The Shanghai Composite Index fell 268 points, or 8.84%, to 277 1, the biggest drop in history, with a turnover of131600 million yuan. The Shenzhen Component Index closed at 7790 points, down 797 points, or 9.29%, with a turnover of 68.7 billion yuan. Both cities recorded the biggest one-day decline in history.
On the surface, the number of rising families is only about 10%. ST, low prices and other performances were relatively stable throughout the day, while education media, transportation and logistics, high prices, heavy fund positions, automobiles and the broader market showed a deep decline, especially in the education media sector. In terms of specific stocks, in addition to previous strong varieties such as Zoomlion (market information), CITIC Securities (market information) and Gannan Fruit Industry (market information), low-priced stocks such as Shanghai Airlines, Shanghai Jiubai, Tianjin Ye Quan (market information) and Nong Xin Development (market information) are also in the forefront of decline, with nearly 1 10,000 households falling. On the whole, after the market hit a new high, there was a sharp decline in trading volume, so investors should be cautious in their operations.
Combined with the news, Jiangnan Securities believes that the central bank's increase in the deposit reserve ratio is obviously an important measure to recover excess liquidity funds. However, on the first trading day after the bull market and the Lunar New Year in China, it was rare that both Shanghai and Shenzhen stock markets closed yesterday with a daily limit of more than 200 stocks, under the good expectation that everyone would win a good lottery. In fact, behind the bustling market, careful investors should find that the sharp decline of banks and real estate stocks, which are greatly affected by the increase in the deposit reserve ratio, and the decline of stocks held by funds in heavy positions all hide the mystery of the market. Raising the deposit reserve ratio is bad for the stock market and it is impossible to turn the stock market into a bull market. It's just whether the time reflected by the market lags behind.
In addition, this bull market, which started at the end of 2005, has tripled after more than a year of romance. Therefore, it is natural that the long-short deviation around the 3000 points (market information) of the Shanghai Composite Index will increase. No matter what the purpose is, it will not happen overnight. As a small and medium-sized investor, it is natural to wait and see for a while.