During be being written in 519 prices 20 years for the anniversary that cannot forget
The day that yesterday is 519 prices 20 years, 20 years ago today, in the network guide below, shanghai late stock market is swept low fan, walk out of climb litre of prices considerably. From now on, "5 · 19 " the memory that does not go is wiped in making Chinese investor heart. Although " 5 · 19 " the destiny that prices itself did not escape to return start from terminus, but we are special commemorate " 5 · 19 " , because,be " 5 · 19 " brought enlightenment, especially investor because " 5 · 19 " and the investment faith that burst forth, it is the dawn that brings the travel before us in the Asian banking crisis at that time more. In global finance queasy today, this are attached most importance to especially should.
519 prices review
20 years ago today, namely on May 19, 1999, shanghai is deep what two city sweep 2 years many is low confuse prices, shanghai city was swelled greatly that day 4.64% , deep city is swelled greatly 5.03% . Be wherefrom daystart, open of field of A stock market the big ox city of a surging forward with great momentum, history say " 19 prices of 5 · " . From the point of exponential performance, on card index is 30 short trade day is the biggest go up exceed 64.1% , city of whole wave ox is the biggest go up more than 114% , last a period of time exceeds two years.
In light of broad sense, 1999 " 19 prices of 5 · " the bovine city of open lasts two years in all, according to market index walk along situation feature to be able to divide for 4 phase:
The first phase: Came on May 19, 1999 June 30, 1999 is prices erupts level. This one phase, policy interest is very ceaseless release, on May 16 give an official of the State Council card inspect can refer " mix about farther standard advance security market development at 6 o'clock opinion " , communicated the affirmation that top layer develops to the stock market and reforms, be considered as " 19 prices of 5 · " the fuse of open. This one period, card index is in on 31 short trade in a few days to start by 1058 bits all the way violent wind goes up to 1756 bits, the biggest go up panel height is amounted to 66% .
The 2nd phase: Came on July 1, 1999 September 10, 1999 is exponential concussion is adjusted period. As on July 1 " negotiable securities law " promulgate, the market restores gradually sober, card index was entered on be as long as the concussion of two many months dish whole period, exponential accumulative total drops during 1.75% .
The 3rd phase: Came on September 11, 1999 December 27, 1999 is exponential callback period. Dish whole period hind, because lack the stimulation with further good profit, the index begins to drop callback, inside 3 months the biggest drop more than 20% , periodic a callback extent is opposite bigger.
The 4th phase: Came on December 28, 1999 June 14, 2001 is the index rises 2 times period. Na Sida restrains an index all the way mad go up the investment mood that ignited field of A stock market, after 2000, a walk out of know clearly one year again the bovine city prices of half, card index accumulative total rises on 63.7% , science and technology get go up two city, subject matter, concept suffer ceaselessly hold in both hands, more than 10 share price broke up two times.
In those days ox where today
Network science and technology be considered as " 19 prices of 5 · " the biggest explode dot. Data treasure statistic shows, during prices the biggest go up of more than 5 times aggregate and mutual 20. Among them, expression is best is share of put together art, the biggest go up more than 810% . On May 18, 1999, price of closing quotation of share of put together art is 10.58 yuan, this are climbed for a time 2000 litre reach 64.27 yuan (during 10 turn 5) , after answer authority relatively 10.58 yuan rise more than 8 times. Share of put together art is concept of science and technology of the network when those one of bibcock. And once 100 million install science and technology, Hai Hong to accuse, Sichuan lake hill, also be the absolutely heat of that prices, during the biggest go up all exceed 5 times.
However, to afore-mentioned much " ox " , "5 · 19 " it is transitory only, return to gradually again in the market of Niu Xiong replace this former, be forgotten by later generations place. Data treasure statistic shows, 20 afore-mentioned big oxen in, have 15 a newest price under " 19 prices of 5 · " during maximum price, this meant major stock to use nearly 20 years time, still cannot regain in those days " brilliant " .
