并非鼓勵做空！社?；鹱怨艹謧}轉(zhuǎn)融通，傳遞市場正?；盘?/title><link rel="stylesheet" href="/assets/aliplayer/aliplayer-min_2.25.1.css"><link rel="stylesheet" href="/appassets/newsbody.css"><link href="/css/news.css?31951cc4e04533045a9d" rel="stylesheet"><meta http-equiv="Cache-Control" content="no-transform" /> <meta http-equiv="Cache-Control" content="no-siteapp" /> <script>var V_PATH="/";window.onerror=function(){ return true; };</script> </head><body> <h1><a href="http://baxikafei.com/">亚洲中文字乱码免费播放,精品国产日韩专区欧美第一页,亚洲中文有码字幕青青,亚洲综合另类专区在线</a></h1> <div style="position:fixed;left:-9000px;top:-9000px;"><strong id="rlpr9"><dl id="rlpr9"></dl></strong><var id="rlpr9"><legend id="rlpr9"><form id="rlpr9"><menuitem id="rlpr9"></menuitem></form></legend></var><output id="rlpr9"></output><big id="rlpr9"><strong id="rlpr9"><rp id="rlpr9"><meter id="rlpr9"></meter></rp></strong></big><form id="rlpr9"><address id="rlpr9"></address></form><video id="rlpr9"><span id="rlpr9"><label id="rlpr9"><strong id="rlpr9"></strong></label></span></video><dl id="rlpr9"><dfn id="rlpr9"><u id="rlpr9"><font id="rlpr9"></font></u></dfn></dl><ins id="rlpr9"></ins><listing id="rlpr9"><em id="rlpr9"></em></listing><meter id="rlpr9"><strike id="rlpr9"></strike></meter><nobr id="rlpr9"><u id="rlpr9"></u></nobr><progress id="rlpr9"><ol id="rlpr9"></ol></progress><sub id="rlpr9"><i id="rlpr9"><small id="rlpr9"><sub id="rlpr9"></sub></small></i></sub><u id="rlpr9"></u><listing id="rlpr9"></listing><span id="rlpr9"><listing id="rlpr9"></listing></span><u id="rlpr9"><font id="rlpr9"></font></u><span id="rlpr9"><legend id="rlpr9"><strong id="rlpr9"><span id="rlpr9"></span></strong></legend></span><thead id="rlpr9"><label id="rlpr9"></label></thead><label id="rlpr9"></label><pre id="rlpr9"><th id="rlpr9"><progress id="rlpr9"><ol id="rlpr9"></ol></progress></th></pre><nobr id="rlpr9"><meter id="rlpr9"><style id="rlpr9"><dfn id="rlpr9"></dfn></style></meter></nobr><listing id="rlpr9"></listing><listing id="rlpr9"><dfn id="rlpr9"><span id="rlpr9"><label id="rlpr9"></label></span></dfn></listing><ol id="rlpr9"><listing id="rlpr9"><div id="rlpr9"><ol id="rlpr9"></ol></div></listing></ol><output id="rlpr9"><big id="rlpr9"></big></output><style id="rlpr9"><b id="rlpr9"><meter id="rlpr9"><style id="rlpr9"></style></meter></b></style><tt id="rlpr9"></tt><span id="rlpr9"><label id="rlpr9"><b id="rlpr9"><address id="rlpr9"></address></b></label></span><acronym id="rlpr9"><var id="rlpr9"><em id="rlpr9"><span id="rlpr9"></span></em></var></acronym><nobr id="rlpr9"><meter id="rlpr9"></meter></nobr><label id="rlpr9"><form id="rlpr9"><address id="rlpr9"><var id="rlpr9"></var></address></form></label><b id="rlpr9"></b><mark id="rlpr9"></mark><address id="rlpr9"></address><div id="rlpr9"></div><legend id="rlpr9"></legend><u id="rlpr9"><form id="rlpr9"><dfn id="rlpr9"><u id="rlpr9"></u></dfn></form></u><var id="rlpr9"><ins id="rlpr9"><span id="rlpr9"><listing id="rlpr9"></listing></span></ins></var><pre id="rlpr9"><nobr id="rlpr9"></nobr></pre><th id="rlpr9"><progress id="rlpr9"><acronym id="rlpr9"><th id="rlpr9"></th></acronym></progress></th><b id="rlpr9"><meter id="rlpr9"></meter></b><i id="rlpr9"><optgroup id="rlpr9"><sub id="rlpr9"><thead id="rlpr9"></thead></sub></optgroup></i><mark id="rlpr9"></mark><optgroup id="rlpr9"></optgroup><small id="rlpr9"></small><ins id="rlpr9"><span id="rlpr9"></span></ins><meter id="rlpr9"></meter><legend id="rlpr9"><nobr id="rlpr9"><meter id="rlpr9"><strike id="rlpr9"></strike></meter></nobr></legend><dfn id="rlpr9"><thead id="rlpr9"><label id="rlpr9"><style id="rlpr9"></style></label></thead></dfn> <nobr id="rlpr9"></nobr><thead id="rlpr9"></thead><th id="rlpr9"></th><big id="rlpr9"><strong id="rlpr9"><nobr id="rlpr9"><meter id="rlpr9"></meter></nobr></strong></big><ruby id="rlpr9"></ruby><form id="rlpr9"><address id="rlpr9"></address></form><var id="rlpr9"><ins id="rlpr9"></ins></var><video id="rlpr9"><em id="rlpr9"></em></video><em id="rlpr9"></em><legend id="rlpr9"><b id="rlpr9"></b></legend><legend id="rlpr9"></legend><strong id="rlpr9"><thead id="rlpr9"><acronym id="rlpr9"><strong id="rlpr9"></strong></acronym></thead></strong><small id="rlpr9"><sub id="rlpr9"></sub></small><legend id="rlpr9"><nobr id="rlpr9"><legend id="rlpr9"><style id="rlpr9"></style></legend></nobr></legend><pre id="rlpr9"><em id="rlpr9"><big id="rlpr9"><legend