For the first time in history, the monthly line has been cloudy for six consecutive years, and the black January has finally passed!

At the close of trading today, the Shanghai Composite Index was at 2,788.55 points, down 1.48 percent, the Shenzhen Component Index was at 8,212.84 points, down 1.95 percent, and the ChiNext Index was at 1,573.37 points, down 0.66 percent. The turnover of the two cities was 758.3 billion yuan, an increase of 94.6 billion yuan from the previous trading day, and more than 4,800 stocks fell. Today, the net inflow of northbound funds was 5.132 billion yuan and the net purchase was 3.701 billion yuan, of which the Shanghai-Hong Kong Stock Connect had a net inflow of 1.502 billion yuan and a net purchase of 758 million yuan, and the Shenzhen-Hong Kong Stock Connect had a net inflow of 3.630 billion yuan and a net purchase of 2.943 billion yuan. The net outflow of main funds in Shanghai and Shenzhen was 32.391 billion yuan, the net outflow of large orders was 14.017 billion yuan, the net outflow of large orders was 18.374 billion yuan, the net inflow of medium orders was 3.511 billion yuan, and the net inflow of small orders was 28.880 billion yuan.

The black January finally passed, the Shanghai Composite Index fell 6.27%, the Shenzhen Component Index fell 13.77%, and the ChiNext Index fell 16.81%, the three major indexes fell for half a year, and the Shanghai Composite Index came out of the first monthly line in history for six consecutive years.

Today's closely watched January PMI data was officially released, the manufacturing PMI in January 2024 was 49.2, in line with expectations, although it rose by 0.2 percentage points month-on-month, ending the downward trend for three consecutive months, but it is still in the contraction range below the 50th percentile, reflecting that the economic recovery is still slow and difficult to stimulate market confidence.

In the index volatility, investors risk appetite continued to decline in the background, the performance of the past two days declined, performance growth is less than expected of the company stock price fell sharply, on the disk, today in Shanghai and Shenzhen fell more than 5% of the company more than 2,600, down more than 10% of the company reached 114, the fragile market confidence greatly amplified performance concerns, triggering a pre-holiday sell-off.

The GEM continued to decline today, but there were many intraday reds, and the decline in the past three trading days has become smaller and smaller, showing some signs of stabilization. On the news side, the GEM weighted CATL performance forecast shows that the net profit attributable to the parent company in 2023 will be 42.5 billion to 45.5 billion yuan, a year-on-year increase of 38.31% to 48.07%. Today, CATL opened higher and closed up 7.70%.

The three major indexes have walked out of the pattern of continuous gaps and three negative lines in the past three days, and the gem has also shown signs of accelerating to catch up with the bottom after hitting a new low, and the Shenzhen Stock Connect has continued to flow out for many days, and today's funds have turned around, and Harvest, China and other CSI 300 ETFs have increased at the end of today.

For the subsequent stabilization of the index, the possible conditions can be paid attention to: first, the GEM should be stabilized; in addition, the disk protection funds should be maintained through whether it is the CSI 300 ETF or the Shanghai Stock Connect, and at the same time, the sentiment will be driven by the brokerage; after the thunderstorm period of performance concentration, there must be a theme that can resonate with the index and bring about the money-making effect of the new main line.

In terms of sectors, the cultural media sector, the concept stocks of Chinese characters or oysters.

The media sector bucked the trend and strengthened, Liujin Technology rose by more than 10%, and Zhongguang Tianxue, Inner Mongolia Xinhua, Times Publishing, Shandong Publishing, China Television Media, and Xinhua Media rose to the limit.

The performance of the first sector in China resisted the decline, COFCO Capital, China Construction Environmental Energy, Sinoma Energy Conservation, and China Television Media.

In terms of declines, energy metals, Internet services, tourism and hotels, military industry, and retail sectors, as well as digital sentinels and Huawei's Ascend concept were among the top decliners.

The energy metal sector fell, Rongjie shares and Shengxin Lithium Energy fell more than 8%, Ganfeng Lithium, Tibet Mining, Tianqi Lithium fell more than 7%, and Tianhua New Energy fell more than 6%.

The Internet service sector and the concept of digital sentinel fell in the afternoon, Haitian Ruisheng fell more than 15%, Kunlun Wanwei fell more than 12%, Tongniu Information, Hotwon Technology, Wanda Information fell more than 11%, Xiongdi Technology, Hand Information fell more than 10%, Tianyu Digital, Huasheng Tiancheng, Jinqiao Information, and Chengdi Xiangjiang fell to the limit.

