Starting with a fully invested A-share portfolio to become a capital...

Chapter 197 "Jumping Brother" Imprisoned, Zhang Yang's Earth Top VS Da Xiao's Unyielding Bull

[Reservoir Youth]: Oh no, oh no! As long as the banking sector turns green, other sectors will basically follow suit. This is a complete disaster!

[Understanding Joy and Sorrow]: Four consecutive days of decline, is the A-share market still worth investing in?
[Wishing for One Heart]: I have a question. When I registered my household, my dad wrote that I was 2 years older than him. Now I've just turned 18 and lost 3000 yuan in the stock market. Can I change my age to 16 so I can apply for a refund from the stock exchange for a minor? I'm waiting online, it's urgent.

[I'm not a stock market guru]: New stock market investors are still making a fuss, complaining about this and that, without any sense of perspective or composure. We veteran stock market investors are different; we're all standing on the rooftop now.

The decline in the banking sector has already made countless investors wary, even new investors know the power of a "stabilizing force".

Just because it rises doesn't mean individual stocks will rise.

When it falls, individual stocks often follow suit.

However, the stock market is always full of randomness and unpredictability. Just when countless investors were lamenting their losses, the banking sector, which had been in the red, suddenly turned red again. It was 9:20 a.m., the time when orders could not be cancelled.

"???"

"???"

Countless question marks were raised in the online community.

Some investors who panicked upon seeing the banking sector decline completely lost their composure. They felt their noses turning red, as if they were clowns being played by the major players.

[Cantonese Charm]: The old mother of Lei has her family property, the main force calls Lei's mother to stay tonight, the uncle and Lei's mother bed board are all worn out.

[Lin Bei Doesn't Cause Trouble]: It immediately turned red after locking in a 20-minute order, you beast! Did I cut my losses at the bottom? I'll fuck your mother.

[Quality Youth]: Auntie Pu Nie, the A-share market is really not for humans, I'm quitting.

9点15分到9点19分59秒，A股可以随意挂单撤单，已匹配的量能也不会成交。

However, if it reaches 9:20, all pending orders will be locked and cannot be cancelled. The system will automatically match and execute the transactions at 9:25.

At this point, some retail investors, misled by the five-minute "smokescreen," handed over their chips.

Haitong Foods, as expected, was once again hit with a limit down, currently trading at 5.25 yuan, seemingly poised for a fourth consecutive limit up.

Chen Sanrong, far away in Shenzhen, was heartbroken. His eyes were bloodshot, and he looked more than ten years older than before.

Because he bought in with all his funds, he had no room for maneuver.

Want to sell?
Sorry, there are no buyers available!
Want to increase your position to average down your cost?
His bank account is completely empty, and his credit cards are maxed out. Now he can't even withdraw cash from his bank account.

Holding no position, splitting positions, and going all in are the three most basic trading strategies. Going all in is like half your body sticking out of the rooftop, where you could fall at any moment.

Looking at the downfall of all brilliant traders, leverage and full margin trading are inextricably linked; they are also known as the devil's whisper.

"Brother Rong~"

As Chen Sanrong was still praying and hoping for a miracle, Bai Lei, the receptionist at the China Merchants Securities branch, walked in with a coffee.

Perhaps for the sake of the 7 yuan "keeping fee," she specially wore a red-trimmed suspender top and black stockings today, paired with a bodycon skirt and professional attire, looking as sexy as she could be.

However, there is an old Chinese saying: "When people are well-fed and clothed, they think of lustful desires."

Only when people are well-fed and clothed can they have time to think about other things.

If you can't even get enough to eat, who has time to think about other things?

In modern society, solving the problem of food and clothing is very simple. There is no need to hunt or farm. With money, you can buy all the food your body needs. In other words, money equals food and clothing.

Now that Chen Sanrong's money is tied up in the stock market, no matter how sexy Bai Lei dresses, she can't arouse any desire in Chen Sanrong. He's practically impotent.

Chen Sanrong glanced at Bai Lei briefly before looking away, saying with a hint of impatience, "I'm busy, don't bother me."

