Black technology: a super empire spanning two worlds

Chapter 339 [It's gone crazy! The market value of "Spirit Emperor" breaks the 30 trillion mark for the first time!]

Although today's market saw a general rise driven by major positive policies, people still have doubts and don't know how long this announcement will last.

Many investors still don't believe it, thinking it's just another one-day wonder. This is because previous calls to boost market confidence have always resulted in one-day wonders, with prices rising on the first day and then falling again the next, sometimes even hitting new lows a few days later.

So the following day, Wednesday, September 25, the market opened higher but then fell back after a surge. The Shanghai Composite Index rose by more than 3% at one point during the day, but finally closed down to +1.16%. The ChiNext Index and the Shenzhen Component Index also experienced a similar pattern of rising and then falling back.

Yesterday saw a significant surge, and today it rose another 3 percentage points, with funds habitually exiting at the peak.

Lingjing Technology, which also opened higher, surged as much as 4% during the session before falling back. It closed up 1.96% at 281.32 yuan, with a market capitalization of 24.41 trillion yuan. However, the trading volume surged to 2000 billion yuan, an increase of nearly 600 billion yuan compared to yesterday.

The volatility of Likang Technology, listed on the Beijing Stock Exchange, is even more outrageous. After opening high in the morning, it strongly hit the 30cm limit up, advancing to a second consecutive limit up, with the stock price reaching 776.71 yuan. If it weren't for the limit up price restriction, it would definitely have broken through the previous high of 777.77 yuan and reached a new historical high today.

However, after 11 o'clock, as the overall market declined, coupled with the selling pressure from trapped investors at the 777.77 "leopard top" price level, the stock's limit-up was broken, and it accelerated its decline at the end of the day, finally forming a long upper shadow. It closed up 8.18% at 646.33 yuan, with a market value of 3005.43 billion yuan, barely holding the 3000 billion yuan market value mark.

Likang Technology's trading volume today also surged from 211 billion yesterday to 479 billion, second only to the 607 billion on the day of the "Leopard Top" (referring to a stock price peak of 777.77), making it the second largest single-day trading volume in the history of the stock since its listing.

Despite yesterday's significant positive news, today's market surge and subsequent pullback still gives the impression of a one-day wonder.

It's not entirely fair to blame A-share investors for lacking vision and running away with any profits. They've been hurt too deeply by the A-share market. Over the past three years, anyone with vision who didn't run away with profits has ended up giving back all their profits and being deeply trapped.

Those stock investors who are now trapped were once high achievers, but now they are deeply trapped and can only lie down and pretend to be dead.

Perhaps only Lingjing Technology truly has the potential to achieve significant scale.

Over the years, the 3000 million investors who have invested in Lingjing Technology through value investing have all made money, as long as they are not short-term traders. The difference lies in how much they have made.

However, many investors who made money by investing in Lingjing Technology found themselves itching to trade, so they used some of their money to trade other stocks, only to lose it all. Eventually, they became more disciplined and stopped investing in Lingjing Technology, which now has nearly 3000 million shareholders.

Clearly, given today's surge followed by a decline, if no sustained and substantial positive policies emerge, it will likely follow the pattern of previous pronouncements: a brief rally on the day of the announcement, followed by another downward plunge.

Everyone thought there would be another sell-off, but unexpectedly, the next day, Thursday, September 26th, brought even stronger and more significant positive policies.

The high-level meeting clearly stated that efforts should be made to boost the capital market, vigorously guide medium- and long-term funds into the market, and support mergers and reorganizations of listed companies, etc.

This series of positive policy signals has greatly boosted market confidence.

As a result, the entire A-share market was in high spirits on Thursday, and the market strongly reversed Wednesday's upper shadow line, showing a powerful short squeeze and demonstrating the strong influence of the policy on the market. This further illustrates that the A-share market is a policy-driven market.

Those who jumped off the train yesterday were stunned and kept slapping their thighs in disbelief.

The three major stock indices closed with strong gains, with the Shanghai Composite Index surging 3.61% to 3000.95 points, regaining the 3000-point mark; the Shenzhen Component Index jumped 4.44% to 8916.65 points; and the ChiNext Index climbed 4.42% to 1714.14 points.

