My Fintech Empire

Today, while the international short-selling counterattack caused the RMB exchange rate to depreciate again in the offshore market, the A-share market ushered in a rebound. It opened low and moved high throughout the day. The Shanghai Composite Index once opened low in the morning. Opened -2.56%, directly breaking through the 2900 point mark, returning to the 2800 point era.

It once caused panic, but after the opening, it opened lower and moved higher, closing with a sharp increase of +1.97%, returning to the 3,000-point mark.

The stock investors are basically in a state of deep trap, and most of them are forced to choose to lie down and pretend to be dead. The real people who are cutting the meat are obviously buried in some large funds in the foreign exchange market, and their bones and tendons are broken.

As a result, a scene that seemed very abnormal to investors occurred. Today, the RMB exchange rate against the U.S. dollar in the offshore market depreciated by more than 500 basis points at the highest intraday level, while the stock market opened lower and moved higher.

Because as soon as the RMB devalued in the foreign exchange market, those people stopped cutting meat and barely took a breath.

It just seems weird in the eyes of most investors, because under normal circumstances, the appreciation of the offshore RMB should be good for the stock market, and the depreciation should be bad for the stock market. As a result, the actual market situation is completely opposite to everyone's long-held beliefs.

However, after the A-share market closed, the foreign exchange market was still open. The RMB exchange rate against the U.S. dollar in the offshore market appreciated again and pulled back more than 240 basis points. They just took a breath and were hung up again. What they were looking forward to. The sharp depreciation of the offshore exchange rate was met with disappointment.

As a result, the funds holding stock assets in the A-share market could only cut their flesh again. The reaction to the market the next day was that the A-share market had just rebounded for one day, and then fell sharply again the next day.

The A-share market opened on Friday, January 15, and combined with the uncertainty of the weekend, the big A stocks that rebounded yesterday fell across the board again today.

The Shanghai Composite Index fell -3.55%, closing at 2900.97 points, and the 3000 point was broken down again, barely holding the 2900-point mark, with a turnover of 206.6 billion; the Shenzhen Composite Index fell -3.35%, closing at 9997.93 points, falling below the 10,000-point mark, with a turnover of 206.6 billion. 331.7 billion; the NSE 50 Index fell sharply -3.60%, closing at 834.98 points, with a turnover of 55.7 billion.

The total trading volume of the three major A-share trading markets is 594 billion. Judging from the trading volume, the market is continuing to shrink. This kind of trading volume can be compared with last year’s bull market, and is not even half of the trading volume of a single Shanghai stock index. It is deeply trapped. Most of the retail investors are basically lying flat and doing nothing, and they don't dare to invest in over-the-counter funds, so naturally they don't have much capacity.

However, while the market is falling this week, the IPOs of the SGX next door have no intention of stopping. This week is the second week since the market opened. This week, SGX listed 22 new stocks, which also made the SGX The stock pool has been expanded to 80 stocks.

Affected by the market's negative sentiment, the second batch of new stocks listed was not as strong as the first batch. On the day of listing, they all surged higher and fell and fluctuated lower, but they did not fall below the issue price.

Next week, the third batch of companies will continue to be listed, and they have already been reviewed. There are 26 new stocks registered and listed in the third batch.

The fourth batch of new stocks registered for listing have all been reviewed, with a total of 19 stocks, and more than half of the fifth batch of new stocks registered for listing have also passed review.

New stocks registered and listed on the SGX are calculated on a weekly basis. One batch will be released every week, and it will not stop this year.

Big A investors are also eye-opening. The listing speed of SGX is simply unimaginable. As of today, there are 59 new A-share stocks listed this year, of which SGX accounts for 58, and the main board only has 59 new stocks. One company was listed on the Shenzhen Stock Exchange.

At present, the market is continuing to fall. It can no longer hold 3,000 points, and even 2,900 points will be broken down at any time. The issuance of new shares registered and listed on the SGX next door is so fast, which also makes investors on the main board full of complaints. The market's trading volume is deteriorating and continues to pump blood.

To a certain extent, the dumpling-like listing efficiency of SGX does have an impact on the main board.

Because almost all accounts with a capital of more than one million go to the SGX to buy new stocks. At present, as long as you win the lottery, you are basically guaranteed to make money. This batch of new stocks registered and listed this week does not have the "Thirty-six Heavens" in the first week. Such a huge increase, but you can still earn dozens of points.

Even if the market continues to fall to new lows this week, these new stocks have not broken, and overall they are not losing money. Accounts with SGX authority will naturally not give up buying new stocks here.

The rapid listing of the SGX has also made the two major main board exchanges see it and feel anxious in their hearts. Thousands of companies behind them are lining up for IPO. They really want to go public, but now they are very worried about the market. At the beginning of the new year, The circuit breaker mechanism was put online a few days ago and it created such a big trap. Last year, it was said that no new shares would be issued below 4,000 points.

Seeing the registration, listing and issuance of new shares on the SGX next door at an extremely fast pace, in the eyes of the two major boards, this scene is like robbing themselves of their own money. I really want to call on ten or twenty companies to come up next week and start a fight with the SGX. A handful of IPO races.

But I was very annoyed because I couldn't find a suitable contract (jie) opportunity (kou). At the same time, I was very unhappy with the SGX, but I couldn't do anything with it, so I was very angry.

Many companies that want to go public to make money are enthused by the rapid listing efficiency of the SGX. They don't want to list on the SGX, but they don't dare!

Because the management team in charge of SGX is not from the same group as them, and they cannot enter the same door at all. There is no intricate relationship between the two parties, so the management team of SGX will not be jealous of them at all, let alone be afraid of them. .

Thinking of registering and listing on the SGX, of course you can, but you have to follow the express rules. What those companies that want to list for money are most afraid of is following the express rules, because their companies will not be able to be listed according to the express rules. , they know this better than anyone else. Shady things such as inflated profits and financial fraud may also be revealed when "breaking through" the SGX.

Therefore, even though they are keen on the high efficiency of registration and listing on the SGX, they dare not come.

And even if the initial "breakthrough" of the SGX is successful, there are still many hurdles waiting behind, with strict restrictions on the size of non-reduce holdings. Even if the three-year sales restriction period has passed, the reduction of holdings will be restricted in the first year. It is impossible. Reduce your holdings in one wave.

Regardless of the amount of non-illegal shareholding reductions, they will be directly subject to ST, and refinancing will be restricted for several years. If there are two consecutive illegal shareholding reductions or a one-time reduction of more than 2%, they will be directly and unconditionally forced to delist.

Even if you want to take the stock pledge route, you are still subject to restrictions. The maximum pledge ratio does not exceed 35%, which means that a stock with a market value of 100 million can be pledged for up to 35 million in cash, and the use and destination of this funds It must also be made clear and closely watched. There are annual reports every year and quarterly reports. Financial institutions need to know what you are doing with the money before they decide whether to pledge it to you.

In the eyes of those who want to go public and make money, this series of regulations of the SGX are all stumbling blocks that hinder them from making money and cashing out. If you pass one level, there will be another level. If you are not careful, you will directly GG. Related regulations The similar co-sitting mechanism will also offend a group of shareholders.

The listing efficiency of SGX is indeed fast, but there are really not many people with the mentality of making money who are willing to come. They must be able to break through the rush barriers set by SGX to cash out. If they really have the ability to go next door You can play back and forth several times, and there is no need to go to the SGX to break through.

…