The A-share film and television cinema sector performed outstandingly, and the three major U.S. stock indexes hit new highs
China Economic Weekly-Economic Net News (Reporter Zheng Yangbo Intern Wang Zhifang) The three major A-share indexes fluctuated slightly, rising briefly in the morning and then turning down.
At the close of trading on March 21, the Shanghai Composite Index fell 0.08% to 3,077.11 points, the Shenzhen Component Index fell 0.36% to 9,682.51 points, and the ChiNext Index fell 0.64% to 1,897.09 points. In the two cities, 2,245 stocks rose, 239 were flat and 2,951 declined. The net inflow of southbound funds today was 6.02 billion yuan, and the net outflow of the main force was 29.152 billion yuan.
In the industry sector, after today's opening, the film and television cinema line reached five boards, with an increase of 5% to continue to lead the industry, and yesterday's more than 1 billion main funds added to the film and television cinema sector, which is still favored today, with a net inflow of 266 million yuan, of which Huace Film and Television has risen for two consecutive days, and Jebsen shares and Zhongguang Tianxue have risen by more than 10%. The aquaculture industry still rose strongly, with an increase of more than 4 percent, and the growth rate of feed, precious metals and real estate services ranked high. The net inflow of major funds in the securities industry exceeded 1 billion yuan.
From the perspective of the demand side, the previous epidemic hit the film and television theater industry, but as the epidemic gradually subsides, the demand for watching movies will gradually recover or even surge. At the same time, with the continuous growth of the national economy and the improvement of residents' consumption level, the demand for spiritual consumption such as film and television is also increasing, providing new growth space for the film and television theater industry.
From the perspective of the supply side, the epidemic has led to the gradual withdrawal of uncompetitive small and medium-sized theaters from the market, which has created an opportunity for the concentration of the industry to increase, and leading companies will gain more market share and thus have greater profit margins. In addition, the supply of excellent works is the core of attracting audiences to the theater, and with the vigorous development of the domestic film and television industry, domestic excellent works continue to emerge, continuing to promote the development of the industry.
Xia Qingying, an analyst at Wanlian Securities, pointed out in the research report that in 2023, theaters will resume operation, policies and measures to expand domestic demand and promote consumption will continue to exert force, and films, as an important scene of offline consumption, will show a good recovery trend. The double improvement of quality has driven the box office of the market to rebound and help theaters resume operations, so it is recommended to pay attention to the core producers, producers and related head companies of film and television theaters of high-quality films.
On the concept plate, the armament group rose 4.43%, the low-altitude economy, pork, and chicken concepts continued to be at the forefront of the increase, and the iQiyi concept and the automotive aftermarket also performed well.
In terms of U.S. stocks, the U.S. Federal Reserve announced on the 20th that it would keep the target range of the federal funds rate unchanged at 5.25% to 5.5%, and maintained the expectation of three interest rate cuts this year. Affected by this, the three major U.S. stock indexes rose collectively, with the Dow up 1.03%, the Nasdaq up 1.25%, the S&P 500 up 0.89%, and popular Chinese concept stocks generally rose, Tencent Music rose 5.89%, iQiyi rose 5.32%, Vipshop, Bilibili rose 3.8%, and Pinduoduo rose 3.52%.
On the news side, in the early morning of March 19, Beijing time, the NVIDIA 2024 GTC conference kicked off at SAP Stadium in San Jose, California, USA. On the first day of the conference, NVIDIA announced the launch of a new generation of AI chips and software, designed to support AI companies in training larger and more complex models. According to reports, the conference covered 11 gaming-related presentations and 34 media-entertainment-related presentations. Among them, Chinese game manufacturers Tencent and NetEase, as well as media giants Netflix, Pixar, Disney Animation Studios, etc., will discuss the topic of AI + games.
Xiong Li, an analyst at Guosen Securities, believes that multimodal large models will drive the rapid growth of global computing power demand, and the United States will limit it
In addition, with the decline in the cost of AI large models and the development of technology, the AI application industry will make rapid progress, so it is recommended to pay attention to the leading companies in domestic AI computing power.