Is IPO Restarting Good Or Bad?

There is no love without reason or hate without any reason.

Of course, there is no sudden rise without cause for no reason.

Sometimes the development and changes of the market are unexpected. Last Wednesday, A shares changed dramatically, closing the market rose 4.31%, the new high, only 4 shares fell in the two cities, the brokerage sector surged 9.99%, the collective trading limit, the brokerage riots, A shares crazy! Again, the volume of pactions, the two cities traded 994 billion 100 million, huge amounts of goods to sweep the goods situation, sweeping away thousands of troops.

Last Wednesday, from the K-line, the Shanghai Composite Index and the growth enterprise market have already formed the arc top. Next is to break the position. But in the afternoon, the sudden change of the wind and the A performance is stunned. After the violence of the broker company, the 3450 pressure level was finally removed.

Then the next few days, the entire brokerage sector is very strong, water skin for such inexplicable rise can not see through.

At that time, I had to explain that people thought so much that such a large amount of money came into the market, indicating that everyone was optimistic about the market.

In addition, the growth rate of the main board and the growth rate of gem 50% is limited, and the blue chip stocks are still at a low level, and there is a demand for rising demand.

This is the two farfetched reason at that time.

Why was it then?

The rise, not the rise of bank stocks, is not an increase in the insurance sector, or can not be explained clearly.

But when the SFC announced the IPO restart on Friday, the news came to light.

The acceleration of registration system is also unexpected.

The significance of the stock market is that stocks can make profits.

But for the government, the value of stock market is financing first, and the problem of financing is the root.

Shui Po thinks that

Pause and restart do not determine market bull and bear.

Of course, in the bear market, IPO will be suspended.

In the past, IPO stopped eight times, the market index dropped three times, and the five time was slowly rising. But it still can not be said that the IPO stock market will rise, and it can not be said that IPO will bring bull market.

Why? The reason is simple.

If we are optimistic about the stock market, the enthusiasm is very high, and the demand for new stocks will be very high. At this point, the recovery of IPO has no effect on the index rise.

There is no cause and effect. It can not be said that the bull market has come because of the resumption of IPO.

The IPO restart was seen as positive, mostly because of the IPO system reform.

Whenever the IPO is issued, the primary market will store up three trillion and five trillion yuan in order to fight for new capital with a huge amount of money. At the same time, the two tier market will lose blood, but now the cancellation of the advance payment will reduce the short-term impact on the capital to some extent.

To say more, there are advantages and disadvantages in everything.

Hoarding funds in the primary market is a new incremental fund for the new market. Now the cancellation of the advance payment is not necessary. The new funds are not necessary to enter the field. Therefore, it is not conducive to attracting incremental funds.

The thorough point of the new system is the rationing of the compensation for the fund in the field.

Those who take more shares will have a greater probability of placing them.

So who will have the biggest sale? Of course, the national team.

CICC and Huijin own 1 trillion and 260 billion of the stock, which is equivalent to about 1/15 of the market value of circulation, and the ratio of their allotment is guaranteed.

As a compensation for the national team, there is nothing wrong with it. It may be unfavourable for retail investors and a sharp reduction in the success rate.