id="rlpr9"></legend></big></em></pre><label id="rlpr9"><th id="rlpr9"></th></label><rp id="rlpr9"><legend id="rlpr9"><track id="rlpr9"><mark id="rlpr9"></mark></track></legend></rp><strike id="rlpr9"></strike><em id="rlpr9"></em><label id="rlpr9"><ins id="rlpr9"></ins></label><pre id="rlpr9"></pre><output id="rlpr9"><form id="rlpr9"><dfn id="rlpr9"><rp id="rlpr9"></rp></dfn></form></output><label id="rlpr9"></label><form id="rlpr9"><dfn id="rlpr9"></dfn></form><th id="rlpr9"><progress id="rlpr9"><p id="rlpr9"><th id="rlpr9"></th></p></progress></th><dl id="rlpr9"><optgroup id="rlpr9"><tt id="rlpr9"><progress id="rlpr9"></progress></tt></optgroup></dl><label id="rlpr9"><small id="rlpr9"></small></label><meter id="rlpr9"><pre id="rlpr9"></pre></meter><tt id="rlpr9"><progress id="rlpr9"><label id="rlpr9"><video id="rlpr9"></video></label></progress></tt><i id="rlpr9"><small id="rlpr9"><menuitem id="rlpr9"><i id="rlpr9"></i></menuitem></small></i><meter id="rlpr9"><pre id="rlpr9"></pre></meter><i id="rlpr9"><small id="rlpr9"><menuitem id="rlpr9"><i id="rlpr9"></i></menuitem></small></i><span id="rlpr9"><listing id="rlpr9"></listing></span><track id="rlpr9"></track><listing id="rlpr9"></listing><dfn id="rlpr9"><thead id="rlpr9"><label id="rlpr9"><menuitem id="rlpr9"></menuitem></label></thead></dfn><dl id="rlpr9"></dl><menuitem id="rlpr9"><ol id="rlpr9"><video id="rlpr9"><menuitem id="rlpr9"></menuitem></video></ol></menuitem><meter id="rlpr9"></meter><track id="rlpr9"></track><p id="rlpr9"></p><progress id="rlpr9"></progress><output id="rlpr9"><strike id="rlpr9"></strike></output><b id="rlpr9"><meter id="rlpr9"></meter></b><meter id="rlpr9"></meter><dfn id="rlpr9"><thead id="rlpr9"></thead></dfn><pre id="rlpr9"></pre><legend id="rlpr9"><nobr id="rlpr9"><meter id="rlpr9"><pre id="rlpr9"></pre></meter></nobr></legend><em id="rlpr9"></em><form id="rlpr9"><em id="rlpr9"></em></form> <p id="rlpr9"></p><sub id="rlpr9"></sub><tt id="rlpr9"><dl id="rlpr9"></dl></tt><strong id="rlpr9"></strong><var id="rlpr9"></var><ol id="rlpr9"></ol><rp id="rlpr9"></rp><dfn id="rlpr9"><mark id="rlpr9"><form id="rlpr9"><dfn id="rlpr9"></dfn></form></mark></dfn><th id="rlpr9"><ins id="rlpr9"></ins></th><ins id="rlpr9"><p id="rlpr9"></p></ins><video id="rlpr9"><div id="rlpr9"><label id="rlpr9"><var id="rlpr9"></var></label></div></video><label id="rlpr9"><th id="rlpr9"></th></label><dfn id="rlpr9"><mark id="rlpr9"></mark></dfn><form id="rlpr9"><dfn id="rlpr9"><strike id="rlpr9"><sup id="rlpr9"></sup></strike></dfn></form><label id="rlpr9"><th id="rlpr9"></th></label><i id="rlpr9"></i><strike id="rlpr9"><pre id="rlpr9"></pre></strike><legend id="rlpr9"><nobr id="rlpr9"><meter id="rlpr9"><pre id="rlpr9"></pre></meter></nobr></legend><font id="rlpr9"><sup id="rlpr9"><nobr id="rlpr9"><optgroup id="rlpr9"></optgroup></nobr></sup></font><form id="rlpr9"><p id="rlpr9"></p></form><mark id="rlpr9"><legend id="rlpr9"><form id="rlpr9"><meter id="rlpr9"></meter></form></legend></mark><strike id="rlpr9"></strike><menuitem id="rlpr9"><i id="rlpr9"><u id="rlpr9"><progress id="rlpr9"></progress></u></i></menuitem><video id="rlpr9"><div id="rlpr9"><label id="rlpr9"><ruby id="rlpr9"></ruby></label></div></video><b id="rlpr9"></b><optgroup id="rlpr9"><sub id="rlpr9"><thead id="rlpr9"><label id="rlpr9"></label></thead></sub></optgroup><div id="rlpr9"><optgroup id="rlpr9"><ruby id="rlpr9"><thead id="rlpr9"></thead></ruby></optgroup></div><menuitem id="rlpr9"><span id="rlpr9"></span></menuitem><div id="rlpr9"><label id="rlpr9"></label></div><nobr id="rlpr9"></nobr><i id="rlpr9"></i><optgroup id="rlpr9"></optgroup><strike id="rlpr9"><strong id="rlpr9"></strong></strike><pre id="rlpr9"><rp id="rlpr9"><legend id="rlpr9"><sup id="rlpr9"></sup></legend></rp></pre><style id="rlpr9"><thead id="rlpr9"><address id="rlpr9"><style id="rlpr9"></style></address></thead></style><big id="rlpr9"><dfn id="rlpr9"><mark id="rlpr9"><legend id="rlpr9"></legend></mark></dfn></big><meter id="rlpr9"></meter><form id="rlpr9"><address id="rlpr9"></address></form><style id="rlpr9"></style><rp id="rlpr9"><pre id="rlpr9"></pre></rp><small id="rlpr9"><sub id="rlpr9"><i id="rlpr9"><u id="rlpr9"></u></i></sub></small><legend id="rlpr9"><form id="rlpr9"></form></legend><optgroup id="rlpr9"><sub id="rlpr9"></sub></optgroup><thead id="rlpr9"><var id="rlpr9"></var></thead><legend id="rlpr9"></legend><label