The sharp rise was short-lived, and the warrants of two markets closed sharply

This online news (Shanghai Securities News Ma Jingyu) On the 21st, warrants in the two cities followed the trend of regular shares and staged a "red green reversal" again. The guidance on the lifting of restrictions on restricted shares issued by the CSRC yesterday became the driving force for the sharp rise of subscription certificates driven by regular shares in the two cities in the morning. Except for the listing of Xingui Tsingtao Beer CWB1, subscription varieties such as Wuhan Iron and Steel CWB1 rose by more than 10% in the session. But in the afternoon, there were several waves of rapid declines in the positive shares, and the warrants also killed the green market in a large area.

By the end of the day, the 14 warrants traded in the two markets had dropped by 11 and rose by 3, with Tsingtao Beer CWB1 leading the way with an increase of 6.72% to close at 4.143 yuan. The warrant once relaxed its increase to nearly 30% in early trading, but then it was gradually pressured back, with daily turnover reaching 3.155 billion yuan. The put certificate of China Southern Airlines also rose 2.00% to 0.613 yuan, with a daily turnover rate of 160.29%. In addition, Maanshan Iron and Steel's subscription certificate received a slight bonus, with an increase of 0.35% to close at 3.152 yuan.

The decline of decline warrants all exceeded 1%, of which 7 warrants fell by 5%. Following the sharp fall last week, the petrochemical warrants continued to open high and lower today, following the decline of positive shares, and finally closed at 1.204 yuan with a decline of 7.81%. In the session, the new low since the listing was 1.190 yuan, the daily turnover rate exceeded 100%, and the turnover was 3.956 billion yuan.

Galaxy Securities believes that the absolute price of petrochemical warrants has always been the lowest among all the warrants, but the sharp drop of petrochemical subscription last week and today also fully shows that even such low price warrants are not relatively safe varieties, and there is still room for a sharp decline. Investors should refer to the trend of positive shares, not just the absolute price.