Rebirth: The Financial Giant

At 13:24, traders and fund managers under Tiansheng Capital began to take action. Over-the-counter funds entered the market in large numbers, including industry ETFs under Tiansheng Fund, which also increased their holdings.

The heavy holdings of these industry ETF funds have not reached the limit, so there is plenty of room to increase holdings.

Previously, Zhongxin Construction Investment, a popular leader in the brokerage sector, received a large amount of funds entering the market to buy the bottom, and the stock price also started to rise sharply from the underwater position of -8%. Five minutes later, Zhongxin Construction Investment turned red. Not only did it not Stop and release more volume to continue the attack.

At the same time, Tiansheng Holdings has also begun to make a big push. The stock king has been sitting there since it plunged to -6% in early trading. At this time, large orders of hundreds of millions of dollars have begun to continue to be purchased, and along with this The stock price rebounded and climbed.

At 13:31, major market software pushed a news:

[The securities sector rebounded in the afternoon, with Guoyuan Securities pulling up the daily limit, Zhongxin Construction Investment rising more than +5%, and Tiansheng Holdings turning red. 】

With the sudden rise in the securities sector, investors were caught off guard, but no one dared to follow. The vast majority of investors were just watching the excitement, with the attitude that if you follow the rise, I will lose.

The main reason is that during the recent period, stock investors who ran into the market to chase higher prices were treated extremely miserably by the securities market. It was promised that the market would reach 4,500 points.

As for those latent stocks that have been lurking in the new year, they are now gradually reducing their positions and taking profits.

Stock investors ridiculed in the message area that it was the same old routine, and the main force once again brought in Taiwan Securities to protect the index.

As the securities sector rose, the index did rebound, and the effect was outstanding.

At 13:40, Tiansheng Holdings rose by +4.68%, the rebound amplitude exceeded 10 percentage points, and the turnover exceeded 20 billion yuan again. The securities sector turned red and rose by +1.32%. As long as you open the stocks in the securities sector, you will find that, There are only 10 stocks in the entire sector that are in the red, and half of them have not increased by more than 2 points.

Other brokerage stocks have all fallen into the water early, and many of them have dropped to the limit. However, the securities sector has soared by more than 1 point, but the securities ETF has suddenly turned red again.

Obviously, the weight ratio of the stock king is too large. If the stock king rises to the daily limit, even if all other stocks in the sector fall to the limit, the securities index will still rise in the red market.

In addition, the weight of Tiansheng Holdings in the Shanghai Stock Exchange Index is also very large. It rebounded and rose sharply, driving the Shanghai Stock Index to rebound all the way. The decline narrowed to -1.21%, and the Shanghai Stock Index was pulled up and rebounded by more than 1 point.

After 14:00, Tiansheng Capital’s own funds began to purchase some ETF products of its subsidiary Tiansheng Fund to further take on the long market. At the same time, the company’s active funds also began to purchase heavily.

At 14:16, all the closed orders on the lower limit of Muyuan Shares were eaten, and all the closed orders on the lower limit of Xinxiwang were eaten, including Zhongxing Communications, Yongyou Network, Shennan Circuit and other large-cap stocks that had their limits hit in retaliation. It's all open.

However, after prying open the lower limit, there was no ignition to push up. After opening, it fluctuated near the lower limit. Anyway, as long as the price fell to the limit, we would take orders, but we would never push up, just let retail investors play inside.

It is worth mentioning that among these large-cap blue-chip stocks that were pushed down to the limit in early trading, there is one stock that Tiansheng Capital did not spend to boost its price, and that is Wenshi Shares, the number one leader in the pork sector.

Moreover, this stock has never appeared among the Tiansheng Shenzhen 100 Index constituent stocks from the beginning to the end. It is only held by several other closed-end active funds under Tiansheng Fund and Tiansheng Agricultural ETF Fund. As a passive index fund, today They also bought some shares evenly, but the total holdings of Tiansheng Capital's concerted actors did not reach the mark-up line.

In fact, many people don't understand why Tiansheng Capital has not included this stock in the Tiansheng Shenzhen 100 Index. The main rise in the pork market this year has also increased by almost 1.5 times, and it is still a leading pork stock.

Many people also used this to discuss that Tiansheng Capital also made mistakes. In fact, this stock has basically reached its peak after opening higher this morning, and the closed-end active funds under Tiansheng Fund are also reducing their positions.

On the contrary, Muyuan Shares was included by Tiansheng Capital into the ranks of its Tiansheng Shenzhen 100 Index constituent stocks, and its shareholding scale has long exceeded the quotation line. It had already raised its quotation for the first time in June 2017, and in 2018 During the annual shock and decline, the holdings were increased several times.

