splendid star

Chapter 9 Wang Yuqing went to a securities company for an internship
"What? The stamp tax rate for securities transactions has been adjusted from the current 1‰ to 3‰?!" Manager Zhao of the securities company where Wang Yuqing interned shouted out this explosive news as soon as he arrived at the office in the morning.
“Didn’t the Ministry of Finance just refute rumors a few days ago that there is no plan to increase the stamp duty on securities transactions in the near future?”
"When was the news? Isn't it a rumor?"
"What? The news at midnight? This is really a "rooster crows in the middle of the night"!"
"It looks like the stock market is not going well today!"
"Should we notify the customer to ship the goods?"
……
After hearing the news, everyone in the company kept talking about it.
Wang Yuqing is now in the second semester of her senior year. She just came to this securities company for an internship for a week when she encountered this huge piece of news that shocked the country.
Wang Yuqing majored in finance, and her previous understanding of the securities market was limited to books. She was still not sure where the news broke.It's worth making all the fuss among my colleagues.
But the reality taught her a hard lesson: when the market opened that day, there were less than 2000 stocks in the two markets, and more than 900 stocks were firmly sealed at the lower limit.
Yuqing has never seen such a scene before, and is a bit confused!The stock market is a barometer of the economy. The country's economy is developing steadily and rapidly. She has always thought that the stock market should also rise moderately!
After closing, Manager Zhao called Yuqing to the office.
"Please take a seat." Manager Zhao smiled and poured water for Yuqing, "The stock market won't scare you today, right?"
"Manager Zhao, why is everyone reacting so violently to the stamp tax increase?" Yuqing quickly took the water, expressed her gratitude and expressed her doubts.
"Our current transactions are conducted in both directions, buying and selling, which is equivalent to a 600% increase in the cost of completing a transaction. This is one. Second, the market generally interprets this adjustment of stamp duty as an important step of the China Securities Regulatory Commission. A strong signal to take action to regulate the stock market..."
"Oh." Yuqing nodded thoughtfully.
Manager Zhao saw that Yuqing seemed to be confused, and continued: "It's a good time for you to catch up! Since the beginning of 2007, the stock market has swept away the downturn of previous years and entered the bull market. The stock indexes in Shanghai and Shenzhen have soared by more than 80%, and the increase in April alone was as high as 4%. It is now difficult to find stocks under 30 yuan in the market. The Ministry of Finance temporarily issued this tax increase The measures are also aimed at curbing the frenzy of the stock market."
With that said, Yu Qingqing completely understood.
"I called you here today because a big news broke." Manager Zhao said, picking up a just-published securities newspaper and handing it to Wang Yuqing.Yuqing took the newspaper and thought to herself: Is there anything bigger than raising stamp duty? "As of today, the total number of accounts in China's stock market has historically exceeded 1 million, reaching 10027 million. Look how many people want to come to the stock market to make money! In the past six months, Sister Zhou from our sales department has already made money You’ve already got half the money for a house, so you have to work hard and don’t be scared away by today’s market. There is a lot to do in the securities market in the future.” Manager Zhao encouraged Wang Yuqing.
Yuqing nodded: "Don't worry, Manager Zhao, I will do a good job!"
Wang Yuqing walked out of Manager Zhao's office and looked at the large electronic screen hanging high in the middle of the trading hall. It showed that today's Shanghai Composite Index was on a downward trend and was quietly fixed at today's lowest point.
There were very few retail investors left in the trading floor of the sales department, and the few who remained were still aggrieved, complaining, cursing, or sighing.After the market closes, many retail investors are still there discussing enthusiastically how much the stocks in their hands have risen that day and how much money they have made, creating a joyful atmosphere.The sudden change in the scene today made Wang Yuqing feel like she was in another world.
