High market volatility, reducing the temperature

May 19, the Shanghai Composite Index closed at 2686.68 points, again a rebound since the new highs. continued to rise in the market at the same time, the listed company's shareholders to reduce the lifting of the shares of the Act also increased, especially the large and non-reduction again active.　　As of May 19, the scale of reduction in May (refers to the listed companies announced the reduction of the behavior, the same below) has reached 482 million shares, more than the April total reduction of the number of months. May to reduce the market value of 3.7 billion yuan into May, the Shanghai Composite Index starting from 2477.57 points, shocks higher than ever since the rebound of the new highs.　　However, the rise in stock prices has led to a rise in shareholder profit reduction boom. Since May, a total of 63 listed companies issued reduction announcements, shareholders to reduce the total number of shares reached 482 million shares. The market value is about 3.736 billion yuan, based on the average price of a transaction or a change in stock prices.　　This period of trading day only 12, May Average daily reduction in the number of shares of 40.1649 million, reduce the market value of 311 million yuan. Since May, has been reduced to the largest Zijin mining, natural shareholders Coshiping reduce the stock 74.7669 million shares, the market value of about 664 million yuan.　　In fact, Zijin mining original shareholder shares have just started to circulate on April 27, Coshiping from April 27 to May 5 through the Shanghai Stock exchange of the bulk trading system, bidding trading system to reduce the company shares 21.1 million shares, 53.6669 million shares.　　In addition, Poly Real estate, Shao-energy shares, such as 7 companies have been reduced stock market value also exceeded 100 million yuan.　　May reduction of the scale of 13 million shares in China Securities registration and clearing company 18th released data show that April Shanghai and Shenzhen stock market share reform restricted shares reduced 1.016 billion shares, compared to March 68 million shares. And the disclosure of listed companies, 67 companies disclosed in April to reduce the announcement, minus the total share of 469 million shares, according to the average price of the transaction or changes in stock prices, the market value of about 3.722 billion yuan.　　From April to reduce the scale, significantly lower than the March reduction of 1.045 billion shares, the market value of 14.386 billion yuan level, but also less than February reduction of 666 million shares, the market value of 6.434 billion yuan scale. However, since May a-share shock rose, volume continued to magnify, increased the willingness to reduce the non-tradable. The announcement of the first 12 trading days of May alone has surpassed the April-month level. In addition, from the daily average, a total of 22 trading days throughout April, the average daily reduction in the number of shares of 22.0292 million yuan, reduce the market value of 179 million yuan.　　By contrast, the average number of shares in May and the value of the reduction in market capitalisation have increased significantly. Market personage analysis, since 2009 along with the market continues to rise, the non-tradable shares of the power also gradually increased.　　As a result of the market breakthrough after 2,600 points, the volatility intensified, especially in the early period of larger shares of the valuation pressure increase, some shareholders also moved the "idea" of profit. Large and non reduction againHeating up according to the Chinese securities registration and clearing company 18th disclosed data, April was reduced by all shares in the stock market share restrictions, holding a limited number of shares of more than equal to 5% of the "big non" total reduction of 411 million shares, reducing the volume of 117 million shares decreased compared with March. From the announcement of listed companies, the April large non-announcement of the number of reduction is also the least. In April only 6 companies disclosed information on the reduction of shares by major shareholders, with a total of 55.2 million shares and a market value of 478 million yuan.　　With March, 14 companies disclosed large shareholders to reduce the shareholding of the announcement, the reduction of 87.565 million shares in April, the scale of the large non-reduction significantly shrank. However, with the May reduction of the size of the chain amplification, large-scale reduction in the month again active.　　As of May 19, 12 companies have disclosed information on the reduction of shares of major shareholders, with a total of 69.5595 million shares and a market value of 559 million yuan. It should be pointed out that, because the information disclosure of the rigid requirements of the number of reduction, listed companies announced the reduction of information relative lag, and some of the reduction is quite a long time cumulative results. The Chinese securities registration and clearing company's statistics are more comprehensive and timely, but there is no specific company data, therefore, the two should be combined analysis.