The sharp fall in overnight stocks, the stimulus, yesterday a shares sharply lower open

Abstract: In the overnight stock crash of the stimulus, yesterday's a-share a sharp low open. However, due to the shortage of funds between banks a slight easing of signs, a A-share low after a small high walk, Shanghai Composite Index once turned red. But with the end of the fund face again nervous, the Shanghai Composite Index eventually still

In the overnight stock crash of the stimulus, yesterday's a shares sharply lower open. However, due to the shortage of funds between banks a slight easing of signs, a A-share low after a small high walk, Shanghai Composite Index once turned red. However, with the end of the fund face again nervous, the Shanghai Composite Index still fell 0.52%. At the Friday air Show, the CSRC said the domestic media reports that new offerings would resume next month, saying there was no timetable for the IPO to restart. The news is clearly a short-term boost for a a-share, but investors cannot expect too much from the stimulus.

Panic accompanies global fall

On June 20, stocks, bonds and commodities plunged after the opening of shares in Europe and the US after the Fed's QE forecast and China's cash-strapped impact.

The s&p500 index fell 2.5% per cent, with 10-year US bond yields soaring to 2.47% in two-year highs, which led to a further fall of 0.45% for the IEF fund following the 10 US debt, as well as a decline in commodities, with the German commodity index generally down 3.25%. The entire financial market, can hardly find the mainstream varieties of the rise.

The VIX index, which represents the volatility of the s&p500 index option, also topped 20 for the first, meaning the more intense the market panic.

A shares run counter to interest rates

Although rumours such as central bank injections are hard to prove, the 7-day capital market interest rate has fallen but is an objective fact, when the capital face panic relief, after the oversold after the Shanghai Composite Index can naturally start to rebound. To 14:20 P.M., the Shanghai Composite Index once turned red rose 0.06%.

However, after 14:30, the capital market again tight, SSE 7th repo rate quickly from 6.8% to the highest 8.3%, and the Shanghai Composite Index also accompanied by a sharp fall in interest rates, and eventually fell 0.52%.

Obviously, yesterday's market, the capital face is tense or not, the interest rate of borrowing directly affects a A shares of the ups and downs.

The long-term bulls are evacuating

At the Friday ventilation meeting, the SFC said there was no timetable for the initial public offering to be restarted. But investors cannot expect too much of it. IPO restart, must be the main board and the gem, which is supposed to be on the two plates of the bad. But from this week's trend, the representative of the weight of the performance of the 100 Index fell 4.2% this week, while the SME board and the gem fell 3.76% and 3.99% respectively, it is clear that the market is more worried about the weight of stocks.

From the position data disclosed by the gold, in Thursday A-share plunge in confidence a big increase in the period of the continued fall in yesterday's decline in the end of the divergence, which Guotai and Huatai Great Wall to reduce more than 1237 and 870 Zhang, although there are sea-pass futures and Guangdong futures each increased by 494 and 448 Zhang, However, the 5 large bulls total reduction of more than 1717 sheets; Fortunately, the Thursday plunge in the opening period refers to the short has not been the pursuit, 5 short total reduction of 368.