More than 60% retail investors hit new earnings for negative market still unspeakable bottom

Panorama January 26 News of the recent market downturn, resulting from the motherboard to the gem, and then to the SME plate, a-share market in the growing "broken mmmm" has not been spared. According to the latest statistics, a total of 26 new listings in January, including 3 motherboards, 15 Gem and 8 SME stock, of which 19 only encounter break, break rate of 73%, it is worth mentioning that the newly listed 8 of the stock "annihilated", all break. In the process of a sharp narrowing of the IPO premium or even a negative premium, "playing new shares" has gradually become a part of the shareholder's heart pain. Panorama survey data show that, since entering 2011, 63.37% of the retail purchase of new shares negative, compared to 2010 45% of the data climbed again, more than 60% retail investors said that the new shares will take a "resolute avoidance" attitude.　　The survey results also show that, as the gem and the "three high" distribution of the risk of more and more strong, more than 50% of the Netizen said to choose the motherboard to play new. Recently, "Break" has become a popular keyword in a-share market.　　New shares not only in the market for a period of time after the "break" risk, even the first day of the IPO is also "unsafe", in January, 19 break of the new shares, 13 new shares on the first day of the IPO has broken the IPO price, all indications that the new shares have faded the "no venture According to a survey of the Panorama network, most of the retail investors did not make any gains or even lost money in January 2011. Among the more investors who participated in the survey, the proportion of "overall profit" for the new shares since 2011 was only 24.1%, and the proportion of "no gain and no compensation" was 12.53%.　　Surprisingly, the "loss" ratio reached 63.37% per cent, the highest among all investors. In fact, recent breaks in a series of new shares have inevitably affected retail investors ' enthusiasm for new shares. The survey showed that the percentage of retail investors who were "resolutely avoiding new" as a result of the break appeared to be as high as 61.14%, which shows how worried retail investors are at the moment. Among all the retail investors, the proportion of investors who are willing to "hit new shares" is less than 10% in the next period, and a small number of retail individuals say "selective participation" is 29.7%. The recent rapid increase in the rate of the check, but also shows the enthusiasm of investors to purchase a sudden drop in January, the average rate of 26 new shares reached 1.26%, and last night announced the rate of check, East Fu long check rate as high as 7.16%, set the Gem Open board since the highest record.　　This shows that the recent new shares broke mmmm has spread to the first market, investors to purchase new shares risk awareness significantly enhanced. In addition, the survey results show that, relatively speaking, retail investors believe that the current purchase of the motherboard new shares more secure. In several categories of new shares, the tendency to purchase the main board of the retail proportion of 53.61%, far higher than the tendency to purchase small and medium-sized Board of 30.12% and Gem 16.27%.　　A change in the last year to purchase small and medium-sized stock trend. On the causes of new shares break, many industriesInsiders believe that there are three major factors: the rising price/earnings ratio, the excessive recruitment phenomenon, the agency's bid to drive up the prices caused by the high issue. Continued huge financing, coupled with short-term market funds approaching, will inevitably lead to break. Xiang-finance securities that from the short-term market view, the three high problems are difficult to perfect. The essence of this is that it is a similar place to be listed companies, sponsors, investors and other multi-party games, in the short term market capacity is not sufficiently large, this phenomenon will remain in the short term. Xiang-finance securities also said that although there have been many breaks in history, the market at the bottom of the market phenomenon, but the price-earnings ratio was set at 20 times times, at present, forty or fifty times times the current price-earnings ratio is still high, the market naturally unspeakable bottom.