2023-08-21 08:15:17
The relevant policies announced by the China Securities Regulatory Commission last Friday (18th) were not recognized by the market, and the five-year LPR interest rate cut expectations fell through. The Chinese stock market continued to fall on Monday.The Shanghai Composite IndexIt fell below 3100 points, the lowest level this year.
Hong Kong stocks fell due to the sharp drop in real estate stocks. Sunac China fell by about 13%, and KWG Group fell by about 8%. The Hang Seng Index closed down 1.82%, closing at 17623 points, the Hang Seng Technology Index fell 2.1%, technology stocks, auto stocks also underperformed.
As of closing,The Shanghai Composite IndexIt fell 1.24% to 3092.98 points, the Shenzhen Component Index fell 1.32% to 10320.39 points, the ChiNext Index fell 1.6% to 2084.97 points, and the Science and Technology 50 Index fell 1.34% to 892.09 points.The total turnover of the Shanghai and Shenzhen stock markets was 678.262 billion yuanRMBThe actual net sale of northbound funds was 6.412 billion yuan, which was a net sale for 11 consecutive days.
On the disk, sectors and concept stocks such as environmental protection, space computing, public utilities, computing power, and engineering consulting services were among the top gainers; sectors and concept stocks such as aviation and airports, insurance, securities companies, pharmaceutical business, photovoltaic equipment, and logistics were among the top decliners.
In terms of news, Shanghai Airport and Baiyun Airport both issued clarification announcements at noon in response to the rumors that CDFG and the airport re-signed the agreement today, and the deduction points for duty-free operations will drop significantly. Shanghai Airport stated that it was not true that the company and CDFG had re-signed the agreement, while Baiyun Airport stated that the company and CDFG had not discussed the issue of adjusting the deductions. The stock prices of Shanghai Airport and Baiyun Airport both hit their lower limit this morning.
On August 21, a number of public funds, securities firms, and securities firm asset management companies successively announced self-purchase. Among them, Guotai Junan Asset Management self-purchased 200 million yuan, CITIC Securities self-purchased 100 million yuan, and the self-purchased amount ranked first. E Fund, Huaxia, GF, Wells Fargo, Harvest, China Universal, South China, China Europe, Xingquan and other public offering companies all announced Self-purchased 50 million yuan to invest in its equity fund products. As of 2:50 pm, the total amount of self-purchase has reached 820 million yuan.
Looking forward to the market outlook, Minsheng Securities stated that the current entanglement and volatility in the market stems from the synergy of two forces, the unique phenomenon of “short liquidation” in A shares, and the impact of global liquidity. “China Power” is slowly recovering from the tangle. During the “double bottom” period of the market, the characteristics of “weakened strong varieties in the early stage and strengthened weak varieties” have also appeared. Don’t give up hope at this moment.
Guosheng Securities believes that it is better to stay still than to move, and to deal with short-term fluctuations with medium-term thinking; structurally, continue to use dividend assets as ballast stones, and at the same time, when the index returns to the lower edge of the range, there can be more odds thinking, and opportunities to participate in pro-cyclical rebounds on dips . 1. Odds thinking & policy-driven low-level procyclicality: insurance, transportation, home appliances; 2. Taking into account the performance of mid-term reports & the direction of improvement in the supply and demand pattern: commercial vehicles, industrial metals; 3. The medium-term “ballast stone” dividend heavy Estimation: Oil and Gas Extractor/Operator.
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