7% decline, 5% decline, 3% decline...
Within one minute.
'Teli A''s stock price, propelled by continuous follow-on large buy orders, surged with irresistible force, climbing over 7 percentage points like lightning, rapidly narrowing the intraday decline from the limit-down position to around the 3% decline level.
And the sharp, linear upward trend.
also propelled 'Teli A' to the forefront of the real-time gainers list across both markets in an instant.
This attracted more attention from investors across the entire market, and the joining of more and more short-term active follow-on capital.
At 9:51 AM, only three minutes after 'Teli A' opened from its limit-down state, its stock price was once again pushed upwards by concentrated follow-on buying capital to near the flat price level, repairing all intraday declines and surging by 10 percentage points.
At this moment, Su Yi gazed intently at 'Teli A''s stock price, which had already surged to near the flat price level.
He did not continue to buy in.
Instead, he patiently waited for a further confrontation between bull and bear forces on the market, and for further fermentation of bull and bear sentiment.
Due to the large amount of short-term follow-on capital trapped in 'Teli A' yesterday, coupled with 'Teli A' hitting limit-down early today, the turnover rate was severely insufficient, and chips in the market had not been fully exchanged.
In this situation, if he were to continue buying with large orders and guide follow-on capital to strongly attack at this moment.
He would inevitably face concentrated selling pressure from various types of capital groups accumulated in the market that had not yet cleared out, including stop-loss orders, profit-taking orders, and trapped orders, leading to excessive selling pressure on the market, making it impossible to further open up trading space, and even less able to consolidate more follow-on capital through the profit-making effect.
Therefore, at this juncture.
He must wait for 'Teli A''s turnover rate to increase, and for the floating chips in the market to be further fully exchanged, before continuing to use large and super-large orders to guide the market.
After he briefly abandoned the operation of continuing to buy in and using large orders to push up the stock price.
'Teli A''s stock price lingered around the flat price level for about 6 minutes, only then being pushed upwards by another speculative capital main force that rushed in to snap up shares with continuous main buy orders of 2,000 lots and 3,000 lots, gradually climbing to a 1.5% gain.
And in the process of 'Teli A''s stock price climbing all the way from its limit-down state to being in the black.
The major core indices of both markets were also fully recovering from their morning declines.
Among them, the Shanghai Composite Index had already returned to near its opening 2% decline level, while the ChiNext Index rebounded from its lowest decline level of 5.67% to near its current 3.25% decline level.
Similarly, accompanying the full recovery of the indices.
Under the effect of the "national team's" strong support buying, as well as the bullish forces from countless active capital groups in the market following suit and taking over, the component weight stocks of various indices and popular conceptual theme stocks were all strongly rebounding.
However, with the further progression of trading time in both markets.
When the Shanghai Composite Index crossed the 2% decline level and contracted to near the 1.5% decline level, while the ChiNext Index contracted to the 3% decline level.
Both markets began to encounter concentrated selling pressure, and major indices experienced a brief pullback.
At this point, 'Teli A', which had originally sustained high volume and oscillated upwards to a 1.85% gain, saw its selling pressure on the market rapidly and fiercely surge as the indices encountered selling pressure and suddenly pulled back.
Countless short-term stock holders trapped yesterday, facing the situation where most of their book losses had been wiped out, or even a small floating profit, with the market in both cities weakening once again, simply couldn't suppress the desire to sell and aggressively exited by selling.
Even the speculative capital main force Yang Kunrong, who held 30,000 lots of 'Teli A' chips.
At this moment, seeing the market in both cities weaken again after a brief rebound, couldn't help but be terrified and brazenly sold out 10,000 lots of chips while 'Teli A' was in the black, further reducing his holding cost.
Facing the suddenly re-consolidated concentrated selling pressure from speculative main forces, retail investors, and large individual investors.
'Teli A''s stock price once again lost support.
It continuously plummeted in a free fall from being in the black.
1% gain, 1% decline, 3% decline, 5% decline...
In less than half an hour.
'Teli A' plummeted all the way from an intraday high of nearly 2 percentage points gain to a 5.63% decline, showing a strong tendency to head for the limit-down again.
At the same time, the Shanghai Composite Index also gradually slipped from an intraday high of 1.52% decline to 3.52%.
As for the ChiNext Index, it also approached an intraday decline of 5% again during this period, from an intraday high of 2.83% decline.
Afterwards, just as the market's panic sentiment began to re-condense.
And concerns about a market liquidity crisis surfaced one after another in the hearts of the broad investor community.
On the market for major index component stocks in both cities, led by the "national team," even more frantic concentrated buying power began to push up stock prices at market prices, regardless of cost.
In just one minute.
These concentrated buying forces pulled the Shanghai Composite Index back to within a 3% decline.
Su Yi saw that the major market indices, under the strong pull of the "national team," were no longer setting new intraday lows, and at the same time, the panic selling sentiment across the entire market, as well as concentrated selling pressure on the market, should have been largely released after two waves of intraday plunges.
He couldn't help but once again turn his gaze back to 'Teli A''s market.
At this time, 'Teli A''s stock price was already at a 5.22% decline, having rebounded somewhat from its recent low.
And the intraday turnover rate had reached 11%, only an 8% gap from yesterday's full-day turnover rate during the big shakeout.
This meant the internal floating chips had been almost fully exchanged, and the selling pressure on the market had already significantly lessened compared to before his first attempt to lift the limit-down.
"It's about time!"
Su Yi stared intently at 'Teli A''s market fluctuations, his gaze gradually becoming sharp.
Immediately, as the Shanghai Composite Index returned to a 2.5% decline, he unhesitatingly placed a 10,000-lot main buy order on 'Teli A''s market, violently sweeping up sell orders at all price levels upwards.
10,000 lots, totaling over 16 million in capital.
Like a gust of strong wind, in an instant, it swept clean the sell orders across dozens of price levels ahead of 'Teli A''s stock price, directly pulling its stock price up to being in the black.
Immediately after, as the 10,000-lot main buy order was exhausted.
Before the group of investors in both markets who were watching 'Teli A' could even react.
Su Yi once again placed a 10,000-lot main buy order on 'Teli A''s market, pushing its stock price in an instant to a 6.36% gain.
And only at this moment did everyone react.
In an instant, strong expectations of a "hell to heaven" reversal, and strong expectations of the bellwether stock reversing and recovering, appeared one after another in the minds of all investors watching 'Teli A'.
Then, accompanied by exclamations of 'Holy crap'.
Tens of millions, even hundreds of millions of short-term active capital groups, like a pack of wolves smelling meat, surged in from all directions, howling.
Meanwhile...
At this moment, Yang Kunrong, sitting in the VIP trading room of Huafu Securities' Yuhang Tiancheng East Road branch, saw 'Teli A''s stock price suddenly surge skyward, rushing straight to the limit-up.
His heart also trembled violently, and an exclamation of 'Holy crap' escaped his lips.
He brazenly followed suit and bought 5,000 lots at the limit-up price, assisting 'Teli A' in hitting and holding the limit-up!
(End of Chapter)
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