Although she came here not long ago, she quickly met two old stock investors, both of whom entered the stock market in the 90s.Uncle Wang and Mrs. Liu arrive at the trading hall of the sales department at nine o'clock every day, turn on the computer, open the trading software, carefully analyze the stocks in their hands, make predictions about the market trend of the day, and then each pick up a securities newspaper. Study it carefully.Uncle Wang is a conservative and prudent person who pursues value investing.Mrs. Liu is an optimist, or a firm bullish. She likes to watch all kinds of stock review programs, listen to stock recommendations from various experts, and is keen to find out gossip everywhere.The two men often quarreled, and each had a group of retail fans. The voices of arguments between the two groups were often heard in the trading floor of the sales department.
In the next few days, the stock market continued to plummet.Mrs. Liu kept cursing, but Uncle Wang was drinking tea leisurely.That's right, on the first day of the plunge, Uncle Wang cleared all his positions.Mrs. Liu has been constantly replenishing her position these days.
"Sister Liu, please stop sighing. The stock market always goes up and down. Since you've already been trapped, just wait and it will always rise again." Uncle Wang advised Mrs. Liu .
"You don't know how painful it is without cutting your flesh, right? That's my pension! I've already suffered three strokes!" Old Mrs. Liu said with a cry.Hitting the limit three times means hitting the limit three times in a row.
"I have made a lot of money since the beginning of 2007. The government's increase in stamp duty this time is to prevent the stock market from overheating and squeezing the bubble! The market has risen a lot this time, and it's time to adjust. On the day the policy was released, I asked you to throw it away and you still refused to listen and insisted on going against me. Well, the pension will be included in it, right?" Uncle Wang was clearly comforting Mrs. Liu, but every word was hinting that this time he Won.
After a day of trend, the Shanghai Composite Index turned red in late trading, rising slightly by dozens of points. "The decline has stopped and stabilized! Look, the market has turned red!" Mrs. Liu happily pointed at the trading screen to show off to Uncle Wang.The implication is that it is not certain who will win!Maybe after the adjustment, there will be another big wave of market prices, so isn't it that you, Lao Wang, are out of luck? !
"That's 'only making ideas but not money'. Look at how many red and green stocks there are? This is the main force in the market pulling up bank stocks and heavyweight stocks, which is confusing people!" Uncle Wang dismissed Old Mrs. Liu judgment.
Uncle Wang and Mrs. Liu were still bickering and arguing, neither of them convinced the other. The retail investors who were watching stood and listened with great interest.
After the sharp decline in the past few days, there have been significantly fewer people coming to the sales department to open accounts. Wang Yuqing is still in the internship stage and has to wait until she gets her diploma before she can sign a contract. Her main task now is to familiarize herself with the work process and learn the company's new policies. Various financial products, transforming book content into practice.After the contract is officially signed, she can find customers to open accounts and sell various financial products such as financial funds.
"Good news! Good news!" Mrs. Liu swept away the gloom of the past and happily promoted the latest policy trends to retail investors.
"I heard that the China Banking Regulatory Commission was originally going to hold a press conference to publicly deal with a group of commercial banks that illegally borrowed money from securities firms for stock trading. However, they received an emergency notice just before the meeting and the event was cancelled! What does this mean?" The retail investors all gathered around, wanting to hear Mrs. Liu's opinion, but Mrs. Liu kept it secret and refused to say anything.
"What does it mean? I'm afraid that the stock market will continue to be stimulated." Uncle Wang was browsing the securities newspaper in his hand. When he heard the news, he raised his head and glanced at Old Mrs. Liu, "I'm afraid that you, Old Mrs. Liu, will get out of your way and do something stupid again. "
Mrs. Liu glared at Uncle Wang fiercely, and explained her point of view triumphantly: "This shows that the policy situation has begun to pick up! Comrades who insist on being bullish like me, just watch and keep your accounts tight. Don’t sell it, Uncle Wang and the others will be frightened to death!”
Uncle Wang glanced at Mrs. Liu, smiled contemptuously, and continued to look down at the securities newspaper in his hand.
At the end of the day, a single-pin bottom ended the day's trend.
　In 2007, China's stock market started a magnificent market.
In the early morning of May 5, the state raised the stamp duty to Qiansan. This was the famous midnight rooster crow incident in financial history.
　
(End of this chapter)