Xinhua News Agency, Beijing, January 21 (Reporter Luo Yishu) The number of new investor accounts increased by 100%year-on-year. The turnover of the two cities exceeded one trillion in 10 trading days. Since the beginning of the year, the share of public offerings has exceeded 100 billion… A number of indicators show that investors’ preference for my country’s capital market has increased significantly. From the perspective of industry insiders, multiple reasons have contributed to the steady recovery of the macro economy, the accelerated recovery of the performance of listed companies, and the continuous advancement of the deepening reform of the capital market. However, experts also reminded that investors still need to be alert to risks under the”hot” market.
Investors’ enthusiasm for entering the market is high
As of the close of January 20, the three major indexes closed up again, of which the Shanghai Composite Index rose 0.47%. The Shenzhen Component Index rose 1.46%, and the ChiNext Index surged 3.90%. Since the end of last year, the overall market has continued to perform at a high level of prosperity. According to data from Flushing, the Shanghai Composite Index has risen by 3.16%since the beginning of the year. The Component Index rose 5.20%, and the ChiNext Index rose 8.05%.
Driven by market performance, investors’ pace of”running into the market” has further accelerated. According to the latest data released by China Clearing, the number of new investor accounts in December 2020 was 1.6218 million, a year-on-year increase of 100.39%. At the end of the period, the number of investors was 177,774,900, a year-on-year increase of 11.28%. According to statistics, since March 2020, the number of new investors in the two cities has exceeded one million for 10 consecutive months.
At the same time, with the continuous release of favorable policies, the number of two financing accounts opened has also continued to increase. According to data from China Settlement, as of the end of 2020, there were a total of 5.5807 million investors in the financing and financing accounts, an increase of approximately 500,000 from the end of 2019. According to data from Flush, as of December 31, 2020, the Shanghai and Shenzhen financing balances were 1.62 trillion yuan, of which the financing balance was 1.48 trillion yuan, an increase of about 24 billion yuan from the previous month; the securities lending balance was 137 billion yuan, an increase of about 200 yuan from the previous month. 100 million yuan. The Shanghai and Shenzhen financing balances will increase by 60%in 2020.
On the other hand, more funds are also”borrowing” public offerings to accelerate their entry into the market. On January 18, the total subscription scale of E Fund’s competitive advantage corporate fund reached 239.858 billion yuan, breaking the 135.7 billion yuan subscription record set by Penghua Fund last year. Taking the subscription start date as the standard statistics, only 20 days since the beginning of the year, 33 funds have appeared on the market, with a total of more than 200 billion new shares. On average, 1 to 2 funds are raised every day, and 100 billion funds are subscribed. The hot selling situation has repeatedly appeared.
In addition, since the beginning of this year, market trading has continued to remain active. Since the beginning of the year, the turnover of the two cities has exceeded one trillion in 10 trading days. Yuekai Securities pointed out that the market trading volume remained high, coupled with the continuous inflow of capital from the north, indicating that the market’s attractiveness has gradually increased in the context of the strengthening of the stock market’s money-making effect.
Three reasons have given rise to a”funding fever” in the market
MacroeconomicsThe background of recovery has laid the foundation for the recovery of listed companies’ annual performance. At the same time, the comprehensive deepening reform of the capital market is also accelerating, and the institutional level has been further improved. Multiple reasons have jointly given birth to the situation of”enthusiasm entering the market” of funds . However, industry insiders also reminded that the current trend of the A-share market is still uncertain, and investors are advised to pay attention to the risks of short-term overheating.
Previously released economic data also showed the”warmness” of recovery. On January 18, the 2020 China Economic Annual Report was officially released:GDP reached 101.6 trillion yuan, breaking through 100 trillion for the first time in history; the annual economic growth was 2.3%, and it is expected to be the only major player in the world to achieve positive economic growth. Economy.
A number of listed companies’ performance forecasts for 2020 are also frequently reported. Flush data shows that as of January 20, a total of 1032 listed companies in the A-share market have released 2020 full-year performance forecasts. Among them, 583 companies have pre-happy (including pre-increasing, turnaround, and slight increase), accounting for more than 56%. Machinery equipment, electronics, electrical equipment, food and beverages and other industries pre-happy listed companies accounted for more than 60%.
At the same time, the road map for deepening reform of my country’s capital market is gradually being drawn up. The chairman of the China Securities Regulatory Commission, Yi Huiman, stated at the forum on the 30th anniversary of the establishment of the capital market that it is necessary to focus on core tasks such as”fully implementing the registration system for stock issuance, establishing a normalized delisting mechanism, and increasing the proportion of direct financing.” The reform of the delisting system is an important starting point to strengthen the construction of basic systems; further unblock diversified exit channels, strengthen the survival of the fittest; coordinate the promotion of issuance and underwriting, Key institutional innovations in areas such as trading, continuous supervision and investor protection, and solid advancement of institutional opening. According to industry insiders, as the system continues to improve, the market pricing function is expected to become more prominent.
However, under the increasingly heated market, investors still need to pay attention to risks. Shanxi Securities said that the current high daily trading volume may bring greater volatility, and the valuation of the A-share market institutions It is already high, and it is difficult for related subjects to maintain a rapid upward trend in the short term. It is recommended that investors extend the investment cycle of related subjects. Industry insiders pointed out that the current follow-up trend of A-shares is still unclear, and there are still uncertainties in the domestic and foreign markets. If investors only have the purpose of obtaining short-term and rapid income, they may face risks. (End)