Rebirth of the Capital Legend

Su Yi stared at the unilateral plummeting trend of the two markets, with a calm expression, still patiently waiting for the opportunity.

The stock 'Teli A' he is following has opened at the daily limit today. It has already exceeded the daily limit for 5 times in a row. The stock price has almost fallen back to the position in August 14 before the start of this bull market.

However, although its stock price has completely wiped out all the gains in this bull market.

However, under the severe liquidity crisis in the market, panic selling on the limit-down orders has increased day by day, and it has become a completely irrational decline.

Of course, it's not just the 'Special A' check.

In the two cities, except for a few core blue-chip stocks, there were no other stocks that had time to declare an emergency trading suspension.

The trend is basically the same as that of 'Teli A'.

Affected by this extreme panic selling sentiment, it was also squeezed by the overwhelming amount of chips from on-site financing and off-site leveraged capital groups who unconditionally liquidated their positions and exited.

The two markets had just opened in less than fifteen minutes.

Under Su Yi's attention, the ChiNext Index, the Small and Medium Enterprises Index, and the China Securities 500 Index once again plummeted unilaterally to around 6%.

Then, for the rest of the day, until closing at 3 p.m.

These major indexes have been trading sideways at this point of decline and have never moved again. They have completely shown a horizontal straight-line fluctuation trend similar to the stock limit-down pattern.

And this kind of trend...

It does not mean that market liquidity has been restored, nor does it mean that the index has bottomed out at this level.

It just means that when more than 500 stocks are urgently suspended, cannot be traded, and cannot fall, the 6% decline position is the actual limit position of several major indexes.

This also means that when these major indexes are in a 6% decline position.

In the market, the core blue-chip stocks that are strongly protected by non-brokerage institutions are basically all at the lower limit.

However, even if more than 500 stocks in the two cities were suspended from trading and these stocks did not participate in market transactions, the shadow of the 'thousand-share limit drop' still hung over the market at the closing time and continued to devastate all shareholdings in the market. The investor's mind.

It can be said that such market trends and such market performance.

It can no longer be described as tragic. It is a complete destruction of wealth and a complete stock market crash!

"Ten years of accumulation and destruction overnight. This market is really dangerous."

The two markets had just closed, and while Su Yi was still in a daze, a helpless and sad voice sounded in the trading room.

Su Yi came back to his senses and looked in the direction of the sound.

In the VIP trading room, I saw the man with whom I had argued before, with a heavy face and desperate eyes. He slumped on the chair and sighed longly. After a while, he got up from his seat. When I walked out of the trading room, it looked like... my account was liquidated and I would never come back.

After the market continued to plummet and the stock market fell to the limit of 1,000 shares.

In the past two days, there have been fewer and fewer large traders coming to the trading room.

One week ago, two weeks ago…

Those figures that Su Yi was familiar with are basically invisible now.

Thinking about it, Su Yi couldn't help but look around the trading room. There were only a few other big clients with the same solemn expressions, knowing that this was the cruelty of the financial market.

In his opinion.

The bull market has never been a shortcut for ordinary investors to achieve a wealth jump and cross classes.

It is the fastest sickle to harvest ordinary investors.

"Oh, it's hitting the limit every day. I really don't want to replenish the margin!"

"The market has dropped to the limit of 50 stocks, but when I look back, the Shanghai Stock Exchange Index and the A Index are still in the red market. Isn't this a cover-up?"

"Save the market, save the market...can we save the market by only pulling in heavyweight stocks?"

"The market has completely collapsed. Even if 'Big Finance' and 'Two Barrels of Oil' are all raised to the daily limit, it will be useless."

“It’s already hit five lower limits in a row, how much further will it fall?”

"The regulator's bailout is just a joke, right? Do they understand that the places with the greatest lack of market liquidity are the small and medium-sized boards and the GEM!"

After a brief silence, the complaints in the trading room began to become more and more intense.

Su Yi knew that under the continuous huge and explosive losses, every investor, no matter large investors or retail investors, was full of hostility and anger at this moment.

Therefore, he did not talk too much with everyone.

After simply observing everyone's emotional expression, he left the trading room alone.

When we walked out of the Huaxin Securities Sales Department Building, it was raining again outside, and the dense rain curtain was occasionally mixed with lightning and thunder.

Su Yi opened his umbrella, walked into the rain curtain, and looked into the distance.

I saw that the entire financial city was enveloped in a heavy rain of lightning and thunder, and no one knew when the heavy rain would stop.

In the evening, the heavy rain was still falling.

The water vapor contained in the clouds, after accumulating for more than ten days, suddenly poured down, as if it would submerge the entire city.

According to news from the financial market, more and more listed companies are beginning to apply to regulators for emergency trading suspensions, thereby avoiding the risk of liquidating pledged equity.

Since the regulatory authorities have opened the door to many listed companies yesterday.

Nowadays, facing more applications for suspension of trading from listed companies, there is no reason to refuse.

As a result, when the regulatory authorities unanimously agreed to the application of major companies to suspend trading, this practice of avoiding the decline in stock prices through emergency trading suspension began to spread crazily to all listed companies in the entire market.

Finally, the next day arrived.

July 7, Wednesday, before the opening of trading in the two markets.

Across the entire market, a total of 1429 companies have been in a state of emergency trading suspension, accounting for more than half of all A-share listed companies.

And because more than half of the companies chose to suspend trading.

Market liquidity has therefore become scarcer.

This directly led to the fact that after the market was officially traded, countless major capital groups, especially the public fund groups, who were locked up in the market, had to deal with the large-scale forced redemptions by off-site investors when the small tickets had completely lost their liquidity. Next, blue-chip stocks with better liquidity were sold crazily.

And when a large number of public funds and various financing companies compete for liquidity, they sell passively at all costs.

The long and short forces in the market have begun to become completely unbalanced again.

In this way, the rescue team composed of '21 brokerage institutions jointly invested 1200 billion funds', at this time, it will no longer be able to support the Shanghai Stock Index as it did yesterday and the day before yesterday.

In the end, the bullish power of the market was quickly destroyed.

The Shanghai Composite Index also collapsed, driving a number of central enterprises and state-owned enterprises' weighted blue-chip stocks to all fall to the limit just like the small and mid-cap stocks in the past few days.