This year’s IPO fund-raising king Alibaba (new listing number: 9988) is highly sought after
and the public offering has been overbought by 40 times, and it has failed to achieve 1 person and 1 lot; the dark disk price yesterday maintained a 4% increase. Earn more than 700 yuan per lot. Due to insufficient distribution of goods by institutional investors, it is believed that the first day will trigger a wave of rushing for goods.
On the eve of the listing of Alibaba, which was subscribed by more than 210,000 people, a number of securities firms’ private disk trading remained up about 4% most of the time. Among them, Yaocai Securities has seen a maximum of 185.2 yuan, which is 9.2 yuan or 5.2% higher than the IPO price of 176 yuan. A book (100 shares) can earn up to 920 yuan.
In the rich disk market of Rich and Phillip, they both saw a high of 185 yuan, which is 5.1% higher than the offer price of 176 yuan. Since the majority of the time maintained a 4% increase, each lot was about 700 to 800 yuan before the commission .
Hong Kong stocks have recently shown signs of recovery, and new stocks have become the focus of recent investment. In addition, after Ali’s pricing last week, US stock prices have stabilized repeatedly. It is expected that Ali’s first share price will rise steadily today.
Pre-closing session or price reduction
Ali was priced at RMB 176 per share in Hong Kong time on Wednesday, which is a nearly 3% discount from Ali’s American Depositary Receipts (ADS) late-night closing. After Ali’s pricing, its US stock price has stabilized repeatedly. Last Friday, it closed at US $ 186.78. Based on 1 ADS for 8 shares of Hong Kong-listed common stock, it is equivalent to approximately HK $ 182.8 per share, which is nearly 4% higher than the local offer price.
At the same time, Ali’s IPO has been enthusiastically subscribed by retail investors. From the public, nearly 22,000 people who subscribed for less than 500 shares failed to subscribe. The “super retail” who spent nearly 1.2 billion yuan to subscribe with “head hammer flying”, only 7.3% of the number of subscription shares were allocated, and the successful subscription rate was quite low, which caused a lot of demand in the market.
Retailers who have not been allocated shares will also have the opportunity to chase the goods in the market, because the quarterly review of the MSCI index will take effect after the market closes today. The current MSCI quarterly inspection will reflect the inclusion factor of A-shares in the main emerging market index series such as the MSCI China Index, with its proportion increased from 15% to 20%.
The proportion of A-shares has increased, and the proportion of existing constituents has been diluted simultaneously. As the heaviest constituent of the MSCI China Index, Ali naturally has the largest selling pressure. As of November 22, Ali accounted for about 14.7% of the MSCI China Index, which was about 13.5% of the market capitalization of No. 2 Tencent, 1.2 percentage points higher. Index trades have been concentrated around 15 minutes before the market close, which may give retailers the opportunity to chase the goods at a lower price.
Political market fluctuations, investors should not chase
The Hang Seng Index closed at 26993 points yesterday, up 397 points or 1.50%, close to the 27000 point mark. It also recovered 10 antennas (about 26701 points), 20 antennas (about 26991 points), 50 antennas (about 26651 points), and 100 antennas ( (About 26825 points); main board turnover was 75.969 billion yuan, up 13%.
It is expected that there will be no major negative news in the short term. In addition, the listing of Alibaba today is expected to have a stimulating effect on Hong Kong stocks in the short term. It is estimated that the Hang Seng Index will find it difficult to fall below the support level of 26300 in the short term. However, investors should not chase high at this stage because the current market situation is a highly volatile “political city”. In addition, Hong Kong’s political predicament is only mitigated rather than resolved satisfactorily, and the market outlook may have the opportunity to deteriorate again.