The news reduction news shoots down the broker!Fund Manager Feng Chencheng explained quickly

Black reproduction on Friday! The three major indexes of A shares opened low, the Shanghai index fell more than 2%, and the two cities over 4,200 stocks fell.

Among them, affected by the reduction of fees, the opening of the brokerage sector fell sharply, and the Oriental Wealth fell more than 13%, and the closing of the market fell more than 10%. The China Securities Company Index (399975) fell quickly after the opening. Since then, the low -level vulnerability shakes all day. As of the close, the brokerage index fell 5.83%, the largest single -day decline since March 2020, and the brokerage sector transaction was 38.3 billion yuan. Booth. The sector's individual stocks fell in an all -round way, Oriental wealth fell more than 10%, and Guolian Securities, Guangfa Securities, and CITIC Investment had fallen by more than 7%.

As of the close, the brokerage company ETF (512000) fell 5.55%, recorded 4 consecutive yin, closed at 0.834 yuan, and the transaction was 1.259 billion yuan, which was over 100%from the previous day. In the first two trading days, the Bookstock ETF (512000) received a cumulative net inflow of funds exceeding 147 million yuan.

【ETF (512000) time -sharing chart】

The brokerage sector has plummeted, the market generally speculate, or it is related to yesterday's news.

The latest point of view of Feng Chencheng, ETF (512000), pointed out that the "Opinions on Further Opposing the Opinions of the Institutional Trading Cost of the Systems of Market entities" is released. The proposal "focuses on regulating financial services charges." The brokerage sector is mainly affected by three aspects:

1. Under the current economic situation, in order to improve the business environment of enterprises and reduce the burden of enterprise, the opinions are mainly to reduce the service charges of financial institutions for the service of enterprise entities and further enhance the ability and level of financial institutions to serve the real economy. The reasonable reduction in financial infrastructure is conducive to the prosperity and stability of the capital market.

2. In the past month, the daily turnover of A shares fell from 1.1 trillion to more than 70 billion yuan. In the context of the early track stocks, the market popularity weakened, and the risk preference declined, other speculation interpretations of the brokerage firms' fees were reduced. The plunge of the securities stocks led by Dongcai showed the vulnerability of market emotions. (For securities firms, the transaction costs charged by retail investors include the transaction fee of 0.487 per 10,000 per 10,000, 0.2 percentage of regulatory fees. The latter two calculate the cost of financial infrastructure. The actual number of commissions that the securities firms are reached by retail investors are already very limited.)

3. Although the performance of the listed brokers in the second quarter increased significantly from the previous quarter (+102%), the overall listing brokerage firms still declined by about -26%in the same period last year. The capital market has a certain suppression of valuations for the expectations of securities firms to supplement capital.

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