Recently, an exchange document was circulated in the market. This document was signed on March 1, and it has been 20 days now.
According to the data of the Dragon and Tiger List, the daily limit of Wuliangye on March 18 in Baima Market was actually driven by hot money, and most of the net purchases were business department seats, among which the well-known seats included the seat of CITIC Securities in Liyang Road, Shanghai, which was suspected to be Sun Guodong. Due to the speculation of all-pass education and Guizhou Gas, regulatory measures were taken on 20 15 and 20 18 respectively.
In the context of this document fire, market participants will definitely have the idea that hot money is afraid of supervision and begins to speculate on white horse stocks, and institutional investors will enjoy a rare honeymoon with hot money as in the second half of 20 17? White horse stocks were hyped at that time, will they be reinterpreted?
What's written on the document?
This document mainly aims at four typical abnormal situations in the market, provides reference standards for detection, and clarifies the key monitoring requirements, namely, false declaration, lifting and suppressing, maintaining the maximum price of price fluctuations, self-buying and self-selling, and mutual trading. And these four kinds of transactions are the common operating methods of hot money.
Specifically, false declaration refers to the abnormal trading behavior of luring, misleading or influencing other investors' normal trading decisions through a large number of declarations and cancellations for the purpose of closing a transaction. This is mainly reflected in the opening stage of call auction. In fact, this is also the most common case of being punished by the CSRC. At the same time, the notice paid attention to call auction. For example, in the opening stage of call auction, the quantity and amount declared; The proportion of cancellation of declaration is required.
Raising and suppressing the stock price refers to abnormal trading behaviors such as large amount declaration, continuous declaration, intensive declaration or price declaration, in which the stock trading price obviously deviates from the latest trading price, during which the stock trading price obviously rises or falls. In this part, the "Notice" has made indicators for the number and amount of transactions and the proportion of transactions.
Maintaining the maximum price in the rising (falling) range refers to the abnormal trading behavior of maintaining stock delivery in the limit state through large-scale declaration, continuous declaration and intensive declaration. In the stage of continuous bidding, stock trading is in a state of price limit, and after a single price limit declaration, the number or amount of effective remaining price declarations is huge, accounting for an increase in the proportion of the total effective remaining market price declarations, and this state lasts for more than 10 minutes, which will be concerned.
Self-buying and self-selling and mutual counterparty trading refer to the abnormal trading behavior of trading a large number of stocks between accounts actually controlled by oneself or between related accounts, which affects the trading price or trading volume of stocks.
At the same time, in the document, the exchange also stipulates six types of customers, which brokers should focus on monitoring. They are:
1。 Trading behavior touches the detection index many times in a certain period of time.
2。 It was listed in the list of key monitoring accounts by the two institutes, and once again touched the monitoring indicators.
3。 Be punished by the exchange for serious abnormal trading behavior.
4。 Being subject to administrative punishment or criminal sanctions for insider trading, market manipulation and other securities violations.
5。 Although the monitoring indicators have not been touched, there is no obvious intention to evade without justifiable reasons.
6。 Other circumstances that the brokerage firm believes need to be monitored.
Will hot money turn off?
In fact, since March 8, the growth rate of demon stocks has indeed begun to weaken.
Taking this wave as the leading factor, it attracted a lot of hot money and became the first ten-fold Eastern Communication this year. On March 8, China Eastern Airlines fell. By the close of March 2 1, the share price of China Eastern Airlines was 30.04 yuan. In just 9 trading days, China Eastern Airlines dropped by 2 1.3%.
Of course, it's not just China Eastern Communications that is weak. Since March 8, the poor performance stocks that have been leading the market have weakened. According to the performance thunderstorm index, the index reached 1422.48 points on March 8, but it was only 14 17.98 points at the close today, and the index fell by 0.3 1% in nine trading days.
Previously, Tiger Finance has sorted out 10 only the stocks with the highest increase in the underperforming stock market. These stocks all experienced huge performance losses at 1, but they soared under the speculation of hot money.
However, in the past nine trading days, these stocks began to fall after losing the relay of hot money.
Among the 10 stocks, there are 6 stocks with a drop of more than 15%, namely Lingyi Zhizao, Huaying Technology, Huadong Technology, Oriental Jinyu, Omar Electric and Tianhai Defense, among which Huadong Technology has the largest drop of 19.54%. Only Tianhe Defence and Lefei Audio are on the rise, but the increase is less than 2%.
Time goes back to 20 17. Since April, the CSRC has supervised the vicious speculation of sub-new shares. Affected by the policy, the theme of sub-new shares has been turned off, and hot money has been cut and shipped. At the same time, the China Securities Regulatory Commission has been issuing fines for the manipulation of the market by hot money. The famous Niu Sanxu and Liao were severely punished. At the same time, the CSRC strictly supervised the accounts with market value plus margin ratio exceeding 5 million positions, which led to the ecological collapse of hot money.
However, overall, the supervision of this round of hot money speculation is generally mild. In addition to the fact that the CSRC has not announced any specific punishment cases for hot money behavior, China, a broker of Securities Times, also commented on the report: "This notice more than half a month ago has nothing to do with market ups and downs, and has little to do with market changes."
Symbiosis?
Interestingly, under the weakness of demon stocks, another wave of white horse stocks began to skyrocket.
In fact, liquor stocks have always been the favorite sector of institutional investment. However, in the after-hours list, it can be seen that the appearance of the market is the result of the joint efforts of institutions and hot money in sedan chair.
Judging from the after-hours list of March 18, although the first place to buy seats was the Shenzhen Stock Connect seat, the overall capital flow on that day was a net sale. In addition, among the other four seats, the securities business department of Ganhe Avenue in Xianning, changjiang securities bought the most but was listed for the first time in the past three months; Its seats include Guotai Junan Shanghai Branch, CITIC Shanghai Liyang Road, GF Securities Xi 'an Annan Guangji Street, etc., all of which are frequently listed by hot money, among which Shanghai Liyang Road is suspected to be the business department of well-known hot money Sun Guodong.
20 15, hot money and institutions spent a rare honeymoon with the theme of "Belt and Road" and "internet plus". At that time, hot money and institutions earned a lot of money. However, in 20 16, hot money left the market one after another, causing institutional investors to suffer a sharp drop.
At the beginning of 2065438+2008, after the white horse stock market temporarily came to an end, a well-known hot money "Galaxy Securities Hangzhou Chun Qing Road Sales Department" once appeared in Gree Electric's sales attendance with a turnover of 65438+300 million, which became a rare glimpse of hot money in white horse stocks in recent years. Recently, "Galaxy Securities Hangzhou Chun Qing Road Sales Department" lingered in Hua Fu, Fudan, and has pulled out eight boards.
Now, on 20 19, the "supervised" hot money is once again carrying the sedan chair of institutional investors.
However, in this "Notice", there appeared the supervision of brokers on the types of customers. The white horse stock market in March 18 did not seem to last long, and the sought-after white horse stocks had been resting for many days.
(Article source: Global Tiger Finance)