The first day is the best. New debt refers to convertible bonds, which can be traded on the day of listing after the lottery. The probability of new bonds rising on the first day of listing is high, with an average increase of about 10%-30%. Generally speaking, it is better to sell at 9:30~ 10:00 on the day of listing, which is also a relatively high income. However, we should also pay attention to the risk of breaking new bonds on the first day of listing, that is, the price after listing is lower than the issue price 100 yuan, such as the expansion of convertible bonds, the cash withdrawal of major shareholders, and the adjustment of A-share market. Then after this happens, if investors are not optimistic, they can continue to sell. The decline of convertible bonds is usually less than the increase, and the decline will generally not exceed 10%.

1. Convertible bonds are bonds that bondholders can convert into common shares of the company at the price agreed at the time of issuance. If the bondholders do not want to convert shares, they can continue to hold the bonds until the repayment period expires to collect the principal and interest, or they can be sold and realized in the circulation market. If the holder is optimistic about the appreciation potential of the issuing company's shares, he may exercise the right to convert the bonds into shares at a predetermined conversion price after the grace period, and the issuing company shall not refuse. The interest rate of this bond is generally lower than that of ordinary companies, and the issuance of convertible bonds by enterprises can reduce the financing cost. The holder of convertible bonds also has the right to sell the bonds back to the issuer under certain conditions, and the issuer also has the right to redeem the bonds under certain conditions.

2. China stock market is the stock market in People's Republic of China (PRC). 1989 was started as a pilot project, and it was established in line with the concept of stopping when it is tried, or stopping when it is not good. Therefore, in the stock market operation before 1995, the biggest negative news is usually the news that the China stock market pilot will stop and the stock market will close. After the "3.27 Treasury bond futures incident", the China futures market was completely rectified and cleaned up on 1995, and the China stock market became the object of support, which ushered in a real positive and entered a period of great development. The biggest feature of China stock market is that state-owned shares and legal person shares promise not to circulate when they are listed, so only the tradable shares are traded in the market according to the share price, but the index is calculated according to the total share capital, thus forming the characteristic of "controlling more with less" in trading.