The markets of the two cities opened higher and moved higher. ferrous and sectors , - Nonferrous Metals and many other stocks closed their daily limit, Zijin Mining rose 8%, Jiangxi Copper rose more than 7%, driving the broader market to break through the morning high, and the market rose to around 3036 points, but the market still did not break through the previous high of 3039 points. In the end, because the GEM took the lead in diving, the broader market fell, and the chip stocks that were strong in the early stage weakened across the board. Shengbang shares fell by more than 7%, Zhichun Technology and Saiteng shares , which was strong in the early stage Zhejiang Commercial Securities , Founder Securities , etc. fell by nearly 4%, led by photoresist, fluorine chemical, semiconductor and other sectors, driving the ChiNext to fall by more than 1%. At press time, the Shanghai Stock Exchange closed down 2 points. On the disk, two Market stocks fell more and rose less, with smart wear, OLED concepts, Xiaomi concepts, chips, lithography machines, domestic software and other sectors leading the decline; Scarce resources, gold, nonferrous metals, pork and other sectors rose the most, with nearly 40 stocks in the two cities. Daily limit, 2 stocks fell limit.
Shanghai-Hong Kong-Shenzhen Stock Connect funds stopped trading for 3 days, and the market rose for 3 consecutive days. Today, Shanghai-Hong Kong and Shenzhen Stock Connect opened for trading. By the morning when the market rose, the northbound capital inflow exceeded 2 billion yuan, and then the market rose and fell, and the northbound bought in the morning. Funds are basically quilted, and after the rise of the SSE 50 in the past few days, the blue-chip stocks bought by northbound funds are basically at a high level, which is basically in line with the analysis of our morning blog "Let's cut a handful of leeks today", but some friends said Now there are no leeks, only onions! I'm just speechless!
Are you surprised that the broader market has risen and fallen today? As long as you follow our blog or live broadcast, it should not be surprising, because we have been reminding that this round of market rebound is mainly bet on the central bank's RRR cut over the weekend. Goods are fulfilled, and no RRR cuts are good losses. Both trends will trigger a correction in the broader market. The important thing is that when the market rose to around 3039 a few days ago, the Shanghai stock market volume can exceed 300 billion yuan, and the highest is 3021 on December 17. 100 million yuan, and then the market fell by more than 200 billion yuan, and the rebound of the market in recent days has not exceeded 200 billion yuan, indicating that the tens of billions of funds evacuated have not entered the market. The amount of energy that reached 3036 points has not exceeded the previous 302.1 billion yuan, so it is normal for the market to fall near the previous high!
The recent market rises are basically related to the central bank’s RRR cut. From yesterday’s rise in real estate to today’s rise in banks and non-ferrous metals, all are related to the central bank’s RRR cut. Therefore, the news of the central bank’s RRR cut is no longer important. Next week It will enter the stage of annual report performance forecasting. Listed companies with thunderous performance or significant pre-decrease must forecast in advance. Statistics show that 549 companies have announced their 2019 annual performance forecasts. The type of performance forecast shows that there are 193 companies with pre-increase and 73 companies with pre-profit, and the total proportion of companies reporting good news is 48.45%; there are 111 and 74 companies with pre-loss and pre-reduction in performance, respectively. The sectors with pre-increased performance are mainly concentrated in technology stocks such as electronics and computers. Therefore, the probability of the broader market falling sharply next week is not high.
CDB Securities believes that based on the performance of the spring market over the years, the market index in this round still has an opportunity to rise, and the Shanghai index is expected to reach 3250 points. The historical market shows that infrastructure, cycle, and technology stocks outperform medicine and consumption. However, technology stocks deviate from a large short-term upward trend, and the risk-return ratio is not good. More attention is paid to the medium-term opportunities of infrastructure, finance, and cycles, and the potential for supplementary growth of Internet, media and other varieties. . For other analysis, please pay attention to "Trend Cruise".