Tuesday, June 25th.
The A-share market opened, and the market index opened at a low of -0.76% at 1948.32 points. The call auction broke through the so-called "Jianguo bottom" of 1949 points, setting a new historical low.
The index barely turned red in the first half hour of the opening, but then the market took a turn for the worse. At 11 o'clock, the volume accelerated and dived directly below the 1900 point mark. At around 13:06 in the afternoon, the market index fell to 1849.65 points, a drop of nearly -6%. Hitting a new low in the past four years.
The market situation is so tragic that it has rarely been seen in recent years.
The market index is like this, and individual stocks are even more miserable. Among the 12 Galaxy concept stocks, 9 have dropped to their limit today, and the rest are also approaching their limit.
Quantitative Capital's stock price fell to 32.33 yuan, out of the four-day limit, and the market value shrank by 45.197 billion. It fell from the historical high price of 75.57 yuan, and the cumulative decline was -57.22%, exceeding the halving line.
When the market index of Xingyu Technology broke through 1,900 points in the afternoon, the stock price fell to the limit of 2.68 yuan.
The stock's recent high was its daily limit of 4.91 yuan on Friday, June 7, which was the day of the STAR4 launch. Now it has dropped to 2.68 yuan, with the cumulative decline reaching -45.42%. Basically, it's not much different from being cut in half.
The stock price of Xingyu Technology has fallen horribly, especially in the last five trading days, with five negative lines falling, and four of them falling by the limit.
The market itself has negative factors one after another, and for Xingyu Technology itself, major negative factors have occurred due to Qualcomm's unilateral default, which has caused the stock price to fall unilaterally.
But at the same time, STAR4 mobile phones are in short supply. It is now rumored that STAR4 will be the last song. Xingyu Technology's production capacity is also a total of 33 million units. Now it is actively suppressing shipments in order to stay in the consumer market as much as possible. quantity.
The combination of this series of factors has led to the rarity of products. The second-hand market prices of STAR4 mobile phones have been greatly increased. The price of the 256GB body memory version has been as high as 29,800 yuan per unit.
The stock price of Xingyu Technology's secondary market has fallen by the limit four times in five days, and all the bottom hunters have been buried. However, the market trend in the past few days is likely to be buried in other places, especially the market trend in the past two days. Small losses are profits. , if you don’t lose, you will make a big profit, if you make a small profit, you will make a huge profit.
…
Just when the market index fell to 1849 points, Fang Hong received a call from the village in just two minutes.
The village chief called personally.
The purpose of the visit is also very simple, and I won't beat around the bush. At this moment, I just want Fang Hong to use his influence to boost confidence in the market. The current situation is really a moment when confidence is more valuable than gold.
The market conditions this week are too tragic. The market index fell by more than 5 percentage points for two consecutive days, and fell by more than 10 percentage points in two days. This is not individual stocks, but the Shanghai Stock Exchange Index. Individual stocks are even more It's terrible.
At around 13:15, Fang Hong updated a blog post on his K3478 personal Weibo account:
【
During this period, many people asked me to analyze the reasons for the decline. Hindsight analysis does not make much sense. It focuses more on future layout. The market just fell by 1849 points. I personally believe that the historic bottom of A-shares has been reached. It appears that two days of continuous plummeting has vented all the selling sentiment, and the power of the short side has been exhausted. Perhaps there will never be such a low and cheap chip again in the future.
I have already invested heavily in buying the bottom, what are your strategies?
Opportunities are often born in despair. After the cold winter, it is the end of a cycle and the beginning of a new era.
】
Fang Hong regarded this Weibo as unswervingly bullish on the market outlook, and said with absolute certainty that 1849 was the historic bottom, and he was not worried about being slapped in the face at all.
Because Qunxing Capital will take action to cover the whole situation.
Even if someone wants to smash through the Shanghai stock index and slap him in the face, it is impossible to do it. Qunxing Capital dares to take as many chips as they throw out, and will not refuse.
Without the full guarantee of Qunxing Capital, Fang Hong would not be so absolute in public.
Just three minutes after his Weibo update was released, his blog post was even pushed as the latest market news by major market software:
[K3478: The historic bottom of A-shares has appeared, and we have already taken heavy positions to buy the bottom. 】
Stock investors who had fallen into despair were confused when they saw this news. Many people went directly to God K’s Weibo to check it out. When they saw that it was indeed God K’s Weibo, everyone couldn’t sit still.
What the stock investors are thinking at the moment is: Damn it, God K has taken a heavy position and bought the bottom, brothers are so cute——!
At the same time, Qunxing Capital also saw this, and without saying a word, it directly accelerated the entry of OTC funds into the market and took the lead in doing long. Its major capital institutions that manage market value for Qunxing also followed suit.
The market index stopped falling and then rose rapidly.
Xingyu Technology’s price limit has been pried open, Quantitative Capital’s price limit has been pried open, Yixing Video’s price limit has been pried open…
The bulls launched a desperate counterattack. When investors saw that K-God had just posted a message on the market, he began to counterattack strongly. Now they couldn't sit still. They entered the market one after another to go long and grab funds. The long-short sentiment of the entire market was reversed.
Confidence is more valuable than gold!
At this moment, market confidence is being restored, and the index has embarked on an epic deep V rebound.
At 13:30, the decline of the market index narrowed to -3.94%;
At 13:45, the market index regained the 1,900-point mark;
At 13:55, the decline of the market index narrowed to -2.23%, and it continued to rise...
At 14:30 in the last trading session, the market index narrowed to -0.96%. The daily K-line had a long lower shadow line, showing a gold needle bottoming pattern. Galaxy concept stocks also collectively turned red around 2:30. rose, and all of a sudden came out of the golden needle bottom pattern.
The entire market is going deep V for a big rebound.
As of the close, the Shanghai Composite Index finally closed down -0.19%, at 1959.51 points; the Shenzhen Component Index closed down -1.23%, at 7495.10 points; the GEM Index closed up +1.37%, at 984.75 points.
In terms of individual stocks, Quantitative Capital closed up +0.30% to 3.603 yuan, with a trading volume of 1.207 billion and a market value of 50.370 billion; Xingyu Technology closed up +0.15% to 2.98 yuan, with a trading volume of 4.167 billion and a market value of 820.558 billion.
Other galaxy concept stocks also closed slightly higher. The counterattack in the afternoon was so powerful that the entire market showed a short squeeze.
God K has become a god again!
…
(End of chapter)
