Now let's talk about the difference between the two.
First of all, the bull-bear cycle is different.
A shares are generally characterized by a long bear market cycle and a short bull market cycle. Since the appearance of 1990, A * * * has been used for 26 years, and A * * * has experienced eight rounds of bull-bear alternation, in which the average duration of bull market and bear market is 12 months and 25 and 5 months respectively.
U.s. stocks are generally characterized by a long bull market and a short bear market. Starting from 1929 Great Depression, in 1987, American stocks experienced 25 bulls and bears. The average duration of bull market and bear market is 32 months and 10 months respectively. After averaging, we can find that the bull market can turn 1 times, while the bear market only falls by 30%.
Second, the time is different
The most significant time difference between U.S. stocks and A-shares is the lunch break of U.S. stocks. The call auction time and continuous bidding time of A-share trading day are 9: 15-9:25 and 9: 30-1:30 respectively. In the afternoon, there are some differences between Shanghai Stock Exchange and Shenzhen Stock Exchange. The continuous bidding time of the former and the latter is 13: 00- 15 respectively.
US stock trading is mainly divided according to Xia Dong time. Daylight saving time is 265438+ 0: 30 pm Beijing time-4: 00 am the next day, and winter time is delayed by one hour.
Third, the trading system is different.
In terms of trading time limit, A-share trading is mainly in the form of T+ 1, that is to say, if you buy a stock today, you must wait until the second trading day to continue trading.
The trading of US stocks is T+0, which means that you buy a stock, but you can buy and sell it at will on the same trading day.
As far as the settlement system is concerned, A shares implement T+ 1, and US stocks implement T+3. In other words, before liquidation and delivery, US stocks can make full use of funds and stocks for repeated transactions.
Fourth, the daily limit system is different.
As far as price limits are concerned, the maximum and minimum price limits of A shares are 10%, while US stocks have no such institutional restrictions.
Fifth, the stock trend is different.
On the whole, A shares prefer small-cap stocks, mainly because of their strong liquidity and flexibility. US stocks are between small-cap stocks and leading enterprises, and prefer Hong Kong stocks.
Why is this happening? This is because European and American institutional investors account for a large proportion of Hong Kong stock investors. In order to meet the huge asset allocation needs of Public Offering of Fund and insurance funds, they will formulate stricter internal regulations. Based on this, the financial situation and corporate governance of large-cap stocks are more open and transparent, and institutional investors have greater influence, which greatly affects the market's preference for leading stocks.
6. Different from the investment logic of US stocks.
U.S. stocks have always attached great importance to the company's performance, taking the performance expectations given by analysts and companies as the basis for judging the prospects of individual stocks. Whenever the actual performance of listed companies is better than analysts' expectations, stocks are generally loved by investors, and the stock price rises accordingly. Therefore, managing performance expectations is an important responsibility of CFO of American listed companies. Excessive performance expectations may damage the stock price and investors' confidence, which is more likely to lead to the risk of litigation.
In the US stock market, the mainstream investment strategy is momentum strategy, that is, momentum. Most of the stocks that can outperform the broader market in a short time are the result of investors' enthusiasm for this stock and their active buying. This kind of active buying gives impetus to the stock's rise, forming a continuous upward momentum, and the same principle also applies to the decline. Therefore, the turnover rate of US stocks is relatively low, and investors are mostly concerned about the future development of the company, making profits through the improvement of the company's performance, rather than making profits through low absorption and high sales. In addition to the speculative concept mentioned above, the investment logic of A shares also enjoys the investment mode of oversold rebound in China. It should be noted that the sharp decline of each round of A-share single index or single stock is always accompanied by a batch of funds entering the market.
Seventh, there are great differences in supervision.
The A-share market was established late, and the relevant systems and systems are still being improved. The market is also full of concept stocks and theme stocks. For example, because Duolun shares were renamed "Peep", their share price doubled in 10 trading days.
Therefore, the experience of most investors is to buy whatever they have recently speculated. Although investors have saved the effort to study individual stocks and industries, retail investors in China have also become world-famous "leeks", full of the weakness and heartache of China investors.
The American stock market has accumulated 200 years of experience and formed a very strict supervision system, which severely cracked down on fraud and insider trading of listed companies. The strict supervision system has greatly deterred listed companies, and the high illegal cost has greatly reduced the illegal operation in the stock market, effectively protecting the interests of the most vulnerable group in the stock market-individual investors. Therefore, if investors study hard and fully understand the stocks in their hands, they can get good returns most of the time.
All of the above are about the differences between US stocks and A shares. Investors can choose a suitable account opening method according to their actual situation. However, no matter which account opening method you choose, the most important thing is to choose a good brokerage firm. When choosing a brokerage firm to open a US stock account, don't just look at the level of commission to judge which one is good, but also look at the qualification of this brokerage firm and whether it can provide you with better investment help. For example, Aide Securities, a veteran brokerage firm, can help investors to open US stock accounts more conveniently, and can also provide investors with very rich US stock derivative wealth management products to escort your US stock investment!