On April 23, the A-share market continued to enter the pace of adjustment, and after three consecutive weeks of shock adjustment, the market seemed to be weak. Under this, the A stock market in the past two days also appeared a large number of hot topic stocks fell, individual stocks staged the phenomenon of the sky floor also increased all of a sudden.
It is surprising that the turnover rate of many stocks in the A-share market has also been magnified recently, especially today, a company namedThe daily turnover rate of Yongguan New Materials (603681.SH) secondary new stock company is as high as 80.11%, that is to say, 80% of the shares of this stock have completely changed hands in one day!
The reverse turnover rate under the Terror 1 system is more than 80% at the highest.
In the A-share market, the trading volume of more than 20% of the trading volume is generally very large, but recently, the daily turnover rate in the A-share market is more than 30%, or even the highest turnover rate is more than 80%. In the eyes of people in the industry, this is a total adverse trading volume!
Gronghui inquired about wind data and found that today, in addition to Yongguan new materials,In addition, 35 A-share companies have a daily turnover rate of more than 20%. For example, the daily turnover rate of Chunxing Seiko (002547.SZ) is as high as 53.2%, and that of 300743.SZ is 46.48%.More than 10 companies, including 002846.SZ, 601066.SH, 002828.SZ, 600175.SH and 000159.SZ, all had a turnover rate of more than 30 per cent.
(photo source: wind)
The market shows that Chunxing Seiko is also one of the hot topic stocks with the highest turnover rate among unsustainable stocks in the near future. the company recently achieved six consecutive trading limits due to speculation in the 5G concept, and began to ship with hot money pulling stock prices after opening slightly higher today. by the end of the day, it was hit on the falling limit board, with an average daily amplitude of more than 15%.Countless retail investors who bought in in the morning lost more than 10% of their paper directly.
(source: Futu Securities)
How high is the current turnover rate in the A-share market? this can be compared from the same-day turnover rate in the Hong Kong stock market and the US stock market.
In the Hong Kong stock market with the Tilo trading system, of all the Hong Kong stocks today, only 10 stocks have a turnover rate of more than 3%, only 3 stocks have a turnover rate of more than 10%, and the highest Guosheng Investment (1227.HK) is only 13.87%. Compared with the A-share market, this level has been thrown out of the top 100!
(photo source: wind)
And the US stock market, which is also the Tunable 0 trading system.Take the most actively traded NASDAQ market as an example, the highest turnover rate in the US stock market is often some really small unknown companies, as well as newly listed companies will have a higher turnover rate. In the NASDAQ stock market on the evening of the 22nd.Excluding a small company under the symbol MBRX (with a market capitalization of only $50 million before the rally), the turnover rate of the new cancer drug theme was as high as 300%, while the turnover rate of the remaining 11 stocks was more than 20%.And most of them are companies with very small market capitalization (except for the newly listed ZOOM VID with a market capitalization of US $16.8 billion), and the overall number and turnover rate are actually significantly lower than that of the A-share market.
(photo source: wind)
Who changes hands frequently behind his back?
Data showAmong the ultra-high turnover stocks in the recent A-share market, the vast majority are newly listed stocks, especially the recent hot concept stocks.
Such as Yongguan New Materials Company mentioned above, the company mainly produces all kinds of industrial tape, packaging and decoration printing and other products, while the products are mainly exported overseas. 2% of the business income in 2018 comes from overseas markets.
The company officially entered A shares on March 26 this year. After nine consecutive boards, the company lost the trading limit for the first time, and walked out of the volatile market on the same day and since then, accompanied by a daily turnover rate of more than 40%. During this period, there have been a number of first-tier hot money institutions.
(source: Futu Securities)
According to the company's prospectus, the company achieved revenue of 1.701 billion yuan and net profit of 131 million yuan in 2018. At the same time, according to the company's latest performance forecast, it is expected to report a net profit of 22.6 million yuan to 24.7 million yuan in the first quarter, an increase of 0.3% to 9.62%, and basic earnings per share of 0.14 yuan to 0.15 yuan. Judging from the company's performance, the company is only average in terms of business and operating performance. therefore,The company's popularity in the market is more due to being tossed back and forth by hot-funded institutions.
Not only this, but in the abnormal trading departments of almost all the hot companies recently hyped, such as Meijin Energy, International Industry, Hongyang Energy, Quan Chai Power, Chunxing Seiko and so on, there have been a variety of hot hot floating capital institutions familiar to market investors, including the business department of Lhasa Unity Road, the most radical Tibet Oriental Fortune Securities Co., Ltd. In the past two years. CITIC Shanghai Mudanjiang Road Business Department, China Galaxy Securities Shaoxing Business Department, Guotai Junan Shanghai Shang Road Business Department, Zhongtai Securities Shenzhen Branch, Everbright Securities Ningbo Jiefang South Road Business Department and other popular hot money business departments.
(photo source: wind)
According to industry insiders, since April, the A-share market has entered an obvious box shock market after experiencing a retaliatory rise in the first two months, and the market has returned to rationality after collective excitement. Some concept stocks that have been overheated in the short term are likely to fall with the flight of hot money, and the recent increase in the number of sudden floor is a big signal. In fact, the short-term increase of the shares of the vast majority of listed companies in the near future is obviously too high, while the corresponding 2018 performance and the performance of the first quarter has not been reversed much, and even many continue to lose money or even explode.
therefore,The recent concept of speculation in the stock market is bound to be unsustainable, and recently regulators have made it clear that it is necessary to rectify the phenomenon of over-the-counter capital allocation and remind listed companies of the behavior of special hot spots, which to a certain extent means that the wind of speculation in the market is expected to be curbed, so the overall market continues to withdraw and digest should be the most likely trend for the next period of time.
In addition, it is worth mentioning that from the recent flow of the main funds in the A-share market, the main funds that can best represent the direction of the market are indeed showing a state of net outflow for many days.
Gelonghui query wind data discoveryOver the past 5 days, the main capital of the A-share wind first-tier industry has been showing a large-scale net outflow, none of which is a net inflow. Among them, the largest net outflow included the capital goods industry, the materials industry, the technical hardware and equipment industry, and the software and service industry, all of which exceeded 15 billion yuan, while the main net outflow of many other industries also exceeded 5 billion yuan.
(source: wind)
Only large consumption and large financial sectors are still relatively stable, with only a small capital outflow, of which the least net outflow is the retail of food and major supplies. Data show that the net inflow of the main force in the past five days is only about 240 million yuan. According to industry insiders, the food consumption industry has remained strong mainly due to the continued speculation in the pork and chicken sectors caused by the spread of the African classical swine fever incident in the past two months. However, from the perspective of stock price performance and the impact of actual performance, this wave of pork and chicken stocks are obviously too high, in the future pig prices will eventually return to the fundamentals.