⊙ Ping An Securities Comprehensive Research Institute
The stock market fell sharply on Wednesday, and the warrant market did not receive any dividends, among which SFC2 of Shenzhen Stock Exchange led the decline of subscription warrants. In terms of transaction, the total transaction volume of the warrant market yesterday was 26.664 billion yuan, 26.94% less than the previous day. Among them, the turnover of subscription certificates was 19.364 billion yuan, a decrease of 10%; The put warrant of China Southern Airlines JTP1 was only sold for 7.3 billion yuan, down 51.29%.
Yesterday, the subscription certificates were once all red in the morning. However, with the downward trend of the Shanghai Stock Index, the subscription certificates began to decline, and eventually all were closed in green. Shenzhen Stock Exchange SFC2 fell 8.27%, ranking first in the list of decline in securities purchases. The performance of steel subscription certificates was poor, and WISCO CWB1 fell 6.86%, leading the decline in this sector. Sinopec CWB1 was relatively resistant to decline. Most of the day, the red market operated. Although the late market turned green, the decline was only 2.60%, outperforming the positive shares.
In terms of transaction, except for the suspension of Shenzhen High CWB1 and Yunhua CWB1, most of the subscription certificates were reduced in volume, and only 3 of them were in high volume. Among them, the turnover of petrochemical CWB1 increased by 50.75%, with the most significant volume. Tsingtao Beer CWB1 turnover slightly increased from the day before yesterday, with a turnover rate of 192.31%, ranking first in the hot list of the two cities. On the whole, the turnover rate of subscription certificates has dropped recently, and the popularity is relatively low.
Yesterday, the decline of the market and the sharp fall of the stock did not trigger the market of China Southern's put warrant. From the perspective of the market, China Southern JTP1 was sideways most of the time, and quickly dived in the late afternoon, closing down 7.09%. This abnormal performance has something to do with the high premium rate of China Southern JTP1 and the approaching maturity date, reminding investors to stay away from this product as far as possible.
