The Shanghai Composite Index returned to 2,800 points, and big finance and Chinese characters broke out together
On January 24, the Associated Press of Finance reported that the market rebounded in a V-shape throughout the day, with the Shanghai Composite Index leading the rise. On the disk, financial stocks broke out collectively in the afternoon to lead the index to reverse, and many stocks such as Capital Securities, Everbright Securities, Xinli Financial, and Nanhua Futures rose to the limit. Shanghai local stocks continue to be active, with more than 20 shares such as Shanghai Phoenix, Shanghai Trade, Kaikai Industrial, Leading Shares, and Shanghai Sanmao. The first stocks in China changed intraday changes, such as China Railway Assembly, China Petroleum Capital, China Television Media, and Zhonggong Hi-Tech. In terms of decline, photovoltaic and other track stocks fell into adjustment, and quartz shares fell to the limit. Overall, more than 4,000 stocks rose in the whole market, and nearly 100 stocks rose more than 9%. The turnover of the Shanghai and Shenzhen stock markets today was 766.9 billion, an increase of 62.6 billion from the previous trading day.
Sector
The large financial sector broke out across the board, and more than 10 stocks such as Jiuding Investment, AVIC Industry and Finance, COFCO Capital, Xinli Finance, and Hongye Futures rose to the limit. At the same time, the securities sector also performed well, with Huaxin shares, Capital Securities, Everbright Securities, Guosheng Financial Holdings, Harbin Investment Shares, Hualin Securities, Cinda Securities and other stocks among the top gainers.
On the news side, Yi Huiman, Secretary of the Party Committee and Chairman of the China Securities Regulatory Commission, presided over the (expanded) meeting of the Party Committee. The meeting emphasized that it is necessary to make every effort to maintain the stable operation of the capital market, put the stable operation of the capital market in a more prominent position, vigorously improve the quality and investment value of listed companies, and build a valuation system for listed companies with Chinese characteristics.
In fact, big finance is not a sudden outbreak today, in the recent market in the large financial sector often show a local active trend, such as Xinli Finance, Jiuding Investment small market capitalization targets have also taken the lead out of the continuity. Today, with the acceleration of the inflow of funds into the direction of big finance in the afternoon, the money-making effect began to spread to the medium and large-cap brokerage stocks, such as Capital Securities and Everbright Securities, which are above the 50 billion market value of the brokerage daily limit, CITIC Securities, Oriental Wealth, China Securities Construction Investment and other heavyweight stocks rose by more than 4%, and successfully drove the index to bottom out and rebound. From the current point of view, the large financial sector and the market as a whole have formed a significant resonance, and the follow-up may still have further upward momentum. However, it should be noted that after experiencing the violent rise in today's afternoon, the short-term sentiment of large financial stocks may tend to climax, and it is expected that the differentiation of individual stocks within the sector may intensify tomorrow.
The concept of the first concept stocks in the Beijing Stock Exchange also rose across the board today, the Beijing Stock Exchange stocks in the textile standard rose by more than 28%, China Railway Assembly 20CM daily limit, COFCO Science and Industry, China Post Technology, China Machine Recognition Inspection rose more than 10%, COFCO Capital, China Oil Capital, China Television Media, China Haicheng, Zhonggong Hi-Tech and other stocks rose by the limit.
On the news side, Xie Xiaobing, head of the Property Rights Administration of the State-owned Assets Supervision and Administration Commission of the State Council, introduced that the State-owned Assets Supervision and Administration Commission of the State Council will further study the inclusion of market value management in the performance appraisal of the heads of central enterprises. The agency said that with the end of the three-year action of the reform of old state-owned enterprises and the official launch of a new round of deepening and upgrading of the reform of state-owned enterprises, the long-term investment value of central state-owned enterprises is expected to gradually increase with the continuous release of policy dividends. The State-owned Assets Supervision and Administration Commission (SASAC) adjusted the management assessment index system of central enterprises with "two profits and four rates" to "one profit and five rates", and adjusted the assessment objectives from "two increases, one control and three improvements" to "one increase, one stability and four improvements", and the importance of ROE has been improved.
