In the current weak market environment, the financing balance of the A-share market continues to decline.
Financing balance fell below 800 billion yuan
As of October 12, the financing balance of the Shanghai Stock Exchange was 482.668 billion yuan, a decrease of 6.694 billion yuan from the previous trading day; the financing balance of the Shenzhen Stock Exchange was 310.402 billion yuan, a decrease of 5.884 billion yuan from the previous trading day. yuan; the two cities totaled 793.07 billion yuan, a decrease of 12.578 billion yuan from the previous trading day. The financing balance of the two cities fell below 800 billion yuan, hitting a new low since November 25, 2014.
In terms of industries, all 28 first-level industries of Shenwan were net sold by financing. The top five net sales of financing were computers, electronics, non-ferrous metals, non-bank finance and real estate, with net sales of 10.49 each. billion, 860 million yuan, 844 million yuan, 792 million yuan, 748 million yuan.
Since the daily volume of
hit more than 2 trillion in June 2015, the balance of A-share financing has basically fluctuated and declined. Affected by multiple factors such as the stock index's further decline, de-leveraging and strong supervision, this year's financing balance has further fallen.
However, due to the decline in stock indexes, the circulating market value of the two cities has shrunk. As of October 12, the financing balance of the two cities accounted for more than 2% of the circulating market value.
The financing balance fell sharply on the day of the big drop.
As the Shanghai Composite Index gapped and fell, the financing balance on October 11 and 12 fell by 14.076 billion yuan and 12.578 billion yuan respectively from the previous trading day. The total decline in the two days was more than 26 billion yuan. .
According to statistics, this is the first time since 2018 that the financing balance has dropped by more than 10 billion yuan for two consecutive days. However, it is not uncommon for the single-day financing balance to fall by more than 10 billion yuan, which mainly occurs on the day of the big drop:
6 19, the financing balance fell by 21.509 billion yuan, and the Shanghai Composite Index jumped 3.78% that day;
3 March 23 On February 9, the financing balance fell by 16.501 billion yuan, and the Shanghai Composite Index jumped by 3.39%. On February 9, the financing balance fell by 18.001 billion yuan, and the Shanghai Composite Index jumped by 4.05%. On February 6, the financing balance fell by 4.05%. 16.247 billion yuan, and the Shanghai Composite Index fell 3.35% that day.
In addition, on February 14 (the last trading day before the Spring Festival), due to the long holiday, the financing balance of the two cities also plummeted by 13.561 billion yuan.
Overall, the sharp decline in financing balance this year is closely related to the performance of market indexes. At several points when the Shanghai Composite Index fell sharply, financing funds usually flowed out significantly that day. While the financing balance is declining, financing transactions are still active. Taking October 11th and 12th as an example, the single-day financing purchase amount in these two days was more than 20 billion yuan. However, the financing repayment amount on that day was higher. They were as high as 40.726 billion yuan and 33.791 billion yuan respectively, resulting in a downward trend in financing balance.
The financing balance of 8 stocks accounts for more than 20% of the circulating market value
While the overall financing balance of the two cities continues to decline, there are still some stocks that are still favored by financing customers.
data shows that Pegasus International, SINOMACH, and Changchun High-tech are the top three stocks with the fastest rising financing balance in the past week. Their stock prices have all fallen sharply recently, and it is not ruled out that some leveraged funds take the opportunity to buy the bottom.
It is worth noting that today the Shanghai Stock Exchange issued an announcement on the risk warning of financing transactions for Dr. Peng and Axiata Holdings . The financing monitoring indicators of these two stocks both reached more than 20%. According to regulations, when the financing monitoring indicator of a single stock reaches 25%, the exchange can suspend its financing purchases on the next trading day.
According to Wind data statistics, there are 8 stocks with financing balance accounting for more than 20% of the circulating market value, namely Quanchai Power, Mengcao Ecology, Digital Technology, and Jia Shares , Hengtai Aipu, Dr. Peng, Axiata Holdings, DTV Media.
Generally speaking, the proportion of individual stocks’ financing balance is relatively high, which means that the degree of leverage of their settled funds is higher, which has a certain effect on the rise and fall of stock prices. Once the subsequent stock price drops sharply, it may trigger a wave of financing repayments. In the short term, There is greater pressure to continue downwards.
This article is from the Securities Times
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