Chapter 299: Resonance Trend after Adjustment
March 10, Tuesday; the most market-focused event today is undoubtedly the resumption of trading of CNR and CSR, which attracted the attention of countless investors.
Both companies issued announcements after concluding their first extraordinary general meeting of shareholders of 2015 yesterday.
CSR and CSR have respectively made antitrust declarations for the merger in accordance with local laws and regulations, and have obtained the necessary approvals required for the merger from the antitrust agencies of these countries without any additional conditions or obligations.
The State-owned Assets Supervision and Administration Commission approved and passed the antitrust declarations of various countries; at this point, the two largest effective agreements and implementation conditions in the CSR and CSR merger agreement have all been reached.
Subsequently, the two companies only need to obtain administrative approval from the regulatory authorities of both A-shares and H-shares to implement the formal merger terms; this is no longer an obstacle.
At 9:25, after a sharp change before the suspension, CSR and CSR, which had great benefits today, did not both surge at the opening as expected by the public. CSR and CSR opened at 13.80 yuan, up 1.17%.
The Shanghai Composite Index failed to continue yesterday's surge and opened slightly lower. However, the performance of the ChiNext Index was surprising. Today, the ChiNext Index directly broke through the 2,000 point mark and opened higher at 2,001.19 points.
Judging from the daily line, the three major indexes of the Shanghai and Shenzhen stock markets, which had a medium-sized positive line yesterday, have begun to show a trend of turning from weak to strong; although the Shanghai Composite Index did not open high, it still stood firm on the major daily moving averages, and there is no need to say more about the ChiNext Index.
At 9:30, official trading began. While CNR and CSR attracted most of the investors' attention, the ChiNext Index opened high and ended high, with no intention of filling the gap, while the Shanghai Composite Index maintained a narrow range of fluctuations.
Zhongguo CSR opened slightly higher after resuming trading and quickly rose at the opening. At 9:35, a straight line pushed the share price up to 14.48 yuan, a surge of 6.16% on the day. Calls for a daily limit have been heard one after another in the stock trading area.
The sudden unusual movement at the end of last Thursday's trading has now been forgotten by investors; since resuming trading on December 31 last year, the popularity of CNR and CSR has remained high, and the popularity of the concept of state-owned asset reform has made ordinary investors particularly fond of these giant companies.
Investors' pursuit has led to the emergence of a series of giant companies, starting with the blue-chip stocks. After being educated by a series of big guys, ordinary investors have also begun to stay away from blue-chip stocks.
They would rather gamble with hot money among small and medium-sized growth stocks than buy undervalued blue-chip stocks; this was the mentality of most investors from the stock market crash in 2015 to around 2020.
And by the time they start to have expectations for value investing again, it will be time to take over. Of course, the investors who survived the 2015 stock market crash can be considered old investors, and old investors are naturally not so easy to deceive.
Since 2015, as the stock index has been hovering around 3,000 points for a long time, there have been limited new entrants into the market. At this time, the buyers have shifted from ordinary investors to fund investors.
After the Lunar New Year in 2020, a large number of investors were trapped in a series of star funds for several years, and there were many investors who lost more money from buying and selling funds than from trading stocks themselves.
In stock trading, there is never a shortage of people willing to take over.
At 9:38, Zhongguo CNR's share price suddenly changed amid calls for a daily limit. Over 80,000 huge sell orders totaling over 120 million yuan suddenly appeared in the trading market. Zhongguo CNR's share price quickly fell below 14 yuan to 13.98 yuan.
"Ha, the market crashed, a bit exciting." Gu Junhao said with a smile. Today, CNR and CSR only opened slightly lower, but in Gu Junhao's opinion, this already represented his attitude.
Last Thursday, the market launched a sneak attack at the end of the trading day to grab shares. However, today, with such good news, the market only opened slightly higher. This is enough to show that the funds that entered on Thursday and Friday wanted to exit.
For CSR, which has extensive business all over the world, the most critical factor in its merger is not domestic development, but passing antitrust investigations in countries around the world.
In short-term trading, the most taboo thing is the realization of favorable news, which often means that the expectations of a period of time have been achieved; the so-called favorable shipments are also like this.
On the other hand, after one and a half months of adjustments, there are a large number of trapped shares above 14 yuan at CSR that need to be released, and the pressure in this regard is also very great.
It should be noted that on January 21, the high point of CSR's high-level cross-line trend had a transaction volume of more than 13 billion yuan. Now that the transaction volume is shrinking, it is obviously not so easy to break through smoothly.
After rising and falling, CSR's share price continued to fall. At 10 o'clock, CSR reported 13.89 yuan, and the decline narrowed to 1.83%. 15 minutes later, CSR turned green during the day. At 10:20, CSR reported 13.38 yuan, and the share price fell by 1.91%.