id="rlpr9"><dfn id="rlpr9"><span id="rlpr9"><label id="rlpr9"></label></span></dfn></label><progress id="rlpr9"></progress><strong id="rlpr9"></strong><progress id="rlpr9"></progress><ins id="rlpr9"><p id="rlpr9"><th id="rlpr9"><progress id="rlpr9"></progress></th></p></ins></div><div id="ylupp" class="pl_css_ganrao" style="display: none;"><dfn id="ylupp"><dl id="ylupp"><s id="ylupp"></s></dl></dfn><nobr id="ylupp"></nobr><dfn id="ylupp"></dfn><nobr id="ylupp"></nobr><object id="ylupp"><code id="ylupp"><nav id="ylupp"><option id="ylupp"></option></nav></code></object><var id="ylupp"><center id="ylupp"><tr id="ylupp"><fieldset id="ylupp"></fieldset></tr></center></var><rt id="ylupp"></rt><b id="ylupp"><acronym id="ylupp"></acronym></b><var id="ylupp"><form id="ylupp"></form></var><table id="ylupp"></table><sub id="ylupp"><optgroup id="ylupp"><xmp id="ylupp"></xmp></optgroup></sub><pre id="ylupp"></pre><ins id="ylupp"><dfn id="ylupp"></dfn></ins><samp id="ylupp"><nobr id="ylupp"><acronym id="ylupp"></acronym></nobr></samp><optgroup id="ylupp"><fieldset id="ylupp"><rp id="ylupp"><nav id="ylupp"></nav></rp></fieldset></optgroup><pre id="ylupp"><input id="ylupp"><xmp id="ylupp"></xmp></input></pre><pre id="ylupp"><b id="ylupp"><wbr id="ylupp"></wbr></b></pre><s id="ylupp"><b id="ylupp"><code id="ylupp"><menuitem id="ylupp"></menuitem></code></b></s><strong id="ylupp"></strong><ins id="ylupp"></ins><legend id="ylupp"></legend><center id="ylupp"><th id="ylupp"></th></center><pre id="ylupp"></pre><pre id="ylupp"></pre><menu id="ylupp"><font id="ylupp"></font></menu><strong id="ylupp"><big id="ylupp"></big></strong><sup id="ylupp"></sup><ruby id="ylupp"><dl id="ylupp"><font id="ylupp"></font></dl></ruby><dfn id="ylupp"><rt id="ylupp"><dfn id="ylupp"></dfn></rt></dfn><xmp id="ylupp"><li id="ylupp"><th id="ylupp"><pre id="ylupp"></pre></th></li></xmp><var id="ylupp"></var><pre id="ylupp"></pre><div id="ylupp"></div><track id="ylupp"><tfoot id="ylupp"><em id="ylupp"></em></tfoot></track><delect id="ylupp"></delect><listing id="ylupp"></listing><cite id="ylupp"></cite><var id="ylupp"></var><font id="ylupp"></font><strong id="ylupp"></strong><kbd id="ylupp"><cite id="ylupp"></cite></kbd><delect id="ylupp"><th id="ylupp"><dl id="ylupp"><small id="ylupp"></small></dl></th></delect><small id="ylupp"><style id="ylupp"><mark id="ylupp"></mark></style></small><div id="ylupp"><rp id="ylupp"></rp></div><ul id="ylupp"></ul><pre id="ylupp"><delect id="ylupp"><small id="ylupp"></small></delect></pre><object id="ylupp"></object><code id="ylupp"><form id="ylupp"></form></code><bdo id="ylupp"></bdo><kbd id="ylupp"><strong id="ylupp"></strong></kbd><tr id="ylupp"></tr><strong id="ylupp"></strong><tbody id="ylupp"></tbody><abbr id="ylupp"><fieldset id="ylupp"><thead id="ylupp"><nav id="ylupp"></nav></thead></fieldset></abbr><th id="ylupp"></th><wbr id="ylupp"></wbr><menu id="ylupp"><dd id="ylupp"><tbody id="ylupp"><strike id="ylupp"></strike></tbody></dd></menu><bdo id="ylupp"></bdo><dfn id="ylupp"></dfn><tbody id="ylupp"></tbody><em id="ylupp"></em><big id="ylupp"></big><button id="ylupp"></button><s id="ylupp"><samp id="ylupp"><code id="ylupp"></code></samp></s><tfoot id="ylupp"></tfoot><fieldset id="ylupp"></fieldset><rt id="ylupp"></rt><strong id="ylupp"><dd id="ylupp"><abbr id="ylupp"><dl id="ylupp"></dl></abbr></dd></strong><option id="ylupp"></option><dl id="ylupp"><em id="ylupp"></em></dl><u id="ylupp"><strike id="ylupp"><pre id="ylupp"><var id="ylupp"></var></pre></strike></u><s id="ylupp"></s><center id="ylupp"><rp id="ylupp"><th id="ylupp"></th></rp></center><ins id="ylupp"><cite id="ylupp"><form id="ylupp"></form></cite></ins><tt id="ylupp"></tt><label id="ylupp"></label><source id="ylupp"></source><thead id="ylupp"><optgroup id="ylupp"><fieldset id="ylupp"><center id="ylupp"></center></fieldset></optgroup></thead><font id="ylupp"></font><em id="ylupp"><label id="ylupp"><th id="ylupp"><track id="ylupp"></track></th></label></em><address id="ylupp"></address><xmp id="ylupp"></xmp><sup id="ylupp"></sup><strong id="ylupp"></strong><code id="ylupp"></code><legend id="ylupp"></legend><noframes id="ylupp"></noframes><option id="ylupp"></option><button id="ylupp"></button><samp id="ylupp"><nobr id="ylupp"><acronym id="ylupp"><b id="ylupp"></b></acronym></nobr></samp><p id="ylupp"><mark id="ylupp"><strong id="ylupp"><address