Li Daxiao: 3,000 points is just sea level

The A-share market hit a new low.

On December 18, the market fluctuated and fell throughout the day, and the main A-share indexes continued to fall in the afternoon, and the three major indexes all refreshed new lows.

At the close, the Shanghai Composite Index fell 0.4% to 2,930 points, approaching the year's low, the Shenzhen Component Index fell 1.13%, the lowest since the end of August 2019, and the ChiNext Index fell 1.54% to the lowest since March 2020.

Stocks in the two cities showed a trend of falling more and rising less, with 864 stocks rising and 4,396 stocks falling, of which 39 stocks were up and 39 were down.

The trading volume throughout the day was 692.6 billion yuan, and the northbound funds bought 2.727 billion yuan.

It is worth mentioning that from December 16th to 17th, the two-day 2023 Snowball Carnival was held in Guangzhou.

Li Daxiao, chief economist of Yingda Securities, made it clear in his keynote speech entitled "China's high-quality assets are ready to start their journey to thaw ice" that the most uncomfortable, pessimistic and desperate time has passed.

Li Daxiao said that the current valuation level of China's stock market around 3,000 points is attractive, and it is in a favorable position in the global stock market.

"I firmly believe that 3000 points is just sea level and that investing is a marathon with no end in sight. Li Daxiao said.

Li Daxiao, graduated from South China University of Technology in the 1980s with an engineering background, became an early investor in A-shares in the early 1990s, and is the most determined long in A-shares.

In 2010, 2011 and 2012, he successively put forward the "school flower theory", "gold bottom" and "diamond bottom". Subsequently, a number of bottom theories such as "baby bottom" and "blue chip bottom" were proposed.

Some time ago, Li Daxiao also posted a video saying that he should cherish the time below 3100 points, "Don't always think that below 3100 points, you will stay for a long time, cherish it!"

Hu Xijin, who has attracted much attention in the A-share market, was also interviewed at this snowball carnival.

Hu Xijin said, "I think I have seen an opportunity, and 3144 points is almost the bottom, so I entered the market." Later, I didn't expect it to fall again, and a total of 480,000 yuan entered the market, and now it has lost more than 40,000 yuan, a total loss of 9.01%. ”

Hu Xijin said, "Now that the stock market has reached more than 2,900 points, how much can we lose and how much can it fall? I believe that the market will be able to come back in the future." ”

Hu Xijin also said, "If the stock market falls below 2,800 points, I will definitely dare to increase my position, and gold is everywhere below 2,800 points." ”

Author | Zhang Xiaolei