The First Day Of The New Share Gains Is Getting Higher And Higher.

Yesterday, the speculation continued to be crazy, three.

The speculation of new shares was crazy on Wednesday.

On Wednesday, 263 of small and medium-sized board shares, Aidi, 3D engineering and Jin Zhengda landed in the A share market.

Edisi issued a price of 12.50 yuan, opened up to 30 yuan, the share price doubled.

Despite the big green market shock, Aidi has been strong, afternoon intraday gain more than the opening price of 20%, was temporarily suspended by the Shenzhen Stock Exchange.

But after the resumption of trading, the rally was more intense, and the end of the market continued to soar. At the close, Aidi reported 41.88 yuan, more than the issue price.

In fact, the new shares were not new. In July 2009, Chengdu Chongqing listed the highest increase of more than 300%. In the two trading days of the market, the closing price of the company rose by 202.8%.

The first batch of 28 GEM stocks listed on the market in October 31, 2009, the average increase of 106% on the first day, and the highest N gold Asia rose by 209.73%, while the smallest increase N southerly wind also had a 75.84% increase. 28 stocks were temporarily suspended in the market, of which 19 stocks were suspended for two times, while N gold Asia suspended for three times.

However, with the marketization of IPO, many new shares have broken down, and the market's new speculation has been convergent. In July, the average increase in the first day of new shares was only 23.27%.

However, after entering the August, the new stocks have once again become a hot spot in the market. The first day of the new shares has been increasing continuously, and the average first day growth of the new shares has expanded to 74.96% in August. As of yesterday, the average first day growth of the new shares in September has exceeded 90%.

Institutional funds to fight new enthusiasm

The increase in new shares has made the market continue to raise new returns.

Edisi's online New Year's yield reached 118.28%, and the other three new stocks reached an average of 70%.

Judging from the overall trend of the new rate of return, the average market hit rate in July was 16.12%, and in August it averaged 53.68%. In September, the average yield was more than 60.29%.

The new enthusiasm of institutional funds is also a reason for the speculation of new shares.

263 The results of the offline distribution show that more than 10 partial stock funds are on the placing list, which also includes the Huaxia Fund's Wang Yawei managed Chinese market and China Strategy Fund. Wang Yawei has a total of 263 1 million 910 thousand shares. In addition, the 1 of the Wells Fargo fund's bond accounts "one to many" also appeared in the list. "Wells Fargo Fund - Everbright rich country enhanced Return Bond Asset Management Plan" was allocated 870 thousand shares.

The information disclosed by St. Leda also shows that the fund company has great interest in participating in the placement of the new stock network. Apart from the participation of more partial public fund products, the 6 accounts of the Merchants Fund "one to many" have also appeared in the list of the allocation agencies, and the total number of shares allocated to them is 110 thousand shares.

The chief research officer of the harvest fund, cashmere research fund manager Dang Kai Yu, once known as "the most profitable female fund manager", became the director of the investment department of the Harvest Fund Institution after fighting for special account.

"One to many" of the personal management of Party Kai Yu

The cashmere blue ocean strategic asset management plan has been active in the new shares and new debt, and has been appearing frequently in the offline placing list of listed companies. It has recently participated in the offline placement of tower group convertible bonds and Bao Mo shares.

The list of convertible bonds issued by the tower group shows that a total of 183 fund accounts "one to one" and "one to many" products have appeared on the list. This is also the most concentrated one when the fund accounts are listed on the Internet.

New rules of Shenzhen Stock Exchange warn speculation style

The Shenzhen Stock Exchange recently issued the notice on improving the monitoring and risk control of the first day of IPO on the SME board, aiming at coordinating the IPO reform and IPO restart, warning and guarding against excessive speculation on the first day of listing.

Compared with the original wind control rules, the notice highlights the core role of temporary suspension measures in warning and controlling the first day risk of stock listing. At the same time, it adopts the suspension index of the intraday paction price than the opening price increase, and reduces the number of suspension times, so as to shorten the suspension time.

It is the calculation index for the reform of the threshold value of the suspension, taking the change of the trading price of the intraday price as the opening price, instead of the difference between the intraday price increase and the opening price increase as the basis for calculating the temporary suspension threshold value; two, the two stop system, that is, when the intraday rise or fall reaches or exceeds 20% and 50%, each stop for 30 minutes; three is the requirement to cancel the risk warning announcement when the exchange rate reaches 80%; four is the first day trading system for all kinds of stocks, except for the first day trading of the first public offering of the SME board, the application of this notice, the resumption of listing, the implementation of the stock reform plan, the first day of the resumption of the stock market, and other trading without price rise or fall limit, is also carried out with reference to this notice. The notice has made four major modifications to the paction monitoring and risk control on the first day of listing:

The notice also strengthened the monitoring of the first day trading and the handling of the abnormal accounts of major pactions, and put forward clear requirements for the securities companies in terms of investor education and trading behavior norms.

The notice stipulates that the Shenzhen Stock Exchange will closely monitor the entrustment and pactions on the first day of listing, and take further risk control measures according to the market situation. The accounts that affect the price of securities trading or the volume of securities trading through large centralized declaration, continuous declaration, high price declarations or frequent revocation declarations will take restrictive pactions in accordance with the relevant provisions, and bring forward the measures such as early intervention or investigation by the SFC.

The financial innovation laboratory of Shenzhen stock exchange conducted a study on 223 small and medium-sized board stocks issued in June 2009 after the "new and old delimitation". In June 19, 2006, 71.5% of investors were the first to participate in the first day trading of the stock market, and the trading experience was not enough. From the paction distribution, up to 54.45% of the investors were buying up when the issue price increased by more than 300%, with the typical herding effect. However, after 20 trading days, the proportion of investors who had bought the first day was more than half, and the most serious 22 stocks lost a higher proportion. The highest loss of a certain stock investor account for 99%, and the investors with an account value below 100 thousand yuan account for the most serious loss. According to

New shares may be a better choice.

Tang Wanshan, an analyst at Soochow securities, believes that there are no obvious signs of starting up in the blue chip market at present. Only a few hot spots such as regional plates, new energy and economic pformation have not yet seen new selling points. The small and medium size index is rising with a steeper trend, and the related stocks have been innovating repeatedly. The valuation of some leading stocks has exceeded the 6000 level of the big market. The bad data in the gem, the lack of speculation and other reasons make it difficult for the capital to find hype in the two market, so some of the capital targets have shifted to the purchase and speculation of new shares.

In addition, the recent trend of the broader market is relatively stable. Nearly 1 months of cross market quotation is not only a hotbed of small and medium board stocks but also brewed the recent "speculation" market.

"The heat of the new speculation has also suggested that the fund will not be clear about the future market."

Tang Wanshan pointed out.