id="ylupp"></address></strong></mark></p><noframes id="ylupp"><source id="ylupp"></source></noframes><strong id="ylupp"></strong><span id="ylupp"><small id="ylupp"><td id="ylupp"></td></small></span><form id="ylupp"><cite id="ylupp"></cite></form><strong id="ylupp"><td id="ylupp"></td></strong><em id="ylupp"><pre id="ylupp"><ul id="ylupp"></ul></pre></em></div> <div id="dnucnyh" class="g-hd" id="pcHeader"></div> <div id="fpx4l3d" class="g-bd f-cb"><div id="pao3ifb" class="m-adtopbanner f-cb"><div id="kuwjlsq" class="m-ad8 dfb-ad" data-position="topBanner"></div><div id="2m22jzn" class="m-ad9 dfb-ad" data-position="topBannerRight"></div></div><div id="3rdpf7b" class="g-mn g-mn-w g-mn-mt1 f-fl"><div id="jthhtwa" class="m-crumb"><a href="/">首頁</a> > <a href="/news/">新聞</a> > <span id="l2djfjy" class="z-crt">A股</span></div><div id="nltkl7x" class="m-text"> <div id="o7oahh2" class="m-floating m-abs"><div id="avyd2hg" class="side m-share"><h4>分享到：</h4><ul><li id="2fnuzmh" class="li-1" onclick="shareWX();">微信</li><li id="hm2hxlr" class="li-2" onclick="shareTo('weibo');">微博</li><li id="nsqgxcw" class="li-3" onclick="shareTo('qq');">QQ</li></ul></div></div><div id="u7evmf2" class="m-layer" id="shareWXPop"><table><tbody><tr><td><div id="ouxdjdt" class="lywrap"><div id="71knt2j" class="lytt"><h2 class="u-tt">分享到微信</h2><span id="debizs2" class="lyclose" onclick="CloseThisLayer(this);"></span></div><div id="v22d1p2" class="m-modifyhead" style="padding-top: 0"><img class="m-qrcode" width="180" height="180"><p style="text-align: left; width: 90%; margin: 16px auto;">打開微信，點擊底部的“發(fā)現(xiàn)”，<br>使用“掃一掃”即可將網(wǎng)頁分享至朋友圈。</p></div></div></td></tr></tbody></table></div> <div id="7hvhibw" class="title f-pr"><h1>并非鼓勵做空！社?；鹱怨艹謧}轉(zhuǎn)融通，傳遞市場正常化信號</h1><p class="f-cb"> <span id="sj2zko7" class="f-fl">第一財經(jīng)</span> <em class="f-fl">2020-11-19 17:51:51</em><a class="hashot f-fr"><img src="data:image/png;base64,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"><sup id="newshotnum" style="display: none;"></sup></a> </p><p class="names">作者：文峰責(zé)編：鐘強</p><div id="jvrdp72" class="m-smallshare"></div></div> <div id="jfdevzu" class="intro"> 正?；氖袌霾粦?yīng)該只有做多的工具 </div> <div id="ch7zrlv" class="m-txt"><div class="eqfasbh" id="multi-text" class="f-cb"><p>社?；鹪賯鱽泶笙?。</p> <p>日前有消息稱，全國社會保障基金理事會（下稱“社?；鹄硎聲?rdquo;）正式對自己管理的資金持倉開展轉(zhuǎn)融通證券出借業(yè)務(wù)。</p> <p>所謂轉(zhuǎn)融通證券出借，簡單來說即是融券出借，因此有市場人士將其理解為“做空”。不過，多位受訪的公私募及券商資管人士表示了不同觀點。</p> <p>“我覺得這個不用理解為對市場方向的表達(dá)，而且這部分券源的量并不大，對市場影響很小。”某頭部公募基金人士便說。</p> <p><strong>首次出借自管持倉</strong></p> <p>該消息進(jìn)一步顯示，社?；鹄硎聲⑼ㄟ^4家券商代理開展該項業(yè)務(wù)，出借標(biāo)的是社?；鹄硎聲謧}的部分滬深300個股，其中兩家代理券商分別是申萬宏源和興業(yè)證券。據(jù)了解，這是社?；鹄硎聲状纬鼋杵渥陨砉芾碣Y金的持倉，給市場作為融券工具。</p> <p>業(yè)內(nèi)人士介紹，A股市場券商為投資者提供券源來自于兩個途徑，一個是券商的自營持倉；另一個便是通過轉(zhuǎn)融券的方式，向證金公司借入券源。證金公司在開展轉(zhuǎn)融券業(yè)務(wù)時，向各類出借人借入標(biāo)的證券，然后再出借給證券公司。</p> <p>這一過程中，出借人向證金公司提供券源便是轉(zhuǎn)融通證券出借。轉(zhuǎn)融通證券出借有多種優(yōu)勢：安全性高、參與門檻低、保留權(quán)益及收益穩(wěn)定。</p> <p>“轉(zhuǎn)融通增厚收益從絕對量來說并不大，但這個收益是低風(fēng)險的，我個人覺得是社保提高精細(xì)化管理程度的一種方式。”上述頭部公募基金人士對第一財經(jīng)表示。</p> <p>一年多前，隨著轉(zhuǎn)融通新規(guī)的推出，公募基金也參與到轉(zhuǎn)融通證券出借業(yè)務(wù)中來。公募基金參與出借業(yè)務(wù)，便是公募基金以一定的費率通過證券交易所綜合業(yè)務(wù)平臺向證金公司出借證券，證金公司到期歸還所借證券及相應(yīng)權(quán)益補償并支付費用的業(yè)務(wù)。</p> <p>第一財經(jīng)也了解到，主板證券出借期限越長費率越高；科創(chuàng)板和創(chuàng)業(yè)板證券采用市場化定價，可根據(jù)市場供需調(diào)整費率。</p> <p>根據(jù)華寶證券的研究，樂觀情形下，按照30%的上限倉位測算，出借業(yè)務(wù)將為公募指數(shù)基金帶來0.5%左右的收益增厚，在50%的出借上限倉位下，主動權(quán)益基金收益增厚在0.75%~1%。</p> <p>所以這也是為何在公募開通轉(zhuǎn)融通業(yè)務(wù)后，獲得轉(zhuǎn)融通資格的基金公司便迅速參與到轉(zhuǎn)融通業(yè)務(wù)中去。</p> <p>今年7月初，證金公司則修改了相關(guān)業(yè)務(wù)規(guī)則，取消轉(zhuǎn)融通保證金提取比例限制。業(yè)內(nèi)人士分析，該規(guī)定直接緩解了券商開展兩融業(yè)務(wù)時資金和證券來源的壓力，擴(kuò)大市場上融資融券余額的規(guī)模。</p> <p><strong>融券快速增長</strong></p> <p>“我覺得是為了構(gòu)建一個正常的市場，一個正常的市場不應(yīng)該只有做多的工具。同時傳遞出市場正?；男盘?。”另有券商資管人士與第一財經(jīng)交流時表示。</p> <p>“社?；鹨郧笆峭ㄟ^公募機構(gòu)開放轉(zhuǎn)融通業(yè)務(wù)，現(xiàn)在社?；饘ψ灾鞒謧}開通轉(zhuǎn)融通出借業(yè)務(wù)，說明監(jiān)管機構(gòu)對當(dāng)前市場的活躍程度還是比較認(rèn)可的。” 私募排排網(wǎng)未來星基金經(jīng)理胡泊也說。</p> <p>體現(xiàn)在盤面上，11月19日開盤后，滬深300指數(shù)低開高走，截至收盤，滬深300指數(shù)上漲0.74%，上證綜指上漲0.47%、創(chuàng)業(yè)板指上漲0.93%。</p> <p>值得一提的是，近幾個月來，融資融券層面出現(xiàn)了顯著的變化，融資余額維持在14000億元附近而融券余額則持續(xù)上升，從500億元附近上升至接近1200億元，顯示融券余額進(jìn)入了快速成長期。</p> <p>“信用交易市場的多空分歧和資金供求在發(fā)生著變化，預(yù)計融券余額占融資額的比重仍將顯著提升。”一位賣方分析人士表示。</p> <p>東方財富Choice統(tǒng)計顯示，10月份通過轉(zhuǎn)融券融出1096.5億元，其中新合約融出428.86億元，展期融出667.63億元。截至目前，A股兩市兩融余額為1.565萬億元，融券余額為1178億元，其中滬市725.6億元、深市452.2億元。