Today's big counterattack by international bears made the offshore market RMB exchange rate depreciate down again, the A-share market ushered in a wave of rebound, the whole day out of a heart-wrenching low open high market, the Shanghai Composite Index opened low in the morning -2.56%, directly broke through the 2900 point mark, back to the 2800 point era.

It caused panic for a while, but after the opening, it opened low and went high, closing up +1.97% and returning to the 3,000-point mark.

Shareholders are basically in a state of being deeply trapped, most of them are forced to choose to lie flat and pretend to be dead, and the people who really cut the meat are obviously buried in the foreign exchange market with some large funds, breaking bones and tendons.

As a result, there was a scene that made shareholders feel very abnormal, and the RMB exchange rate against the US dollar in the offshore market depreciated by more than 500 basis points at the highest intraday price, and the stock market opened lower and higher all the way.

Because as soon as the renminbi depreciated in the foreign exchange market, those people paused cutting meat and barely breathed a sigh of relief.

It's just that in the eyes of most stockholders, it seems very weird, because under normal circumstances, it should be the appreciation of the offshore RMB that is good for the stock market, and the depreciation is good for the stock market.

However, after the A-share market closed, the foreign exchange market, which was still in the open state, appreciated the RMB exchange rate against the US dollar in the offshore market again and pulled back more than 240 basis points, so that they were just caught a breath and were hung up again after a while, and the offshore exchange rate they expected to depreciate was disappointed.

As a result, the funds that hold stock assets in the A-share market can only be cut again, which is reflected in the market the next day, that is, A-shares have just rebounded for one day, and the next day there will be a sharp fall again.

The A-share market opened on Friday, January 15, and the uncertainty of the weekend weekend was superimposed.

The Shanghai Composite Index fell -3.55% to close at 2,900.97 points, and 3,000 points were broken down again, narrowly holding the 2,900-point mark, with a turnover of 206.6 billion, the Shenzhen Component Index fell -3.35% to close at 9,997.93 points, falling below the 10,000-point mark, with a turnover of 331.7 billion, and the New Stock Exchange 50 Index fell -3.60% to close at 834.98 points, with a turnover of 55.7 billion.

The total turnover of the three major A-share trading markets is 594 billion, from the perspective of trading volume, the market is continuing to shrink, such a trading volume can be compared with last year's big bull market, and even less than half of the trading volume of a single Shanghai Index.

However, this week's market fell at the same time, the IPO of the SGX next door did not stop at all, this week is the second week since the market opened, this week SGX listed 22 new stocks, but also expanded the SGX stock pool to 80.

Dragged down by the market's killing sentiment, the second batch of new shares listed was not as strong as the first batch, and all of them rose and fell on the day of listing, but they did not fall below the issue price.

Next week, the third batch of companies will continue to be listed, and it has already been reviewed, and there are 26 new shares registered and listed in the third batch.

The fourth batch of new shares registered and listed has also been fully reviewed, with a total of 19, and more than half of the new shares registered and listed in the fifth batch have also been reviewed.

The new shares registered and listed on the SGX are calculated according to the number of weeks, and there will be a batch every week, and there will be no stop this year.

As of today, there are a total of 59 new shares listed on the A-share market this year, of which 58 are on the SGX, and only 1 is on the main board of the Shenzhen Stock Exchange.

At present, the market is continuing to fall, 3,000 points can not be held, and even 2,900 points will be broken down at any time, and the issuance of new shares registered and listed on the SGX next door is so fast, which also makes investors on the main board complain, and the market's trading volume is getting worse and worse.

To a certain extent, the general listing efficiency of the SGX does have an impact on the main board.

Because almost all accounts with more than one million funds will go to the SGX to play new stocks, at present, as long as the new lottery is basically a steady profit, this week's batch of new stocks registered and listed is not as strong as the first week of "36 Tiangang", but it can still earn dozens of points.

Even if the market continues to fall to a new low this week, these new stocks have not broken and are generally not at a loss, and accounts with SGX authority will naturally not give up playing new stocks here.

And the SGX is listed violently, but also let the two main board exchanges see in the eyes of the anxious heart, behind thousands of companies are queuing up for IPO, is really want to on, but now very concerned about the market, the first few days of the year online circuit breaker mechanism also poked such a big basket, last year also said that 4000 points below the new shares will not be issued.

Seeing the fast speed of the registration and issuance of new shares on the SGX next door, this scene is simply grabbing their own money in the eyes of the two main boards, and I really can't wait to call one or twenty companies to go up next week and have an IPO competition with the SGX.

But it's annoying to be unable to find a suitable contract, and at the same time, it's very unpleasant to look at SGX, but it's not a problem with it, so it's very angry.

Many companies that want to go public and make money look at the fast listing efficiency of the SGX, and they are also very hot, why don't they want to go to the SGX to be listed, but they don't dare!

Because the management team of SGX is not a person with them, and they can't enter the same door at all, and there is no intricate bond between the two sides, the management team of SGX will not bird them at all, let alone be afraid of them.

Thinking of registering and listing on the SGX, of course, you can, but you have to follow the clear rules, and those companies that want to list to make money are most afraid of following the clear rules, because according to the clear rules, their companies will not be listed at all, which they know better than everyone else. Shameful things such as inflated profits and financial fraud may also be shaken out when "breaking through" the SGX.

Therefore, even if they are enthusiastic about the efficiency of the SGX registration and listing, they do not dare to come.

And even if the initial "breakthrough" of the SGX is successful, there are still checkpoints waiting for the back, and there are strict restrictions on the size of non-holdings, even if the three-year sales restriction period has passed, the first year of reduction will be restricted, and it is impossible to reduce holdings in one wave.

No matter how much the non-illegal reduction is large, it will be directly ST, and the refinancing will be restricted for several years, and the direct and unconditional delisting will be directly and unconditionally forced to reduce the holdings by more than 2% twice in a row or more at one time.

Even if you want to take the road of stock pledge, it is also restricted everywhere, and the maximum pledge ratio does not exceed 35%, that is to say, the stock with a market value of 100 million can pledge up to 35 million cash, and the use and destination of this fund should also be clarified, and it will be closely watched.

In the eyes of those who want to list and make money, this series of regulations of the SGX are all stumbling blocks that prevent them from cashing out money.

The efficiency of the SGX listing is indeed fast, but there are really few people who are willing to come with the mentality of making money, and they must have the ability to break through the rushing checkpoint set by the SGX to cash out and run.

……