boyutpedia Chapter 1255 [The market is frightened again, is this a clearance sale? ]
Chapter 1255 [The market is frightened again, is this a clearance sale? ]
Chapter 1255 [The market is frightened again, is this a clearance sale? ]
That afternoon, we stayed in the villa quietly.
Tian Jiayi handed Fang Hong a document and said, "Chen Yu's internal meeting with a group of domestic and foreign manufacturers has ended. This is the minutes of the meeting. It is said that the meeting was very exciting. Chen Yu made the foreign manufacturers lose their temper at the meeting. The result of the meeting was also very successful. A group of domestic company CEOs expressed on the spot that they would fully transform and move closer to the MHAC ecosystem."
Fang Hong took the meeting minutes and looked through them. After a while, a smile appeared on his face. He stared at the materials and said with satisfaction: "This kid really suits my temper. He has a good level of control and a good sense of proportion. He is a rare talent."
Seeing that he was not stingy with his boasting and affirmation of Chen Yu, Tian Jiayi couldn't help but ask curiously: "From what you said, do you intend to train him, send him to the Qunxing board of directors in the future, or even let him take over from you?"
Fang Hong was speechless for a while after hearing this. He rolled his eyes at her, shook his head and laughed: "Only you dare to say such things in front of me without any worries."
The beautiful assistant who had reacted changed her mind and couldn't help but giggle, and then said: "Oh, I almost forgot, you are younger than Chen Yu. When you really need someone to take over your job, it won't be his turn. Maybe he will retire before you..."
Tian Jiayi approached Fang Hong and said playfully, "I know I was wrong. So you can punish me by making me help you clear out your inventory!"
"You call this a punishment? It's clearly a reward. You have a good plan." Fang Hong glanced at her, then looked away and continued, "Chen Yu is a scientific and technological talent. His main focus is on technological breakthroughs. This is the key point. Promoting him to the Qunxing board of directors will only distract him. Besides, we have many talented people under our command. We are not at a point where there is no one available."
At this moment, the beautiful assistant no longer paid any attention to Fang Hong and forced him to clear out his stock, which immediately gave him a headache. Fang Hong had no choice but to clear out his stock first.
After a long while, Fang Hong asked, "How are the arrangements for the adjustment of the second round of share reduction announcement of the Wealth Fund going?"
Tian Jiayi in his arms heard his question and answered lazily with his eyes closed: "It has been arranged long ago. According to your latest request, the second round of share reduction announcement will be adjusted from May 5 to Wednesday, May 2. It is expected to cash out about 5 billion."
As soon as she finished speaking, Fang Hong suddenly turned over.
Tian Jiayi: "Come again?"
Fang Hong: "Are you coming?"
Tian Jiayi: "Come on."
Fang Hong: "Are you here?"
Tian Jiayi: “Here I come.”
Fang Hong: "Come together."
……
It is May now. The May Day holiday is excluding the weekend, and May 5nd is a working day. Xingyu Technology also announced the specific date of its summer new product launch conference on the first working day after the holiday, which is Tuesday, May 2th.
This press conference has been in the works for some time and is attracting much attention and expectations from all parties.
At the same time, the A-share market further declined after the holiday, because 15 trading days had passed since the wealth fund issued a reduction announcement, and it began to reduce its holdings in the secondary market as planned, and the market began to come under pressure.
The Xinzheng 50 Index also experienced five consecutive declines, but the overall decline was smaller than the previous four consecutive declines, because the market had already expected it and knew about it, and at this time there were market makers such as Zhongtai Capital supporting the market.
五天时间新证50指数的跌幅分别是-0.36%、-0.57%、-0.40%、-1.04和-0.86%，跌幅虽然不大，但依然跌破了前期低点，并且再度跌破了2200关口，下探至2188.45点。
The next day, Tuesday, May 5, the Xinzheng 9 Index stopped its five-day losing streak and rebounded +50% on the day to close at 0.77 points, regaining the 2205.37-point mark again. There were also signs of stabilization on the market.