Bai Lei placed the coffee on the table, showing no intention of leaving, and softly reminded him, "Brother Rong, while you drink your coffee, there's something else. The limited-edition Hermes bags for this summer have gone on sale, and look at mine, costing 7 yuan..."

"No."

Chen Sanrong didn't want to pay attention to her at all, or rather, he didn't have time to pay attention to her.

"..."

Bai Lei remained silent for a long time.

Seeing that the other party really wanted to get it for free, she immediately thought of the post on the Mop forum, and her tone turned cold: "You really won't give it to me?"

"How much did I give you?" Chen Sanrong retorted, adding, "Besides, it's not like I forced you to..."

Before he could finish speaking, Bai Lei took out her phone, dialed the police number, and threatened, "Then I'll report this as rape, and none of us will have a good time."

"and many more!"

Chen Sanrong panicked and quickly said, "It's not that I don't want to give it to you, it's just that I really don't have any money right now. Please be lenient with me for a few days."

He didn't understand the law and wasn't sure if Bai Lei calling the police would get him arrested.

Haitong Foods might open for trading in the next couple of days. Chen Sanrong doesn't dare to gamble. If he really ends up in jail for ten days or half a month, or gets sentenced to several years, he'll really have to find a rooftop to freefall.

"Tomorrow at the latest."

Bai Lei continued to press her advantage.

"Hey, what's the rush? It's just 7 yuan. I'll show you my account holdings. I'll give it to you as long as you liquidate your positions."

Chen Sanrong opened his account holdings, and it was exactly 9:25 a.m.

Haitong Foods, holding 223.15 million shares, cost price 8.42 yuan, current price 5.25 yuan, today's decline is 10%, total loss 707.48 million yuan, total decline is 37.65%, total value remaining 1171.53 million yuan.

Bai Lei: "..."

silence.

She was silent.

It turns out that it wasn't that Chen Sanrong didn't want to give it, but that he was deeply trapped in a losing position, suffering a loss of more than 700 million yuan after four consecutive days of decline.

"You've seen it yourself, I lose over a million a day. I don't need your 7 yuan. So stop being unreasonable and making trouble for me."

Just when Chen Sanrong thought the matter was over, five or six uniformed police officers suddenly walked into the VIP room.

"Chen Sanrong, right?"

"You are suspected of a rape case. Please come with us for investigation."

"???"

Chen Sanrong looked at Bai Lei.

Seeing the aggressive approach of the other party, Bai Lei quickly explained, "I didn't call the police."

However, when he said that, the police officer handling the case paused for half a second, then looked at him and asked, "Are you also a victim?"

Before Bai Lei could speak, Chen Sanrong, who was already handcuffed and didn't want to go to the police station, shouted, "No, who the hell did I rape?"

"August 6th, Vienna Hotel, remember that? Come back with us for questioning," the lead policeman stated.

Chen Sanrong's mind raced quickly, and he immediately thought of something. He quickly defended himself, saying, "She did it voluntarily. I just didn't give her the money as agreed these past two days, so she reported me to the police and slandered me. I am truly innocent, and you must believe me."

"Voluntary?" A policewoman, barely suppressing her anger, retorted, "Voluntary doesn't mean you can get bruises all over your body and obvious strangulation marks on your neck. You clearly coerced the other person."

“There are security cameras in the hotel lobby. You can check the footage. She really did it voluntarily.”

“We have already checked. She was unsteady on her feet and you helped her into the elevator. She was clearly drunk.”

"I'm truly innocent!"

"Whether you've been wronged or not, come back with us and we'll talk about it. Shouting here won't do any good."

"Damn it, I'm completely innocent!"

"be honest!"

"Fuck your mother Fuchun Road, it's all your fault, you just wait!"

Chen Sanrong screamed hysterically, his hatred for "Fuchun Road" almost overflowing the entire business department.

If it weren't for Fuchun Road, he wouldn't have bought that Ferrari, wouldn't have kept several women at once, and wouldn't have been completely wiped out, resulting in maxing out his credit cards, leaving him penniless and unable to pay for the women he kept.

"I hate it!"

"Fuchun Road, I hate you!"

"Fuck your mother, Fuchun Road!!!"

As Chen Sanrong was being led away, he vented his emotions freely.

