Yesterday, the three A-share indexes continued their recent adjustment trend, and the Shanghai Stock Exchange Index reached a minimum of 2960 points. By the end of the day, the three major stock indexes in the A-share market had all fallen by more than 1%, and further corrected after falling below 3000 points.
Recently, the performance of the A-share market has been volatile. As of the close of yesterday, the three major stock indexes of the A-share market all fell by more than 1%, and further corrected after falling below 3000 points. For this reason, several institutions have given relevant research and judgment:
gf securities The research paper said that yesterday, the three A-share indexes continued the recent adjustment trend, and the Shanghai Stock Exchange Index reached the lowest point of 2960. The industry sector fell, with nearly 5000 stocks falling in both markets, and only more than 300 stocks bucked the trend. The economic data of May disclosed last week is generally flat, export growth faces risks, domestic demand recovery has not yet seen a turning point, and the effect of stabilizing growth policy needs to be further revealed. Considering that asset prices may have reflected investors' overly pessimistic expectations after the current index fell for six weeks in a row, there is still a blockbuster meeting held in July. The system will continue to be improved under the future steady growth policy plus the current capital market policy dividend, which will form strong support for the market. Recently, the trading volume of the two cities has remained at the level of 700 billion, and the downward space of the overall index is expected to be relatively limited. Although the repair market of A-share market since February has twists and turns, it will continue. The overall opportunity below 3000 points of the Shanghai Stock Index is greater than the risk. The market may rebound at any time. It is not advisable to blindly kill the current position of high-quality targets.
Zhongyuan Securities The research paper said that on Monday, the A-share market opened at a low opening and moved up at a low level. After opening at a low opening in the morning, the stock index fluctuated and fell back. The Shanghai index gained support around 2960 points in the middle of the day. In the afternoon, the stock index rebounded after shocks. The electricity, banking, insurance, securities, aviation and airport and other industries performed well in the middle of the day; Communication equipment, software development, semiconductors, automobiles and other industries showed weak performance, and the Shanghai Stock Index basically showed the operation characteristics of shock consolidation throughout the day. The GEM market was shaken and consolidated on Monday, and the performance of the index was basically synchronized with that of the main board market throughout the day. The turnover of the two cities on Monday was 698.7 billion yuan, which was below the median daily turnover in the past three years. The release of the New National Nine Rules promotes the maturity of the market and boosts the long-term confidence of the market. The economy is relatively stable, investment has slightly dropped, consumption has gradually stabilized, and industrial production has cooled. The Governor of the Central Bank said that the purchase and sale of government bonds in the secondary market would gradually be included in the monetary policy toolbox, and the purchase and sale of government bonds would be positioned as a basic money delivery channel and a liquidity management tool to jointly create a suitable liquidity environment. The US inflation data was lower than expected, and the overseas market showed differentiation. In the future, the stock index is expected to maintain a volatile pattern in general, and it is still necessary to pay close attention to the changes in policy, capital and external factors. We suggest that investors pay short-term attention to investment opportunities in construction machinery, petrochemical industry, software development and semiconductor industries.
West China Securities According to the research report, since late May, A-shares have turned to shock and recuperation. The core lies in the verification period of fundamental data. The lack of macroeconomic elasticity restricts risk appetite. At present, the valuation of most A-share broad based indexes has been repaired to near the median in the past three years, and the subsequent further rise of market risk appetite needs to wait for new catalysis. In terms of funds, 2024 Lujiazui On the forum, the regulators repeatedly emphasized "expanding patient capital". Subsequent insurance funds, social security funds, etc. are expected to become important sources of incremental funds. Therefore, there is no need to be overly pessimistic about the future market. A shares are expected to move up gradually in the year of shocks. In terms of style, in the environment of low interest rates and asset scarcity, high dividend assets are still an important direction of medium - and long-term capital allocation.
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