Who is the culprit of this round of stock market crash

 Who is the culprit of this round of stock market crash?
Special guests: CCTV Securities News Channel King Braun financial commentators Su Peike
investment Qinhong
Moderator: Wang Shijun Beijing Morning Post
Moderator: 8 month A continuous fall puzzling shares, many people attributed the collapse of social security funds and large-scale reduction of public fund. The two guests look at how this view?
Su Peike: In fact, August's fall was not inexplicable , long a harbinger. attributed the collapse of social security funds and the reduction of public fund is not objective, they are also investors in the market, choose inherently nothing wrong with buying or selling.
Qinhong: the present situation, the Group withdrawal of funds is the type A-share market plummeted in August the culprit, but in the end is the social security fund or public fund,UGG boots clearance, has not yet conclusive. from the current level of the Fund's position of view,Discount UGG boots, is close to the limit, once the capital redemption fund, the fund reduction could trigger a chain reaction leading to broader market slump. The redemption of funds can be both insurance funds, it could be a large group of industrial capital, it is difficult to determine who caused the collapse of this round.
Moderator: According to the Shenzhen Stock Exchange, the latest statistics show that funds and social security funds in July in Shenzhen, respectively, the net outflow from the 14.872 billion yuan and 6.64 billion in 2009 to record the biggest monthly net outflow, and this year more than Fund the sum of net inflows in Shenzhen, a direct result of the stock market crash in August. The two funds and social security funds how to evaluate this operation behavior?
Su Peike: domestic public offering practical equivalent of a large retail funds, most of the time redeemed by the retail investors are leading the passive behavior to lighten up, lighten up-raised funds in part to reflect the behavior of groups of individual investors. Some perceived risk of market-based public redemption, forced to lighten up the Fund in July, but also in the crash, I think this part of the strategic investors and institutions should be applauded to lighten up, for the daily turnover in the market, thousands of yuan a month, more than 100 billion outflow of funds is very normal. social security funds outflow of 664 million yuan, very limited impact on the market. institutions as one of the main market participation, based on trends and flexible as I agree that those holding the holder of funds br> Qin Hong: For the operation of the stock market itself, there is no strict criteria for judging merits and demerits, after all, in the current high valuation, in the context of more profit taking, whether it is social security funds, or raised funds , there are demand reduction, any reduction of behavior are in line with their investment philosophy. semiannual data also show that in many individual stock price performance has been severely overdrawn growth, these institutions appropriate for the corresponding reduction of the stock, and no What blame.
Moderator: There are statistical data show that in a substantial reduction of funds and social security funds at the same time, had been the foresight of the QFII was a net inflow in July reached 1.791 billion yuan A shares. how to evaluate the territory of the two institutions and foreign institutional differences between the operation?
Su Peike: A share of foreign capital has long been eyeing the involvement of funds is normal. If lawful and reasonable access to A shares from the foreign operations view,bailey UGG boots, such as the QFII, the time of their election and the operation is free, with the domestic institutions which one is better than not showing.
Qin Hong: For the QFII, I personally think that there is no need of deification. A-share market in the current high valuation of the background , the emergence of a net inflow of funds, and could not explain the QFII foresight to predict that China's economic growth can appear extraordinary, QFII's Masukura just limited to the concern of an industry, does not mean that they are optimistic about prospects for A-share market as a whole. QFII once, because in the first half but missed a massive reduction of excellent opportunities to make money.
Moderator: between both institutions and individual investors or institutions and agencies, there is the trend of the stock market significant differences, we belong to each game in this market relations, which is meant to be an ordinary individual investors should not complete the operation of the institutions as the basis for their investment?
Su Peike: ordinary individual investors organizations should be concerned about operational changes, understand the market behavior of the main game subject, know ourselves and know yourself. However, the institution's operational thinking is not necessarily based on the operation of individual investors,UGGs, after all, different amount of money, they applied the strategy is naturally different.
Qinhong: individual investors, must have its own operating philosophy, what is the value of investment or investment trend, what is the point of view or from the enterprise value of the flow of funds from the market point of view, to determine their operational behavior.
Further reading please visit the Su Peike Collection