Bionic Power Company's unexpected performance forecast also allowed investors to see the charm of technology stocks. Currently, technology stocks account for an absolute proportion of the SGX market, which is also the reason for the large fluctuations in the SGX market.
The charm of technology stocks lies in the characteristics of high growth. Although the current P/E ratio of hundreds of times can be called a market dream rate, as long as the value breaks through, the P/E ratio of hundreds of times can be quickly digested within one or two years, blowing up the bubble.
Can be filled by value growth.
Of course, the risks are also very high, and not every technology stock can rise.
Investors are certainly aware of this, so the label "Galaxy" has extraordinary value. If you look at the hundreds of billion-level technology large-cap stocks on the SGX, the price-to-earnings ratios are actually not low.
These companies are in the same industry segment, and investors give them a higher price-to-earnings ratio than other technology stocks. The reason is also very simple. The label "Galaxy" will make investors feel much more reliable, and
Companies in the galaxy are often leaders in their respective industries, so the probability of explosion is much lower, and their growth potential is not weak.
In this way, investors are naturally more willing to hold such asset targets, and they are willing to pay even if the premium is large.
…
But in the capital market at this moment, at about 10 a.m., the increase of the New Securities 50 Index expanded to 0.65%, and the index rose to 4583 points, officially breaking through the historical high of 4582.78 points on September 26, 2018 last year.
reached a record high.
When the NSE 50 Index reached a new high, the big A investors were also excited. Half a month ago, everyone thought it would hit a record high in one fell swoop. However, the breakthrough failed three times, and everyone thought it was impossible before the holiday.
.
Unexpectedly, the SGX market gave such a surprise on the last day before the holiday. It broke through when everyone thought it could not be broken.
Shareholders said they can now celebrate the Chinese New Year happily.
In the afternoon, the NSE 50 Index further expanded its gains, not only breaking through a record high, but also standing above the 4,600-point mark on the last trading day before the Spring Festival.
The two markets next door also performed well today. The Shanghai Stock Exchange Index also recovered the 2,600-point mark today. Stocks in the three major markets showed a general upward trend. Only more than 200 of the more than 4,000 stocks were in the green market, and the rest were in the red market.
The large financial sector performed well. The brokerage sector, which has recently experienced five consecutive losses, opened higher today, with the sector rising by nearly 3.5 percentage points.
The performance of securities companies in 2018 is not bad, especially compared with the current position, it is definitely in the historically low valuation range. However, the trend of this sector is often not based on performance.
As of the close, the NSE 50 Index closed up 1.61%, at 4626.81 points. The index went out of the bald and barefoot positive line, and the closing price was the highest price of the day; the Shanghai Composite Index closed up 1.30%, at 2618.23 points; the Shenzhen Component Index rose by 2.74%, at 7684.00
point.
The total turnover of the three major markets was 1.0684 billion, of which the SGX market had a full-day turnover of 806.7 billion.
From the perspective of volume and energy, today's market is shrinking because it is the last trading day before the Spring Festival, and there is no large-scale inflow of OTC funds. This is a domestic characteristic, because the current time node is the New Year and the holidays, and everyone has to spend money.
.
There is not much outflow of funds on the market. Today's outflow can only lie in the account and cannot be withdrawn. Moreover, the market has soared, it is better to hold it. If you want to withdraw the funds that need to be withdrawn, all the funds that need to be withdrawn have already left yesterday.
…
With the arrival of the Spring Festival holiday, which lasts until the sixth day of the first lunar month, which is the weekend of February 10, this day is also the last day of the Spring Festival holiday. Fang Hong also returned to his hometown for the New Year this year and returned to the new city today.
Meditation Villa.
At this moment, Fang Hong was in the large living room on the first floor. There were several bundles of bright red cash notes placed on the table near the sofa in the living room. Each bundle contained 2,019 red notes. The thickness of a single bundle was about 25 centimeters.
Lin Yan, Lin Yun, Evelei and the other girls are also back. At this moment, they are all gathered in the living room to wish Fang Hong New Year's greetings. Naturally, the New Year's red envelopes are indispensable.