Currently, the floating profit of Tiansheng Capital's position in Muyuan Shares has reached +312%, which is a completely different treatment compared to Wenshi Shares.

As Tiansheng Capital took over the market in a big way in the afternoon, fellow fund managers who had originally sold the market in retaliation were discouraged. After all, it would not be of much benefit to them to sell the market. After cashing out, they still had to buy it back. The core of Big A Those asset targets are all Tiansheng Capital's heavy holdings, and they cannot be avoided no matter what.

Miraculously, there was no diving at 2:30 in the afternoon, and the board was stable.

After the close, the Shanghai Stock Exchange Index fell by -1.09%, the Shenzhen Component Index fell by -2.53%, and the ChiNext Index fell by -4.49%. The three major indexes all had a negative K line with a lower lead, and the worst one was still the ChiNext.

To a large extent, Wenshi shares were stuck on the lower limit and had no funds to eat up the closed orders on the board, which caused the market's bottom-hunting funds to be timid. Although it also rebounded, it was far less powerful than the rebound of the Shanghai Stock Index.

In fact, there are many factors, and ultimately it is multiple factors that lead to the final result. Yesterday, the GEM rose to the triple top neckline position from March to May 2008. The pressure is self-evident, and it has already entered. Staged topping cycle.

From a technical analysis point of view, today's daily K-lines of the Shenzhen Component Index, GEM Index, and small and medium-sized board are all engulfing lines, high and large negative lines, engulfing a positive line, or even a semi-yang line. Moreover, the K-line combination pattern in the past three days has a top-part structure.

Only the Shanghai Stock Index is not the same, it is still an adjustment at the daily level.

Today’s index comment section is shouting that the market is over and has peaked. The big negative line in today’s session still scares many retail investors, especially those who chased the market in the morning. However, retail investors are shouting that the market is over, which often means it's not finished yet.

However, the end is not far away. The last bull trap has not come out yet. According to historical experience, the peak market trend after the adjustment is a compensatory increase. It is also the stage for demon stocks to leave the market. At present, Shunhao Demon Emperor is still Continuing the posture of connecting the king, it is obvious that it is not over yet.

…

Tiansheng Capital headquarters, in the CEO's office.

Han Qiulin was in the office, and Lu Ming, who was sitting on the boss's chair doing work, closed the document she handed over, rejected the request on the document, and said: We can no longer increase our holdings in stocks in the insurance industry. On the contrary, within this year, we will Zhongguo Ping An should be removed from the Tiansheng 50 Index constituent stocks.

Eliminate Zhongguo Ping'an? Han Qiulin was also surprised to hear his decision: The insurance industry is currently very hot. If Zhongguo Ping An is eliminated, we will have no long-term insurance stocks.

Lu Ming smiled and said: It just means to remove it from the Tiansheng 50 Index, it does not mean to completely withdraw. Tiansheng Capital has the responsibility to support the market, and Zhongguo Ping An should still hold it. Complete liquidation is not realistic, but at present The proportion of 6.69% of the total share capital is enough, and the holdings can be appropriately reduced to less than 5% in the future.”

After a moment of pause, Lu Ming sighed and said: Although the insurance industry is quite popular now, the decline in insurance industry income is a major trend in the future. The most important reason is that our population turning point is about to arrive. This industry is actually It is highly related to population, and the impact of population aging on the insurance industry is not only an expected decrease in income, but also an increase in expenditure.

“Many insurances now say they will protect you until old age, but you haven’t spent money yet. Young people who have just bought insurance will definitely not get any serious illness and will not have to spend money. This is basically something that needs to be considered in 20 or 30 years, so In this state, the real problem for the insurance industry is that risks may increase faster in the future, and the best time for the development of the domestic insurance industry is actually gradually passing.”

In terms of demographic structure, what is the common problem now? The income of young people is not high enough. At the same time, a large number of people are getting older. Furthermore, many high-income groups have unstable incomes and are not willing to put their money where their mouth is. The extra money is put into insurance.

Moreover, many insurances in China are originally investment in nature. There are also many insurances that are actually investment and financial management. I, Tiansheng Capital, do this work. I can do it myself and why do I need to invest money in you? So? On the contrary, it has laid new risks. Generally speaking, for the future of the insurance industry, a downward trend can be seen, and this year is the best time to withdraw.

If not for the concern about the impact on the current market, Lu Ming even wanted to issue an announcement to reduce his holdings immediately. Zhongguo Ping An announced the reduction of its holdings with a market capitalization of trillions. The market would definitely have dropped by 2 points the next day as a mark of respect. Then Zhongguo Ping An itself must have fallen to the limit to suppress the shock.

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