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经济预期理论在中国的证券市场上最能得到正确验证,当大多数股民一定要往某一行情看时,结果就真的发生了。今年的7月1日中国资本市场的基本大法《中华人民共和国证券法》经六年风雨,终于正式实施了。尽管此前,政策制定者及各方舆论纷纷表示看法,称其为中国证券市场发展的一大利好,一些股评人士也声言深沪两市将以满盘红迎接它的面世。可让人们大跌眼镜的是:当日开盘不仅跳空低开,而且呈火箭式下跌,2/3以上的股票全部跌停,两市跌幅达6—7%,这实为历史罕见。尔后虽然各方有多种评价,不过有一点可见,在《证券法》出台前相当一段时间里,人们传言由于此法中有多项禁止条令一旦实施,股市中许多违规资金便将离场,股市的严重失血将会导致指数深幅调整。这种心态一而再再而三的随大盘的逐日上升而同时加深。结果呢?《证券法》出台当日,市场上便是传闻不断,流言四起。实践再次证明中国股市是夹杂着多少由政策市、消息市、概念市、心态市复合的不成熟,长期在不规范的市场运行中酿就的中国股民心态一经风吹草动,便不再有大家风范。当日股指大幅下泄反到成了先知先觉者们意料之中的事了。我们从此恰恰可以反观,《证券法》的施行确确实实是中国证券市场走向健康发展的一个长期利好,也是4000万股民的真正福音;股市有风险,但只要有了规范和理性,那以后有的只是在公开市场中的搏智,而不要黑箱中的提心吊胆、盲目失态了。希望《证券法》出台,真正能够掀开中国资本市场新的、健康的一页,也真正培育出成熟的投资者。
The theory of economic expectations is most correctly verified in China’s securities market. When most investors are bound to go to a certain market, the result really happens. July 1 this year, the basic law of China’s capital market, “Securities Law of the People’s Republic of China” After six years of wind and rain, and finally formally implemented. Although previously, policymakers and public opinions from various quarters have expressed their opinions that it is a good thing for the development of China’s securities market. Some stock analysts also said that the two cities will welcome the launch of the market with full red. People can surprise: the day opened not only jumped low, but also rocket-style decline, more than 2/3 of the shares all limit, the two cities fell by 6-7%, this is a rare history. However, although there are many evaluations by various parties, it can be seen that quite a few years ago before the promulgation of the Securities Law, people rumored that many illegal funds in the stock market would leave after the implementation of a number of prohibitions in this law. Serious blood loss in the stock market will result in a deep readjustment of the index. This mentality again and again along with the daily market rise and deepen at the same time. The result? “Securities Law” promulgated the same day, the market is rumors continue, rumors everywhere. Practice once again proves that China’s stock market is mixed with how many policymakers, the news city, the concept city and the mentality city complex immature, long-term non-standard market operation brewing mentality of Chinese investors is no longer everyone demeanor. On the very day, the stock index was drastically reversed and it turned out to be a surprise to prophets. From then on, we can see exactly that the implementation of the Securities Law is indeed a long-term good for the sound development of the Chinese securities market and a true gospel of 40 million shareholders. As long as the stock market is at risk, as long as there is norms and rationality, It is only in the open market, wisdom, rather than the fear in the black box, blind gaffe. Hopefully, the promulgation of the Securities Law will truly open a new and healthy page in the Chinese capital market and truly cultivate a mature investor.