The Beijing Stock Exchange 50 Index fell sharply, and more than 40 stocks on the Beijing Stock Exchange fell by more than 10%, how will the follow-up market be interpreted?

On November 28, the Beijing Stock Exchange 50 Index opened down 4.98%, and individual stocks collectively adjusted, with more than 30 stocks falling by more than 10% in auction. As of press time, the BSE 50 Index fell more than 5%.

More than 40 stocks such as Guangmai Technology and Hayi Pharmaceutical fell by more than 10%, and Dadi Electric, Weimao Electronics, and Chicheng shares rose against the market.

The Beijing Stock Exchange strengthened trading supervision, and two big bull stocks were suspended

The recent hot market of the Beijing Stock Exchange has attracted regulatory attention, and two recent big bull stocks, Zhisheng Information and Kaihua Materials, have issued announcements late yesterday night to suspend trading.

The Beijing Stock Exchange said that from November 20 to November 24, the Beijing Stock Exchange took a total of 93 self-regulatory measures such as verbal warnings, regulatory concerns, and warning letters for abnormal trading behaviors such as intraday lifting and suppression, large-amount declarations or continuous declarations at the price limit. Focus on monitoring the recent abnormal rise of "Kaihua Materials", "Zhisheng Information" and "Huayang Transmission", urge members to strengthen the management of customer trading behavior, and timely remind investors of relevant transaction risks. The Beijing Stock Exchange will continue to strengthen trading supervision and maintain the normal trading order of the market.

Zhisheng Information announced yesterday evening that the shareholder Langfang Jicai Xinyi Entrepreneurship Guidance Equity Investment Fund (Limited Partnership) has reduced its shareholding in the company by 1% in accordance with the shareholding reduction plan. Zhisheng information announcement, in view of the cumulative abnormal fluctuations since November 21 2 times, the stock price fluctuations are large, investors are more concerned, in order to safeguard the interests of investors, the company will verify the abnormal fluctuations in stock trading, apply for the suspension of the company's shares. After applying to the Beijing Stock Exchange, the company's shares will be suspended from November 28, 2023.

Kaihua materials announced last night that in view of the cumulative abnormal fluctuations since November 15 3 times, the stock price fluctuates greatly, the company will verify the abnormal fluctuations in stock trading, and apply for the suspension of the company's shares. After applying to the Beijing Stock Exchange, trading in the Company's shares will be suspended from November 28, 2023.

At the same time, Huayang Transmission, Kaihua Materials, Zhisheng Information, Jiahe Technology, Gaishi Food, Fuheng New Materials, Hujiang Materials, Huaxi Technology, Xun'an Technology, Chicheng Shares and many other stocks on the Beijing Stock Exchange issued stock trading risk warnings or abnormal fluctuation announcements, indicating that the closing price increase has deviated significantly.

In addition, for some media reports, the Beijing Stock Exchange asked major shareholders of listed companies not to reduce their holdings of the company's shares. The relevant person in charge of the Beijing Stock Exchange said that the above report was not true. There is no change in the spirit of the relevant guidelines issued by the Beijing Stock Exchange.

How to interpret the follow-up market?

For the follow-up trend, Song Zhenghao of Orient Securities told Yicai that the recent trading volume of the Beijing Stock Exchange has increased by more than ten times month-on-month, and there is a high probability of differentiation in the short term.

Huang Jian, an investment consultant at Bank of China Securities, told Yicai that the Beijing Stock Exchange 50 Index has become a gold-absorbing pool since this month, which is due to the "money-making effect" of active funds chasing the market, but after any market index rises rapidly, from a technical point of view, the indicator overbought needs to be repaired, and it is not appropriate to chase higher in the short term.

Lin Jiayi, general manager of Xuanjia Finance, said that the rise of the Beijing Stock Exchange stems from the rise and fall of the financing demand of the whole market, the temporary lack of financing function of the Hong Kong market, and the relative increase in the value of small water pipes on the Beijing Stock Exchange after the pace of IPOs in Shanghai and Shenzhen slowed down. However, the current rise is a short-term crowded transaction, and the liquidity brought by the policy is less and more uncertain for companies like the Beijing Stock Exchange, and it is expected that this rise will not be sustainable. Since last week, for the irrational behavior formed by this short-term high premium, the funds are usually priced quickly in the short term, and the market may enter the "more kill, more kill" and other killing stages after a week or two.

Liu Yan, an analyst at Southwest Securities, said that during the two-year anniversary window period of the establishment of the Beijing Stock Exchange, with the launch of the "920" code segment and the gradual inclusion of Beijing Stock Exchange securities in the CSI cross-market index system, all kinds of incremental funds will enter the market in the future, and the liquidity and valuation level of the Beijing Stock Exchange will be continuously repaired. It is recommended to pay attention to the three main lines of all-A high-barrier scarcity leader, Shanghai-Shenzhen concept linkage theme, and small giant in high-growth subdivisions, and grasp long-term investment opportunities.

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