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Every Wang Haizhen reporter, edited all Xie Xin
Some old investors are still reminiscent of it many years ago, the first day of the list of IPOs were unlimited, and there were many stocks on the market that broke the first day of the list. However, from the first day of the IPO there was a limit on the first day of trading and new shares were triggered on the first day. The situation has largely disappeared and replaces the "daily limit per page".
However, or in the near future, the so-called "unexpected events" will be replaced by more market-based performance.
On January 12, Fang Xinghai, vice president of the China Securities Regulatory Committee, said at the 23th Forum of the Chinese Capital Market forum that it had a 44% limit on the first day of the IPO, with prices rising 44% on the first day. There was no trade volume. The price of the transaction volume is an excitement and an exact price. "He believes that artificial restrictions are not irrational prices and there is no trading volume in recent days, which is quite reasonable." I will look at the first day of the day. I think that it must be canceled. "
Fang Xinghai's statement now directs changes to the status of new shares transactions after the list and after the themed system. This afternoon, Volcano (Public WeChat Number: huoshan5188) was interviewed by senior managers and experts and scholars during this afternoon.
Some of the capital market scholars believe that it is uncommon for shares A to be the limit of 44% for the first day of the IPO list. It is uncommon to exceed the limit on the first day of the IPO list, to create real market bargaining and genuine price signals.
Set the list first and foremost to restrict the focus
Fang Xinghai, Vice-President of the China Securities Regulatory Commission, held a lecture on the 23rd Chinese Capital Market Forum. He analyzed issues of science, science and technology, as well as foreign capital issues.
In addition, the market is particularly concerned that the content related to the issuance of new shares has been mentioned. Fang Xinghai said in the forums that on the first day of the day, the 44% limit is on the daily border. The first day, prices have risen by 44%. There is no trading volume. "The commercial volume is a price for the commercial price that is illusory and inaccurate". He believes that artificial reductions show that prices are not irrational and that there are no trading volumes in recent days, which is quite reasonable. "I will look at the first day of the day. I think that it should be canceled."
According to Eastern Fortune statistics, from January 24, 2014, it listed the birds at the 43.96% day. Over the next five years, the first day of the first growth, the first day of more than 1,000 shares was almost 44%.
According to Volcano Jun (WeChat Public Number: huoshan5188), the first day of the IPO list was created from the reform of the new quota issuance system begun at the end of 2013 to the end of the 44% limit. At the beginning of the system, some analysts believe that the rise in the stock market and the first day of decline is taking place in the first day of IPO on the first day of the day.
Restrictions restrictions are the price constraints
According to East Fortune Choice data statistics, new merchandise designated in 2014, can be described as the market performance in the first day of the list. For example, on October 9, 2012, Luoyang molybdenum, on October 9, 2012, increased by 221%. Haixin Food, two days later, after the public, broke the first day and fell by 8%. During the 2012 financial year almost 40 shares were listed on the first day.
Market participants have stated that the first day of the IPO list performance is linked to the market bulls and bears. New shares of the first day of the day could be one of the characteristics of the fastest market. In recent years, unless the stock indices change, new shares can always be invincible.
Fang Xinghai, Vice Chancellor of the China Securities Regulatory Commission, Volcano Jun (Public WeChat Number: huoshan5188) has interviewed some senior experts and experts on the field this afternoon.
Dong Dengxin, director of the Science and Technology Leadership at the University of Wuhan, believes it is strange that it is a 44% share limit on IPO's first day. On the first day, although IPO does not exceed the daily limit, the market will create real transactions. A real price signal is formed.
It should be noted that in recent years, "new shares exchanges", the use of hot money is a rapid trading channel to buy new shares that appear on the daily frontier, and it also contributed to the spread of new stocks.
Dong Dengxin's volcano stated that the IPO's constant constraints were on the list, and both organizations were a subsidized psychological suggestion that was virtually unchanged. In general, they are hyperactive, but retailers are finally selling. For this reason, this reduction does not protect small and medium-sized investments, but it is subject to speculation.
In an interview with Volcano Jun, the senior management of insurance companies said the first day of the IPO list should be abolished. "The daily limit on the first day of the IPO list does not make sense, as well as price distortion, as retail investors continue to exceed their daily limit. The stock price has reached the highest point." He believes that the first day rise and fall limits are due to the IPO to mitigate the future problem is expected
Dong Dengxin also noted the volcano, retail investors are advised to cancel the "leak cutting" in new shares as the "limit price" is expected to be canceled as soon as possible on the first day of the IPO list, and also a "T + 0" operation should be submitted to the IPO list On the first day, the second trading day will become normal. "
Fang Xinghai: It is proposed to cancel the daily limit of the new shares. This year, more than 600 million foreign capital will be A.
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