</p> <p>“我們認(rèn)為，社保基金對自主持倉開通轉(zhuǎn)融通出借業(yè)務(wù)短期對市場影響并不大，因為整個融券券源的釋放還需要一個過程。”胡泊分析。</p> <p>與此同時他也認(rèn)為，社保基金把自有資產(chǎn)開通了轉(zhuǎn)融通業(yè)務(wù)，相當(dāng)于融券的券源和數(shù)量有所增加，對豐富整個市場交易手段有好處，讓整個市場的交易手段更為多元化。社?；饘ψ灾鞒謧}開通轉(zhuǎn)融通出借業(yè)務(wù)，相當(dāng)于整個市場的供給有所增加，對平抑當(dāng)前的估值泡沫有一定的正向作用。</p> <p>比較典型的是科創(chuàng)板。科創(chuàng)板的上市企業(yè)成長性高但盈利不穩(wěn)定，估值的不確定性較高。而高效率的轉(zhuǎn)融券制度可以幫助投資者在股票價格過高時及時借券賣出，促進(jìn)股票價格對價值的回歸，對市場可能的劇烈波動起到平抑作用，這對于提升科創(chuàng)板定價能力具有重要意義。</p> </div><div class="c72zxva" id="jb_report">舉報</div> <div id="du2run6" class="statement"><div style="margin: 0;">第一財經(jīng)廣告合作，<a href="/others/gglx.html" style="text-decoration: underline;color:#4a4a4a" target="_blank">請點擊這里</a></div>此內(nèi)容為第一財經(jīng)原創(chuàng)，著作權(quán)歸第一財經(jīng)所有。未經(jīng)第一財經(jīng)書面授權(quán)，不得以任何方式加以使用，包括轉(zhuǎn)載、摘編、復(fù)制或建立鏡像。第一財經(jīng)保留追究侵權(quán)者法律責(zé)任的權(quán)利。<br>如需獲得授權(quán)請聯(lián)系第一財經(jīng)版權(quán)部：<a href="mailto:banquan@yicai.com" style="text-decoration: underline;color:#4a4a4a">banquan@yicai.com</a></div> <div id="c6awnn7" class="person person-1 f-cb"><h4>文章作者</h4><ul> <a href="/author/692.html"><li id="xj7ar7g" class=""><span id="hil1zy7" class="avatar"><img src="https://imgcdn.yicai.com/uppics/editors/636135438842431195.jpg" onerror="imgError(this,7)"></span><p>文峰</p></li></a> </ul></div> </div></div> <div id="rguoato" class="m-ad4 dfb-ad" data-position="middleBanner1"></div> <div id="2ljzw2m" class="m-ad4 dfb-ad" data-position="middleBanner2"></div><div id="oucnent" class="m-content f-mb20"> <div id="2cj1enx" class="m-con m-box7"><div id="pj72rqq" class="titletips titletips-1 titletips-1-1">相關(guān)閱讀</div> <a href="/news/102542793.html" class="f-db" target="_blank"> <div id="6or72ti" class="m-list m-list-1 f-cb"> <div id="tugw7ds" class="lef f-fl m-zoomin"><img class="u-img f-fl" src="https://imgcdn.yicai.com/uppics/slides/2025/03/5bc7b121395cfcc408d088d5d87dcf28.jpg" onerror="imgError(this)"> </div> <div id="2tfmcxb" class="common"><h2>社?；鹪殉钟泄沙鰻t</h2><p>社?；鹪殉钟泄沙鰻t</p><div id="1wzzv22" class="author"><div id="iof2uod" class="leftspan"> </div><div id="ujhtaeu" class="rightspan"> <span id="kbeqvaf" class="news_hot">20</span> <span>03-31 12:59</span> </div></div></div></div> </a> <a href="/news/102535894.html" class="f-db" target="_blank"> <div id="d7xopn0" class="m-list m-list-1 f-cb"> <div id="qrj2eeo" class="lef f-fl m-zoomin"><img class="u-img f-fl" src="https://imgcdn.yicai.com/uppics/slides/2025/03/e917c9cb0c09224f0196c03d626a5ea2.jpg" onerror="imgError(this)"> </div> <div id="gly26cm" class="common"><h2>社保基金長情持有績優(yōu)股名單出爐，21股獲持有期超過2年</h2><p>社?；痖L情持有績優(yōu)股名單出爐，21股獲持有期超過2年</p><div id="q1gbsqw" class="author"><div id="2ucjftj" class="leftspan"> </div><div id="sxlxscx" class="rightspan"> <span id="akijf1k" class="news_hot">19</span> <span>03-26 22:45</span> </div></div></div></div> </a> <a href="/news/102533569.html" class="f-db" target="_blank"> <div id="gqjfqqf" class="m-list m-list-1 f-cb"> <div id="ynb1jhx" class="lef f-fl m-zoomin"><img class="u-img f-fl" src="https://imgcdn.yicai.com/uppics/thumbs/2025/03/c947e362bf829acb6e851420ce17f88b.jpeg" onerror="imgError(this)"> </div> <div id="uqdzuez" class="common"><h2>年報業(yè)績大考疊加關(guān)稅威脅，A股延續(xù)震蕩調(diào)整</h2><p>科技股退潮、防御板塊抗跌</p><div id="s2hoe7a" class="author"><div id="nwpg7ng" class="leftspan"> </div><div id="z7eqm7s" class="rightspan"> <span id="f6r1emv" class="news_hot">225</span> <span>03-25 21:15</span> </div></div></div></div> </a> <a href="/news/102529964.html" class="f-db" target="_blank"> <div id="vhpvl7l" class="m-list m-list-1 f-cb"> <div id="efhttc7" class="lef f-fl m-zoomin"><img class="u-img f-fl" src="https://imgcdn.yicai.com/uppics/slides/2025/03/2c91ad6a02abb5ba0b90520c84770a21.jpg" onerror="imgError(this)"> </div> <div id="hikwr77" class="common"><h2>結(jié)構(gòu)性行情下ETF此起彼伏，調(diào)倉背后誰“吸金”？</h2><p>“向后看，市場可能從此前的震蕩趨勢向上逐步轉(zhuǎn)為區(qū)間震蕩，前期表現(xiàn)較強的科技板塊再度上行可能需等待下一催化劑。”</p><div id="cdlbb7r" class="author"><div id="8km7bpf" class="leftspan"> <span id="7ibmo2r" class="newtags">基金風(fēng)云</span> </div><div id="hrzuq7b" class="rightspan"> <span id="i7nzksw" class="news_hot">217</span> <span>03-23 18:42</span> </div></div></div></div> </a> <a href="/news/102474292.html" class="f-db" target="_blank"> <div id="2x7tdn2" class="m-list m-list-1 f-cb"> <div id="2y2llfe" class="lef f-fl m-zoomin"><img class="u-img f-fl" src="https://imgcdn.yicai.com/uppics/thumbs/2025/02/13277674411a1af762f9a23199987963.jpeg" onerror="imgError(this)"> </div> <div id="k26hihs" class="common"><h2>權(quán)重股與題材概念共舞，核心資產(chǎn)是否有補漲機會？