2, the withdrawal of foreign capital began to spread from Hong Kong stocks to A shares. After the northward funds net selling 31.6 billion last week, this week, Monday and Tuesday continue to massive selling more than 20 billion, the northward funds position is more blue chip stocks, foreign capital further selling directly lead to the continuous decline of A shares.
3. The epidemic is still recurring, and worries about the economy are further intensifying. In the past 2 days, the number of people diagnosed with the epidemic across the country is still rising, and production and business activities around the country have been affected to a certain extent. The market is worried that the downward pressure on the economy will further increase, which will have a certain adverse impact on the fundamentals of listed companies, so they choose to sell in order to avoid the risk.
4, sudden industry news led to the further spread of market panic. Afternoon news about the medical services industry hit pharmaceutical services-related companies, which again triggered the market for the industry's strong regulatory expectations, swarming sellers intensified the market's panic.
1, in the view of a number of fund companies, behind the A-share market crash, is a series of factors combined to lead to a strong market panic, confidence is relatively fragile, including geopolitical conflict has not yet been quelled, tightening global liquidity and domestic expectations of interest rate cuts in the absence of investors on the cooling of expectations for economic growth and the sudden seriousness of the epidemic situation, and so on. As analyzed by Huaxia Fund, on the one hand, by the Russian-Ukrainian situation and the subsequent sanctions, foreign capital outflow from emerging markets, for six consecutive days, A-share northward capital outflows, under the influence of this factor, the market produces a localized stampede.
2. On the other hand, the spread of the epidemic, interest rate cuts fall through, the market is more cautious about the economic outlook, leading to a significant contraction in overall risk appetite. In addition, the continued plunge of Chinese stocks in overseas markets added to the short-term panic. From historical experience, the short-term funding structure tends to be more fragile during the stage when sentiment dominates market logic, and indices are panic overshooting, with market performance decoupled from the fundamental situation. As for the reasons for the volatility, Win-Win Fund expressed similar views, mainly from the domestic interest rate cut expectations fell through, the expectation of stabilizing growth weakened, as well as overseas liquidity tightening. Yong Win Fund said, on the domestic side, the market's expected interest rate cut did not come as expected, January to February economic data significantly exceeded expectations, resulting in a significant weakening of the policy expectations of stable growth, stable growth related to the real estate chain, infrastructure chain and the financial chain have seen significant adjustments.
3. Overseas, the risk of upward global inflation is still unrelieved, and under the pressure of inflation, the Federal Reserve may raise interest rates for the first time this Thursday morning, meaning that overseas monetary policy will be further tightened. In addition, there are also concerns about the outflow of overseas funds, in last week's Norwegian sovereign fund will be a Chinese company out of the investment list, the Australian pension also announced the withdrawal of China's listed stock market, the recent part of the foreign investment banks to give more downgraded ratings of the guidelines, triggering the market for overseas funds continue to flow out of China's market concerns, the north of today's net outflow of funds 16 billion. Jinxin fund Kong Xuebing said, since March, market participants in the stabilization of growth effect is expected to be more pessimistic, superimposed on the impact of epidemics and geopolitical conflict disturbances, the market risk appetite downward obviously, increased volatility further shook the confidence of the stock.