Fang Hong, who was sitting on the big sofa in the living room, crossed his legs and looked around at the girls and said with a smile: "Each of you can carry a bundle. You can take it yourself."
The sisters laughed in unison and said, "Thank you, Brother Hong."
After saying that, they each carried a bundle. The sisters were all filled with happy smiles after receiving the red envelopes. This has become a routine. Last year, the bundle contained 2018 red tickets, and next year there will definitely be 2O2O red tickets.
After a while, they all went about their business. Tian Jiayi then came to the living room and brought him a message: "Do you know the news that just came out not long ago? There are rumors going around that the two cities next door are also going to release news.
New delisting regulations.”
Hearing this, Fang Hong half-smiled but said, "I know how to play."
Tian Jiayi sat down next to him and said: "The management of the two cities did not come out to respond in time, which is quite intriguing. Judging from the market reaction, everyone was very excited and interpreted it as good news, thinking it came from the SGX market.
The pressure forced me to make changes passively.”
Fang Hong said calmly: "Let them go and watch the show. Anyway, the SGX market is also gaining momentum now."
Tian Jiayi turned around and said: "In addition, the SGX market has launched a second round of internal discussions on the new delisting regulations. Everyone agreed that we should take advantage of this new regulation to add another one. Encourage companies to self-valuate their quotations when registering for listing.
Companies need to make a reasonable valuation of their own value in the market and provide quotations to the market, which helps to improve the transparency and accuracy of corporate valuations."
Obviously, this supplementary item is a cover for the previous new delisting regulations. The previous rules were that delisted companies should be evaluated by a third-party professional evaluation agency for fair market value, and the listed company would make an assessment to public investors based on this fair price.
Buy back shares.
This chapter is not over yet, please click on the next page to continue reading! However, this rule actually has a loophole, that is, if the CEO of a listed company empties the company through operations such as "vacating the cage and changing the bird", then the third-party agency will
During the evaluation, the result of the evaluation was that the company was insolvent, and it would be reasonable for the stock price to plummet by -99%.
Tian Jiayi added: "According to the SGX, if a listed company commits fraud or violates regulations that results in forced delisting, it must repurchase the shares from public investors based on the valuation quotation given when it was issued. Third-party evaluation
After the institution evaluates the fair value, if the fair value is lower than the issue price, it will be repurchased at the issue price; if the fair value is higher than the issue price, it will be repurchased at the fair price. If the enterprise is delisted due to its own poor management, it will be repurchased at the assessed fair price.
purchase."
This supplementary provision is obviously aimed at fraud. Poor management of a company itself is a long-term process, which will be reasonably reflected in the stock price, which is a downward trend. Investors cannot blame others for their losses. As long as the company discloses information in a timely manner,
Without falsifying performance, investors can only bear responsibility for their own profits and losses. If the company is delisted, it will be evaluated by a third-party agency. The company will be repurchased based on how much it is actually worth. If there is no money to repurchase, it will be liquidated.
For example, when a company was issued and listed, the valuation reported by the issuer was 3 billion. Now it is indeed delisted due to poor management and no illegal fraud. The assessed value is 500 million, then it will be based on 5
Repurchased at a price of 100 million.
But if the company is found to have committed fraud and violations and is forced to delist from the exchange, even if the assessed fair value is 500 million, it will still have to be issued and listed for repurchase based on the issuer's previous valuation of 3 billion.
Because the nature has changed, it has become a company that was killed due to fraud and violations, harming the legitimate interests of all investors. The issuer has to take responsibility for this. The issue price that was quoted before was forced to withdraw, and now it has to be paid according to the price.
Repurchase at that price.
If a company's poor management causes the stock price to plummet, it is due to the investors' own poor vision. The losses will naturally be borne by the investors, and they cannot blame others. However, if the stock price plummets due to the company's fraud and violation of regulations, it is a fraud that harms the investors, and the investors' losses will be borne by them.
