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Stock Index Fell Three Days To 3.5%&Nbsp; A Stock Market Value Evaporated 1 Trillion And 900 Billion

2011/9/6 10:23:00 42

Stock Index Fell 3.5% A Shares Evaporated

A shares are using its performance to explain the importance of "liquidity" driving to the market.

Yesterday, the Shanghai stock index fell 1.96%, breaking below the 2500 point mark, and reported 2478.74 points.

This is also the three consecutive trading day of A shares. The three day fell by 3.5%, and the A stock market evaporated 1 trillion and 900 billion yuan.

Tighten

Policy is difficult to relax in the short term

From the closing point, Shanghai reported 2478.74 points, the most recent 13 months ago.

New low point

The previous closing was below this point in July 19, 2010.

Judging from the paction, the Shanghai Stock Exchange A shares traded as low as 56 billion 200 million yuan, slightly better than the 14 month low of the previous trading day.

Three consecutive days of decline also made the total market capitalization of A shares decreased from 26 trillion and 370 billion yuan to 24 trillion and 450 billion yuan, and the market value evaporated 1 trillion and 920 billion yuan.

Yesterday was

deposit

The first payment day for large banks after the reserve is extended to the base.

Tight capital market has left large cap stocks in a doldrums.

From a longer period of view, monetary policy is difficult to loosen.

In September 1st, Premier Wen Jiabao wrote in the magazine "seeking truth" that keeping the general price level basically stable is still the primary task of this year's economic work.

Dacheng Fund (micro-blog) believes that this shows that the current economic slowdown is still tolerable.

And some brokerages pointed out that this means tightening policy is still difficult to relax in the short term.

In addition to the restriction of the second tier cities in the real estate policy, the deposit reserve ratio has been enlarged, and a series of tightening policies have been introduced continuously. The Dacheng Fund researcher pointed out that the economic policy has overshoot risk (which means that the speed of regulation exceeds the normal speed or exceeds the expected), which has made the market more enthusiastic.

A shares difficult to change liquidity driven

In the face of A shares continued to slump, micro-blog, many investors on the forum put forward their views on the stock market.

Some investors believe that only when bank stocks and other large cap stocks pull up A shares, is the beginning of the real reversal of the stock market.

Institutional investors also believe that A shares are still troubled by liquidity.

The A Share Market Research Report released yesterday by CICC said it is expected that market funds will tighten significantly in late September, although the semi annual report is in line with expectations, but the stock market is still hard to change.

CICC mentioned "

capital

The main point is that the adjustment of the deposit reserve ratio will increase the amount of the reserve payment. At the end of the quarter, the bank's deposit and loan ratio assessment will increase the bank's demand for funds, as well as the three aspects of the large amount of cash extraction in the near eleven long holiday residents and enterprises.

Earlier, the chief economist of the Industrial Bank, Lu commissar, pointed out that A shares are still driven by liquidity because of their low dividend payout rate, so their rise and fall basically depend on liquidity.