Junting Hotel in the tourism hotel sector fell by more than 11%, Changbai Mountain fell by the limit, Zhangjiajie and Huatian Hotel fell by more than 9%, and many stocks such as Yunnan Tourism and Qujiang Cultural Tourism fell by more than 8%.

The military sector is sluggish, Hengyu Information Communication 20CM fell to the limit, Aerospace Development, Sichuang Electronics, Ganhua Science and Industry, Xingwang Yuda, Aerospace Rainbow, and Leike Defense fell to the limit.

Retail stocks fell, and Friendship Group, Renrenle, Shenzhen SEG, and Central Shopping Mall fell to the limit.

Huawei's Ascend concept stocks generally fell, Kelan Software fell more than 12%, Changshan Beiming and Sichuan University Zhisheng fell to the limit, Dongfang Guoxin and Creative Information fell more than 9%, Pinming Technology fell more than 8%, and Duolun Technology and Advanced Data Communication fell more than 7%.

In terms of today's important news:

1. According to the data of the National Bureau of Statistics, in January, the manufacturing purchasing managers' index (PMI) was 49.2%, an increase of 0.2 percentage points from the previous month, and the level of manufacturing prosperity rebounded. The non-manufacturing business activity index was 50.7%, up 0.3 percentage points from the previous month, rising slightly for two consecutive months, indicating that the non-manufacturing industry continued its stable recovery trend since the fourth quarter of last year.

2. Xiaomi Auto's first car SU7 will officially enter the SOP (Start of Production) stage in mid-to-late February and start mass production. It is reported that the production in March, the first month after the SOP, is planned to be about 2,000 vehicles, and it is expected to complete the production capacity ramp-up in mid-2024, and the output in July can reach more than 10,000 vehicles.

3. Pien Tze Huang announced that during the beginning of 2024, the product sales momentum of Zhangzhou Pien Tze Huang Pharmaceutical Co., Ltd. is improving, the market is showing a strong sales trend, and it has successfully achieved a "good start". According to the company's preliminary accounting, it is expected that in the first quarter of 2024, the company will achieve a year-on-year increase in net profit attributable to shareholders of listed companies of no less than 25%.

4. On January 31, it was reported that a JD employee issued a notice in a work group called "JD Live Anchor Recruitment Promotion", saying that JD is urgently formulating an anchor recruitment plan, and does not assess GMV and gross profit for recruiting anchors.

5. On January 31, it was learned from the Sichuan Provincial Economic Cooperation Bureau that in 2023, Sichuan's foreign direct investment (FDI) will reach 24.52 billion yuan, a year-on-year increase of 6.5%, 14.5 percentage points higher than the national level, ranking first in the central and western regions; 908 foreign-invested enterprises (institutions) were newly established in Sichuan Province last year, a year-on-year increase of 20.3%; contracted foreign investment will reach 61.66 billion yuan, a year-on-year increase of 118.7%, reversing the 2021- During 2022, it has been declining for 18 consecutive months.

6. On January 31, it was reported that the latest "China Auto Dealer Inventory Warning Index Survey" released by the China Automobile Dealers Association showed that the inventory warning index of China's auto dealers in January 2024 was 59.9%, down 1.9 percentage points year-on-year and up 6.8 percentage points month-on-month. The inventory warning index is above the boom and wither line, and the automobile circulation industry is in a recession range, and the prosperity has fallen from the previous month.

7. On January 31, it was reported that the Shanghai headquarters of the People's Bank of China held the 2024 Monetary and Credit Work Conference. The meeting made specific arrangements for Shanghai's monetary and credit work in 2024. Do a good job in real estate finance. Implement differentiated housing credit policies to meet the reasonable financing needs of various real estate enterprises. Implement the "16 Financial Measures" and various policies such as financial support for the construction of affordable housing, the construction of public infrastructure for both ordinary and emergency purposes, and the transformation of urban villages. Continue to unleash the effectiveness of the reform of the loan prime rate (LPR). Enhance the guidance of the LPR on the real lending rate, and promote the steady and moderate reduction of the financing cost of the real economy. We should give full play to the important role of the market-oriented adjustment mechanism of deposit interest rates, stabilize the cost of liabilities and net interest margins of banks, enhance the capacity and sustainability of financial support for the real economy, and boost consumption and investment willingness.

8. On January 31, the National Development and Reform Commission: From 24 o'clock on January 31, 2024, domestic gasoline and diesel prices will increase by 200 yuan per ton.

9. On January 31, spot gold broke through $2,040 per ounce, up 0.16% during the day.