The Shanghai Composite Index barely recovered 2,700 points, and the GEM came out of a V-shaped rebound
On February 5, the three major A-share indices were mixed today. As of the close, the Shanghai Composite Index fell 1.02%, the Shenzhen Component Index fell 1.13%, the ChiNext Index rose 0.79%, the Beijing Stock Exchange 50 Index fell 3.83%, and the turnover of the Shanghai and Shenzhen markets was 877.4 billion yuan. More than 4,800 stocks in the two cities fell, more than 1,300 stocks fell to the limit, and northbound funds bought a net of 1.211 billion yuan.
On February 5, the three major indexes fell after the open, the Shanghai Composite Index fell to 2,700 points again, and the Shenzhen Component Index fell more than 2%. Near midday, the index bottomed out and rebounded. On the disk, banks, super brands and other weighted sectors are more active, and brokerage stocks are rising again.
As of midday, the Shanghai Composite Index fell 1.82%, the Shenzhen Component Index fell 2.28%, the ChiNext Index fell 1.7%, the Beijing Stock Exchange 50 Index fell 5.13%, and the half-day turnover of the Shanghai and Shenzhen markets was 552.2 billion yuan. More than 5,100 stocks in the two cities fell, more than 2,700 shares fell more than 9%, and northbound funds sold a net of 729 million yuan in half a day.
In the afternoon, the heavyweight stocks strengthened sharply, and the three major indexes turned red across the board. CATL, CNOOC, China CITIC Bank, Everbright Securities, Hengrui Pharmaceutical, Mindray Medical, Industrial Fortune Union and other heavyweight stocks rose sharply intraday. Towards the end of the session, the three major A-share stock indexes retreated. The full-day turnover of the Shanghai and Shenzhen stock exchanges was 877.4 billion yuan, an increase of 71.7 billion yuan from the previous trading day.
On the theme of the plate, the concept plate of the two cities is a straight flush beautiful 100, the banking sector is red, the heavy stocks of high dividends and gems are pulled up in the afternoon, and the data elements, spatial computing, new urbanization and other sectors fell sharply throughout the day.
Image from Straight Flush.
Image from Straight Flush.
On the news side, the central bank carried out a 14-day reverse repurchase operation of 100 billion yuan today, and the winning interest rate was 1.95%, the same as before. Flush iFinD data shows that 500 billion yuan of 7-day reverse repurchase expires today. On February 5, the People's Bank of China (PBoC) lowered the reserve requirement ratio of financial institutions by 0.5 percentage points, releasing about 1 trillion yuan of long-term funds. After the reduction, the weighted average reserve requirement ratio of financial institutions is about 7.0%. It has been learned that the deposit reserve ratio of financial institutions has dropped by 0.5 percentage points this time, which is a relatively large margin in recent years. In 2022 and 2023, the PBOC will use the RRR cut tool twice, both by 0.25 percentage points each time and by 0.5 percentage points for the whole year.
It is worth mentioning that on February 4, Yi Huiman, Secretary of the Party Committee and Chairman of the China Securities Regulatory Commission, presided over a meeting of the Party Committee to convey, study and implement the spirit of the relevant meetings of the State Council, and deploy the work of maintaining the stability of the capital market.
The meeting proposed that it is necessary to accelerate the investigation and visit of listed companies, effectively solve specific difficulties and problems, and increase the support of high-quality listed companies. Strictly control the entry of listed companies, increase delisting, and vigorously improve the quality of listed companies. It is necessary to thoroughly investigate clues on violations of laws and regulations, and severely crack down on major illegal acts such as market manipulation, malicious short-selling, insider trading, and fraudulent issuance in accordance with the law. It is necessary to encourage and support all kinds of investment institutions to increase counter-cyclical layout and guide more medium and long-term funds to enter the market. It is necessary to listen carefully to the voices of the majority of investors, respond to investors' concerns in a timely manner, and protect the legitimate rights and interests of investors. The meeting stressed that it is necessary to actively cooperate with relevant parties to make greater efforts to coordinate the implementation of various measures to stabilize the market, stabilize expectations and confidence, and resolutely prevent abnormal market fluctuations.
Recently, the China Securities Regulatory Commission has frequently spoken out on the implementation of the spirit of the relevant meetings of the State Council and the promotion of the stability of the capital market. In this regard, Tian Xuan, deputy dean of PBC School of Finance of Tsinghua University, said in an interview with the media: "The relevant measures recently introduced by the China Securities Regulatory Commission highlight the concept of investor-oriented, reflect the 'political' and 'people' nature of the capital market, and conform to the essence of the capital market. Vigorously promote the reform of the investment side, promote the improvement of the investability of listed companies, and increase the crackdown on financial fraud and other institutional design, which will form a strong 'investor-oriented' synergy and make every effort to maintain the smooth operation and normal function of the market." ”
Source: Straight Flush, China Securities Journal, Sina Finance
Written by: Shi Li