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Financing customers increased their positions for 7 consecutive days, and the balance of 29 shares increased by more than 50%.
Securities TimesZhong Rong
Although the market volatility has intensified in recent trading days, the enthusiasm for leveraged funds to participate in the market has not diminished. The data shows that as of March 12, the total financing balance of the two cities increased by 8.856 billion yuan to 877.242 billion yuan, achieving a seven-month rise since March 2, and this balance also hit a new high of more than 7 months. For the on-site financing customers to continue to do a good job, the industry analysis believes that the financing balance is achieving a resilience growth, but the financing disk will help to increase the decline, especially the overall scale rose to a certain extent, if the market encounters short-term changes The pull-down effect has to be prevented.
Financing customers continue to increase positions
The balance of the two funds has steadily increased
With the large fluctuations in the A-share market, in the past few trading days, the funds in the north were mainly net outflows, while the two financing funds continued to flow in net, and the differences in the two funds continued.
According to the data, as of March 12, the total balance of the two cities was 886.224 billion yuan, accounting for 1.98% of the market value of A shares. The transaction volume of the two shares accounted for 10.29% of the turnover of A shares. The balance of financing for the day was 877.242 billion yuan, an increase of 10.17% over the financing balance on March 1. Among them, the amount of financing for the day was 115.252 billion yuan, the repayment amount was 106.396 billion yuan on the day, and the net purchase amount was 8.856 billion yuan.
After the Spring Festival, the A-share market experienced a four-week “upgrade” style, and the financing balance also rose steadily. It only decreased on March 1, and then climbed again on March 4, achieving seven more. Liansheng, hit a new high of more than 7 months since August last year.
In terms of industries, the most preferred option for financiers since March is the TMT sector. In the financing market, the net purchases of non-bank financial and computer industries totaled more than 10 billion yuan, respectively, of 14.3 billion yuan and 10.7 billion yuan. Followed by electronics, media, communications, pharmaceutical biology, real estate, and banks, the net purchase of financing exceeded 3 billion yuan, and there was no net sale of industry financing. If the proportion of leveraged funds to the proportion of turnover is measured, the proportion of leveraged funds, steel, non-bank finance, real estate, nonferrous metals, banks, and mining is a relatively high leverage of the industry since March, accounting for 10% of the total. %the above.
Zhongyuan SecuritiesStatistics show that the amount of financing inflows per week reached 58.8 billion in the previous week. This scale is also the highest since 2016, and the inflow volume in a single week has reached a deep development pattern after the beginning of the bull market in November 2014. Zhongyuan Securities believes that the current net purchase of financing accounts for about 10% of the total turnover, which is lower than the peak level of 2016~2018, which is about the early stage of the bull market in May-August 2014. Therefore, from a comprehensive perspective, the current changes in the balance of the two companies are more remediable. If the index continues to improve in the future, there is still room for further improvement.
March financing balance increased
The data shows that as of March 12,Ping An(Hong Kong stocks 02318),Industrial Bank,CITIC Securities(Hong Kong stocks 06030) financing balance of more than 10 billion yuan,BOE A,Minsheng Bank(Hong Kong stocks 01988),Oriental wealth,Guizhou MaotaiThe balance of financing for 20 stocks is among the top.
If the proportion of leveraged funds is measured by the ratio of the two trading transactions to the turnover,Mogao,COSCO Haike,Taihe Health,Leibo Technology,Chuangyuan Technology,Jianghe Group6 Only the current leveraged funds account for a relatively high proportion of funds, the proportion of leveraged funds reached more than 30%.
Statistics also show that a total of 29 stocks have increased their financing balance by more than 50% since March. among themHande informationAt the top of the list, the financing balance has increased by more than 1.14 times since March, and the financing balance accounted for 11.18% of the market capitalization ratio.Wen's shares,Guosen Securities,Taiji shares,Inspur informationThe financing balance has increased by more than 80%. It is worth mentioning that these stocks have risen very well this year, but yesterday they all fell sharply with the index.
The introduction of leveraged funds into the market is a topic of concern to the industry in the near future. It is reported that many fund-raising companies have also begun to publicize and promote the business with the banner of “low threshold and high leverage”. Compared with the fund-raising, the two companies are the compliance methods of individual investors and levers to participate in the stock market, and they are also the most important way.
Northeast SecuritiesRemind that there must be a clear understanding of margin trading. As a tool, margin financing and securities lending has its own two-sidedness, which may expand the income and expand the loss. It must measure its own risk tolerance, and must not neglect the risk because of profit.
Northeast Securities said that margin trading has the risks of market risk, market risk, default risk and system risk, as well as the unique risks of investment risk amplification due to its unique leverage. The risk of being forced to liquidate due to the settlement of the debts in accordance with the agreed time limit or the failure to replenish the collateral in full; and the adjustment of the securities scope of the margin financing and securities lending, suspension of trading or termination of listing may require the risk of economic losses in advance of the settlement of securities lending transactions. Wait.
Yingda Securities believes that the balance of financing is highly correlated with the trend of the index. In 2018, the market continued to fall, and the financing balance of the two cities steadily declined. They have fallen below the trillions of yuan, 900 billion yuan, and 800 billion yuan. The market's sharp adjustment in 2018 has greatly damaged the financing. Although the index rebounded from October 19th, the Shanghai and China's two cities' financing balances did not show much rebound. It is speculated that with the recovery of A-shares in 2019, the financing balance in 2019 may rebound slightly, but the repair of confidence is still It takes time.
Editor in charge: Fu Jianqing RF13564
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- Shanghai Stock Exchange: Dong Jiangao is not allowed to carry out its own stock financing and securities trading
- What should investors pay attention to when participating in margin trading?
- Pilot to regular exchanges revised margin trading rules
- SSE Securities and Margin Trading Implementation Rules Officially Released
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