Be like in those days Yin Anxia A, never start to 10 yuan, classics of intermediate all previous " 10 match 3 " and " 10 send 10 " , share price is the most rising go to nearly 38 yuan, during the biggest go up more than 6 times. However, in those days nearly 38 yuan of history maximum price that also make this share. Nowadays, in those days Yin Anxia A already more the name is western do poineering work, up to newest, newest price does poineering work western A of more silver-colored wide summer in those days maximum price convert into money is close 90% . In addition, hill of sea of Zhengzhou coal report, 3 love (namely today's joyous luck century (thought fors the time being) ) , 100 million bring science and technology (namely today's China Gao Tie) wait for 9 a newest price relatively " 5 · 19 " during maximum price convert into money exceeds 50% .
Besides the regression of share price, in those days so called " ox " the course recombines more renown, already classics content is person blame. To investor, share price short-term soares admittedly delectable, but the idea that supports without outstanding achievement acclaims eventually " the flower in the month in lens, water " , when " the whip of the market " when falling, the person that leave hype remnant perch is covered firm but with sadness.
After 20 years, "519 " prices stage a come back?
Be in " 519 " prices 20 years during, researcher of business of a few certificate also will the prices this year and " 519 " prices undertakes comparative, think both is a stimulation that shows it is good that clear advantage is given out in policy face under rise quickly, be in greet city of a big ox subsequently.
Money connects Jin Min of negotiable securities analyst to report in research middle finger goes out, a after the Spring Festival this round let most investor sudden the unilateral that prevents not as good as rises prices, logic of the setting that starts from prices, drive, deduce the respect such as process and style feature to look, with 1999 " 519 " the place that prices has not little resemblance.
For instance, look from macroscopical setting, before twice prices is started, we face the problem with dissolve hypostatic industry financing difficult, arouse economic vigor better thereby. And go up in policy face, the high level is A the main tool that regards economy as broken bureau.
In prices feature respect, what the city that before twice prices begins, Shanghai points to is filled with rate level to be in nearly 5 years is low, bring about force empty type rises prices appears continuously.
Even, twice prices is gotten those who go up board piece and related to high-tech.
"Tell on some kind of meaning, 2019 after Spring Festival of the traditional Chinese calendar A this round of prices can be regarded ' 519 ' of prices ' speed edition ' . " Jin Min points out, because a large number of participation of lever capital and the evolution of gimmick of idle fund operation, prices development and deductive speed were accelerated, what include foreign capital power because of orgnaization investor at the same time is powerful, the course that prices returns to face drive from mood drive is possible also will short at in those days.
Zhang Yingbiao thinks, through development of 20 years, a no matter be in,the respect such as structure of market dimensions, investor had appeared very big change, support policy dominant is very difficult give somebody a new lease on life an ox city. And, from " 519 " prices, 2015 " man-made ox city " in light of, lacking what main area supports to rise last hard. "We are opposite in those days ' 519 ' when prices undertakes experience is summed up, had realised, the stock market still has oneself run the rule, the stock market is economic barometer, break away from main area, relying on what propaganda to the enemy at the front line brings to rise blindly is cannot abiding. " Zhang Yingbiao says.
Actually, review the performance of field of A stock market, be in in the stock market more prices erupts below the condition that underestimates a cost, and be in overmeasure to be worth condition in the stock market more next occurrence steep fall. Nowadays, as A of core value moving centre carry stage by stage litre, the bottom that also means field of A stock market actually also is in ceaseless promotion, advantage of integral appraise cost also is increasing ceaselessly, this to follow-up market pick up constitute certain positive effect. From the point of the policy environment that shows level, do not support 519 prices it seems that that kind erupts strength. Meanwhile, below the setting that serves as dominant in the only fund that put an amount, also restraining the stock market to erupt the possibility of 519 prices. Nevertheless, in stock market appraise the value returns to the reasonable, interval that is in relative safety even inside, although the expectation of 519 prices is worth not tall, but the anticipation of get warm again after a cold spell of stock market prices still can be worth to expect. Nevertheless, the market 19 years ago and the game regulation of the market had happened now substantially change, and the situation that goes up together to drop together before is afraid happen very hard, and the profitable difficulty of investor also is in climb ceaselessly litre.
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