Early Hong Kong and Macao Sudden Search

Yi Ruimin

Recently, the Qing Dynasty fake was idle at home, regained the harmonica that had been discarded for many years, and blown it for more than an hour; when the ripples of Chen Baiqiang were blowing, the piano sound took me back to the end of 1999.

The quiet life seems to be a lake, all of which are angry with hellip; hellip;, the mother was hospitalized and hospitalized, and the TV's promotional video came from the wealthy fund.Mother is always worried that we are too pressured to supply the building and tell us to save and frugality.

Just after the Hong Kong Government bought a large number of stocks in 1998, after buying a large number of stocks to stabilize the exchange rate, it decided to set up a wealthy fund to sell a lot of stocks to sell the market in batches.As the first trading open index fund (ETF) in Hong Kong, the listing scale of the wealth fund reached 33.3 billion Hong Kong dollars (S $ 5.83 billion).After discussing with my wife, I will subscribe for all about Hong Kong dollars only about HK $ 200,000.

When the Hong Kong Financial Authority chose the soundtrack for the TV promotional video of Yingfu Fund, he had no idea between Teresa Teng's sweetness and ripples of Chen Baiqiang.The HKMA formed a selection committee and finally rippled by democratic procedures.

Last year, at the 20th anniversary of the listing of the Fund, the Fund announced that during this period, the total total return was nearly three times.My investment of 200,000 yuan has been returned almost after receiving 20 years of dividends, and the stock price has doubled.

Of course, the three -fold return is good, but compared with the stock Wang Tencent, it is far from the stock. Since the listing of the stock price in 2004, the stock price has increased by 700 times.Tencent has always become a hot topic of shareholders, and always wants to have another 100 times stocks in Hong Kong.

It is difficult to find a hundred times, and many shareholders pursue the first ten times of their lives (Ten Bagger).The word was first carried forward by the legendary investment master Peter Lynch. Borrowing the terminology Bagger on the baseball field, Bagger described the buying shares such as a barrier.Of course, if investors want to enjoy the return of ten times stocks, they must generally hold the stock for a long time.

However, many shareholders have complained whether TV or radio programs or newspapers' financial columns.I have participated in the investment in Hong Kong stocks for many years, but I have never been as frustrated as in the past two years. They have only risen in Hong Kong stocks, and most of the rest have not risen. The HSI performance is far behind the world.

The stock price of all technology stocks is at a high level. Now that it may not be a ten -fold stock, shareholders are afraid to rush into the market, and the scientific and technological war between China and the United States is also invisible.The Hang Seng Technology Index, commonly known as the Hong Kong version of the Nasdaq index, was launched for about a month. The first trading fund that tracked the index of the index also came into being.Southern Dongying Hang Seng Technology Index ETF was listed on Friday, but then 3033 incidents occurred.

3033 is the share number of the ETF of the South Dongying Hang Seng Technology Index ETF. The initial asset value of the stock is only 180 million Hong Kong dollars, but the total turnover of the day is as high as HK $ 3.045 billion.

The problem is that during the bidding period of the market, theoretically, the fund unit worth HK $ 7.5, investors were sold at 20 yuan, that is, the price of ETF was nearly 1.6 times higher than the net asset value (NAV).It turned out that because of the Hang Sengke of the Hang Section, the product became a sought -after goods, and some investors did not know the operation of ETF. They did not pay attention to the relationship between the actual NAV and the unit fund, and mistaken ETF as a stock.

Southern Dongying Hang Seng Technology Index ETF is different from Yingfu Fund. The former is not available for subscription before listing.When the market dealer (circulation provider) is absent from the bidding period of opening the market, and when the demand for goods is great, the price is greatly deviated from the actual value.

At less than three minutes after opening the market, the price of the ETF fell more than 60 % from a high level.At the 200 units per hand, retail investors buy one hand at 20 yuan, and the cost of 4,000 yuan will lose about 2,400 yuan in three minutes.Those investors with a total of more than 1.55 million fund units in their expensive goods have lost more than 15 million Hong Kong dollars.

Market participants believe that the current mechanism of the Hong Kong Stock Exchange has not covered the problem of sharp fluctuations in the market before the opening of the ETF market. As a result, retail investors have lost their hands this time, and believe that the opportunity to recover losses is slightly slightly.Expert analysis is that the ETF dealer mechanism has room for improvement.

Regardless of the wealthy fund or the Hang Seng Index, the ETF is a stock fund that tracks the index. It is impossible for the index to increase several times or ten times in the short term.ETF should be a good choice for long -term investors who are pursuing stable rewards; if you want to pursue ten times the shares, find another choice.

For example, Meilan Airport, which focuses on the concept of Hainan Free Trade Port, is ten times the stock this year, from 5.53 yuan at the beginning of the year to 60 yuan last month.However, the stock fell to 45 yuan yesterday, and it was necessary to wait for the new news to sprint.

In any case, investment involves risks. Among the friends I know, there are not many people who have obtained great profits in Hong Kong stocks.Instead, some people are only in their 40s, but they have lost their investment in the stock market, and the net worth has gone. The Hong Kong stock market is a big scam.

I will retire, and I hope that the future life will continue to be like ripples: life is light, it seems to be flowing; as for sweetness, it seems a bit unreal, only in dreams.Therefore, I will not pursue ten times.