Fearing it would disrupt the surrounding order, a nearby police officer quickly reprimanded, "I don't care who Fuchun Road is, but watch your mouth now. If you have something to say, go back and talk about it. Don't bother other people."

The sudden turn of events not only left Bai Lei stunned, but the sales manager and supervisors also gathered around to watch the spectacle.

They didn't know what had happened, only that Chen Sanrong had been taken away by the police, and his belongings had been confiscated as well.

However, the policeman's words awakened Chen Sanrong, who shouted desperately, "The 'Shadowless Kick of Chancheng' is Fuchun Road, and Fuchun Road is the 'Shadowless Kick of Chancheng'! Help me expose this! Whoever helps me expose this, I'll give him 10 yuan!!"

"10?"

"Wow, 10?!"

Upon hearing about the reward, the sales manager and supervisor immediately perked up and silently noted down what Chen Sanrong had said.

Bai Lei, as a "potential victim," was also taken back to the police station.

After the police car left, the Hongling Middle Road branch of China Merchants Securities returned to calm, as if nothing had happened, except for a few managers discussing how to expose Fuchun Road.

……

Zhangjiang, the capital of Shanghai.

Financial Research Network office space.

Looking at the high opening price, Liao Guopei said to Zhang Yang, "The situation is a bit bad, Joker. The Shanghai Composite Index opened 0.83% higher, but then opened lower and rose in the opening auction. Is it going to form an N-shaped pattern?"

“Something definitely isn’t right!” Lin Guangchang agreed, adding, “Huaxin Securities opened 1.54% higher, and the four major banks all saw gains of over 1%. Could this really be a fake sell-off to shake out weak hands?”

8月10号的上证指数和深证成指分别开在了3287.76，深证成指则是开在了13109.32点，涨幅分别是0.83%和1.03%。

The sharp rise in the two major indices has retail investors already celebrating, and Joker's trading channel has been overrun by countless bullish investors.

[一霄倾城]: Bark, you bear dogs! Didn't you say the market was going to keep falling? Doesn't this gap-up opening hurt?
[Milk-scented camisole]: It's confirmed, Joker is a complete clown, not even worth a single hair of our teacher Da Xiao!
[Whose Coke]: Didn't they say the A-shares market was going to fall? Come on! Try falling and see!
[Guanzhong Chu Bawang]: Stop cursing Joker. He calls himself a clown. I'm afraid he'll enjoy it if you keep cursing him like this.

Zhang Yang glanced at the online comments but wasn't particularly moved. Instead, he looked at Liao Guopei and Lin Guangchang and said, "Every penny in the stock market has its own purpose. If it's a fake crash, what are its expectations?"

"A fake fall to shake out weak hands?"

Liao Guopei was somewhat uncertain.

"A fake drop to shake out weak hands first requires forcing out panic selling. Didn't you notice how quiet the news was this weekend?"

Zhang Yang gave a reminder.

What I thought would be a weekend was filled with rumors and gossip, with all sorts of short stories flying around.

But what about this weekend?

There were no major market-related articles; to be precise, there were no significant articles that could influence the overall market trend!
Something was definitely amiss when things seemed out of the ordinary. Zhang Yang felt there was definitely something fishy going on!
After Zhang Yang said that, Liao Guopei immediately realized what was going on and lowered his voice, saying, "You mean this is a continuation pattern in a downtrend?"

"There's a high probability this is a continuation of the downtrend." Zhang Yang maintained his bearish view while analyzing, "Let's put aside the news for now and just look at the capital and technical aspects."

"The trading volume in terms of funds has been decreasing day by day. Since the peak was reached on August 5, the trading volume was 2409 billion yuan, followed by 2169 billion yuan and 1849 billion yuan. As of 9:37 am, the Shanghai Composite Index is still shrinking in volume."

"What does this mean?"

"This indicates that this sharp drop did not shake out the top-level shares, or even the profit-taking shares. Under these circumstances, if you were the market maker, would you push the price up into positive territory?"

Liao Guopei: "No."

Lin Guangchang: "No."

The two answered in unison, very decisively.

