Stock market exchange market in 2018
The Shanghai index fell 20% throughout the year and the market value of both cities evaporated 14 trillion.
On December 28, both cities were closed, and the 2018 A-share transaction ended. At yesterday's close, the Shanghai Composite Index rose 0.44% on the day, closing at 2493.9 points, Shenzhen Component Index rose 0.34% to close at 7237.79 points.
Although both markets end on the last trading day of 2018, from the perspective of the whole of 2018, under the influence of domestic de-leverage and a decline in US stocks, A-shares oscillate lower throughout the year. On December 28, the Shanghai Composite Index fell 24.59% for the year and the Shenzhen Component Index fell 34.42%.
The market value of the two cities has fallen by almost 30%.
According to Wande data, until yesterday, the total number of companies registered in two cities reached 3,567, and the total market value of Shanghai and Shenzhen stock markets was 48.67 trillion yuan. At the end of 2017, the total number of companies listed in stock A was 3,485, with total market value of 63.06 trillion yuan. The number of A-share listed companies increased by 82 this year, and the market value fell 14.39 trillion yuan, a decrease of 29.56%.
According to Zhongdeng Company statistics, the number of investors at the end of the A-share market in 2018 is 145 million, and the market value drops 14.39 trillion yuan. The average loss of A-share investors this year is 99,200 yuan.
In addition, the monthly turnover of the Shanghai and Shenzhen stock markets generally showed a downward trend, in September, turnover dropped to a low of 4.94 trillion yuan that year, and then rebounded.
From the perspective of this sector, the market capitalization of 28 industries in the Shenwan industry category is remarkable, among them, the smallest decrease for the banking sector, which fell by 11.96%, media, mining, building materials and 12 other sectors all fell by more than 30 %.
From shares, in 2018, out of all 3,500 shares, only 296 shares with a percentage of around 8% achieved positive returns. According to Wind Data, more than 1,200 shares fell more than 40%.
Jinli's permanent magnet won the most cow crowns
Although the overall performance of the A-share market is not good, there is still substantial growth in stocks, among them, Jinli Permanent Magnet won 2018 A-shares at 20188%, and other shares with the highest profit are Zhongshi Technology. 712, Taiyong Long March, Green Power, Great Wall of the Military, Ruike Laser, Tianfeng Securities, WuXi PharmaTech, Debon shares, etc.
In comparison to the most bull stock, the worst performing bear shares are * ST Bao Qian, * ST Fukong, Shenwu Environmental Protection, Jinya Technology, LeTV, * ST Huaxin, Orient, Jianrui Woeng, etc. Shares that fall more than 80%. In addition, if the first stock is removed from the list because the share price is lower than 1 yuan for 20 consecutive days, and the first share has been removed from the list based on "Implementation Steps for Significant Illegal Delisting from Registered Companies", Changsheng Creature has became an A-share "Pit King" this year.
In 2018, a total of six companies withdrew from the market because three consecutive years suffered losses, mergers and other nonconformities, higher than 5 delisting companies in 2017 and 2 companies delisting in 2016. The six were: Zhonghong Stock, Sinotrans Development, Ether Carbon, Jean, Kunming, and Deep Base B.
It should be noted that in 2018, there were two "pennies" on the A stock market. Among them, Jinya Technology's share price was 0.77 yuan, and ST Hairun's stock price was 0.87 yuan. Zhonghong retired from the market before the closing price of 0.22 yuan, refreshing the record for the lowest price in the history of A shares.
Besides the poor performance of individual indexes and stocks, the level of the IPO meeting in 2018 also reached the lowest value in 10 years. Until now, 2018 IPO-A shares have issued 199 companies, and the company has 111 clubs. 55.78%, vetoing 29.65%.
Since the beginning of 2018, the balance between two cities in Shanghai and Shenzhen has shown a downward trend. At the beginning of the year, the balance of both financing amounted to 1,029.8 billion yuan, down to 99.4 billion yuan in the middle of the year. At the end of the year, this figure was then reduced to around 760 billion yuan.
The stock market will be swayed next year.
Minsheng Securities believes that in the coming year, assessment adjustments will end soon, and the index in the future will slowly decline along profits. Market reversals based on earnings turning points may be late, and a second oversold rebound will arrive earlier.
When Shenwan Hongyuan Securities predicts A-share market trends next year, it also calls 2019 a "single year" after a rapid market decline. Structural opportunities will increase compared to 2018.