In terms of individual stocks
Shanghai's local stocks also continued to be strong, among which Changjiang Investment, Kaikai Industrial, Huajian Group, Pudong Jinqiao, Zhonghua Enterprise, Shanghai Phoenix, Shanghai Wumao, and Shanghai Yilian all achieved two consecutive boards, and also extended to e-commerce, real estate and other directions to a certain extent. Logically, it is still catalyzed by the "Pudong New Area Comprehensive Reform Pilot Implementation Plan (2023-2027)" issued by the Central Committee and the State Council, and this theme is still expected to be active repeatedly in the context of the gradual recovery of short-term sentiment. However, it should be noted that there are more than 20 Shanghai local stocks today, and it is almost possible to want to advance all of them tomorrow, and it is expected that the differentiation of individual stocks within the plate will be further intensified tomorrow.
In addition, there is another concern in today's late market is that the end of Deep China A suddenly exploded. Driven by the large financial sector in the afternoon, the market as a whole showed a general rise pattern as of today's close, of which nearly 100 stocks rose by more than 9%. At a time when the index and sentiment are both picking up, it is reasonable for high-level group funds to loosen. Therefore, in this context, tomorrow's market feedback is more critical, if you go directly out of the A-word kill, it will reflect the current market environment funds prefer to switch from high to low speculation style, then you can look for a new round of speculation in the popular direction such as the Chinese word and big finance.
Market outlook analysis
At the close, the Shanghai Composite Index rose 1.8%, the Shenzhen Component Index rose 1%, and the ChiNext Index rose 0.51%. Northbound funds sold a net of 539 million yuan throughout the day, including a net purchase of 901 million yuan in Shanghai-Hong Kong Stock Connect and a net sale of 1.44 billion yuan in Shenzhen-Hong Kong Stock Connect
In the afternoon of today, the Shanghai Composite Index showed a V-shaped rebound trend, and effectively stood above the 5-day moving average, and the structure of short-term volatility and decline was reversed. From the perspective of the disk, the double force of the Chinese word head and big finance is also significant for the short-term sentiment. More than 4,000 stocks rose in the whole market, and nearly 100 stocks rose more than 9%. If the volume can be maintained tomorrow, the market may be expected to start a phased rebound in the short term. However, it should be noted that the reversal of the medium-term bearish trend often cannot be achieved overnight, and once the follow-up index faces doubts about stagflation, it is still necessary to pay attention to the possibility of stepping back on the second bottom.
On the sentiment side, today's market sentiment indicators fluctuated all the way up and returned to the active zone.
Market news focus
1. The yield of major interbank interest rate bonds has plummeted The central bank will cut the deposit reserve ratio by 0.5 percentage points on February 5
On January 24, the Associated Press of Finance reported that the yield of the main interbank interest rate bonds plummeted, with the yield of the 10-year treasury bond active bond falling by 1.35BP to 2.4900 230026, and the yield of the 10-year CDB active bond 230210 falling by 1.50BP to 2.6825. On the news side, Pan Gongsheng, governor of the People's Bank of China, said that the reserve requirement ratio will be cut by 0.5 percentage points on February 5.
2. Pan Gongsheng, Governor of the People's Bank of China: Intensify macroeconomic regulation and control and strengthen counter-cyclical and cross-cyclical adjustment
Cailian News Agency on January 24, central bank governor Pan Gongsheng said at the press conference of the State Council New Office on the 24th that the People's Bank of China and the State Administration of Foreign Exchange will implement the central decision-making and deployment in a professional and pragmatic spirit, adhere to the fundamental purpose of financial services for the real economy, increase macro-control, strengthen counter-cyclical and cross-cyclical adjustment, consolidate and enhance the good trend of economic recovery, and continue to promote high-quality economic development.
(Finance Associated Press, Fenglin)