On October 8, the three major stock indexes opened higher, with the Shanghai Composite Index up 10.13%, the Shenzhen Component Index up 12.67%, and the ChiNext Index up 18.44%. More than 3,000 stocks rose by more than 10%, and nearly 1,000 stocks rose by the limit.
During the National Day holiday, although the A-share market is closed, in the context of the hot market before the holiday, all parties in the relevant market generally "do not take a holiday" to make full preparations for the opening of the market after the holiday.
On October 7, the last day of the National Day holiday, the Shanghai and Shenzhen stock exchanges opened a network-wide test in preparation for the opening of the market after the holiday. On October 6, the Shanghai Stock Exchange announced that it would extend the time for accepting designated transaction reporting orders.
On the evening of October 7, a number of brokerage APPs pushed a notice on the three-way transfer arrangement on October 8, and the time for many banks to support three-party transfer was greatly advanced, as early as 7:30.
During the long holiday, Hong Kong stocks performed strongly, with the Hang Seng Index rising 7.59% and the Hang Seng Tech Index rising 10% from October 2 to October 4.
Only 20 minutes after the opening, the turnover of the Shanghai and Shenzhen markets exceeded 1 trillion yuan, exceeding 260 billion yuan compared with yesterday (7th), refreshing the record of the fastest trillion yuan in history set on September 30.
Less than half an hour after the opening of the market, the trading volume of E Fund ChiNext ETF (159915) exceeded 15.6 billion yuan, exceeding the full-day trading volume of the previous trading day and setting a record for the single-day turnover in history.
The market is very good, the holiday ushered in the account opening boom, "the holiday does not close" has become the standard configuration of many brokerages, a number of brokerages 7 × 24 hours online review account opening, and provide all kinds of business authority opening and other services to meet the investment needs of customers during the holiday.
In the view of the Chen Guo team of China Securities Construction Investment, China has completed the bear-bull conversion, and the most important thing for investors at present is to change their thinking and face the market with a bull market mentality.
Chen Guo's team said that the current A-share market is ushering in a round of "confidence revaluation bull", which is a round of bull market under multiple backgrounds such as China's assets being systematically undervalued, the residential sector accumulating a large amount of excess savings and facing asset shortages, strong revitalization policies are about to be introduced, the Federal Reserve's interest rate cut cycle is about to begin, the global stock market is high, and foreign capital is chasing Chinese assets. This bull market will reflect a reappraisal of global funds' confidence in China's economic outlook and Chinese assets. The fundamental verification of this round of bull market takes time and will not be done in one step, investors should have confidence in the bull market in the early stage and be patient in the medium term.
While the stock market has risen sharply, some people in the industry have reminded that it is necessary to avoid blindly chasing high prices and reduce investment risks.
"During the National Day holiday, Hong Kong stocks, U.S. stocks, and Chinese concept stocks all rose sharply, injecting impetus into the opening of A-shares after the holiday. However, A-shares have risen too violently, and there may be a small high point in the near future, but it will not affect the continued bullish trend of the stock market in the later period. It is recommended that investors intervene at a low level during the shock stage to avoid chasing higher. Zhejiang Shengxi Asset Management Co., Ltd. fund manager Si Xuefeng said.
The executive director and general manager of a private equity fund said that A-shares have experienced a downturn for many years, and under the impetus of multiple favorable policies, they may come out of the continuous rising market. However, after continuous rises, A-shares have risen relatively high, or will enter a wide range of shocks, and the operation mode of selling high and buying low is more in line with the current market situation.
(Source: Dahe Finance Cube, News Network, etc.)