No sooner had he finished speaking than Lin Guangchang interjected, "If I were the market maker, I would have continued to sell off in the morning session, and then let it consolidate sideways. I would never have created a W-shaped trend at this point."

"Now that Joker says it, it does look a bit like a wig." After careful analysis, Liao Guopei had to agree with Zhang Yang's opinion.

If he were to manage the market, he would most likely choose to trade sideways and fluctuate, lowering his holding costs while continuing to adjust downwards until a panic sell-off occurs, at which point he would bottom out and rally.

As for a quick pullback to break even?

Sorry, the stock market is not a place for charity!
After hearing their answers, Zhang Yang said with even greater certainty, "It's not just similar, it's almost certain that it's a continuation of the downtrend."

After pausing for half a second, he went on to analyze further: "The three trading days of August 5th, 6th and 7th saw a sharp drop of 7%, but the trading volume continued to decline, clearly creating a large number of trapped investors."

“Looking at the crash on July 29, the trading volume was 2969 billion, an increase of 50 billion compared to the previous trading day, indicating that funds were clearly panicked, which laid the foundation for the subsequent ‘bullish engulfing’ pattern.”

"On August 5th, 6th, and 7th, the trading volume decreased day by day, clearly not meeting the conditions for a bullish engulfing pattern. This was because the trapped retail investors believed that a bullish engulfing pattern was still possible, thus forming an extremely solid trapped position."

"Given the significant amount of trapped capital above, the market opened higher today, which likely means it will open high and then fall, trapping another batch of retail investors' funds before continuing to shake out weak hands and adjust further."

Zhang Yang's tone was very confident, as if he had seen this scene countless times.

He was very clear that every sum of money entering the stock market had its own purpose, and if he could figure out the underlying intentions of each sum of money, his chances of winning would be greatly increased.

If it's a major fund aiming for a reversal, it would open lower today and then experience a sharp V-shaped recovery.

The low trading volume in the previous three trading days is a good indication of this. Even if the market continues to fall today, there won't be much capital to buy the dip, and it will most likely continue to decline with low volume.

But it just so happens to open high...

This is a bit intriguing.

Without hesitation, Zhang Yang updated his speculative trading channel again.

[Discard the expectation of a "reversal pattern" and beware of a downtrend continuation trap!]
The message was short but very direct; he remained bearish.

To avoid suspicion, he did not post on the financial research website's member channel, but on his own speculative trading channel, so that even if he was summoned for questioning, he would have room for negotiation.

500 views.

1000 views.

5000 views.

Zhang Yang's intraday warning instantly caused an uproar among all stock market investors.

[Tears of the North Star]: Seriously? Still bearish? The Shanghai Composite Index has already broken through 3300 points. Joker is a real clown!

[Your Majesty]: This Joker has been predicting a decline for two months now, hasn't he? It seems like he was talking about a liquidity crisis back in June, and now it's August, and he's still bearish on A-shares.

[Higanbana]: There's no such thing as a continuation of the downtrend; it's just the impotent rage of Joker, who missed out on the gains.

[Building Materials Brother Wang]: Joker is still quite skilled. Although I missed out on the gains these past two months, I'll still reduce my holdings by half and observe. Some retail investors have sold off their entire positions, some have halved their holdings, some are holding firmly, and some are even chasing the highs and adding to their positions.

Zhang Yang looked at the retail investors who were divided, but he didn't step in to explain to each of them individually, nor did he need to.

Retail investors are stubborn and cannot be persuaded to change their minds with just a few words online. Zhang Yang can't possibly go offline, hold their hands, and force them to sell their shares.

This post is like a ghost or spirit; believe it or not, it doesn't exist.

While Zhang Yang was loudly and aggressively predicting a downturn, Li Daxiao next door remained firmly bullish, and today's strong opening gave him immense courage.

[Comrades, comrades, on this beautiful morning, the A-share market ushered in an epic opening surge! The Shanghai Composite Index and the Shenzhen Component Index opened with gains of 0.83% and 1.03% respectively. Our bull market is back! On this beautiful Monday, let us shout with joy the indomitable bull!]
Why is it called the Unyielding Ox?
No matter how much the bears sell, the A-share market's upward trend remains unchanged. Let's look to the future and cheer for this indomitable bull market!
[Go, indomitable bull!!!]
Just as Li Daxiao proclaimed "Unyielding Bull," Zhang Yang updated his post with a summary of A-share price-to-earnings ratios, corporate profit growth rates, and various technical indicators. The post was titled: "The Top of the Earth Has Been Formed!"