With a volatility of more than 8%, Zhongguo CSR, whose stock price has been falling continuously, has trapped a large amount of incremental funds today. This will have a significant impact on the weighted stocks and stocks with Chinese characters in their names. The willingness for funds to flow back to small and medium-sized enterprises has become even stronger.
At 10:30, the ChiNext Index reported 2036.85 points. Following yesterday, it surged by more than 2% again. The stock index successfully broke through the highest level on March 5 and set a new high again.
In terms of sectors today, the sports industry and solar energy led the gains. The Internet finance sector, which surged yesterday, saw some adjustments. The securities sector, as the leader of the bull market, remained flat and fluctuated in the morning.
At the midday close, the ChiNext Index ended with a continuous record high, the Shanghai Composite Index fell slightly, and CSR Corporation Limited, which had risen and then fallen, closed at 13.52 yuan at noon, down 0.88%. The transaction volume in the morning exceeded 3.2 billion yuan.
In the afternoon, the ChiNext Index continued its upward pattern; and in recent times, the securities sector, which had either fallen sharply or traded sideways in the morning and began to rise in the afternoon, also did so today as expected.
Rising in the afternoon followed by a fall seems to have become the standard for the securities sector recently; at 1:30 p.m., the securities firm made an effort and the share price of Xibu Securities rose from underwater, rising by more than 1.5% within three minutes.
At 13:40, the share price of Xibu Securities rose by more than 5% at one point. With the rise of the securities sector, the Shanghai Composite Index briefly turned positive. However, today's trading volume has shrunk significantly compared with yesterday.
Among the three major financial sectors, only securities companies rose, and the impact on the index was not very large. Zhongguo CSR continued to plunge in the afternoon, and its share price once fell below 13 yuan.
The securities sector, which had been rising with a reduced volume, began to fall back after encountering resistance, driving the Shanghai Composite Index to turn green again. As of today's close, the Shanghai Composite Index fell by 0.49% with a reduced volume.
The ChiNext Index surged 2.55% during the day and closed at 2045.32 points, a brilliant performance.
On Wednesday, March 11, the 28 market situation switched again. The securities sector, which had rebounded in the afternoon for two consecutive days, opened higher today. The sector as a whole rose by nearly 2% during the session. Affected by this, the Shanghai Composite Index rose by more than 1% during the session.
After two consecutive trading days of sharp rises in small and medium-sized growth stocks, the sentiment of chasing high prices has cooled down. The ChiNext Index entered a narrow range of adjustment today. By the close, the Shanghai Composite Index rose 0.15%, and the ChiNext Index fell 0.46%.
The Shanghai Composite Index adjusted with small negative and positive lines for two consecutive trading days. After re-stabilizing at 3,300 points, the index gradually stabilized on the major daily moving averages. Following the ChiNext Index, it is also expected to enter an upward trend.
After two consecutive trading days of staggered adjustments, the Shanghai and Shanghai stock markets entered another trading day on Thursday, influenced by yesterday's after-market news that many banks are actively preparing for credit asset securitization business and are expected to obtain business qualifications in the first half of the year.
During the call auction phase, the banking sector surged across the board, and the Shanghai Composite Index opened sharply higher as a result. As for theme stocks, the domestic software, solar energy and other sectors, which had been surging for several consecutive days, opened sharply lower.
"It seems that blue chip stocks will dominate the market again today." Gu Junhao sighed. With the incremental funds shutting down again, the two markets entered into a state of on-site game again.
It seems that this kind of trend is unavoidable in the short term. After a big surge and two consecutive trading days of small adjustments, Gu Junhao's Tonghuashun opened again at a low price of 82.80 yuan today.
After the trading officially started, the banking sector rose rapidly under the stimulus of favorable factors. Xinye Bank, Ningbo Bank, Jinling Bank and others once again hit the daily limit after the unusual movements in the previous few days.
The two markets diverged, with the Shanghai Composite Index moving upward under the leadership of the banking sector. In addition to the banking sector, the insurance, securities, coal, nonferrous metals and real estate sectors also performed very well today.
The four major insurance companies all rose, and more than 20 brokerage stocks were also almost all in an upward trend. The heavyweight stocks attracted most of the market funds.
The ChiNext Index performed much worse than before due to severe blood loss. Affected by the sharp drop in the early trading, two stocks among the constituent stocks hit the limit down. At the beginning of the trading, Lianchuang Energy Saving and Zhongwen Online went straight to the limit down.
Although high-priced stocks often experience intraday declines and adjustments, Tong Huashun and Yin Zhijie also often experience intraday declines of more than 5%, but overall, since the ChiNext rebounded on the first trading day of this year, there have been very few stocks that have hit the daily limit.
