1 Features: large fluctuation.
Bull market:1990 65438+February19 ~ 65438+May 26th 0992
After the official opening of the Shanghai Stock Exchange, it continued to rise for two and a half years, and finally reached the high point of 1429 under the stimulation of canceling the price limit.
Bear market: 65438+May 26th 0992 ~1992165438+10/7.
After the impulse, the market began to return to value, and the immature stock market fluctuated greatly. In only half a year, the stock index dropped from 1429 to 386.
2 Features: Rapid rise.
Bull market:1992 165438+10/7 ~1993 February16.
A rapid decline is cool, and a rapid rise is even cooler. Half a year's decline, all rose back in three months. It only took three months from 386 to 1558.
Bear market:1993 February16 ~1994 July 29th.
After the rapid bull market rose, Shanghai Old Eight Shares announced its expansion. With the continuous issuance of new shares, the stock index returned to 325 points.
3 characteristics: the introduction of a good bailout
Bull market: 65438+July 29th 0994 ~ 65438+September13,0994.
In order to rescue the market, the relevant departments have launched three favorable rescue measures: 1. Suspension of IPO during the year; 2. Strictly control the scale of rights issue of listed companies; 3. Take measures to expand the scope of capital entering the market. In a month and a half, the stock index rose by 200%, reaching a maximum of 1052.
Bear market:1994 September 13 turn1995 May 17.
With the soaring stock price, there is always an invisible hand pushing the stock market down. In May 1995, the stock index has returned to 577 points, a decrease of nearly 50%.
4 characteristics: the bull market is extremely short
Bull market:1995 May18 ~1995 May 22
This bull market has only three trading days. Affected by the news that the management closed the treasury bond futures, the stock index rose from 582 points to 926 points in three days.
Bear market:1May 22, 995 ~ 199665438+1October19.
After the short bull market, the stock index reached a stage low of 5 12, and the stock prices of blue-chip stocks generally oversold, which provided the conditions for a new round of market.
5 Features: Blue chip stocks led the gains.
Bull market: 1996 65438+ 10/9 ~1997 May 12.
Advocating excellent performance has become the mainstream investment concept in the market. Under the leadership of SDB and other stocks, the stock index returned to 15 10. From 1 April, 9961to1February 12, the Shanghai Composite Index rose by 124%, the Shenzhen Component Index rose by 346%, and more than 100 stocks rose more than five times. Shenzhen Development, the two leading enterprises, reached 20.50 yuan from 6 yuan and 27.45 yuan from 7 yuan in Sichuan Changhong.
Bear market:1997 May12 ~1999 May 18.
This round of adjustment is also due to excessive speculation. After the blue-chip stocks were fully hyped, the stock index has fallen to 1047. The most famous is the special commentator's article "Correctly Understanding the Current Stock Market" published by People's Daily, which points out that we should be highly alert to the serious excessive speculation and possible risks in the securities market. On the day the article was published, with the introduction of the price limit system, the market plummeted.
6 Features: It was the highest in history.
Bull market:1999 May19 ~ 20065438+0 June 14.
This bull market is commonly known as "5. 19" market, and the strong eruption of online concept stocks pushed the Shanghai Composite Index to an all-time high of 2245 points. The direct explosion point of "5 19" market is shanghai securities news reporter Wei Li's "Can Internet stocks become a leader-Thoughts on China listed companies entering the Internet industry". When the market opened, Internet stocks such as Oriental Pearl, Radio and Television, and Shensangda led the gains.
This time, the People's Daily once again published a special commentator's article "Strengthening Confidence and Standardizing Development", reiterating that the stock market is recovering and asking all parties to strengthen their confidence. It was in this round of market that Yi 'an Technology broke through the 100-yuan mark, but in the end it became a scandal.
Bear market: 20065438+0 June 2005 65438+04 ~ June 6.
After the "5 19" market, the market is most concerned about the issue of non-tradable shares. The stock index also fell from 2,245 points to 998 points, and the stock index fell more than 50% in four years.
7 Features: The adjustment time has the longest history.
Bull market: June 6, 2005 ~ unknown
After the longest adjustment in this round of history, the price-earnings ratio of A-share market has dropped to a reasonable level, and a new round of market is quietly brewing. At present, this round of bull and bear market is ups and downs, from 998 to 6 124, which makes countless new investors dream of getting rich overnight, but when they wake up, they are struggling in the swamp of 3000 points. This time, we experienced the first half of a bull market and a bear market. What will happen in the second half of the year?