The GEM index fell another 3%, 5,000 stocks in the whole market were green, and northbound funds sold more than 13 billion in a single day
On January 17, the Financial Associated Press reported that the market opened low throughout the day, with the three major indexes all falling by more than 2%, the Shanghai Composite Index hitting a new low since June 2020, and the ChiNext Index hitting a new low since December 2019. On the disk, the concept stocks of exports and high export sales are active against the trend, and the leading shares, Guangbo shares, Golden Kirin, Aojiahua and other daily limits. Diversified financial concept stocks opened stronger, with Huajin Capital, Jiuding Investment, and Xinli Financial rising to the limit. In terms of decline, new energy stocks such as photovoltaics fell into adjustment, Jinyuan shares fell to the limit, retail and other consumer stocks fluctuated lower, and Maoye Commercial fell to the limit. Overall, stocks fell more and rose less, and more than 5,000 stocks in the whole market fell. The turnover of the Shanghai and Shenzhen stock markets today was 637.6 billion, a decrease of 47.2 billion from the previous trading day.
Sector
On the plate, the export and high export proportion of the sector is active against the trend, of which the leading shares are 2 boards, Jiayi shares rose by more than 10%, Guangbo shares, Qisheng Technology, Jin Kirin, Aojiahua, Huasheng shares and other stocks have a daily limit. On the news side, the party group of the National Development and Reform Commission wrote an article pointing out that it is necessary to pay close attention to the implementation and do a good job in this year's economic work. Expand high-level opening up. Promote the stable scale and optimal structure of foreign trade, and expand intermediate goods trade, service trade, digital trade, and cross-border e-commerce exports.
According to the data released by the General Administration of Customs on January 12, in US dollar terms, the total import and export volume of the mainland in December 2023 was 531.90 billion US dollars, a year-on-year increase of 1.4%, of which exports were 303.62 billion US dollars, an increase of 2.3% year-on-year, an increase of 1.8 percentage points from the previous month, imports were 228.28 billion US dollars, the growth rate turned from negative to positive, and the trade surplus was 75.34 billion US dollars, and the surplus continued to increase. Imports and exports as a whole continued to improve.
From the perspective of individual stocks, the logic of going to sea can be described as a dark line in the previous market, like Jiayi shares catalyzed by the overseas explosion of Stanley Quencher thermos cup, which has risen by more than 50% in the past 5 trading days, and has become a high-standard leader in the concept of overseas sales. And today's leading shares that have risen again have also come out of the second wave of the market, and stocks such as Yutong Bus and Biyi shares have also walked out of the rare trend in the recent disk. Especially in the current weak market environment, the logic of going overseas is being recognized by more and more funds, and the follow-up is still looking for some opportunities to make up for the gap in expectations in the concept of high export proportion.
Diversified finance once continued the rally yesterday afternoon, Huajin Capital and Xinli Financial both succeeded in connecting boards, and Jiuding Investment rose to the limit. Huatai Securities said in a recent research report that China's consumer finance industry has entered a new stage of stable and compliant development after rapid development, continuous growth in scale, continuous enrichment of business entities, more and more diversified product types, gradual increase in online rate, and gradual improvement of the regulatory system.
Among them, Internet financial platforms usually carry out business with the help of consumer finance and micro-loan licenses, and have formed a business paradigm combining light/heavy asset models, showing different characteristics from the traditional financial industry and gaining a firm foothold in the field of consumer finance. The leading Internet financial platforms have shown strong advantages in customer acquisition, pricing and risk control, and their growth momentum is faster than that of traditional financial institutions. However, it can be seen from today's market that the diversified financial sector as a whole is also showing a trend of shock and decline, and funds are more inclined to the core targets in the front row of group speculation.
