Source: Brokerage China
Have the financiers entered the market?
As the A-share market has continued to rise sharply since September 24, investor sentiment has been ignited. According to a previous interview with a · securities firm China reporter from Securities Times, investors are actively opening accounts and queuing for review takes a long time. The above phenomenon is considered to be the possibility that incremental funds may be coming into the market.
Another signal of whether the market can rise further - leveraged funds, its entry has also attracted much attention. Securities Times · Securities China reporter noticed that a number of securities companies have successively promoted the two financial business, some of which also made it clear that there will be no vacation during the National Day, and the offline business department will normally handle the opening of the two financial accounts.
"In the past few years, the market has been sluggish, and it has been difficult for us to promote the two financial businesses; In the past week, the number of customers who have opened two financial accounts has increased significantly, and most of them have taken the initiative to come to them, and more people have consulted about the two financial institutions. A person from the business department of a small and medium-sized brokerage firm in North China said.
A person from the business department of a large brokerage firm in South China told reporters that the recent appointment for opening an account has been full, and investors will inevitably have to queue up to open the authority of the offline business department after the holiday, and it is expected that the queue will take a long time.
However, judging from the data, the early trading of leveraged funds may focus on the strategy of "quickly falling into the pocket". Before September 27, the scale of net financing inflows was small, or even net outflows. It is reported that the amount of financing purchases has exceeded 100 billion yuan for many consecutive days, but the amount of financing repayment in the same period is also hundreds of billions per day.
On September 27, the financing market showed obvious bullish sentiment, with a net purchase of more than 10 billion, becoming the largest single day this year, and it is worth tracking whether it can continue in the future. As of the 27th, the financing balance has not exceeded 1.4 trillion yuan. Some industry insiders expect that the net purchase of financing on September 30 may continue to hit a new high this year.
There is no holiday to open an account on the National Day
As the A-share market heats up, brokerages have begun to shout for opening an account in the two financial markets, and some investors have also expressed strong interest in it.
A "post-95" investor said that he plans to open a financial account after the National Day holiday to seize the opportunity of the market surge. The above-mentioned small and medium-sized brokerage business department in North China said that investors have recently come to open two financial accounts, and brokerages will actively seize the opportunity to promote the opening of two financial accounts in the future.
A person from the business department of a medium-sized brokerage firm in Shanghai said that before the National Day, there were existing customers who opened two financial accounts, and the number increased compared with before. There are also customers who come to increase the credit line of the two financial institutions.
The reporter noticed that a number of brokerages recently said that during the National Day, offline business departments can handle financial business. Some brokerages said that in terms of opening an account, investors still have to wait until after the National Day to complete all the procedures for opening an account and get a credit account.
On the first day of the National Day holiday (October 1), the Chinese reporter of Securities Times and securities · came to the business department of Ping An Securities Shennan East Road, and the two door-to-door customers of the business department randomly interviewed mainly came to handle the two-integration business and submitted the two-integration business review materials during the holiday.
Oriental Wealth Securities reminded investors to seize the time to open the two financial permissions, saying that during the National Day holiday (October 1-7), 146 business departments across the country were on duty normally. The brokerage said that this move is conducive to investors who travel to other places to handle the two financial business at the nearest business department.
Soochow Securities also said that at present, "it is the right time to open an account for the two financial institutions", and the company will not stop during the National Day. Guotai Junan Securities Shenzhen Branch said that all its business departments were open from October 1 to October 7, and could handle business including financial credit.
A number of securities firms have emphasized that the process has been optimized to facilitate the operation of investors and improve the efficiency of handling the two financial services. CITIC Securities said that it had launched the "Quick Account Opening for Margin Trading" function three years ago to reduce the waiting time of customers at the counter, make the complex handling process online and complete the precondition inspection of account opening.
Guohai Securities also said that it can first carry out a "pre-credit application" online to be one step ahead, and then go to the offline business department to complete the relevant procedures to open a credit account. Hualin Securities also recently said that the margin account has launched the "appointment account opening" function.
In addition, Guosen Securities, GF Securities, Shanxi Securities, Minmetals Securities, Chengtong Securities and other securities firms have recently begun to carry out investment education and publicity of "margin financing and securities lending", explaining the advantages, applicable scenarios and trading conditions of the two financial services.
