Dragged down by the micro-cap stocks represented by the second new, the protection action of high-quality blue-chip stocks on Monday (March 25) was unfavorable, and the major indices all closed in the green.
As of the end of the session, the Shanghai Composite Index closed at 3,026.31 points, down 21.72 points, or 0.71 percent, the Shenzhen Component Index closed at 9,422.61 points, down 142.95 points, or 1.49 percent, the Small and Medium Composite Index fell 1.95 percent, the ChiNext Composite fell 2.57 percent, and the Science and Technology Innovation 100 fell 2.75 percent. The total turnover of A-shares was 1,048.921 billion yuan, a decrease of 5% from last Friday.
Market analysts said that while insisting on avoiding the risks of micro-cap stocks, pay attention to grasping the opportunity of high-quality blue chips falling out.
【Trend】
It is difficult for the bulls to support the bears again
The major indices opened lower on the day and will soon break through the low on Friday afternoon. Immediately, many parties pulled up the high-quality blue-chip and banking real estate sectors in China, and achieved certain results, and the main stock indexes briefly turned red a few minutes before and after the noon break. From 13:11, when the new stocks and penny stocks both declined, the power of the bears expanded unprecedentedly, making the main stock indexes smash all the way until the market closed, forming an "inverted onion" pattern.
【Panel】
Micro caps led the decline, and penny stocks reappeared
Tongdaxin statistics show that the ratio of A-share stocks on the day was 733:4550, the ratio of stocks with a rise or fall of more than 10% was 36:47, and the ratio of stocks with a rise or fall of more than 5% was 68:710.
On the market, the group of micro-cap stocks represented by sub-IPOs has become the main force of short-selling. The average decline of the "near-end new stock index" listed in the last three months was as high as 4.20%, the average decline of the "secondary new stock index" listed in the last one year also reached 3.62%, and the average decline of the "two-year new stock index" listed for one to two years was 3.16%. In terms of individual stocks, Tianyuan Intelligent fell to the limit, and 12 shares, including Huafeng Technology, Longwei Shares, Huashu Hi-Tech, C Star Desheng, and Yidian Tianxia, fell by more than 10%.
In addition to the sharp dive in sub-IPOs, penny stocks also fell quite violently. Although the penny stock index fell by only 1.66%, if the real estate stock protection factor is deducted, the leading stocks are not unremarkable. Among them, *ST Meishang broke through the 1 yuan par value mark with a huge decline of 7.55%, becoming the only "penny stock" in the current A-share market, and the number of stocks with a stock price between 1-2 yuan surged to 83 again.
【Outlook】
Stay away from small-cap stocks and select big blue chips
How do industry insiders see the next market?
"It is necessary to grasp the opportunity of low-cost absorption brought by high-quality blue-chip stocks dragged down by theme stocks. Tang Hewen, general manager of Jiangnan Avenue of Galaxy Securities, interviewed by upstream news reporters, said that on Monday, the four major composite indices of Shanghai and Shenzhen closed with a barefoot yin line and approached the low point of March 14-15. Although there are multiple supports for the penny stock index and the micro-cap stock index, from the long-term trend of the sub-IPO index, the "7-year itch" chose to gap down, indicating that the value of shell resource varieties such as small-cap stocks and small-cap stocks is still a long way to go. Therefore, it is important to stay away from high-valuation micro-cap stocks that are not substantially competitive and not backed by performance. However, the drastic release of the risk of theme stocks will drag down the performance of high-quality blue chips to a certain extent, but it will give short funds the opportunity to lay out big blue chips on dips. When more and more funds are hoarded in the high-quality blue-chip and banking sectors represented by the Chinese prefix, it is natural that the high-light era of low-valuation varieties will be in order.
(The views in the article are for reference only and do not constitute investment advice, the stock market is risky, and you should be cautious when entering the market)
Upstream news reporter Wang Ye