A-shares have risen sharply, Hong Kong stocks have exploded, and the national team has bought more than 410 billion yuan? Foreign investors are also optimistic about A-shares
A-shares only pulled back for one day after breaking through 3,000 points in the eighth consecutive yang, and they couldn't wait to regain 3,000 points and hit a new high.
After the A-share market crash in January, the snowball and quantitative products were almost all blown up, and the financing balance alone decreased by 200 billion in January. Then the bottom was bought by the national team and foreign capital, according to UBS calculations, the national team net purchase of A-shares exceeded 410 billion, the national team is locked up, foreign capital is still accelerating the inflow, the people on the sidelines are now dominated by the mood of the short, see the callback will be in a hurry to get on the car, the second attack after the callback will strengthen the consensus of this short position. Contrary to the fact that the fall in January was the reason for the fall, the rise is now the reason for the rise.
A simple analysis of the current chip structure, and then look at today's blockbuster benefits, let's talk about domestic computing power first, which is the main line that drives today's A-share counteroffensive.
Yesterday, we reminded in the evaluation that in addition to industrial machine tools, Huawei's Ascend, Chinese Academy of Sciences and other domestic computing power are also very strong, mainly for two reasons: Nvidia identified Huawei's calculations as the "biggest competitor", and Huawei's Ascend server orders have exploded, and the supply exceeds demand, and the price has begun to rise.
Today, there are several blockbuster news from domestic computing power, and I will give you a brief list:
Based on cost-effective and supply chain security considerations, domestic customers expect more demand to invest in domestic AI chips in the future. Alibaba and Tencent have told Nvidia that the number of chips they ordered this year will be much lower than originally planned, and that some orders for advanced semiconductors are being transferred to local companies such as Huawei, according to the Observer.
Stimulated by the news, Sugon pulled the price limit in a straight line, and drove CPO, servers, liquid cooling and other AI computing power-related sectors.
Ten countries, including the United States and the United Kingdom, issued a joint statement in support of the 6G principle. The governments of the United States, Australia, Canada, the Czech Republic, Finland, France, Japan, South Korea, Sweden and the United Kingdom are participating in the joint statement. 6G competition began, and 6G-related sectors rose sharply.
ZTE launched the AiCube training and pushing all-in-one machine at MWC24 Barcelona, which integrates computing, storage, network equipment and AI platform software, supports mainstream AI frameworks, and aims to provide operators and industry users with an Ai-In-One one-stop intelligent computing solution.
State-owned Assets Supervision and Administration Commission: Accelerate the empowerment of new technologies such as artificial intelligence to create a number of competitive platforms and enterprises.
In addition to the benefits of AI and communication, there are also some important benefits:
Last week was the first trading week for A-shares in the Year of the Dragon, and there were no new listings. This week is the second trading week of the Year of the Dragon, and it is expected that there will be neither new share subscriptions nor new share listings, which is the first time that there have been no new shares listed or subscribed for new shares in the entire trading week since August 27, 2023, when the China Securities Regulatory Commission proposed a "phased tightening of the IPO rhythm". Although the IPO is only rumored, in essence, the IPO is almost frozen.
In response to the requirements of the regulatory authorities, securities firms actively responded to illegal securities lending transactions. According to a person from the brokerage and financial business, T+0 in disguised securities lending refers to the simultaneous trading of a certain stock in the investor's credit account on the same day, and prohibiting this practice can better reflect fairness. In addition, investors are also prohibited from cashing out or bypassing the bid, and a brokerage has issued a relevant notice in January this year. Recently, the scale of securities lending in the market has declined significantly.
After reading today's positive news, and then looking at the disk, as of the close, the Shanghai Composite Index rose 1.29%, recovering 3,000 points, and the ChiNext Index rose 2.41%. Hong Kong stocks continued to strengthen after the close of A-shares, with the Hang Seng Index rising 0.94% and the Hang Seng Tech Index rising 3.24%. The turnover of the two cities was enlarged to 0.99 trillion, and more than 5,000 stocks in the two cities rose.
In terms of industries, computer, communications, electronics, media, automobiles and other industries led the gains.
We have been emphasizing that whether A-shares can move from a rebound to a reversal depends on incremental funds, and we believe that incremental funds mainly come from insurance funds, foreign capital and financing to increase positions.
Let's talk about foreign capital first, since late January, foreign capital began to continue to buy A-shares, at that time there were national team vest funds, but after the holiday, the vest funds were basically gone, and the purchases were long-term allocation of foreign capital, indicating that foreign capital has turned. In the minds of most foreign institutions, geopolitics, Sino-US relations or policies are just an excuse for bearishness, and if China's stock market can form a sustained money-making effect, then a considerable amount of foreign capital will come back.
Looking at financing again, the financing liquidation in January reduced 200 billion funds, and then since February 8, financing has continued to increase by nearly 50 billion, and even if it returns to the high point in January, there is still more than 100 billion space.
Finally, private placement, according to the calculation of Cinda Securities, in the sharp fall in January, private equity quickly reduced its position to a new low since 2014, and private equity also has a lot of room to increase its position.
On the whole, there is still a lot of room for incremental funding. Yesterday, we reminded in the closing comment that the rebound of A-shares is almost complete, and if we want to further turn from a rebound to a reversal, either the economic policy exceeds expectations, or the industrial policy exceeds expectations, the former corresponds to the recovery line and pro-cyclical, and the latter corresponds to growth-themed stocks. Today's rise is the AI of industrial policy, if the economic stimulus policy of the two sessions exceeds expectations, the heavyweight stocks will also rise, and then it will be the rhythm of the bull market. Of course, if the policy does not exceed expectations, it is necessary to pay attention to the fulfillment before the blockbuster meeting.
Risk Warning:
The stock market is risky, investment needs to be cautious, this article does not constitute investment advice, readers need to think independently