Guo Shiliang: After Raising Interest Risk Again, Funds Still Do Not Want To Enter A Shares.

Where there is a continuous money making effect, where the money may go, this may be a true portrayal of the current domestic market, and this may also be the delay of funds in accelerating entry.

Important reasons.

However, one step further is that if the A share market can be reactivated and generate considerable profit making effects, the various funds and even a wide range of speculative funds will still quickly enter the A share market to meet their own asset appreciation needs.

However, faced with the tragic lessons of the previous stock market turmoil, the possibility of activating A shares once again is not high.

In the context of the continued decline in the A share market volatility, the daily turnover of the stock market can also further take a step further.

The US Federal Reserve keeps interest rates unchanged, and the risk of interest rate hike is postponed again, which has boosted the importance of the stock market, especially the stock market in emerging markets.

However, after the news of the US Federal Reserve's temporarily increasing interest rates was established, the A share market showed a trend of a sharp fall, and the Hong Kong stock market near us also showed significant signs of a sharp fall in the day.

In fact, the performance of the Hong Kong stock market is still within the expected range.

However, in recent months, the market performance has basically shown a unilateral rise, while the largest cumulative increase has reached 20%.

As for the A share market, in the recent period, the overall increase is not significant, and the overall volatility of the stock market is basically showing a downward trend.

In recent days, the A share market has also experienced a 14 year low of amplitude. The overall enthusiasm of investment in the stock market has declined significantly, and the money making effect has not been as good as before.

Looking back at the daily average trading volume level of the stock market in recent months, the total volume of the two cities can basically maintain at the level of 700 billion yuan in the early stage of the active stock market, and the scale of the two financial balances also shows a pattern of high water output and high ship.

However, up to now, although the operation of the two financial balances has shifted slightly, the recovery rate of the two financial balances is still slow, indicating that the new liquidity influx is not strong.

At the same time, the average daily turnover of the A share market is only 3 or 400 billion yuan, and the average daily volume has basically set up a very recent level of extreme volume.

For now, the AH share premium index is only 119.51, while the premium rate of A shares is higher than that of H-shares.

Perhaps, the continued downward trend of the AH share premium index is also rooted in the strong "opening" expectations of Shenzhen Hong Kong Tong, which will accelerate the trend of price difference between the two markets.

However, in view of the liquidity advantage of the A share market, it is still reasonable to maintain a moderate premium rate between the A and H-share markets, but with the increase of the premium rate,

The further decline of the premium index also reflects the arbitrage space of both market funds, which is also continuing to shrink. This, to a certain extent, slows down the willingness of funds to continue to "go south" and reduces the pressure on the diversion of funds from the south to the mainland market.

However, for the domestic stock market, it has not been able to effectively get rid of the "many private capital and less investment channels".

At the same time, for a lot of funds, it is more profitable, while in the A stock market, the effect of continuous money making is not significant, but it accelerates the flow of domestic liquidity and stimulates more funds to run in more profitable investment channels.

In addition, the current shortage of assets needs to be considered.

Obviously, under the background of asset shortage, high-quality assets are rare. In the A share market, some of the listed companies whose share structure is relatively dispersed and whose fundamentals are relatively good are undoubtedly vulnerable to many funds, especially those of some small and medium-sized venture capital institutions.

As a result, in the A stock market generally relatively high valuation of the environment, some high-quality blue chips, but has become part of the continuous capital stock, and even the important sign of placards.

However, for the recent venture capital fund's successive shares and even the raising of cards, it often belongs to the partial phenomenon, and does not essentially activate the money making effect of the entire A share market.

In addition, taking into account the funding of the national team

And even the high weight stock control phenomenon has reduced the activity of capital speculation to a certain extent, and improved the difficulty of investors' follow the trend.

In this regard, for the already weakened A share market, in fact, in the short term it is difficult to play a substantive role in activation, and local market speculation opportunities, it is difficult to fully activate the market impact.

It should be noted that the current domestic market has evolved from the previous era of universal speculation to the era of universal speculation.

Thus, under the influence of a series of highly leveraged speculation, the earning effect of some second tier real estate market, or the ability to maintain and increase the value of assets, are much higher than that of the stock market in the same period.

As a result, for profit driven funds, they are more willing to invest in such profitable investment channels to achieve the goal of maintaining and increasing their assets.

What's more, indirect profit is maximized by various means of speculation. However, behind its high speculation, there is a huge speculative risk. In fact, it is a very aggressive way of speculation.