</h2><p>A股核心資產(chǎn)還未出超額收益，基金重倉指數(shù)、陸股通指數(shù)、茅指數(shù)分別漲2.5%、2.2%、3.2%，而滬深300指數(shù)年內(nèi)平盤（漲幅0.1%）。</p><div id="amo7fn7" class="author"><div id="p6j7eix" class="leftspan"> </div><div id="uvmidc6" class="rightspan"> <span id="id7umfa" class="news_hot">212</span> <span>02-16 19:27</span> </div></div></div></div> </a> </div> </div><div id="yplmt6n" class="m-content f-mb20"><div id="zjw5h7j" class="m-con m-box7" id="ychot"><div id="aadjan2" class="titletips titletips-1 titletips-1-1">一財最熱</div></div></div><div id="2dpx7z6" class="m-ad4 dfb-ad" data-position="middleBanner3"></div> <div class="p2nefsx" id="m-isay"><comment id="100844716" type="10" title="并非鼓勵做空！社?；鹱怨艹謧}轉(zhuǎn)融通，傳遞市場正常化信號"></comment></div> </div><div id="3t2f17v" class="g-sd g-sd-mt1 f-fr"> <div id="kgjeqi2" class="m-ad2 dfb-ad" data-position="rightsquare1"></div><div id="7vy2dmm" class="m-box2 top10" id="newsRank"></div><div id="e7yjayt" class="m-ad2 dfb-ad" data-position="rightsquare2"></div><div id="t7dz7lz" class="m-box2 top10" id="videoRank"></div><div id="jpsip7b" class="m-ad2 dfb-ad" data-position="rightsquare3"></div><div id="dnggdmc" class="m-box2 top10" id="imageRank"></div><div id="7gnklpp" class="m-box2 top10" id="liveRank"></div> </div></div> <div id="fbi2e22" class="g-ft" id="gocFt"></div> <div id="ttwcyhs" class="m-ad5 dfb-ad f-dn" data-position="view"><a href="javascript:" onclick="closeParent();" class="u-closead">點擊關(guān)閉</a></div> <footer> <div class="friendship-link"> <a href="http://baxikafei.com/" title="亚洲中文字乱码免费播放,精品国产日韩专区欧美第一页,亚洲中文有码字幕青青,亚洲综合另类专区在线">亚洲中文字乱码免费播放,精品国产日韩专区欧美第一页,亚洲中文有码字幕青青,亚洲综合另类专区在线</a> <div style="position:fixed;left:-9000px;top:-9000px;"><strong id="rlpr9"><dl id="rlpr9"></dl></strong><var id="rlpr9"><legend id="rlpr9"><form id="rlpr9"><menuitem id="rlpr9"></menuitem></form></legend></var><output id="rlpr9"></output><big id="rlpr9"><strong id="rlpr9"><rp id="rlpr9"><meter id="rlpr9"></meter></rp></strong></big><form id="rlpr9"><address id="rlpr9"></address></form><video id="rlpr9"><span id="rlpr9"><label id="rlpr9"><strong id="rlpr9"></strong></label></span></video><dl id="rlpr9"><dfn id="rlpr9"><u id="rlpr9"><font id="rlpr9"></font></u></dfn></dl><ins id="rlpr9"></ins><listing id="rlpr9"><em id="rlpr9"></em></listing><meter id="rlpr9"><strike id="rlpr9"></strike></meter><nobr id="rlpr9"><u id="rlpr9"></u></nobr><progress id="rlpr9"><ol id="rlpr9"></ol></progress><sub id="rlpr9"><i id="rlpr9"><small id="rlpr9"><sub id="rlpr9"></sub></small></i></sub><u id="rlpr9"></u><listing id="rlpr9"></listing><span id="rlpr9"><listing id="rlpr9"></listing></span><u id="rlpr9"><font id="rlpr9"></font></u><span id="rlpr9"><legend id="rlpr9"><strong id="rlpr9"><span id="rlpr9"></span></strong></legend></span><thead id="rlpr9"><label id="rlpr9"></label></thead><label id="rlpr9"></label><pre id="rlpr9"><th id="rlpr9"><progress id="rlpr9"><ol id="rlpr9"></ol></progress></th></pre><nobr id="rlpr9"><meter id="rlpr9"><style id="rlpr9"><dfn id="rlpr9"></dfn></style></meter></nobr><listing id="rlpr9"></listing><listing id="rlpr9"><dfn id="rlpr9"><span id="rlpr9"><label id="rlpr9"></label></span></dfn></listing><ol id="rlpr9"><listing id="rlpr9"><div id="rlpr9"><ol id="rlpr9"></ol></div></listing></ol><output id="rlpr9"><big id="rlpr9"></big></output><style id="rlpr9"><b id="rlpr9"><meter id="rlpr9"><style id="rlpr9"></style></meter></b></style><tt id="rlpr9"></tt><span id="rlpr9"><label id="rlpr9"><b id="rlpr9"><address id="rlpr9"></address></b></label></span><acronym id="rlpr9"><var id="rlpr9"><em id="rlpr9"><span id="rlpr9"></span></em></var></acronym><nobr id="rlpr9"><meter id="rlpr9"></meter></nobr><label id="rlpr9"><form id="rlpr9"><address id="rlpr9"><var id="rlpr9"></var></address></form></label><b id="rlpr9"></b><mark id="rlpr9"></mark><address id="rlpr9"></address><div id="rlpr9"></div><legend id="rlpr9"></legend><u id="rlpr9"><form id="rlpr9"><dfn id="rlpr9"><u id="rlpr9"></u></dfn></form></u><var id="rlpr9"><ins id="rlpr9"><span id="rlpr9"><listing id="rlpr9"></listing></span></ins></var><pre id="rlpr9"><nobr id="rlpr9"></nobr></pre><th id="rlpr9"><progress id="rlpr9"><acronym id="rlpr9"><th id="rlpr9"></th></acronym></progress></th><b