Open: The three major indexes collectively opened high, and genetically modified concept stocks were among the top gainers

On December 27, it was reported that the three major A-share indexes collectively opened higher, and genetically modified concept stocks were among the top gainers. As of today's opening, the Shanghai Composite Index was at 2,900.15 points, up 0.04 percent, the Shenzhen Component Index was at 9,170.26 points, up 0.14 percent, and the Innovation Index was at 1,813.05 points, up 0.25 percent.

Message Side:

1. Securities firms have implemented the new regulation of "restricted shares shall not be allowed to lend securities". According to reports, the constraints between various brokerages and customers are different, some adopt amendments to contracts, and some sign letters of commitment.

2. The Shanghai Stock Exchange, Shenzhen Stock Exchange and Beijing Stock Exchange announced the closure arrangements for some holidays in 2024, and the market will be closed on Chinese New Year's Eve. The market will be closed from February 9 (Friday) to February 17 (Saturday), and will be open as usual from February 19 (Monday). According to the Financial Associated Press, the reporter learned from the regulatory authorities that the arrangement is aimed at conforming to the market's voice and being closer to the investment behavior of traders.

3. The National Development and Reform Commission and other five departments recently jointly issued the "Implementation Opinions on the In-depth Implementation of the "Eastern Data and Western Computing" Project and the Acceleration of the Construction of a National Integrated Computing Network. The opinions put forward that by the end of 2025, the comprehensive computing infrastructure system will take shape.

4. Yu Chengdong, chairman of Huawei's intelligent vehicle solution BU, announced on the 26th that it officially released the Wenjie M9, with a price of 469,800 yuan for the extended range Max version and 529,800 yuan for the extended range Ultra version, 509,800 yuan for the pure electric Max version and 569,800 yuan for the pure electric UItra version.

5. The State-owned Assets Supervision and Administration Commission of the State Council convened a meeting of the heads of central enterprises. The meeting emphasized that in 2024, the SASAC will maintain the target management system of "one profit and five rates" for central enterprises as a whole, and the specific requirements are "stable growth of one profit and continuous optimization of five rates".

6. Lei Jun recently answered questions from netizens on Xiaomi's automotive technology conference. Lei Jun said that Xiaomi SU7 is in the trial production ramp-up stage, and it will take a few months for it to be officially launched, and the pricing has not yet been finalized, but it is indeed a bit expensive.

7. The Office of the United States Trade Representative (USTR) announced on December 26 local time that it will further extend the Section 301 tariff exemption period for 352 Chinese imports that have resumed tariff exemption and 77 Chinese imports related to new crown epidemic prevention, from December 31 this year to May 31, 2024.

8. A reporter said on the 26th that on December 22, local time, US President Joe Biden signed the National Defense Authorization Act for fiscal year 2024 into law, and the case contains negative provisions related to China. In this regard, Foreign Ministry spokesperson Mao Ning said that the US side insists on passing and signing the National Defense Authorization Act for Fiscal Year 2024, which contains negative content related to China, and China expresses strong dissatisfaction and resolute opposition to this, and has lodged solemn representations with the US side.

9. According to the announcement of the Ministry of Agriculture and Rural Affairs, the first batch of genetically modified corn and soybean seed production and operation licenses were approved and issued, involving a number of seed listed companies, including Dabeinong, Longping Hi-Tech, Fengle Seeds, Denghai Seeds, etc.

10. The Exchange of Energy announced that it would take regulatory measures to restrict the opening of positions for 5 trading days and restrict withdrawals for customers who violated the rules of container shipping European line futures, and to restrict the opening of positions in the container shipping European line futures 2406 contract for 2 months for Zou × customers.

11. Transsion Holdings announced that it is expected that its net profit in 2023 will increase by about 121.15% year-on-year.

12. Estun announced that the holding subsidiary plans to increase capital and expand shares to introduce the national manufacturing fund.

13. Glacier Network announced that the net profit attributable to the parent company is expected to increase by 106%-172% year-on-year in 2023.

14. The three major U.S. stock indexes collectively closed higher on Tuesday, with the Nasdaq up 0.54% and the Dow up 0.43%, approaching the all-time closing high on December 19, and the S&P 500 rising 0.42%, approaching the all-time closing high on January 3, 2022. Most of the big tech stocks rose, with Intel rising more than 5% to its highest closing price since September 2021. Most of the popular Chinese concept stocks rose, with the Nasdaq China Golden Dragon Index up 1.24% and NIO up more than 10%.

15. International crude oil futures settled on Tuesday, with WTI February crude oil futures closing up 2.73% at $75.57 per barrel, and Brent February crude oil futures closing up 2.53% at $81.07 per barrel.

16. Retail sales in the U.S. holiday season are inferior. Preliminary data from Mastercard's SpendingPulse showed that retail sales excluding automobiles rose 3.1% year-on-year from Nov. 1 to Dec. 24, well below the 7.6% increase in the same period last year.

17. The U.S. home price index rose for nine consecutive months in October, and recorded the largest year-on-year increase in the year.

18. The U.S. Trade Representative refused to overturn the International Trade Commission's (ITC) ban on the sale of Apple's smartwatches in the United States. Apple announced that it will appeal to the court and file an urgent motion seeking to lift the sales ban while the court hears the appeal.

19. On December 26, local time, the Chief of the General Staff of the Israel Defense Forces, Hezi Al-Halewi, said that the military operation in the Gaza Strip will continue for several months, and the Israel Defense Forces will hunt down the leadership of Hamas.

20. On December 26, local time, the Foreign Affairs Committee of the Turkish Parliament approved Sweden's accession to NATO.

Institutional Perspectives:

Founder Securities pointed out that the market fell below 2900 points again, and the serious lack of market confidence led to the continued low level of volume, but when the market broke, the opportunities are still greater than the risks, although the overall systemic market is weak, but the structural market is still standing, our views remain unchanged, focusing on the new energy sector that has fallen in the early stage, and is optimistic about the overall trend of the photovoltaic industry in 2024. In terms of operation, light indexes and heavy stocks, pay attention to investment opportunities in brokerages, new energy, energy, biomedicine, semiconductors, military industry, food and beverages and bottom-rebound stocks on dips, and avoid junk stocks and theme stocks with high stock prices.

The CITIC Securities research report pointed out that since 2023, typical "growth anchor" sectors such as the Shuangchuang Board and some weighted growth stocks in previous years have achieved a decline in growth, resulting in changes in the ranking structure of market growth characteristics, and the growth ranking of the stable operation sector has been passively improved, giving birth to a dumbbell-shaped allocation model during the year. In terms of subdivided industries, the food and beverage, power and new energy industries are typical "profit anchors" and "growth anchors" declining sectors, and the current expectations for 2024 are acceptable, and it is necessary to pay attention to the cashing situation; The dividend strategy will maintain a good performance in 2024, and the market of the TMT sector in 2023 is related to longer-term growth, and it is necessary to pay attention to the changes in growth expectations in 2024 and beyond.