Chapter 321: Thousands of stocks hit the daily limit, and the Shanghai Composite Index broke through 3,300 points again!
Monday, September 30, 2024.
The last trading day before National Day.
The market has gone completely crazy.
I thought that the 5% surge in the morning session, breaking through 3,200 points, was already amazing enough.
Unexpectedly, as soon as the midday session opened, the market continued to surge, soaring by more than 7%, and directly surpassing 7%! Thousands of stocks hit their daily limit!
chips,
chips,
Still chips.
Some people are rushing in frantically to grab chips.
Some people were also selling their chips in panic.
Amidst the fierce battle between bulls and bears, trading volume hit a record high, shocking everyone, even the street vendors knew about it.
The following records a set of data:
1. Within 35 minutes of opening, the trading volume of the Shanghai and Shenzhen stock markets exceeded one trillion!
2. At noon, the trading volume of the Shanghai and Shenzhen stock markets exceeded 1.5 trillion!
3. At 2:00 p.m., the trading volume of the Shanghai, Shenzhen and Beijing stock markets exceeded 2 trillion yuan, setting a record for transactions since June 15, 2015!
4. The Shanghai Composite Index surged over 7%, the Shenzhen Component Index soared 10%, and the ChiNext Index soared over 14%! All of these stocks hit new highs this year.
5. CSI 1000 and CSI 500 all hit their daily limit, and 41 brokerage stocks all hit their daily limit. After the new stock N Changlian Technology was temporarily suspended twice, it soared by 1700%!
One day, 17 times.
While the market is crazy, let us pay more attention to some recent financial information.
1. The Nikkei 225 index fell more than 5% during the session, and the Indian Sensex index fell 1% during the day.
From this point of view, this shift in global capital flows has a profound impact on stock markets around the world.
A lot of foreign capital, or some of it originally Chinese capital, is flowing back into the A-share market.
It is conceivable that after the seven days of National Day, a large wave of energy will accumulate.
Nowadays, no one knows where this mad cow has gone.
The reason why it is called a bull market is that it is unreasonable, rushing around recklessly, breaking all the rules. You can't predict how it will go, how it will break through, and how it will perform.
Just like a newborn calf, it refuses to admit defeat and will not turn back until it hits a wall.
At this stage, all previous rules will become invalid.
Review, technology, all failed.
Because the situation has exceeded everyone's imagination.
The trend will temporarily be out of everyone's control.
2. The Shanghai Stock Exchange expands its bidding capacity.
Last Friday, the Shanghai Stock Exchange crashed due to surging trading volume.
Last weekend, the Shanghai Stock Exchange conducted simulated trading and also cleared last Friday's trades.
It is said that the Shanghai Stock Exchange is issuing bids to expand its daily trading capacity to 10 trillion yuan, and will conduct simulated trading again during the National Day holiday.
Amidst the fierce dispute between China and the United States, hypoglycemia temporarily defeated hypertension, and with the endorsement of a missile, global capital began to flow crazily into Hong Kong stocks and A shares.
Now, my country's financial market has officially embarked on the road to becoming a global financial market.
Perhaps, this is exactly what it meant to build a strong financial nation last year.
3. Further relaxation of real estate regulation
Over the weekend, Shanghai, Guangzhou and Shenzhen lifted purchase restrictions.
Last year's government economic work conference called for the real estate market to be "established first and then destroyed."
A few days ago, the ZZJ meeting stated that the real estate market must "stop falling and stabilize", "strictly control the increase", "optimize the existing stock" and "improve the quality" (the next step will be the 2025 ZY Economic Work Conference in November).
Looking at the development of the entire real estate market, it started with the tax-sharing reform in 1993-1994, when the land sales revenue was directly allocated to local governments.
This led to the subsequent development model of selling land, selling buildings, and developing services in an all-in-one manner, with real estate as the mainstay, which also gave rise to the rapid development of the real estate industry.
But now, it is clear that this path is no longer viable and other paths are being taken.
The local tax base will shift from land sales revenue to consumption tax.
This fundamental change directly undermines the foundation of previous large-scale real estate development.
It is true that the real estate market will continue to develop, but it will not be able to recover the glory of ten years ago.
Similarly, the blogger still believes that real estate and liquor are not the main lines in this bull market, even though these two industries have hit the daily limit almost every day in the past few days.
But investing is a long-term process.
Until the end, no one knows who the final winner will be.
Today's market:
The Shanghai Composite Index opened at 3194 points. After a slight correction, it soared 5% to break through 3200 points, and then continued to rise. In the afternoon, it soared 8% to break through 3350 points.
After 2 p.m., the Shanghai Composite Index began to fall back to around 6%.
Finally, at 15:00, the Shanghai Composite Index closed up 8.06%.
A group of people got off the bus.
Another group of people got on the bus.
The trading volume of the Shanghai and Shenzhen stock markets reached 2.37 trillion yuan, setting a new historical record!
Shareholders exchange:
1. "Chen Xiaotian": It is indeed the stage of training the mind, deleting the APP and locking the position.
really.
However, when this moment really comes, how many people can resist watching the market?
I'm afraid it's only one in a hundred^_^.
2. "User 35092702": increased positions on September 2 and fully invested on September 18.
This rhythm is awesome.
I seriously doubt you've seen the biggest dealer's cards.
3. Li Tong: I'd like to ask about the sustainability of the initial bull market. If the market doesn't recover after a review, how far will the frenzy go before it cools down? How long does it usually take? Half a month? One month? Two months? Three months?
Nobody knows.
Because the future is unpredictable.
I calculated it in the green bubble a few days ago.
This bull market should last for more than half a year, that is, before March next year; the height should be at least above 4,000 points.
So, although the market is crazy now, it is still relatively safe in the long run (there may be adjustments at any time, but there may also be no adjustments).
The most important thing at the moment is how many bottom chips you have and whether you can hold on to them.
Until finally, the chips are thrown out and cashed in.
4. "After catching ghosts and pushing the millstone, I sell it for 360 yuan": What a pity! What a pity! I'm completely short!
this…………
If you lack confidence,
At least, it should be around 2700 points, right? Buy some ETFs?
5. "One Punch ⑨": Update daily...
Try to ensure that the trading day can be updated,
Initial plan: update to one million words first, to complete a set goal,
The time should be around the end of this year or the beginning of next year.
After that, I will update as the occasion demands.
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