A total of 5225 stocks rose, while only 177 stocks fell.

Likang Technology, listed on the Beijing Stock Exchange, rebounded strongly today with reduced volume, hitting the daily limit of 30.00%. The stock price surged to 840.23 yuan, breaking through the previous high of 777.77 yuan, creating a new historical high. The daily turnover reached 354 billion yuan, and the market value soared to 3907.06 billion yuan.

Likang Technology's stock price plummeted to a low of 377.77 yuan in early September, and closed at 840.23 yuan today, representing a cumulative increase of +122.41%, once again achieving a doubling in price.

However, Lingjing Technology, the "Linghuang" stock, performed relatively weakly on Thursday, closing up 2.56% at 288.52 yuan after hours, with a market capitalization of 25.04 trillion yuan and trading volume shrinking to 1677 billion yuan.

On that day, it not only failed to outperform the ChiNext index, but it even underperformed the Shanghai Composite Index.

Because market volume did not increase further and remained roughly the same as Wednesday's trading volume, with no significant increase in volume, and with unexpected positive policy support, funds chose to buy other low-priced stocks with better value.

Lingjing Technology hasn't experienced a significant drop, and even with the recent two-month correction, it remains at a high level. Moreover, with such a large market capitalization, insufficient trading volume makes it difficult to drive up prices, and funds are more inclined to seek opportunities elsewhere.

Today saw another broad-based rally driven by a violent short squeeze. A meeting held at the top clearly stated the need to revitalize the capital market, making investors across the market realize that a real reversal might be on the horizon.

After the market closed, the news continued to spread, and all the funds that had been waiting and watching, whether they had jumped the gun yesterday or were holding cash, were now restless.

……

The following day, Friday, February 27th.

The last trading day of the week arrived as expected, and the market went absolutely crazy today as those who missed out rushed in. It has to be said that the stock market's profit-making effect these past few days has been so strong that it's practically impossible to make money just by bending down.

Today's market sentiment was extremely euphoric, with trading activity soaring exponentially. A massive influx of investors into the market put immense pressure on the Shanghai Stock Exchange's trading system, causing the Shanghai Composite Index to exhibit abnormal behavior this morning. The intraday chart showed a flat, straight line with very little trading volume.

Not only did the Shanghai Composite Index exhibit abnormal movements, but some Shanghai-listed stocks also experienced abnormal buying and selling, with investors unable to buy or sell stocks smoothly, or even successfully cancel orders.

Around 11 a.m., the Shanghai Stock Exchange issued an announcement on its official website stating that after the market opened that day, there was an anomaly in the slow confirmation of transactions in the auction trading of Shanghai stocks. The exchange stated that it had taken note of the situation immediately and was investigating the cause.

Market rumors suggest that the exchange system malfunctioned and crashed due to a surge of investors rushing into the market.

Meanwhile, there are also rumors circulating that short sellers, fearing a short squeeze and subsequent collapse, secretly cut off their internet access to close their positions.

This rumor is very popular, and it reminds many people of the day when Lingjing Technology's stock price surged seven or eight times on the day it resumed trading. The stock price showed abnormal intraday movement, and at that time, it was widely rumored that the short sellers had pulled the plug.

How similar this moment is to that moment back then.

The Shanghai Stock Exchange trading system experienced a malfunction, but the Shenzhen Stock Exchange was unaffected.
Furthermore, due to the inability of Shanghai-listed stocks to trade normally, the funds that had rushed in turned around and poured into the Shenzhen market, resulting in huge liquidity for the Shenzhen Component Index and the ChiNext Index, causing individual stocks to surge and triggering a wave of limit-up moves.

Lingjing Technology is a ChiNext stock, and since ChiNext is listed on the Shenzhen Stock Exchange, it was not affected.

During the morning auction, Lingjing Technology opened 1.60% higher and continued to rise, with a gain of over 6% around 10:00 AM, breaking through the historical high of 305.11 yuan from two months ago and setting a new record.

