昨日上证综指开盘2164.04点，最高2164.04点，最低2153.32点，收报2136.74点，下跌32.07点，跌幅1.48%，成交630.98亿元。深证成指开盘9226.46点，最高9226.46点，最低9035.41点，收报9039.22点，下跌198.98点，跌幅2.15%，成交622.55亿元。

The Shanghai composite index opened yesterday 2164.04 points，The highest point of 2164.04，The lowest 2153.32 points，At 2136.74 points，Down 32.07 points，Fall 1.48%，Clinch a deal is 63.098 billion yuan。Shenzhen stock exchange ChengZhi opening 9226.46 points，The highest point of 9226.46，The lowest 9035.41 points，At 9039.22 points，Down 198.98 points，Fall 2.15%，Clinch a deal is 62.255 billion yuan。

　　两市早盘双双低开，受国务院楼市督查组定调从严消息，地产股出现集体下跌，带动了水泥板块下跌。随后，券商股也因整体业绩大幅下滑而全线下挫，龙头股中信证券(600030,股吧)一度接近跌停。下午一点半后，大盘在前述三板块拖累下大幅杀跌，沪指接连跌破30日、5日、20日、10日等4条支撑线。

Two cities in early trading, both low open，By the state council, the property market DuZhaZu pitch strictly news，Property counters were appear collective fall，Drive the cement plate down。then，Brokers shares also because the overall performance and a sharp decline in all，The main item stock citic securities(600030,guba)Once close to drop stop。At half-past one afternoon after，The market in the foregoing three plate drag down sharply winners，For below 30 boomed、5,、20、10 and four support line。

　　从盘面上看，仅船舶、农林牧渔、银行等板块上涨，券商、保险、水泥、地产、机械、纺织等板块跌幅居前。早盘农业股大幅攀升，但尾盘仅勉强收红。黄金概念早盘维持强势，尾盘迅速下行。泉州“国家金改试验区”持续发酵，相关概念股上涨。

Look from the disk，Only ship、Farming, forestry, husbandry and fishing、Banks and other plate rise，brokers、insurance、cement、Real estate、mechanical、Textile, etc in the fall before。Early disc agricultural stock has risen sharply，But stern plate only barely accept red。Gold concept early disc to remain strong，End dish rapid downward。quanzhou“National gold to test site”Continuous fermentation，Related concept stock rise。

　　个股方面，两市298家上涨，2370家下跌。8只非ST股涨停，隆鑫通用(603766,股吧)、晶盛机电(300316,股吧)、深赛格等跌停，120余只股票跌幅超5%。

In individual stocks，Two city rise in 298，2370 fall。Only 8 non ST shares harden，Southeast general(603766,guba)、Crystal cheng mechanical and electrical(300316,guba)、Deep stablished drop stop, etc，More than 120 stocks fell over 5%。

　　大跌原因看过来

Crash reason see come over

　　继上周五股指开始调整后，昨日市场再度大幅杀跌，分析下来有多重原因。

The stock index began last Friday after adjustment，Another big winners yesterday market，There are many reasons analysis down。

　　一是国务院楼市督查组定调从严，致使地产板块走势低迷，而相关水泥、建材等板块也追随走低。

One is the property of the state council DuZhaZu pitch strictly，The real estate downturn plate movements，And the related cement、Building materials sector also follow low。

　　二是央行公布的数据显示，7月人民币贷款新增5401亿元，较6月份少增3797亿元，表明企业有效信贷需求不足，说明经济下行压力大。

The second is the central bank figures showed，July RMB loans increased by 540.1 billion yuan，In June a little increase 379.7 billion yuan，It shows that the enterprise effective credit demand，Explain economic downward pressure big。

　　三是7月全国出口总额同比仅增长1%，分别比5月和6月的增幅回落14%和10%，为6个月来的最低水平。进出口下滑对经济不利，对股市不利。

Three is July national exports only 1% year-on-year growth，Than respectively may and June rise a drop of 14% and 10%，For six months to the lowest level。Import and export decline of economic disadvantage，Adverse to the stock market。

　　四是中石油公布已获批发行400亿元公司债券，融资压力增大。

The fourth is petrochina announced already approved company bonds issue 40 billion yuan，Financing pressure increase。

　　五是周末降准预期直接落空，导致市场信心极度受挫，上周五赌利好的资金大举离场。

Five is weekend drop quasi is expected to fall to the ground directly，Lead to market confidence extreme frustration，On Friday a supportive funds massive off。

　　六是大盘自2100点反弹以来，分时指标开始出现背离趋势。而之前的60分钟顶背离已被盘中修复，从而把调整的周期延伸到120分钟级别，加大了市场调整的压力。

The sixth is grail since 2100 points since the rebound，Time-sharing index began to appear deviating trend。And the top 60 minutes before departure from has been plate repair，Thus the adjustment period extended to 120 minutes level，Increased the pressure of market adjustment。

　　敖刚

AoGang