Half an hour after the opening of the SGX, the main boards of the two cities finally officially opened at 9:30, and the market index went a flat open, but the Shanghai Composite Index began to decline about five minutes after the opening, and the H-share index next door showed a unilateral downward trend, which also dragged down A shares.

At the same time, international short capital has also begun to exert force, and began to sell a large number of short orders in the offshore RMB exchange rate market, suppressing the exchange rate to further depreciate, and it is about to break through to a record low of 6.5939 on August 12 last year.

On the side of the A-share market, northbound funds are also smashing the market, and at the same time, many accounts with more than one million yuan that have opened SGX authority are also selling stocks on the main boards of the two cities to varying degrees, intending to free up some funds to play on the SGX.

Finally, at around 10 o'clock, the bears on the foreign exchange market broke through 6.5939, and the offshore exchange rate of the yuan hit a new low.

Then there was a "double kill of stocks and foreign exchange", the Shanghai Index began to dive, and the funds rushed to escape, falling below the 3,500 and 3,400 points mark, a decline of more than 4 percentage points, and the major sectors also fell.

At 13 o'clock in the afternoon, the main board index of the Shanghai and Shenzhen stock markets continued to fall after the opening, and the CSI 300 index fell by -5% at 13:13, triggering the circuit breaker mechanism, and the two markets suspended trading for 15 minutes and resumed trading at 13:28.

Shareholders never expected that Big A would launch the circuit breaker mechanism for the first time, and directly triggered the first circuit breaker in history on the same day.

The main board is like this, and the new stock 50 index, which is also online today, has also been dragged down, and 22 galaxy concept stocks have fallen across the board, and these tickets are expected to make up for the fall, because of the explosion in August last year, these 22 stocks escaped because of the suspension of trading, and at that time these stocks hit a record high, and they have accumulated a large number of profits.

At this moment, due to the panic of the main board and the negative factors transmitted by the foreign exchange market, the holders of these 22 stocks, especially those with huge profits, were frightened to sell quickly.

Now it's really starting to make up for the fall.

The New Securities 50 Index, which rose more than 5 percentage points in early trading, was also taken underwater at the moment.

At the same time, the main boards of the two cities stopped for 15 minutes because of the circuit breaker, but the SGX did not have a circuit breaker mechanism, and under the continuous fall of 22 super-cap stocks of the galaxy, the new stock 50 index also fell further, and the decline soon reached -5.78%, and the intraday earthquake exceeded 11%, and it is still falling.

At this moment, the panic in the three cities of Big A is boiling, and the shareholders on the main board are numb.

Run——!

That's on most people's minds at the moment.

At 13:28, the main boards of the two cities resumed trading again, and directly stepped on the further decline, and in just five minutes, that is, at 13:34, the CSI 300 index fell to the -7% mark and triggered the circuit breaker again.

More than 1,000 stocks in the two cities fell to the limit, and on the first trading day of the year, there was a 1,000-share limit, and the shareholders were stupid.

After the second circuit breaker in the day, the exchange will suspend trading until the market closes, and the main board will close work directly one and a half hours earlier.

On the foreign exchange market, international short capital is launching an onslaught, and the offshore exchange rate continues to depreciate.

The capital market is full of grief, and shareholders never thought that the first trading day of the beginning of 2016 would stage a "double kill of stocks and foreign exchange".

It's like pouring cold water on everyone, no, throwing a basin of hailstones.

……

On the other side, Fang Hong was watching the market in the trading room on the second floor of his villa, and Tian Jiayi, who was in the company, sent him an index at this time, which had fallen by more than 7 percentage points, should we make a move to support the market? ]

Fang Hong replied simply and clearly: [No, let the market's own forces deduce, including the foreign exchange market, if there is no sudden change in the story, just follow the original plan.] ]

Tian Jiayi: [Well, okay.] ]

On the first day of the opening of the SGX, all outside funds firmly believed that the SGX 50 Index would definitely get off to a good start, and Qunxing Capital would definitely take action to support the market.

Red is red, but only red in the morning, which is equivalent to red loneliness.

If other institutions are market makers of individual stocks on the SGX, then Qunxing Capital can be said to be the market makers of the SGX 50 Index and the market makers of the SGX.

However, Fang Hong did not let all the funds fulfill their wishes, and he really had the confidence to do a good job in this field, so he didn't have to worry at all, even if he went down, he would still get up.

The first batch of 36 companies registered and listed were speculated by funds, and felt that the SGX had no risk, and Fang Hong also took this opportunity to teach the shareholders of the big A a lesson, the new shares under the registration system are not completely risk-free, and the SGX is not brainless speculation to make money.

On the other hand, it is the core factor, at this time the foreign exchange market is in a showdown, Fang Hong wants to take this opportunity to pack up some things inside and outside, and there are a group of opportunists who repeatedly jump back and forth onshore and offshore to arbitrage interest rate differentials, these gangs follow the international short capital to short the RMB, and there are also those who take the opportunity to transfer wealth overseas.

What Fang Hong has to do now is to give them a window of time to jump into the pit, the more the capital market plummets now, the more panicked they are, the more resolute they will "escape", and the more unswervingly they will jump into it.

When it's almost time to jump into the pit, just catch them all, and don't even think about running away with a sickle.

……

The main board has already left work in advance, and after hitting the second circuit breaker in the day, it will directly suspend trading until the close, but the SGX next door is still trading, and the shareholders of the main board can only go to watch the SGX at this time.

At the moment, the trend of SGX is also weak, although it has not continued to explode, but there is no sign of a rebound.

The 22 super-large-cap stocks of the galaxy listed on the SGX are now also in a state of lying on their stomachs, and more than half of them have been squeezed to the fall limit.

At present, there are only 36 stocks in the red market, and it is the first batch of "36 Tiangang" registered and listed.

Beep, which once soared 17 times in early trading, has now fallen back to the +870% water mark, and other stocks that have soared have fallen back by more than half at this time.

Don't look at the fact that there are still several times the increase, such as the beep beep still has more than 8 times the increase, but if it is rushed into the highest point in the morning, it has now been cut in half, and the new shares registered and listed on the SGX are speculated on the first day, and if you don't play well, you will face a direct halving within the day.

The shareholders of the main board looked at the "36 Tiangang" of the SGX and drew an ultra-long upper shadow line one by one, and finally became a lot more sensible, and also had a new understanding of the registration system.

These shareholders with access thresholds are a blessing in disguise, because they want to free up funds to play on the SGX, and they cashed out early to avoid the explosion of the main board, and because of the hesitation of the market explosion, they finally escaped today's big fall.

Many Xiaosan who can't reach the threshold are still envious in the morning, hoping that the SGE can lower the entry threshold, and at this time they suddenly feel that it is right to set a threshold of one million, and ordinary people really can't afford to be hit by half in the day.

……