At the opening of Wednesday, May 5, the New Securities 10 Index opened flat and fluctuated narrowly in the morning, and then slowly climbed higher. Signs of stabilization after the second bottoming out became increasingly obvious. In the afternoon, Xingyu Technology saw some unusual movements, with funds intervening in the stock, which also drove the New Securities 50 Index to climb.
There are five days left before Xingyu Technology's summer press conference. Short-term funds have begun to ambush. There will definitely be a big rise on the day of the press conference, and at least one surge is inevitable. Therefore, some funds are ambushing in advance to take the lead and prepare to sell on the day of the press conference.
Just as Xingyu Technology was driving the NXING 50 Index to fluctuate upward, at around 14:36 in the closing session, Fortune Fund issued a latest reduction announcement, reducing its holdings in Xingyu Technology, Toutiao, Xinwei Semiconductor and other targets by no more than 2.2% of the total share capital, with an estimated total reduction of RMB 8000 billion.
Investors from all walks of life were dumbfounded. A month ago, the wealth fund announced a reduction of one trillion yuan in holdings. Before that, it reduced its holdings by about 2000 billion yuan. Now it has reduced its holdings by another 8000 billion yuan. The total scale of funds is 2 trillion yuan. The scale of funds raised in the first phase of the fund pool is 2 trillion yuan. This is a direct cash out of the principal.
Is this the rhythm of a clearance sale?
As soon as the news came out, the three major A-share trading markets were shocked and collapsed again, and the three major indexes plunged in the late trading.
The New Securities 50 Index, which had already reached its limit of stopping the decline and stabilizing, plummeted and turned green. Xingyu Technology, which was "turned over" by the announcement of the wealth fund's share reduction, also turned green and staged a waterfall kill, diving straight towards the limit down.
After the closing, the SSE 50 Index fell -1.71% to 2167.55 points. It not only fell below the 2200 point mark again but also fell further to create a recent low. If it had not closed, the decline would have been much more than this.
Xingyu Technology also plunged -8.71%, and its market value evaporated by more than 5000 billion in one day.
Everyone was dumbfounded. What was the wealth fund trying to do? Was it selling off its shares so drastically to sell off its shares and run away?
The pace is also getting faster and faster at this time, and the panic in the market is also amplifying.
On the next day, Thursday, May 5, when the SGX market opened, the SGX 11 Index opened at 50 points, a sharp drop of -2130.03%. Listed companies such as Xingyu Technology that appeared on the list of share reduction announcements also opened sharply lower.
After the opening, the market opened low and continued to fall. The decline of the New Securities 50 Index quickly expanded to 2 percentage points and was still falling further, while the decline of Xingyu Technology also quickly expanded to 5 percentage points, and its market value fell below the 5 trillion mark.
The entire market was in a panic and stampede. Some people who had been lying in ambush at Xingyu Technology and waiting to sell on the day of the press conference were also confused. They had wanted to make a short-term profit from the interest rate difference but did not expect to encounter such a sudden negative impact.
At this moment, Fang Hong was also watching the market. Not long after, Tian Jiayi at the Qunxing headquarters called him and said, "The decline of the New Securities 50 Index from its historical high has exceeded 12 percentage points, which has entered the decline range you expected. Do you want to let the stabilization fund come forward to support the market?"
Fang Hong, staring at the New Securities 50 Index, shook his head and said, "Wait a minute. I'll send a Weibo post later. If the market doesn't buy it, the Stabilization Fund will make another move. Tell them to wait for my news at any time."
Tian Jiayi: "Okay, I'll go notify the trader of the stabilization fund."
The 8000 billion yuan reduction announced by the Wealth Fund yesterday will bring huge selling pressure to the market when it is officially reduced after 15 trading days. If the Stabilization Fund directly takes action at this time, there will be expectations of double selling pressure. If the Stabilization Fund is asked to take action again, it will cost about twice as much liquidity.
If the market could be stabilized with just one Weibo post, that would be the most cost-effective and best thing to do.
……
(End of this chapter)