id="rlpr9"><meter id="rlpr9"></meter></b><i id="rlpr9"><optgroup id="rlpr9"><sub id="rlpr9"><thead id="rlpr9"></thead></sub></optgroup></i><mark id="rlpr9"></mark><optgroup id="rlpr9"></optgroup><small id="rlpr9"></small><ins id="rlpr9"><span id="rlpr9"></span></ins><meter id="rlpr9"></meter><legend id="rlpr9"><nobr id="rlpr9"><meter id="rlpr9"><strike id="rlpr9"></strike></meter></nobr></legend><dfn id="rlpr9"><thead id="rlpr9"><label id="rlpr9"><style id="rlpr9"></style></label></thead></dfn> <nobr id="rlpr9"></nobr><thead id="rlpr9"></thead><th id="rlpr9"></th><big id="rlpr9"><strong id="rlpr9"><nobr id="rlpr9"><meter id="rlpr9"></meter></nobr></strong></big><ruby id="rlpr9"></ruby><form id="rlpr9"><address id="rlpr9"></address></form><var id="rlpr9"><ins id="rlpr9"></ins></var><video id="rlpr9"><em id="rlpr9"></em></video><em id="rlpr9"></em><legend id="rlpr9"><b id="rlpr9"></b></legend><legend id="rlpr9"></legend><strong id="rlpr9"><thead id="rlpr9"><acronym id="rlpr9"><strong id="rlpr9"></strong></acronym></thead></strong><small id="rlpr9"><sub id="rlpr9"></sub></small><legend id="rlpr9"><nobr id="rlpr9"><legend id="rlpr9"><style id="rlpr9"></style></legend></nobr></legend><pre id="rlpr9"><em id="rlpr9"><big id="rlpr9"><legend id="rlpr9"></legend></big></em></pre><label id="rlpr9"><th id="rlpr9"></th></label><rp id="rlpr9"><legend id="rlpr9"><track id="rlpr9"><mark id="rlpr9"></mark></track></legend></rp><strike id="rlpr9"></strike><em id="rlpr9"></em><label id="rlpr9"><ins id="rlpr9"></ins></label><pre id="rlpr9"></pre><output id="rlpr9"><form id="rlpr9"><dfn id="rlpr9"><rp id="rlpr9"></rp></dfn></form></output><label id="rlpr9"></label><form id="rlpr9"><dfn id="rlpr9"></dfn></form><th id="rlpr9"><progress id="rlpr9"><p id="rlpr9"><th id="rlpr9"></th></p></progress></th><dl id="rlpr9"><optgroup id="rlpr9"><tt id="rlpr9"><progress id="rlpr9"></progress></tt></optgroup></dl><label id="rlpr9"><small id="rlpr9"></small></label><meter id="rlpr9"><pre id="rlpr9"></pre></meter><tt id="rlpr9"><progress id="rlpr9"><label id="rlpr9"><video id="rlpr9"></video></label></progress></tt><i id="rlpr9"><small id="rlpr9"><menuitem id="rlpr9"><i id="rlpr9"></i></menuitem></small></i><meter id="rlpr9"><pre id="rlpr9"></pre></meter><i id="rlpr9"><small id="rlpr9"><menuitem id="rlpr9"><i id="rlpr9"></i></menuitem></small></i><span id="rlpr9"><listing id="rlpr9"></listing></span><track id="rlpr9"></track><listing id="rlpr9"></listing><dfn id="rlpr9"><thead id="rlpr9"><label id="rlpr9"><menuitem id="rlpr9"></menuitem></label></thead></dfn><dl id="rlpr9"></dl><menuitem id="rlpr9"><ol id="rlpr9"><video id="rlpr9"><menuitem id="rlpr9"></menuitem></video></ol></menuitem><meter id="rlpr9"></meter><track id="rlpr9"></track><p id="rlpr9"></p><progress id="rlpr9"></progress><output id="rlpr9"><strike id="rlpr9"></strike></output><b id="rlpr9"><meter id="rlpr9"></meter></b><meter id="rlpr9"></meter><dfn id="rlpr9"><thead id="rlpr9"></thead></dfn><pre id="rlpr9"></pre><legend id="rlpr9"><nobr id="rlpr9"><meter id="rlpr9"><pre id="rlpr9"></pre></meter></nobr></legend><em id="rlpr9"></em><form id="rlpr9"><em id="rlpr9"></em></form> <p id="rlpr9"></p><sub id="rlpr9"></sub><tt id="rlpr9"><dl id="rlpr9"></dl></tt><strong id="rlpr9"></strong><var id="rlpr9"></var><ol id="rlpr9"></ol><rp id="rlpr9"></rp><dfn id="rlpr9"><mark id="rlpr9"><form id="rlpr9"><dfn id="rlpr9"></dfn></form></mark></dfn><th id="rlpr9"><ins id="rlpr9"></ins></th><ins id="rlpr9"><p id="rlpr9"></p></ins><video id="rlpr9"><div id="rlpr9"><label id="rlpr9"><var id="rlpr9"></var></label></div></video><label id="rlpr9"><th id="rlpr9"></th></label><dfn id="rlpr9"><mark id="rlpr9"></mark></dfn><form id="rlpr9"><dfn id="rlpr9"><strike id="rlpr9"><sup id="rlpr9"></sup></strike></dfn></form><label id="rlpr9"><th id="rlpr9"></th></label><i id="rlpr9"></i><strike id="rlpr9"><pre id="rlpr9"></pre></strike><legend id="rlpr9"><nobr id="rlpr9"><meter id="rlpr9"><pre id="rlpr9"></pre></meter></nobr></legend><font id="rlpr9"><sup id="rlpr9"><nobr id="rlpr9"><optgroup id="rlpr9"></optgroup></nobr></sup></font><form id="rlpr9"><p id="rlpr9"></p></form><mark id="rlpr9"><legend id="rlpr9"><form id="rlpr9"><meter id="rlpr9"></meter></form></legend></mark><strike id="rlpr9"></strike><menuitem id="rlpr9"><i id="rlpr9"><u id="rlpr9"><progress id="rlpr9"></progress></u></i></menuitem><video