In terms of individual stocks
At the individual stock level, the recent photovoltaic concept stocks have been relatively contrarian today, among which Oujing Technology, which has been trending before, fell more than 6% today, and there are doubts about breaking the position, and the short-term popularity is high, Qingyuan shares and Lvkang Biochemical showed a twists and turns, once both fell to the limit, and at about 2 o'clock in the afternoon to get part of the funds back and quickly rose red, but due to the lack of follow-up buying and fell again, and finally fell more than 5%. Therefore, the above two high standards may be regarded as the emotional anchor of tomorrow's photovoltaic sector, if it can be repaired with funds again, then there may still be a certain number of repeated opportunities for the photovoltaic sector, on the contrary, once it goes A, it may once again drag down the photovoltaic and even the entire new energy direction to weaken.
In addition, with the decline of the index, the effect of market plates has gradually decreased, and funds have once again begun to hold together as individual stocks. For example, in the context of the collective plunge in the tourism and hotel sector, the end of Changbai Mountain once again won the daily limit, recording 9 boards in 12 days. The photovoltaic sector collectively declined, but organic silicon concept stocks such as Hongda New Materials, Xinli Finance, and Hongbai New Materials still successfully connected the board. In addition, Shenzhen China A has also expanded the market's board height to 7 boards, so driven by the huddle effect, the core target in the front row is still expected to be active against the trend, but the certainty is low, and once the funds are loosened, they may face the risk of making up for the decline at any time.
Market outlook analysis
At the close, the Shanghai Composite Index fell 2.09%, the Shenzhen Component Index fell 2.58%, and the ChiNext Index fell 3%. Northbound funds sold a net of 13.057 billion yuan throughout the day, including 6.372 billion yuan in Shanghai-Hong Kong Stock Connect and 6.684 billion yuan in Shenzhen-Hong Kong Stock Connect.
Today, the three major indexes showed a unilateral decline, and finally closed with a bald head and bare feet, and hit a new low. On the whole, the current medium-term structure of market volatility and decline is still continuing, and the trend of easy to fall and difficult to rise in a short period of time may still be unable to reverse. However, from a short-term perspective, as the index accelerates lower at the end of the session, or the market panic is further cleared, the short-term index may have relatively limited downside space after the short-term risk is fully released. Therefore, don't be too pessimistic about the market outlook, keep enough patience, and wait for the index to show a clear signal to stop falling and stabilize, and then look for some short-term repair opportunities.
From the perspective of sentiment indicators, affected by the short-term high-standard huddle effect, today's short-term sentiment indicators did not touch the freezing point and fluctuated below the downturn zone.
Market news focus
1. The five departments jointly carried out the pilot work of the application of "vehicle-road-cloud integration" of intelligent networked vehicles
On January 17, the Ministry of Industry and Information Technology, the Ministry of Public Security, the Ministry of Natural Resources, the Ministry of Housing and Urban-Rural Development, and the Ministry of Transport issued a notice on carrying out the pilot work of the application of "vehicle-road-cloud integration" for intelligent networked vehicles, with a pilot period of 2024-2026. Adhering to the principle of "government guidance, market driven, overall planning, and orderly construction", a number of city-level application pilot projects with the same architecture, unified standards, business interoperability, safety and reliability have been built, and the construction of intelligent roadside infrastructure and cloud control infrastructure platforms has been promoted, the assembly rate of vehicle terminals has been improved, and the "vehicle-road-cloud integration" of intelligent networked vehicles has been carried out The system architecture design and application of a variety of scenarios form a unified vehicle-road coordination technical standard and test and evaluation system, improve the ability to ensure road traffic safety, promote large-scale demonstration applications and the exploration of new business models, and vigorously promote the industrialization of intelligent networked vehicles.
2. Northbound funds sold 13.057 billion yuan unilaterally throughout the day, and the single-day net selling volume hit a new high since October 2022
On January 17, the Financial Associated Press reported that northbound funds sold 13.057 billion yuan unilaterally throughout the day, a new high since October 2022, of which 6.372 billion yuan were sold through Shanghai-Hong Kong Stock Connect and 6.684 billion yuan were sold through Shenzhen-Hong Kong Stock Connect.
(Finance Associated Press, Fenglin)