For the killing and falling in June, the butterfly effect caused by the default of Guangda Bank amplified the panic effect of "money shortage" and triggered a rapid downward trend in the market.

With the continuous expansion of the leverage ratio, the RMB excess reserves of commercial banks are gradually declining, and the marginal bearing capacity of the banking system's liquidity has also dropped significantly.

A number of factors have exerted contractionary pressure on liquidity in financial markets.

Last Monday, the big four banks announced that they had been heavily increased by Huijin and Qunxing Capital.

However, looking back now, today a super black candle poured down, the Shanghai Composite Index plummeted -5.30%, falling below the 2000-point mark, and the stock market obviously failed to stop the decline due to these good news.

After the close, all kinds of negative news piled up.

The chief strategy analyst of a brokerage firm said: the main reason for the market to break through 2000 points is because of the soaring interest rates in the interbank bond market, the shortage of funds has caused panic in the market, and the second quarter of the economic growth decline and other multiple negative superposition led to a sharp fall in the index, it is still difficult to judge that 1963 points is the bottom of the medium and long term, because the earnings of listed companies have not yet turned a corner, and the future market situation only depends on two conditions, one is whether there is a discussion about the listing period of corporate earnings, and the other is whether the balance sheet of the corporate sector is benign.

I have to say that it is very bad, and when it falls below 2000 points, it is inevitable that there will be a suspicion of taking advantage of the situation to suppress and force the timid to cut their meat.

……

The next day, Tuesday, June 25.

At the opening of the A-share market, the large-cap index opened -0.76% lower at 1,948.32 points, and the call auction broke through the previous low of 1,949 points, and the so-called "founding bottom" hit a record low.

The index barely turned red in the opening half an hour, but then the market took a sharp turn, and at 11 o'clock it was a large-scale accelerated dive and fell directly below the 1900 point mark, and at about 13:06 in the afternoon, the market index fell to 1849.65 points, a decline of nearly -6%, a new low in the past four years.

The market conditions are unusually seen in recent years.

The market index is like this, and individual stocks are even more miserable, of which 12 Galaxy concept stocks are 9 falling today, and the rest are also approaching the fall limit.

The share price of quantitative capital fell to 32.33 yuan, and the market value shrank by 45.197 billion, from the historical high of 75.57 yuan, with a cumulative decline of -57.22% and more than the halving line.

When the market index of Xingyu Technology broke through 1,900 points in the afternoon, the stock price fell to 2.68 yuan.

The stock's recent high point was on Friday, June 7, when the daily limit hit 4.91 yuan, which was the day of the STAR4 press conference, and now it has fallen to 2.68 yuan, and the cumulative decline has reached -45.42%, which is basically not much different from halving.

The stock price of Xingyu Technology has fallen miserably, especially in the last five trading days, five with the big black line, four of which are down limits.

The market itself has negative factors one after another, and for Xingyu Technology itself, it is also because of Qualcomm's unilateral default that there has been a major negative, resulting in a unilateral decline in the stock price.

But at the same time, STAR4 mobile phones are in short supply, and now it is rumored that STAR4 will become a swan song, and the production capacity of Xingyu Technology is also a total of 33 million units, and now it is actively suppressing shipments in order to stay in the consumer market as much as possible.

The superposition of this series of factors has led to the rarity of goods, and the second-hand market price of STAR4 mobile phones has been speculated, of which the price of the 256GB body memory version has been speculated to a sky-high price of 29,800 yuan.

The stock price of Xingyu Technology's secondary market fell in five days and four times, and all the people who bought the bottom were buried, but the market in the past few days is likely to be buried in other places, especially in the last two days.

……

Just when the market index had just fallen to 1849 points, only two minutes later, Fang Hong received a call from the village.

The village chief personally called.

The intention is also very simple, don't beat around the bush, at this time I want Fang Hong to use his influence to boost the confidence of the market, the current situation is really a moment when confidence is more expensive than gold.

This week's market situation is too tragic, the market index has fallen by more than 5 percentage points for two consecutive days, and more than 10 percentage points in two days.

At around 13:15, Fang Hong updated a blog post on his K3478 personal Weibo account:

【

During this time, many people asked me to analyze the reasons for the killing, hindsight's analysis is not of much significance, more is to focus on the future layout, the market has just fallen 1849 points, I personally think that the historical bottom of A-shares has appeared, two days of continuous plunge has been exhausted, the power of the bears has been exhausted, maybe there may not be such a low, so cheap chips in the future.

I have already taken a heavy position to buy the bottom, how should you strategize?

Opportunities are often born in despair, and after the cold winter, it is the end of a cycle and the beginning of a new era.

】

Fang Hong put this Weibo as unswervingly bullish on the market outlook, and said with a very positive word that 1849 points is the historic bottom, and he is not worried about being slapped in the face during the session.

Because, Qunxing Capital will take a shot.

Even if someone wants to smash through the Shanghai Index market and slap him in the face, it is impossible to do it, and Qunxing Capital will dare to take as many chips as he smashes, and he will not refuse.

Without the back-up guarantee of Qunxing Capital, Fang Hong would not have said it so absolutely.

After his Weibo update was released, only three minutes later, his blog post was even pushed by major market software as the latest market news:

[K3478: The historic bottom of A-shares has appeared, and the bottom has been heavily purchased. 】

Shareholders who have fallen to despair are very puzzled when they see this news news, and many people go directly to K God's Weibo to take a look, and when they see that it is really K God who posted Weibo, everyone can't sit still.

The thoughts of the shareholders at this time are: Wo Depend, K God has taken a heavy position, and the brothers are cute——!

At the same time, Qunxing Capital has also seen that without saying a word, it directly accelerates the entry of over-the-counter funds into the market to take the lead in longing, and its major capital institutions that manage the market value of Qunxing have also followed up.

The broad market index stopped falling and then rose rapidly.

Xingyu Technology's fall limit was pried open, quantitative capital fell limit was pried open, and Yixing Video's fall limit was pried open......

The bulls launched a Jedi counterattack, and the shareholders saw that the K god had just issued a message and the market began to fight back strongly, and they really couldn't sit still, and they entered the market to do long and grab chips, and the long and short sentiment of the entire market reversed.

Faith is more expensive than gold!

At this moment, market confidence is being restored, and the index has started an epic deep V rally.

At 13:30, the decline of the broad market index narrowed to -3.94%;

At 13:45, the broad market index regained the 1,900-point mark;

At 13:55, the decline of the broad market index narrowed to -2.23% and continued to rise......

At 14:30 at the end of the session, the market index narrowed to -0.96%, and the daily K-line walked out of an ultra-long lower shadow line, showing a golden needle bottoming pattern, and the concept stocks of the galaxies also collectively turned red and rose at about half past two o'clock.

The whole market is going deep, and the V is rebounding.

At the close, the Shanghai Composite Index closed -0.19% lower at 1,959.51 points, the Shenzhen Component Index closed down -1.23% at 7,495.10 points, and the ChiNext Index closed up +1.37% at 984.75 points.

In terms of individual stocks, quantitative capital closed up +0.30% at 36.03 yuan, with a turnover of 1.207 billion yuan and a market value of 50.370 billion, and Xingyu Technology closed up +0.15% at 2.98 yuan, with a turnover of 4.167 billion yuan and a market value of 820.558 billion.

Other galaxy concept stocks also closed up slightly, and the Jedi counterattack in the afternoon was like a rainbow, and the entire market was in a short trend.

God K is a god again!

……

(End of chapter)