The next day, Wednesday, April 20.

Today, the A-share market new stock 50 index opened, and the morning auction opened at 1555.61 points higher +0.86%, and after the opening, it also opened higher and went higher, and the highest rush to 1575.05 points at about 10 o'clock in the intraday period expanded to 2.12% water level.

This position is the intraday high of the new stock 50 index today, and then it began to rise and fall, and it was officially confirmed to enter the adjustment phase in the afternoon.

After two days of crazy rises, an exponential daily limit, a day of more than 5 points of a big rise, the entire exponential main wave from the bottom of 780.15 points since the cumulative increase has doubled, the new 50 index should also need to be adjusted, no matter how bullish the index or market can not continue to rise.

At the close of 15 o'clock in the afternoon, the new stock 50 index closed down -0.89% after hours at 1528.65 points, and the turnover also shrank, and today is the trading scale of 2206.

I have to say that Fang Hong's live broadcast last week opened up a new understanding of the financial market and the A-share market to thousands of shareholders, which is still easy to understand.

For example, individual stocks can be refinanced, but ETF funds can also be borrowed and lended, and many people didn't know there was such a thing before. As a result, ETF funds in the main board market can also be lent out for people to borrow and lend short, which not only earns your management fees, but also helps the bears smash your own disk.

It's not just eating your food, it's also smashing your pot. It's no wonder that Big A always can't buy it out, you can borrow it out to let people smash the market after you buy the front foot, and the more you make up the position, the more short positions you will smash.

Although the interest income from securities lending is still counted as the fund/ETF holder, that interest cannot cover the loss caused by the sharp decline in the net value of the ETF itself caused by a large number of short smashing, and the interest earned 0.5 percentage points of income by securities borrowing and lending, and the net value has plummeted by more than ten percentage points.

Not to mention that there is a rather explosive anti-heaven operation of "currency for coupons", the borrowed coupons do not need to go to the market to buy and return, just discuss the settlement with cash, the bears can not use all their strength to smash, the lower the smash, the less money is paid back when the settlement means that you will earn more, and you don't have to worry about the risk of being forced to short and liquidate by the bulls.

The international bears have to be surprised, can they still play like this? It's also an eye-opener!

Shareholders who have just recognized these things have directly broken the big defense, completely Bengbu, this week's A-share market opened, countless shareholders have cut their meat and cut their positions, even if they are deeply trapped by the waist cut, they no longer choose to lie down and pretend to be dead, but directly cut the loss out.

But this is also the last time, because these shareholders who came out never planned to come back, but took the rest of the money and backhanded the new stock 50 ETF, and resolutely threw themselves into the arms of the SGX.

There is no refinancing of restricted shares, and there is no ETF lending, so there will be no chips bought by yourself to smash your own plate.

Relying on the foil of peers, the new stock 50 ETF has been bought by thousands of shareholders, and the plate of a single Huaxia new stock 50 ETF has come to more than 230 billion, and it is going to run towards the scale of 300 billion, and the total scale of the five new stock ETFs has soared to an unprecedented level of more than 710 billion.

……

About twenty minutes after the market closes, SGX headquarters.

A man hurriedly entered the general manager's office, and he said to the leader of the SGX with a solemn look: "Mr. Wu, I just received the news that something happened on WeChat. ”

General Manager Wu saw his face and knew that something was wrong, and immediately asked, "What's wrong?" ”

The man immediately responded: "% of the stock has been cashed out from the secondary market. ”

As soon as these words came out, General Manager Wu's face changed, but then he said: "Impossible, on the trading system platform of the SGX, it is almost impossible for major shareholders to reduce their holdings in violation of regulations, and it is technically impossible to do it, how can it be possible to reduce their holdings in the secondary market in violation of regulations?" ”

The man quickly replied: "The preliminary investigation shows that it seems that the trading system was maintained and upgraded last week with a BUG vulnerability, and the major shareholder was able to successfully reduce his holdings. ”

General Manager Wu was stunned for a while, and after a while, he pretended to be calm and said: "I know, you go to the front line and keep an eye on it, be sure to fix the system vulnerabilities before the market opens tomorrow, and report to me immediately if there is news." ”

The man nodded, "Understood." ”

After speaking, he turned around and left the office, and General Manager Wu was left alone in the room, and his subordinates just went out, and he was startled from the desk, and immediately got out of the desk and paced back and forth, with a broken thought in his mouth: "Bad thing, bad thing, bad big thing......"

The fact that the top leader of SGX can be so out of shape shows the seriousness of this matter.

He knows very well that behind WeChat is Qunxing Capital, and aside from this, individually, WeChat itself is also the existence of a trillion-dollar market capitalization, ranking third in the market value of the SGX and ranking within the top 10 in the entire A-share market.

If you change to another listed company, this is not a big deal, and if you reduce your holdings in violation of regulations, you can deal with it in accordance with the regulations.

"Why is this kind of thing happening to a listed company in the galaxy, and it is a company of this size like WeChat......" General Manager Wu was very annoyed at the moment, he never thought that the first company on the SGX to reduce its holdings in violation of regulations was actually the galaxy.

General Manager Wu was caught off guard for a while, but he quickly calmed down.

Returning to the desk and sitting down, how tricky this matter was, he knew very well in his heart that this was a great test for the SGX, which had just opened, and it was a test for himself.

He also knew very well that the stakes were serious, and if it was not handled properly, the consequences would be unimaginable.

Seeking truth from facts, or is it a double standard......

At this moment, General Manager Wu had such an idea in his mind, seeking truth from facts, that is, to strictly handle WeChat, but what should I do over there? What is the attitude of the stars? What is Fang Hong's attitude?

The first SGX leader seemed to realize that he had been roasted on the fire at the moment and was in a dilemma.

At this time, he slammed into the hottest event in the capital market recently, and couldn't help muttering: "Could it be that it has something to do with that incident?" This ......"

What happened on Saturday and Sunday last weekend made a lot of noise inside and outside the circle, of course General Manager Wu knew about that matter, and the more he thought about it, the more he felt that WeChat was suddenly illegally reduced at this time, and it was very likely to be related to that incident.

General Manager Wu said to himself: "Thinking about it this way, it is very likely that Fang Hong's opponent is fighting back, which puts the incident in a dilemma......

Thinking of this, General Manager Wu couldn't help but scold a few times, and said a little angrily: "Damn, it's really a person sitting at home, and the disaster comes from the sky, who am I provoking whom?" What is it that you are fighting in the air, but you have brought fire to me......

At this time, General Manager Wu firmly believed that the illegal reduction of WeChat holdings must have a great deal to do with that matter, and he felt that he had really poured blood mold for eight lifetimes, and he was aggrieved that he couldn't put aside his grievances.

I have to say that Mr. Wu watched the fire and accurately judged that this matter had a lot to do with what happened last weekend and weekend.

But what he never imagined was that this matter turned out to be a bureau set up by Fang Hong.

It's no wonder that Mr. Wu couldn't think of it, except for knowing the inside story, no one could have imagined that Fang Hong secretly made a technical illegal reduction operation on WeChat, but the truth of the facts is the most unlikely situation.

At this point, WeChat's illegal reduction has become an established fact, and General Manager Wu knows that he can't hide, who makes himself the leader of the SGX now.

……

(End of chapter)