The "Unyielding Bull" versus "Earth's Top" debate instantly sparked a huge discussion.

[Cooked Chicken Eats Goose]: Oh my god, Joker is really going head-to-head with Da Xiao! It's like the Unyielding Bull versus Earth, who the hell can win?
[Call Me Leonardo da Vinci]: Just copying what I see. And calling this the top of the earth? If this is the top, I'll eat two tons of shit!

[Where is the undercover agent?]: Goodness, even the great Joker is starting to "become a god". I wonder if the top of the earth is really the top.

[Wandering Spirit]: Fight! Fight! Fight!

The appearance of "Earth's Top" stunned Li Daxiao, who was far away at Yingda Securities, for half a second. He never expected that Zhang Yang would stand on the opposite side of him.

Bearish sentiment?

How dare this kid do that?
Aren't you afraid of being summoned for questioning?

Of course, being bearish doesn't necessarily get you summoned for questioning, but there's clearly positive news driving things now, so it's really not appropriate to be bearish.

"What is Zhang Yang trying to do?"

"Trying to use my data?"

Li Daxiao was a little confused.

Logically speaking, Zhang Yang is the CEO of Caiyan.com, so there's no need for him to deliberately piggyback on his traffic.

……

And at the same time.

Eastmoney Office Building.

As soon as Zhang Yang publicly declared "Earth's peak," Shen Jun, chairman of Eastmoney, immediately received a report from his subordinates. He muttered to himself, "Earth's peak, high-profile bearish pronouncements?"

"Yes, they're loudly predicting a downturn."

Tang Lingyue nodded.

"What is his purpose?" Shen Jun asked, puzzled.

No one cares if you're bullish on A-shares. Even if you say it will reach 6000 points by the end of this year, 12000 points tomorrow, or 24000 points the year after, nobody will care because nobody believes it.

But if you are bearish on A-shares, especially if you are a public figure, you might be invited to have tea.

Why is this happening?

It's still a matter of trust.

For example, if someone tells you that the A-share market will reach 6000 points by the end of the year, your first reaction will definitely be disbelief, and you might even suspect that the person is from a mental hospital.

But if someone tells you that the A-share market may return to 3000 points, or even 2000 points, the credibility of that statement changes instantly.

One is something that has never happened before in the A-share market, and the other is something that happens in the A-share market from time to time. That's the difference.

At this point, some people might say, "The A-share market once touched 6000 points, so why is it unbelievable?"
The 6000-point mark in 2007 was a product of a combination of factors, including a rapid increase in export trade, a booming domestic economy, and the successful bid to host the Olympics.

Is there a chance for the index to reach 6000 points in 2009?

too difficult!
The global economy has not recovered!

Forcing the index to 6000 points is tantamount to injecting 3000 points of water; once the floodwaters are released, it would be enough to drown all stock market investors.

In just one year, the index went from 1800 points to 6000 points. Any serious stock market investor would not believe such an absurd thing.

Tang Lingyue thought for a moment and analyzed, "Everyone has their own motivation for doing things, and Zhang Yang is no exception. By creating traffic like this with Li Daxiao, his popularity has increased. I guess he also wants to become an internet celebrity."

"Become an internet celebrity?" Shen Jun hesitated for a moment before asking, "You mean Zhang Yang is using himself as a living advertisement for Caiyan.com?"

“Yes.” Tang Lingyue nodded in response, and then said, “Besides this motive, I can’t think of any other motive for Zhang Yang.”

To protect retail investors?

Stop kidding me!

Who would risk being summoned for questioning to protect retail investors who have no connection to the company?

If it were truly for the benefit of retail investors, Tang Lingyue felt that Zhang Yang could build a temple for himself and become the third saint of China.

"It seems he doesn't want to follow the crowd, but is looking for a new path." Shen Jun narrowed his eyes, his gaze full of seriousness.

