It Is Difficult For Short Selling Agencies To Survive In The A Share Market.

Muddy water attacks, let the market feel scared.

It is inseparable from muddy water from Dongfang paper, Nuo science and technology, diversified global water business to the recent Hui Shan dairy industry and min Hua holdings.

For the listed companies whose impact is hurt, the lesser injury is the impact of market capitalization.

However, the more serious injury is the "flash collapse" of stock prices, even by the delisting of exchanges.

Recently, muddy water has struck again, and has affected the Min Kong Holdings of the Hong Kong stock market.

However, at the moment when the muddy water released the news, min Hua holding price had a direct dive trend, with a maximum drop of more than 10%.

However, in the subsequent trading hours, min Hua holdings made corresponding counterattack moves, and prompted the price to show a sharp rebound, and once recovered the price of "flash collapse" before the position.

In fact, a large number of listed companies exposed by muddy water research are not limited to Hong Kong stocks and stock companies.

At the same time, throughout the global market, short selling agencies are not only muddy, but also include rafter research, Gotham City, Glock J and other institutions. These short selling institutions have great influence on the market and are also uncertain risks for listed companies.

Although muddy water and other short selling agencies, research and disclosure of listed companies around the world, and do not rule out ahead of the short selling strategy, but in the A-share market, these short selling institutions are likely to block, but on A dilemma.

Among them, from the perspective of capital flexibility, Hong Kong stock and other major mature markets are basically open markets, and there are not many restrictions on capital entry and entry.

Flexibility.

However, for the A share market, capital needs to take into account many factors, and the constraint of redemption quota is one of the key factors.

In short, even if the short selling organization successfully attacks a listed company, it may also have regulatory constraints and redemption difficulties.

Moreover, the mature stock market dominated by Hong Kong stocks does not set a price limit and allows T+0 to trade.

As a result, the profit margin of the short selling organization can be improved, and the capital flexibility of the short selling organization can also be conveniently enhanced to improve the efficiency of fund utilization.

But, by comparison,

Not only has the price limit been set up, but it is still in use.

For short selling companies, even if they succeed in sniping, the profit margins are not good enough for a single day, and there are risks in time and in rules.

In addition, short selling tools are not enough, which still reduces the enthusiasm of short selling agencies to enter A shares.

Over the years, although the A share market has gradually increased some trading tools to mature markets, short selling tools are still scarce. It is difficult to meet the short selling demand of short selling organizations.

Among them, the margin trading business as an example, for many years, margin trading is still difficult to get substantive activity, and the slow development of margin trading has also led to an uneven development pattern of margin trading.

Thus, it is difficult for short selling agencies to survive in the A share market, regardless of regulatory factors, market rule factors, or paction environment factors, and paction tool factors.

However, in another way of thinking, the introduction of short selling institutions is not a bad thing. It may have a positive impact on market governance and supervision of fraudulent fraudulent listed companies.

However, the A share market is still not mature enough to move towards this step, and there are still many needs for improvement.

For example, the introduction of class action and the improvement of investor's claim efficiency are also necessary.

Otherwise, on the basis of lacking perfect supporting conditions, willful introduction of short selling organizations or complete copying of the rules of the mature market will not lead to the consequences.

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