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Weekend Highlights | The State Council plans to stipulate that local governments are not allowed to provide incentives for companies to go public; Securities firms: The low volume market may be due to "desensitization" to the numerator. How will A-shares perform after the volume shrinks?

2024-08-18

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Reporter Yang Jian, Editor Peng Shuiping

1. Breaking news

8moon17On July 1, 2013, in order to regulate the services related to the public issuance of stocks and improve the quality of listed companies, the Ministry of Justice, together with the Ministry of Finance and the China Securities Regulatory Commission, drafted the "Regulations of the State Council on Regulating the Services Provided by Intermediary Institutions for the Public Issuance of Stocks by Companies (Draft for Comments)". The draft for comments pointed out that if the local people's government violates the "Regulations" and rewards the issuer or intermediary institution, it shall be recovered, and the relevant authorities shall impose penalties on the responsible leaders and directly responsible persons in accordance with the law. Securities companies engaged in sponsorship business or accounting firms performing auditing business can charge service fees in stages according to the progress of the work, but whether to charge or how much to charge shall not be based on the results of the audit work or the results of the public issuance and listing of stocks.

(II) Latest analysis by securities firms

Huajin Securities: After the volume reductionAHow will the stock go?

1After extreme shrinkageAStocks are expected to rebound in the short term.2020Since 200010Sub-fullADaily turnover is less than5000100 million or the turnover rate is lower than0.85%Within three months after the extreme shrinkage,10Among the3Shock rebound,5First fall back to bottom out and then rebound,2First, the volume shrinks and then falls back to form a bottom.AThe core driving factors for the rebound of stocks are positive policies, improved economic fundamentals and loose liquidity. Whether it is a direct rebound or a rebound after a decline, there are major positive policies in place during the rebound. Secondly, the improvement of economic fundamentals is also the core driving factor for the rebound after the decline.AStocks tend to rebound after shrinking, otherwise they may fall again after rebounding, or fall back to bottom out until the fundamentals improve before rebounding. The easing of liquidity also has a positive effect on the rebound after shrinking.