He found it hard to believe that Zhang Yang was just a fresh graduate.

Dealing with Caiyan.com is far more challenging than dealing with other financial websites.

Fortunately, Alibaba seems to be on the side of Eastmoney, not Caiyan.com.

When Shen Jun learned that Zhang Yang was becoming a financial influencer and had proclaimed "the top of the world," Yi Zheng of Tonghuashun, as well as the heads of other financial websites, also learned of Zhang Yang's next move.

Meanwhile, Ma Yun, who was far away in Hangzhou, couldn't help but sigh that Zhang Yang was indeed the corporate management talent he had been searching for.

If Alibaba could acquire this man, it could dedicate all its resources to helping Caiyan.com reach its peak.

but now.

Caiyan.com is still an outsider.

……

the other side.

Above Shanghai Hongqiao International Airport.

"Ding-dong-"

"Dear passengers, our aircraft is currently descending. We may encounter slight turbulence during the descent. Please do not worry and keep your seatbelts fastened throughout the journey. Thank you for your understanding and cooperation. We wish you a smooth journey ahead!"

As the plane landed smoothly, Chen Xiaoqun and Zheng Minghui, who were in business class, were the first to leave the cabin and board the shuttle bus on the ground.

Since it was her first time visiting Shanghai, Chen Xiaoqun said excitedly, "Is this Shanghai? It seems more luxurious than our Beijing."

"It's just an airport, what other tricks can you possibly find?" Zheng Minghui fastened his seatbelt.

"It's something new, don't spoil the fun."

"Got it."

There was no age gap between them; they chatted like friends.

Because it was a remote gate, a shuttle bus was required, and the passengers who boarded later filled all the seats.

Chen Xiaoqun was visiting Shanghai for the first time, but Zheng Minghui was quite familiar with Hongqiao Airport and easily retrieved their luggage before taking Chen Xiaoqun to the hotel.

After the two had put their luggage away, Zheng Minghui asked Chen Xiaoqun about their purpose: "Tell me, what are you planning to do in Shanghai?"

"I'm just browsing around." Chen Xiaoqun chuckled, not telling the truth.

"Visiting brothels?"

"Hey, don't talk nonsense. I'm still a child. Don't lead me astray."

"You're going to lead me astray. You stole my CDs a couple of years ago, do you think I didn't know?"

"No, you remember all of this?"

"You're just stating the obvious. That's a collectible I brought back from Japan. Of course I remember it, I just didn't expect it to be you."

Chen Xiaoqun: "..."

Zheng Minghui, being an experienced person, didn't see anything wrong with it. He took a sip of the bottled water provided in the hotel room and continued to probe Chen Xiaoqun's purpose, saying, "Tell me, where are you planning to go?"

"Sigh, I'll go to Caiyan.com and see if I can meet my idol."

Chen Xiaoqun confessed.

"Zhang Yang?"

"You know him?"

"Nonsense, I'm a stock investor too."

"That makes things easier. Once you're done with your business, we can go together."

“Sure, sure.” Zheng Minghui nodded, then asked, “But does he even know you? You’re going to meet your idol?”

"Once you're stranger, twice you get to know each other, it's like striking up a conversation, you have to take the initiative to have a future, don't you think?" Chen Xiaoqun said with a smile.

“You’re young, but you know a lot. Alright, you can stay at the hotel by yourself. I’m going out for a bit.” Zheng Minghui casually threw the mineral water bottle into the trash can, packed his things, and walked out.

"Take care, Uncle."

"Just stay put."

After seeing Zheng Minghui off from the suite, Chen Xiaoqun immediately opened his laptop to check today's A-share chart.

"It didn't drop?"

He was a little surprised.

But when he saw Zhang Yang shout "Earth's Top", he instantly turned into a fanboy and said: "As expected of the Joker God, Earth's Top, so domineering!"

After reading Zhang Yang's post, Chen Xiaoqun sighed inwardly, "A master is a master indeed. He can analyze the A-share market trend so thoroughly with every single word."

His reason for becoming a die-hard fan of Zhang Yang can be traced back to Zhang Yang's practice of showing his real trading records and sharing content daily on Baidu Tieba.