Affected by this, after opening low, Tonghuashun fell by nearly 2% due to large buying orders by 10 o'clock, and the stock price fell again to around the 20-day line.
After several days of adjustment, the major moving averages near Tong Huashun's daily price have begun to get entangled. The 20-day line has gradually started to rise, but the five-day line and the ten-day line have not changed much.
In terms of weekly charts, this is the third week of continuous adjustment for Tong Huashun. The stock price is near the five-day line price of the weekly chart, and Tong Huashun's trend is beginning to face a turning point.
At 10:18, Tonghuashun's trading quotation changed abnormally. A buy order of 696 lots instantly raised Tonghuashun's stock price from 81.90 yuan to 83 yuan. This was another large order following the purchase of more than 1,000 lots at the opening.
At 10:19, Tonghuashun briefly turned positive, and then the stock price fluctuated again to 83 yuan. Two minutes later, Tonghuashun rose again. At 10:30, Tonghuashun was priced at 84.56 yuan, up 1.77% on the day.
"Have we finally gotten rid of the influence of the index?" Gu Junhao said with some relief as he looked at Tong Huashun's trend.
Facing a turning point, whether the trend can get rid of the influence of the index is extremely critical. Among the previous influences, Tong Huashun was greatly affected by the index. But today, when the index continues to pull back, Tong Huashun has moved abnormally and tried to get rid of its influence. This is extremely rare.
At 10:33, the rapidly rising share price of Tonghuashun was reported at 85.69 yuan, with an increase of more than 3%. It also touched the 10-day line pressure position of the daily line. Under the influence of this, the selling volume of Tonghuashun began to gradually increase.
However, judging from the carrying capacity, the main force's willingness to go long today is still relatively obvious. During the trading session, buying points of more than 500 lots appeared from time to time, gradually digesting the selling power.
After half an hour of adjustment, at 10:59, Tonghuashun received three consecutive buy orders of more than 2,000 lots, with a total capital of more than 60 million yuan, and the stock price began to rise rapidly.
At 11:09, Tonghuashun's share price rose by more than 5%, reaching 87.49 yuan. When the ChiNext Index once fell to around 2,000 points during the trading session, Tonghuashun went against the trend.
Yinzhijie, which has the same performance, also went against the market trend today, with its stock price remaining in the 1% increase range. However, Yinzhijie's volume shrank severely today, and the trend returned to its previous heartbeat-like fluctuation state.
At the midday close, the rapidly rising share price of Tonghuashun was reported at 89.98 yuan, a surge of 8.29% on the day. The amplitude in the morning exceeded 10%, which was an outstanding performance.
However, with the wave of increases in the afternoon, Tonghuashun's trading volume has dropped significantly compared to 11 o'clock. Entering the afternoon, with the continued poor performance of the ChiNext, Tonghuashun's stock price also fell significantly.
Although it failed to achieve a breakthrough of 90 yuan; even so, Tonghuashun's stock price has remained above 85 yuan in the afternoon, and its performance is still very strong. It closed at 86.09 yuan. While the stock price achieved a 3.61% increase, it finally stabilized at the 10-day line position of the daily line.
In terms of indices, the ChiNext Index recovered 0.87% of its daily decline, while the Shanghai Composite Index ended today's trading with a surge of 1.78%. The three major financial sectors performed well, with a total of five stocks in the banking sector hitting the daily limit.
This divergent trend between the two stock markets in Shanghai finally came to an end on Friday. The market saw a general rise again on Friday. In the morning, the banking and securities sectors made efforts to push the Shanghai Composite Index forward.
Entering the afternoon, small and medium-sized growth stocks that experienced yesterday's major adjustment began to take over the heavyweight upward trend, and the two markets finally saw a rare reappearance of the flourishing market trend.
Trading volume also began to increase; next week, the two sessions will end, and the latest batch of new stock subscription funds will also be unfrozen. The Shanghai and Shenzhen stock markets, which have ended their turbulent period, have achieved a rare resonant trend today.
At the end of the day's trading, the Shanghai Composite Index closed at 3372.91 points, up 0.70% on the day and 4.06% in a week. Among them, the performance of securities companies and banks was particularly outstanding.
The recovering securities sector is particularly valuable for A-shares that have ended a period of news turmoil. The ChiNext Index surged 2.52% today, closing at 2069.07 points.
Since February, the ChiNext Index has seen six consecutive positive weekly lines. The six-line positive weekly trend has already represented that the ChiNext Index has entered the accelerated trend of this round of bull market ahead of schedule.
The performance of the two markets that achieved resonance today after ending the period of news turmoil is very worth looking forward to.
