Source: China News Agency
China A shares ushered in heavy changes on the 13th.Since the day, the real -time transaction volume of northbound capital has not been disclosed.
Recently, all limited companies in Hong Kong transactions and settlement (hereinafter referred to as the Hong Kong Stock Exchange) announced that the adjustment of the real -time turnover and daily amount balance of the north -directional trading will be officially implemented on May 13.This also means that starting from the 13th, the real -time transaction volume of the northbound capital will no longer be disclosed.
The so -called northern -directional funds generally refer to the transaction capital of buying the mainland stock market stocks through the Shanghai -Shenzhen -Hong Kong Stock Connect mechanism, which is the result of deepening interconnection in the capital market in the Mainland and Hong Kong.
In November 2014, the stock trading under the Shanghai -Hong Kong Stock Connect was officially launched, and the start of this mechanism marked the starting point of northbound funds.In December 2016, the stock trading under the Shenzhen -Hong Kong Stock Connect began, further expanding the scope of investment in the northbound capital.With the opening of these two "channels", the northern direction of funds continued to flow into A shares, and its market influence in A shares was increasing.
According to the data of financial data service providers, since May 10, this year, as of May 10, the net inflow of the northbound capital inflow of A shares is about 79.086 billion yuan; since the opening of the Shanghai -Shenzhen -Hong Kong Stock ConnectFlowing 1847.388 billion yuan.
In April this year, the Shanghai -Shenzhen -Hong Kong Exchange announced simultaneously adjusting the information disclosure mechanism of the Shanghai -Shenzhen -Hong Kong Stock Connect trading information.Among them, after the adjustment of the Shanghai -Shenzhen Stock Connect, the main arrangements are arranged as follows:
When the amount balance of the day is greater than or equal to 30%, the "sufficient amount" is displayed; when it is less than 30%, the amount balance is announced in real time.After receiving the market daily, the total transaction volume and total number of Shanghai and Shenzhen Stock Connect, the total transaction volume of the ETF (exchange trading fund), the list of ten major transaction securities (including ETF) and its total turnover, and the aforementioned aforementioned monthly and annual annual annual announcementSummary of data.The 5th Shanghai -Shenzhen Stock Connect Trade Day announced each quarter that the total number of holdings of the Shanghai and Shenzhen Stock Connect of the Shanghai and Shenzhen Stock Connect of the Shanghai and Shenzhen Stocks and the number of Hong Kong settlement participants held it.
The above -mentioned adjustment points in two stages: In the first stage, the Hong Kong Stock Exchange completed the adjustment of real -time transaction information in the Shanghai and Shenzhen Stocks.The first stage was implemented after three months.
For this adjustment, the relevant person in charge of the Shanghai and Shenzhen Exchange stated that the arrangement of the information disclosure mechanism of the Shanghai -Shenzhen -Hong Kong Connect trading information disclosure mechanism was initially to effectively reveal and remind investors' transaction quotas, but the frequency and content of the disclosure and content and A sharesThe general habits of market information disclosure are different, and they are different from the general practices in the international mainstream market.Based on the home principles, the Shanghai -Shenzhen -Hong Kong Exchange shall comply with the regulatory regulations and business rules of the transaction activities, that is, the relevant trading activities, and comprehensively consider the structure characteristics and information disclosure practice of market investors in the two places.The mechanism is adjusted.
In response to the impact of this adjustment on A shares, Cinda Securities Analyst Yu Mingming believes that the new information disclosure arrangement effectively streamlines the information of the mid -to -mid and after the market, and the content and frequency of the actual disclosure will be the current requirements of the public fund.In line, it is conducive to maintaining the consistency of the overall information disclosure of the market, improving the adaptability of information disclosure and market development, and ensuring that investors obtain the fairness of information.
Guoyuan Securities Analyst Zhao Dongmei said that the real -time transaction volume of northbound capital is no longer disclosed. From the medium -term perspective, it will help enhance market stability.
Zhao Dongmei explained that since 2019, due to the sharp net inflow of northbound funds and the rise in A shares in the same period, it has strong consistency.This adjustment is conducive to reducing the interference of the market emotions in the market and improving the overall stability of the market.
Qu Fang, an investment consultant of Wanlian Securities, said that the disclosure of stopping the real -time transaction volume of Northbound capital is conducive to the mentality and expectations of stabilizing A -share investors.In addition, this move also helps reduce the space for institutional investors, especially the fluctuation operation and leverage operation of quantitative institutions, and is conducive to market stable operation.