To determine whether someone is capable, you only need to look at their actual trading profits.

During those two months, Chen Xiaoqun invested on her own while studying Zhang Yang's daily investment insights. Later, after learning that the "joker guru" was Zhang Yang, she found the campus discussion videos and studied them frame by frame. Things she didn't understand before suddenly became clear.

Women admire strength, and so do men. Chen Xiaoqun didn't understand any of the intricacies; he simply felt that learning from Zhang Yang would improve his trading skills.

……

11 points.

The A-share market closed in the morning session.

After surging at 9:43, the Shanghai Composite Index and the Shenzhen Component Index both traded sideways for nearly two hours afterward.

Shortly after the market closed, several unverified articles swept through the market.

1. Regulatory authorities require small and medium-sized banks to have a capital adequacy ratio of 12%.

2. Subordinated debt included in supplementary capital may be deducted.

3. The China Banking Regulatory Commission (CBRC) has suspended the approval of subordinated debt.

The first rumor sparked concerns among retail investors about the credit expansion capabilities of small and medium-sized banks, because increasing the capital adequacy ratio means that banks need to replenish capital or reduce lending, which may affect market liquidity expectations.

Article 2 Subordinated debt is an important tool for banks to replenish their capital. If the portion included in supplementary capital is deducted, it will weaken the bank's capital strength, thereby affecting its lending capacity and market confidence.

The third rumor is easier to understand: if the issuance of subordinated debt is suspended, banks will be unable to replenish capital through this channel, which will exacerbate market concerns about the stability of the banking system.

Three consecutive negative articles have made retail investors panic.

[Xiaolongbao]: Oh no, is the market going to plunge again this afternoon?

[Love's Memo]: You're overthinking it. It won't be that slow. If nothing unexpected happens, it'll jump as soon as the market opens at 1 p.m., hahaha.

[Beloved Furong Girl]: Could it be that Joker was right? Is the A-share market really at its peak?

[Feels great after being slapped]: Earth is nothing! All stock market investors, listen to my command! Everyone add 10 yuan to your positions and hold firmly until next year. You will thank me!
The appearance of the short essay made many retail investors start to waver. As 1 p.m. approached, A-shares rose instead of falling, with the Shanghai Composite Index breaking through 3307.89, showing a strong momentum to soar into the sky.

However, the A-share market in the afternoon was unreliable. The Shanghai Composite Index began to plummet after touching 3307.89 points.

3288 points.

3256 points.

3241 points.

The rapid decline of the Shanghai Composite Index prompted Lin Guangchang and Liao Guopei to exclaim in alarm.

"It's plummeted!"

"This is truly a continuation of the downtrend!"

"Joker, you don't have any superpowers, do you? You can't see the stock market going up and down, can you?"

"Holy crap, it's still going down!"

"It feels like it's going to reach 3200!"

Hearing the exclamations of his two "accomplices," Zhang Yang remained calm and composed, and said with a smile, "It can only be a continuation of the downtrend; a rally is impossible because there are too many trapped investors above."

"Awesome, truly the best on Earth!" Lin Guangchang couldn't help but give a thumbs up.

"Another group of family members have been tricked by the downward trend and are now deeply trapped."

While Liao Guopei was gloating, he suddenly remembered something, opened his QQ, and checked Chen Sanrong's chat window.

"I was wondering what was missing today. Turns out, the guy who jumped off the building hadn't contacted me all day."

"Didn't the guy who jumped off the building contact you today?"

Zhang Yang was somewhat surprised.

He thought Liao Guopei had overlooked it, after all, Chen Sanrong only said the same few things over and over again, and refused to take the blame for Fuchun Road.

"Could he have gone off to have some fun? I heard he bought a Ferrari, worth four or five million," Lin Guangchang guessed.

"Maybe. Let's just ignore him and see when he begs for mercy and obediently parachutes into Hangzhou to be under our control, hehe."

Liao Guopei said with a wicked smile.

He didn't take Chen Sanrong seriously; if the other party hadn't known some secrets, they wouldn't have deliberately targeted him.

(End of this chapter)