Global stock markets are technology stocks continue to rise, but the only big A shares is soy sauce, liquor, milk and other large consumption continue to rise, and forty various sayings have also appeared. Technology stocks have fallen out of the bear market in recent times. This is a structural bear market under the index bull market. It has to be said that the willfulness of A-shares is indescribable.
On Wednesday, A-share technology stocks fell sharply again, attracting market attention and various discussions. The most eye-catching thing on Wednesday was the leading AI stock iFLYTEK . It began to plunge around 14:30. The transactions magnified sharply and the stock price quickly hit the limit. Although the limit was opened several times in the middle, the closing price was still hit the limit, with 16,500 orders closed, which was approximately 73 million yuan. In fact, there are quite a few technology stocks with the highest decline today.
从板块来看，安防服务、光刻机、半导体、大数据、氮化镓、操作系统、芯片等跌幅都在3%以上，光刻机板块有晶方科技、南大光电、上海新阳和捷捷微电跌幅超10%，大数据有德生科技、首都在线和鼎捷软件跌幅超10%。
Technology stocks fell for various reasons, mainly because large funds in the market are hoarded by large consumption and some new energy stocks that are grouped together. Individual stocks in other sectors have experienced structural liquidity crises. Not only are technology stocks falling, but also low-valuation stocks such as securities companies and some banks also fell terrible. At present, large funds are grouped together to keep warm, and trillions of yuan of funds are grouped together in stocks such as liquor and new energy. They are not afraid to raise the stock price unscrupulously, and they are unwilling to see the stock price fall. They can only continue to rise, sell, and cover and make a back-and-forth fluctuation. At the same time, in order to prevent market hot spots from switching, it is not ruled out that some funds deliberately suppress technology stocks and financial stocks. After a long period of sluggishness, investors' confidence collapses. As long as someone smashes the market, the market will sell at a panic, causing a stock price to plummet.
The market fund issuance is now very popular, but incremental funds either go south to Hong Kong stocks, speculating on Hong Kong technology stocks through group groups, such as Xiaomi, Tencent , Meituan, etc., or they take over high-priced group stocks without intervening in technology stocks and financial stocks. Therefore, non-mainstream group stocks such as technology stocks and financial stocks lack the attention of incremental funds, and have become bear stocks in the bull market. Since the beginning of this year, technology stocks with larger market value such as Shengyi Technology have fallen by about 25%, Pengding Holdings has also fallen by more than 20%, and Unigroup Guowei has also fallen by nearly 30%. Looking at the time, media statistics, among the technology stocks with a market value of more than 50 billion, the latest closing price compared with the high since 2020, 26 stocks have a drawdown of more than 20%, accounting for 55%.
Recently, the central bank's open market operations have also made the market quite worried. Although relevant parties emphasized that monetary policy will not make sharp turns, not making sharp turns does not mean no turns. As the Spring Festival approaches, the central bank has changed the traditional practice of large-scale liquidity in previous years, but has seen a liquidity recovery. Last week, the central bank recovered hundreds of billions of liquidity through the reverse repurchase operation. Last week, the reverse repurchase funds expired were 2 billion yuan, 80 billion yuan, 280 billion yuan, 250 billion yuan and 100 billion yuan. The central bank implemented reverse repurchase 2 billion yuan, 2 billion yuan, 180 billion yuan and 100 billion yuan, respectively, recovering about 430 billion yuan of funds, which brought about an increase in market capital interest rates. The weighted average interest rate of DR007 was 3.09%, higher than the policy interest rate level of 2.2%. On January 23, a total of 180 billion yuan of reverse repurchase expired, offsetting the central bank's 100 billion yuan reverse repurchase operation, with a net withdrawal of 80 billion yuan on the same day. The market originally expected that the central bank would carry out a 14-day reverse repurchase operation today, but it did not happen, and the market was very disappointed. There was a double kill in stocks and bonds, and the treasury bond market also plummeted, and the 10-year treasury bond yield returned to the level of above 3.22%. The rise in treasury bond interest rates means credit contraction, and the stock market has begun to kill valuations. The large consumption of institutions that are grouped together is protected by institutions, and the valuation has not yet arrived. Because technology stocks have weakened for a long time, once relatively high valuations are hit, they will be the first to be affected.
现在市场指数就依靠机构抱团股维持，在市场资金利率升高下，未来依然会有很多个股出现价值回归，就是机构抱团的新能源白酒恐怕也不能例外。
