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2006年以来,在股指的跨越式飙升和总市值的疯狂膨胀下,A股市场吸引了数以千万计的投资者投身其中。今年“5.30”之前,市场上几乎少有不赚钱的人,机构如此,散户亦然。“5.30”之后,特别是第三季度,A股市场繁荣依旧,股指,总市值不断创出新高,然而市场格局却悄然发生了变化。大多散户赚了指数却不赚钱,成为市场看客,而机构投资者则担当起推动大盘上涨的主导力量。随着发展多层次资本市场的政策导向进一步明确,第四季度,A股“盛宴”似乎难以为继。
Since 2006, the a-share market has attracted tens of millions of investors to join the soaring stock-market leaps and the soaring inflation of the total market capitalization. This year “5.30 ” before the market, few people do not make money, institutions, retail investors. After the “5.30”, especially in the third quarter, the A-share market continued its prosperity while the stock index and total market capitalization hit a record high. However, the market pattern has quietly changed. Most retail investors earn an index but do not make any profit. They are market spectators while institutional investors take the lead in boosting the broader market. With the further development of the multi-level capital market policy guidance, the fourth quarter, A shares “Feast ” seems unsustainable.