The creation of warrants cracked down on "put anger"

□ Our reporter Xu Haiyang reports from Beijing

Unreasonable speculation of put warrants finally gave way to the massive creation of securities traders. Yesterday, two putable warrants in Shanghai Stock Exchange fell into a downward trend. However, the Shenzhen market put without creating a mechanism still bucked the market.

For more than two weeks, the sharp rise of put warrants has always been the focus of this market, and at each stage, speculative funds will focus on one warrant as the leading variety, setting off the market atmosphere and attracting follow on funds. And this leading leader Potash fertilizer JTP1 After delisting, it has become China Southern JTP1. However, due to the creation mechanism of warrants in the Shanghai Stock Exchange, the creation of a large number of securities companies has become a powerful means to curb speculation.

Following the 1.372 billion copies of China Southern Airlines JTP1 created by 12 brokers the previous day, there were 557 million copies of China Southern Airlines put and listed transactions created by six brokers including CITIC, Guoxin and Haitong yesterday, which had a significant impact on the price of China Southern Airlines JTP1. Yesterday, the rise of the warrant slowed down significantly in the morning, and it plunged sharply after midday trading, with a maximum decline of more than 15%. As of the closing, China Southern JTP1 fell 9.07% to close at 2.145 yuan, and its premium rate also dropped to 65.87%. The other is affected by the creation CMB CMP1 It also fell 4.78% under the influence of more than 100 million creation warrants.

There is no creation mechanism for Shenzhen warrants, and its put warrants continue to be hyped by speculative funds. CIMC ZYP1 and Wuliang YGP1 Both warrants continued to rise against the market while the related positive shares rose sharply, with the closing gains of 4.32% and 3.03% respectively. Analysts said that although Shenzhen warrants did not have the impact of the creation of a mechanism, its rise, which was entirely driven by speculative funds, also had huge risks, and investors must not easily intervene.

The overall trend of warrants is relatively low, which is mainly reflected in the fact that the rise of related positive shares did not give them an opportunity to strengthen, which is very obvious in warrants in Shanghai Stock Exchange. However, this trend has also increased the speculative value of warrants to a certain extent, Wuliang YGC1 , Qiaocheng HQC1 and other discount warrants are still good substitutes for related positive shares.