Yesterday, Lingjing Technology even underperformed the market, but today it took off, breaking through its historical high and instead of falling back, it accelerated its upward momentum.

Today, the entire market experienced another short squeeze. Not only did some off-market funds rush in, bringing a massive influx of new capital, but also, due to a trading system malfunction in Shanghai-listed stocks, impatient funds turned around and went to Shenzhen-listed stocks to buy up shares.

Those who missed out glanced at the market and discovered that Lingjing Technology had only risen a little yesterday, not even outperforming the broader market. It seemed like a great value, so they decided to buy it immediately!

As a result, those who missed out on the initial surge went on a buying spree, driving up even mega-cap stocks like Lingjing Technology.

At 11:23 AM, major market data platforms pushed out the following messages:
[Lingjing Technology surged 20.00% to its daily limit, pushing its total market capitalization to a record high of 30.05 trillion RMB, becoming the first A-share listed company to surpass 30 trillion RMB in market capitalization and the first global listed company to exceed 4 trillion USD in market capitalization. Current trading volume is 1350 billion RMB.]

The market was in an uproar, and even "Linghuang" was forced to hit the 20cm daily limit, with its market value reaching 30 trillion yuan. Investors from all walks of life were dumbfounded and exclaimed that the A-shares market had gone crazy and was rising like crazy.

At this moment, funds from all sides were buying, and the entire market rose again.

Some investors in the Shanghai Stock Exchange were frustrated and angry because their orders were stuck and they couldn't trade normally, and they couldn't cancel their orders. They were cursing and extremely anxious.

In this market, you could easily make money just by bending down, but getting stuck and unable to trade is incredibly frustrating.

As time went on, the Shanghai Stock Exchange's trading system gradually recovered from the malfunction by the afternoon opening, and the index surged rapidly. Stocks on the Shanghai Stock Exchange that resumed normal trading days also saw sharp increases.

At 13:15 PM, Lingjing Technology's stock price hit the daily limit up and then plummeted.

Meanwhile, the Shenzhen Component Index and the ChiNext Index, the two major indices in Shenzhen, also began to decline. This was because many Shenzhen stocks that had hit their daily limit in the morning saw their holders sell off their shares today, freeing up funds to chase Shanghai stocks. This was because the Shanghai market experienced a trading system malfunction in the morning, preventing many stocks from rising.

As a result, a large amount of funds were dumped from the Shenzhen Stock Exchange in the afternoon and flowed back into the Shanghai Stock Exchange for a buying frenzy.

By the close of trading at 3 p.m., the Shanghai Composite Index had risen 2.89% for the day, approaching the 3100-point mark; the Shenzhen Component Index surged 6.71%, marking its largest single-day gain since March 2009; and the ChiNext Index even surged as much as 12 percentage points during the day, closing up 10.00%, marking the largest single-day gain in the index's history.

In terms of individual stocks, Lingjing Technology failed to rebound after its initial surge, but still closed with a super bullish candle, soaring 16.49% to close at 336.09 yuan, with a market capitalization of 29.17 trillion yuan. The trading volume surged to 3002 billion yuan, an increase of 1325 billion yuan compared to yesterday, nearly doubling the volume.

Likang Technology, listed on the Beijing Stock Exchange next door, achieved two consecutive limit-up days. Before 10:00 AM, it had already risen by 30.00% and hit the limit-up price. It remained firmly at the limit-up price throughout the day without any break. The stock price also broke through the 1,000 yuan mark for the first time, becoming the second stock in the A-share market to reach 1,000 yuan, second only to Moutai.

Likang Technology closed at 1092.30 yuan today, with its market capitalization soaring to 5079.19 billion yuan, surpassing the 5000 billion yuan mark for the first time.

The current market can only be described as crazy, with millions of investors releasing their pent-up emotions accumulated during the bear market this week.

The entire market is experiencing a surge in all types of stocks, including large-cap stocks, small-cap stocks, miscellaneous stocks, and popular leading stocks. Investors don't need to pick stocks; what they need is courage. As long as you are bold enough to take a large position, you can steadily make a lot of money.

……

(End of this chapter)