CITIC Securities has proposed that stock A will deliver at the beginning of the next three to five years of animal revival in 2019. Under the influence of earnings, policy and liquidity, the market is expected to consolidate in the first quarter of next year, and the second quarter will gradually enter the stage increase in profit and valuation to improve resonance.
CICC predicts that from this year to the end of 2019, the A-share market may experience a period of risk release and continuous opportunities, and the timing is very important. The overall valuation of A-shares has been low. When market interest rates fall, the foundation for expansion of valuation has been set at first. In the future, it is expected to stabilize growth and potential for reform, increase efficiency and increase vitality. In addition, long-term funds such as foreign capital and real estate funds can flow to support the increase in A-share liquidity. (Reporter Zhang Siyuan)
■ Related news
The exchange rate of the RMB against the US dollar fell 5.43% throughout the year.
On December 28, the ground RMB against the US dollar closed at 6.8658, with a cumulative decline of 3.538 basis points, or 5.43%. The middle parity of the RMB against the US dollar was reported at 6.8632. As of 2018, the middle parity of the RMB against the US dollar was adjusted to a total of 3553 basis points, a decrease of 5.18%. Experts generally hope that the depreciation pressure on the RMB exchange rate will weaken next year, and the overall foreign exchange market will stabilize. (Reporter Gu Zhijuan)
The yuan's central parity against the US dollar fell 5.18% throughout the year.
From the last trading day of 2017 to the last trading day of 2018, the exchange rate of the ground RMB against the US dollar in 2018 fell by 3.538 basis points, or 5.43%.
This year, the two-way wave of the RMB exchange rate against the US dollar on the coast has increased, and the annual amplitude has reached 7261 basis points. At the start of the year, the land-based RMB exchange rate against the US dollar went a long way on February 7, reaching a peak of 6.2519, the highest since exchange rate reform in August 2015. In late April, landline renminbi entered the depreciation channel, which fell below 6.6 in end of June. It remained above 6.8 in August and reached 6.9780 on October 31, setting new lows for more than a decade. Since then, the renminbi has risen slightly, and has remained below 6.9 in December.
According to data from the China Foreign Exchange Trading Center, on December 28, the main parity of the RMB against the US dollar was reported at 6.8632, up 262 basis points from the previous trading day.
As of January 2, 2018, the middle parity of the RMB against the US dollar was reported at 6.5079. In 2018, the middle parity of the RMB against the US dollar was adjusted to a total of 3,553 basis points, a decrease of 5.18%.
The central bank repeatedly fired stable exchange rates
When the exchange rate of the RMB against the US dollar approaches 6.90, the central bank resumes countercyclical factors. In addition, the central bank also restarted the long-term foreign exchange risk reserve policy. On August 3, the central bank announced that starting August 6, 2018, the ratio of foreign exchange risk reserves from future business sales would be adjusted from 0 to 20%.
On November 7, the central bank enlarged the move and issued a central bank bill in Hong Kong. The central bank said that the issuance of central bank notes could enrich Hong Kong's high-renminbi financial products and increase the Hong Kong renminbi bond yield curve. The industry believes that the issuance of central bank notes on the offshore renminbi market is a way to regulate offshore renminbi liquidity to raise foreign market interest rates and stabilize the renminbi exchange rate.
In a third quarter monetary policy implementation report released on November 9, the central bank showed that a series of central bank measures released a positive signal and achieved positive results. Market estimates were basically stable, and the RMB exchange rate basically remained stable at a reasonable level and balanced.
RMB depreciation pressure will weaken next year
Zhou Maohua, an analyst in the Everbright Bank financial market department, expects the overall RMB exchange rate to remain stable next year, with a slightly stronger trend and smaller volatility this year. From an external environmental perspective, the Fed's rate hike is expected to slow down, and the Sino-US economy will move from this year to "convergence". From an internal environmental perspective, the Chinese economy is expected to stabilize within a reasonable range, and central bank monetary policy will not flood. Therefore, "stable" is still the main tone.
Wang Qing, chief macro analyst at Dongfang Jincheng, said that the Fed lowered expectations of a rate hike in 2019, from a rise in original interest rates three times to two interest rate increases. The slowdown in the rise in US interest rates is positive for the RMB exchange rate, the situation of rising interest rates and even the reversal between China and the United States will subside, and the space for fine-tuning domestic monetary policy towards easing will also increase. The situation of cross-border capital flows will gradually improve, market confidence and investor sentiment will be improved, and pressure on depreciation of the RMB will weaken. (Reporter Zhang Siyuan)