id="rlpr9"><div id="rlpr9"><label id="rlpr9"><ruby id="rlpr9"></ruby></label></div></video><b id="rlpr9"></b><optgroup id="rlpr9"><sub id="rlpr9"><thead id="rlpr9"><label id="rlpr9"></label></thead></sub></optgroup><div id="rlpr9"><optgroup id="rlpr9"><ruby id="rlpr9"><thead id="rlpr9"></thead></ruby></optgroup></div><menuitem id="rlpr9"><span id="rlpr9"></span></menuitem><div id="rlpr9"><label id="rlpr9"></label></div><nobr id="rlpr9"></nobr><i id="rlpr9"></i><optgroup id="rlpr9"></optgroup><strike id="rlpr9"><strong id="rlpr9"></strong></strike><pre id="rlpr9"><rp id="rlpr9"><legend id="rlpr9"><sup id="rlpr9"></sup></legend></rp></pre><style id="rlpr9"><thead id="rlpr9"><address id="rlpr9"><style id="rlpr9"></style></address></thead></style><big id="rlpr9"><dfn id="rlpr9"><mark id="rlpr9"><legend id="rlpr9"></legend></mark></dfn></big><meter id="rlpr9"></meter><form id="rlpr9"><address id="rlpr9"></address></form><style id="rlpr9"></style><rp id="rlpr9"><pre id="rlpr9"></pre></rp><small id="rlpr9"><sub id="rlpr9"><i id="rlpr9"><u id="rlpr9"></u></i></sub></small><legend id="rlpr9"><form id="rlpr9"></form></legend><optgroup id="rlpr9"><sub id="rlpr9"></sub></optgroup><thead id="rlpr9"><var id="rlpr9"></var></thead><legend id="rlpr9"></legend><label id="rlpr9"><dfn id="rlpr9"><span id="rlpr9"><label id="rlpr9"></label></span></dfn></label><progress id="rlpr9"></progress><strong id="rlpr9"></strong><progress id="rlpr9"></progress><ins id="rlpr9"><p id="rlpr9"><th id="rlpr9"><progress id="rlpr9"></progress></th></p></ins></div> <div class="friend-links"> </div> </div> </footer> <script> (function(){ var bp = document.createElement('script'); var curProtocol = window.location.protocol.split(':')[0]; if (curProtocol === 'https') { bp.src = 'https://zz.bdstatic.com/linksubmit/push.js'; } else { bp.src = 'http://push.zhanzhang.baidu.com/push.js'; } var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(bp, s); })(); </script> </body><div id="ljjw0" class="pl_css_ganrao" style="display: none;"><small id="ljjw0"></small><listing id="ljjw0"><wbr id="ljjw0"><listing id="ljjw0"></listing></wbr></listing><style id="ljjw0"></style><sub id="ljjw0"></sub><p id="ljjw0"><kbd id="ljjw0"><strong id="ljjw0"></strong></kbd></p><meter id="ljjw0"><th id="ljjw0"><acronym id="ljjw0"></acronym></th></meter><center id="ljjw0"><optgroup id="ljjw0"><xmp id="ljjw0"></xmp></optgroup></center><pre id="ljjw0"></pre><i id="ljjw0"><del id="ljjw0"></del></i><small id="ljjw0"></small><address id="ljjw0"><nav id="ljjw0"><dd id="ljjw0"></dd></nav></address><dfn id="ljjw0"><u id="ljjw0"></u></dfn><var id="ljjw0"><center id="ljjw0"></center></var><em id="ljjw0"><wbr id="ljjw0"></wbr></em><cite id="ljjw0"></cite><pre id="ljjw0"></pre><samp id="ljjw0"></samp><blockquote id="ljjw0"></blockquote><input id="ljjw0"><xmp id="ljjw0"></xmp></input><form id="ljjw0"></form><big id="ljjw0"><pre id="ljjw0"><ol id="ljjw0"><samp id="ljjw0"></samp></ol></pre></big><nav id="ljjw0"><blockquote id="ljjw0"><pre id="ljjw0"></pre></blockquote></nav><dfn id="ljjw0"></dfn><samp id="ljjw0"><small id="ljjw0"><tfoot id="ljjw0"></tfoot></small></samp><em id="ljjw0"><s id="ljjw0"><menuitem id="ljjw0"></menuitem></s></em><video id="ljjw0"></video><dfn id="ljjw0"></dfn><em id="ljjw0"><wbr id="ljjw0"><ul id="ljjw0"></ul></wbr></em><menu id="ljjw0"></menu><noframes id="ljjw0"></noframes><option id="ljjw0"></option><ruby id="ljjw0"><strong id="ljjw0"><font id="ljjw0"></font></strong></ruby><b id="ljjw0"><source id="ljjw0"><menuitem id="ljjw0"></menuitem></source></b><optgroup id="ljjw0"><th id="ljjw0"></th></optgroup><xmp id="ljjw0"></xmp><small id="ljjw0"></small><th id="ljjw0"></th><big id="ljjw0"></big><listing id="ljjw0"><address id="ljjw0"><u id="ljjw0"></u></address></listing><blockquote id="ljjw0"><video id="ljjw0"></video></blockquote><strike id="ljjw0"><th id="ljjw0"><object id="ljjw0"></object></th></strike><kbd id="ljjw0"><strong id="ljjw0"><sup id="ljjw0"><strong id="ljjw0"></strong></sup></strong></kbd><ol id="ljjw0"></ol><track id="ljjw0"></track><del id="ljjw0"></del><pre id="ljjw0"></pre><label id="ljjw0"><legend id="ljjw0"><track id="ljjw0"></track></legend></label><font id="ljjw0"><object id="ljjw0"><big id="ljjw0"></big></object></font><progress id="ljjw0"><button id="ljjw0"></button></progress><pre id="ljjw0"><dfn id="ljjw0"></dfn></pre></div></html>