Leveraged funds have gone from cautious to emotional
From September 24 to September 30, the continuous sharp rise in the A-share market was encouraging, but the data of the two financial institutions showed that the reaction of the early financing customers was different, and the sentiment began to rise on the 27th.
According to data from Oriental Wealth Choice, the single-day net financing purchase on September 27 only exceeded 10 billion yuan, reaching 18.533 billion yuan, becoming a new single-day high since the two financial data were available this year.
In the previous September 24-26, the net financing purchases were only 1.682 billion yuan, -152 million yuan, and 3.666 billion yuan respectively, and the corresponding Shanghai Index rose by 4.15%, 1.16, and 3.61% on the same day; The ChiNext index rose by 5.54%, 1.62% and 4.42% respectively.
Did the financier not increase leverage in time, or was there another reason? According to the data of Oriental Wealth Choice, from September 25th to 27th, the financing purchase exceeded 100 billion yuan for three consecutive days, which were 100.596 billion yuan, 107.987 billion yuan, and 151.799 billion yuan, while the average daily financing purchase amount was only 41.233 billion yuan before (September 1 to 23), showing that investors have been actively increasing leverage from 25 to 27.
But there was also a surge in financing repayments over the same period. From September 25 to 27, the financing repayment amount was 100.748 billion yuan, 104.321 billion yuan and 133.266 billion yuan respectively, which was also significantly increased compared with the average daily financing repayment (42.694 billion yuan) before (September 1 to 23). The above comparison of the amount of financing purchases and repayments shows that the early reaction of the financing customers to the market may choose to settle down after the rebound, or adopt short-term trading strategies.
As of September 27, the financing balance of the Shanghai, Shenzhen and Beijing markets was 1.38 trillion yuan, which was in the middle and low range since the beginning of this year. According to data from Oriental Wealth Choice, the financing balance in January this year has been above 1.5 trillion yuan for a long time.
However, as the sentiment of the A-share market further warms up on September 30, it is expected that the net purchase of financing on that day may reach a new high. It is reported that on the 30th, the Shanghai Composite Index rose 8.06%, the ChiNext Index rose 15.38%, and the turnover of the two cities exceeded 2 trillion yuan.
One detail reflects that the two financial transactions may be more hot on September 30. A large brokerage said that its two financial systems once had transaction congestion, and transaction confirmation was slow, but it soon returned to normal.
The person in charge of a large brokerage branch in Shenzhen said that there are indeed customers who have activated the two financial accounts in the near future, or "added bullets" to the two financial accounts. However, the person also warned of risks, saying that they should be wary of the risk of a correction after a rapid and sharp rise.
It is worth continuing to watch whether the data on September 30 can show further large-scale capital inflows.
What the financier buys
The layout of leveraged funds in the past week is a topic of concern to the market.
From the perspective of industry classification, "manufacturing" and "finance" are the sectors favored by financing customers. According to data from Oriental Wealth Choice, the net financing purchase of the above sectors reached 15.522 billion yuan from September 24 to 27. The performance of the "financial sector" followed closely behind, with a net purchase of 13.506 billion yuan. These two sectors have outperformed other sectors by a wide margin.
"Information transmission, software and information technology services" ranked third, ushering in a net purchase of 7.28 billion yuan of leveraged funds during the above period.
In terms of individual stocks, non-bank stocks are quite popular with financing customers. Wind data shows that financial stocks accounted for 4 of the top 10 stocks in terms of net financing purchases between September 24 and 27. Among them, Oriental Fortune and Ping An of China ranked in the forefront with 1.229 billion yuan and 1.225 billion yuan of net financing purchases respectively. CITIC Securities ranked fourth with 817 million yuan. Brokerage shadow stocks, Straight Flush, ranked tenth with 432 million yuan.
Wuliangye in the liquor sector ranked third with 895 million yuan. WuXi AppTec in the pharmaceutical sector ranked fifth with 802 million yuan. Vanke in the real estate sector ranked ninth with 454 million yuan.
Editor-in-charge: Wan Jianyi
Proofreading: Zhu Tianting
Copyright Notice
All original content on the platforms of the Securities Times shall not be reproduced by any unit or individual without written authorization. Our company reserves the right to pursue the legal responsibility of relevant actors.
转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes