The three major indexes once went higher in the morning, but then unilaterally declined, the chinext index fell more than 5% in the intraday, the Shenzhen index fell more than 3.5%, the Shanghai index fell more than 2%, most of the theme plates weakened, liquor, military, agricultural sectors fell sharply, oil and gas, nuclear power, power sectors are relatively active, the decline in individual stocks increased to more than 3,000, the fried plate rate continued to rise, the market atmosphere was poor.
On the disk, the weighted stocks fell collectively again, with the Flush (300033) Pretty 100 Index falling more than 4%, Guizhou Moutai (600519) falling more than 4%, BYD (002594) falling to a stop, Ningde Times (300750) falling 5%, the concept of holding the wind vane liquor fell in the front, Luzhou Laojiao (000568), Shanxi Fenjiu (600809) fell to a halt; the national defense and military industry sector continued to decline in the two cities, Hangfa Power (600893), Nearly ten shares such as AVIC Shenfei (600760), AVIC Xifei (000768), Hongdu Airlines (600316) have fallen to a halt; benefiting from the rise in international oil prices, the oil and gas extraction sector as a whole has maintained a strong position, and Huibopu (002554) and quasi-oil shares (002207) have risen and stopped.
In terms of trading volume, the total transaction amount of the two cities was 978.9 billion yuan, which was slightly higher than last Friday. Northbound funds traded a total of 127.119 billion yuan, accounting for 12.99% of the total trading volume of A-shares.
Specifically, northbound funds sold a total of 8.589 billion yuan today, of which the Shanghai Stock Connect net sold 4.695 billion yuan and the Shenzhen Stock Connect net sold 3.894 billion yuan.
What about a bull market? Suddenly there was a bear market
A few years ago it was a bull market, today it is already a bear market. On March 8, A-share Shanghai and Shenzhen two cities high open low, market sentiment is low, the index in the morning high after the rapid decline, the Shanghai index fell more than 2% in the afternoon, the ChiNext index fell nearly 5%, the lowest down to 2726 points, more than the recent high retracement of more than 20%, according to the international rules, the ChiNext index has entered a technical bear market.
For the recent sharp decline in the A-share market, market analysis believes that it is mainly due to the us 10-year Treasury bond yield rising again. As we all know, the surge in US treasury interest rates will lead to the double blow of limited domestic increase and slowdown in foreign capital inflows, so in the case of the rise in US treasury interest rates has not stopped, the market valuation, especially the downward pressure on the valuation of group stocks, is still large.
Different from the pessimistic performance of the market, institutions are still full of confidence in the future market of A shares.
Guosheng strategy said that after the adjustment, the counter-offensive horn has been sounded. 1) After experiencing continuous adjustments since the Spring Festival holiday, the current market has given back all the gains since the beginning of the year, and the fear of height and profitability accumulated due to the rapid rise in the early stage have been significantly released. 2) The country is still in the early stages of inflation, and the market will continue to reflect economic recovery expectations. 3) Global monetary policy remains accommodative, and fiscal stimulus continues to increase. 4) The most tight time for domestic liquidity is over. 5) When the two sessions are carried out, the domestic market policy expectations are heated up.
Haitong Securities also pointed out that the pattern of the A-share bull market has not changed. The latest view of the Xun Yugen team of Haitong Strategy believes that there are only two signals for the real end of the bull market, one is that the fundamentals have peaked; the other is that the emotional indicators have reached the extreme. This round of bull market stands at the current time, the fundamentals are obviously not finished, from the inventory cycle and policy transmission time lag calculation, the general round of profit cycle in the recovery stage takes 6-7 quarters, to all A-share ROE (TTM) portrayal, the current round of profit cycle from 20Q3 began to rise, according to the profit cycle to infer the high point of fundamentals may be in the fourth quarter of this year or the first quarter of next year. Assuming that the historical bull market temperature was 100 degrees, the current temperature is about 65 degrees.
The photovoltaic sector was "completely destroyed" 300 billion monocrystalline silicon faucets were sealed and stopped
Compared with the index, the sector is much more miserable, especially the photovoltaic sector is "completely destroyed".
On March 8, the photovoltaic sector soared and fell, and the total market value of LONGi Shares (601012), a monocrystalline silicon leader with a total market value of more than 400 billion yuan, directly sealed the stop in the afternoon, with a turnover of more than 10 billion.
Silicon leader Tongwei shares (600438) also fell 9%, after experiencing the impact of last week's "particle silicon incident", Tongwei shares have fallen from the highest point of 37%. In addition, last year's 10 times bull stocks, Sunshine Power (300274) is 13 trading days, the high retracement of 40%.
Hong Kong stocks in photovoltaics are more "violent", poly GCL Energy once surged 30%, as of the close is still down more than 25%, the turnover of nearly 6 billion.
In terms of photovoltaics, the whole army was destroyed, and investors were caught off guard. The market attributes the main negative factors of the photovoltaic sector to the Notice on Matters Related to the Development and Construction of Wind Power and Photovoltaic Power Generation in 2021 (Draft for Comment) recently issued by the National Energy Administration. The Notice focuses on the resolution of consumption and subsidy arrears, and is interpreted as having an impact on the yield of new projects.
In addition, there are also analysts that the root cause of the sharp decline is too expensive, the market to the high valuation of the photovoltaic sector is extremely optimistic, may overdraft the performance growth rate of enterprises in the next few years, the past 'black swan' event continues to warn the world to remain vigilant against the constant speculation of the sector.
At present, the risk points of the sector include overheating of market sentiment, the decline of domestic subsidies, fluctuations in raw material prices, technical barriers and so on.
However, in the long run, the outlook for photovoltaics is still good, Huaan Securities (600909) research views believe that in the short and medium term, the world's mainstream countries have shown a positive attitude towards new energy, this year as the opening year of the "Fourteenth Five-Year Plan", industry demand will usher in an outbreak; in the long run, photovoltaic costs will become lower and lower, power station yields will be higher and higher, demand will increase. In the case of the current relatively low proportion of photovoltaics, there is huge room for future growth. It is expected that by 2050, the average annual growth rate of the photovoltaic industry will be about 10%, and the demand for silicon materials will increase accordingly.
The short line is completely hi demon stock 7 board space open
Contrary to the group stocks, the short-term market is relatively active, stimulated by the news of the two sessions, today's carbon neutrality, environmental protection, nuclear power, agricultural machinery and other theme plates of the two sessions continue to rise, Sinoma Energy Saving (603126) is to promote the 7 boards to open the board space.
Oversold leader Rendong Holdings (002647) came out of the 9-day 8 board. Registered new shares of Aurora Borealis (300940) two-in-a-row board. Mancaron (300945), Huaqi Environmental Protection and other registered new stocks rose and fell.
The Shenzhen Stock Exchange has issued an announcement that this week, it will continue to carry out key monitoring of "Rendong Holdings" and "*ST Zotye (000980)" that have risen abnormally for many consecutive days and "China Development Bank 2009" and "China Development Bank 2008" with abnormal one-day gains, and take regulatory measures in a timely manner.
Historically, when the group stocks fall sharply, there are often better performance opportunities in the short term. For example, in 2018, after the collapse of home appliances and consumer stocks, it came out of the 15-day 12-board big demon stocks such as dexin transportation (603032). Under the hot money-making effect at that time, the market also once circulated the slogan of "buying Dexin when things are not decided, and everything is not going well to buy Dexin", and the index in the same period is still in the process of bottoming out.
Interestingly, the "memory effect" of the market seems to be still there, the index has fallen sharply in recent days, and the group stocks have fallen sharply, while the "old demon stock" Of germany and new trading in 2018 has quietly risen by 70% from the bottom.
Market analysts believe that the continuous adjustment of high-level group votes has given the environment for the strengthening of oversold low-level stocks, forming a seesaw effect with white horse stocks. The market in the trend core stocks do not have a money-making effect, the oversold stock market value is small, the market maker and small floating capital can use the advantage of funds to create a money-making effect to attract the market, is also a model of the market. At present, the market is a bit back to the trend of 2018, the index has been adjusted all the way, and the market only has some short-term active funds playing, which may continue for a long time. Investors can focus on short-term opportunities.