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According to the data released by China Securities Journal before the end of October this year, the value of the stock market was over There are 12,079 accounts with a value of 100 million yuan, an increase of 1,010 from the end of last month. This is also the first time that the data has rebounded after four consecutive months of decline. However, judging from other data, in the rebound since October, not much OTC funds entered the market, and more of the game of stock funds.
According to data from China Securities Journal, there were 12,079 accounts with a stock market value of over 100 million yuan at the end of October, which has returned to the level at the end of July. Generally speaking, there are three possible reasons for the rebound in the data. One is the market rise, the second is the increase of stock funds, and the third is the entry of over-the-counter funds.
However, other relevant data show that the October rebound may be more of an over-the-counter capital game. First look at the bank-securities transfer data. According to the statistics of the Investor Protection Fund, the net outflow of bank-securities transfers in October was 143.5 billion yuan, continuing the net outflow from August to September.
Moreover, the stock margin does not seem to be bought. The margin balance at the end of October was 21203 trillion yuan, higher than the 1980.7 billion yuan at the end of September.
Secondly, the data released by the Fund Association on the 18th showed that the scale of public funds (stock hybrid funds) that invested in A shares was 2.56 trillion yuan in October, an increase of 253.9 billion yuan from September, an increase of 11% from the previous month. It is basically the same as the 10.80% increase in the Shanghai Stock Exchange Index in October, which means that the funds to enter the market from the fund channel are also very limited.
In October, one of the more obvious incremental funds is the two financing funds. At the end of October, the financing balance of the two cities was 1030.17 billion yuan, an increase of 126.12 billion yuan from the 904.05 billion yuan at the end of September. However, this incremental figure is not as good as the net outflow of margin for the month (143.5 billion).
However, since November, over-the-counter funds have begun to show signs of entry. Last week (November 9-13), a net inflow of securities margin was 35.1 billion yuan, ending two consecutive weeks of net outflow. In November, a total net inflow of 27.8 billion yuan. The balance of the two financings has also increased to 119.447 billion yuan on the 17th, an increase of 164.3 billion yuan from the end of October.
Shen Wan Hongyuan Strategy Analyst Wang Sheng believes that the current incremental capital is mainly It comes from asset allocation institutions such as bank asset management and insurance, and at the same time, it has driven private equity funds to break through neutral positions and continue to increase positions (a considerable number of private equity near the liquidation line seize deterministic opportunities to increase positions is an important reason). Incremental funds are relatively rational, and the willingness to chase high is not strong. Therefore, the current market characteristics are different from the market characteristics of public funds that tend to continue to increase their positions and strengthen the trend when they obtain incremental funds.
28,000 large households have returned to the stock market
Since June, the stock market has plummeted. Investors have no choice but to withdraw. A large number of large households worth tens of millions or even more than 100 million have faded out . Today, investors are on the way back again. Statistics from the China Securities Depository and Clearing Corporation show that compared with the end of September, the number of large households holding a stock market value of more than 5 million yuan increased by about 28,000, of which there were 397 more super large households with a market value of more than 100 million yuan.
The number of large households increased by 24% from the previous month
Entering October, the A-share market will end the monthly K-line with 4 consecutive Yin Situation, ushered in a long-lost rebound, China SettlementThe newly released October statistical monthly report shows that the average closing point of the Shanghai Composite Index that month was 3342.48 points, an increase of 214.48 points from the previous month, an increase of 6.86%, and the average closing point of the Shenzhen Composite Index was 1948.76 points, an increase of 13.76% from the previous month. The average daily trading volume and value of the Shanghai and Shenzhen stock exchanges both increased significantly. Among them, the average daily trading value of the Shanghai stock market increased by 34.25% from the previous month. The average daily turnover in Shenzhen Stock Exchange increased by 69.88% month-on-month.
The data also showed that in October, 1.0642 million new investors entered the market in the two cities. The asset scale of investor accounts turned from negative to positive month-on-month. The number of large and super large households with a market value of more than 5 million yuan has rebounded significantly.
According to the distribution of investor market value at the end of October, the number of large investors with a circulating market value of more than 5 million yuan has increased significantly. The number of individual investors ranging from 5 million to 10 million yuan is 90,722, and 4,393 are institutional investors; in the range of 10 million to 100 million yuan, there are 49,075 individual investors and 10,816 institutional investors; individual investors with more than 100 million yuan 3843 and 8,236 institutional investors. From the perspective of large investors who can represent the trend of retail investors, the total number of listed value of 5 million yuan that month reached 143,640. This data represents an increase of 27,841, or 24%, from 115,799 at the end of September.
Compared with September, the number of individual investor accounts in the market value range of 5 million yuan to 10 million yuan increased by 17,410, and the market value range of 10 million yuan to 100 million yuan increased by 10,034. Super large households with a market value of more than 100 million yuan This has increased by 397.
There are still 100,000 large households diving
According to the statistical reports of China Clearing in each month of this year, in May this year, the number of large and super large households in the two cities The number has reached its peak, and the number of accounts with a market value of more than 5 million yuan is as high as 238,770. The decline began in June, with the largest decline in July—the number of accounts with a market value of more than 5 million yuan plummeted from 209,656 at the end of June to 152,513 at the end of July. The decline reached 27% that month, and 57,143 super accounts disappeared.
In the following two months, the number of large households continued to decrease, with 125,472 at the end of August and 115,799 at the end of September. Based on this calculation, in the four months since June, as many as 122,971 super accounts have faded out of the stock market. Even with 143,640 in October, compared with the peak in May, the number of large accounts still differs by 95,130.
Market analysts believe that these big players may take the initiative to close their hands, or their market value may shrink and fall back to the middle. Although the market rebounded in October, the previous heavy losses left big investors with lingering fears, and most of the funds are still waiting to see.
QFII only opened one account in October
Compared with individual investors, institutional investors entered the market more hesitantly in October, the 46th consecutive There are QFIIs that have newly opened A-share accounts every month, and only one new account was opened in October.
ChinaClear's October statistics monthly report shows that the number of A-share accounts opened by institutions such as public placement, special account, private placement, QFII, RQFII, etc. all declined compared with September. Among them, the number of public fund account openings has been declining in the second half of the year. The number of newly opened accounts from July to October was 1,571, 1,201, 925, and 785, respectively. Although QFII has opened a new A-share account for 46 consecutive months, it only opened a new A-share account in the Shenzhen Stock Exchange in October, indicating that the account opening enthusiasm is not high. In addition, the Social Security Fund did not open new A-share accounts in October, 12 new RQFIIs, 34 new enterprise annuities, 49 new insurance, and 142 new trusts. (Beijing Youth Daily, Qi Yanbing)
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