On Monday (April 8), the Shanghai and Shenzhen stock markets set a record for the largest decline on the first trading day after the Qingming Festival. As of the end of the session, the Shanghai Composite Index closed at 3,047.05 points, down 22.25 points, or 0.72%, the Shenzhen Component Index closed at 9,394.61 points, down 150.16 points, or 1.57%, the Small and Medium Composite Index fell 1.52%, the ChiNext Composite fell 2.41%, and the STAR 50 fell 2.13%. The total turnover of A-shares was 935.811 billion yuan, an increase of 1.44% over last Wednesday.
Market analysts said that the risk of small-capitalization stocks has entered a stage of sharp release, and investors should pay attention to grasp the opportunity after the big blue chips make up for the decline.
【Trend】
The Science and Technology Innovation Board and the Growth Enterprise Market have once again joined forces for a big dive
Monday's low opening of the main stock indexes was followed by a wave of rapid diving, and then the main board and the board diverged - the main board market from 9:39 to 11:12 led by many low-valued large-capitalization blue chips, while the science and technology innovation board and the gem were sluggish. From 11:12, with the emergence of large-scale selling pressure on small-capitalization stocks and small-cap stocks, the Shuangchuang Board dived unilaterally all the way, and caused many blue-chip chips on the main board to turn from red to green. In the end, all the major large-cap indices recorded the largest decline on the first trading day after the Qingming Festival in history.
【Panel】
Poor performance varieties led the decline
Tongdaxin statistics show that the ratio of A-share stocks on the day was 797:4518, the proportion of stocks with a rise or fall of more than 10% was 56:33, and the ratio of stocks with a rise or fall of more than 5% was 86:792.
On the disk, the small-capitalization and small-cap varieties represented by micro-cap stocks and penny stocks have changed from a sharp lead in the early stage to a distant leader. The micro-cap index plunged 4.31 per cent, while the penny index plunged 2.41 per cent. Judging from the list of decliners, the recent speculation stocks, poor performance stocks, and thunder stocks are the hardest hit areas. Among them, Ruichuang Micro-Nano fell by 20%, and Jiuliang shares, adoption shares, Yangfan New Materials and some Shuangchuang board stocks that had risen too much in the early stage fell by more than 10%. In addition, the ST sector began to fall in a large area, ST has a tree, *ST Meishang fell by more than 10%, and as many as 24 ST stocks fell to the limit. Not only that, the number of stocks with a face value of less than 1 yuan has increased to 5, and there are as many as 87 stocks with a stock price of 1-2 yuan.
【Outlook】
Seize the opportunity of high-quality blue chips to make up for losses and buy low
"High-quality blue chips have the potential to make up for the decline, and it is a good time for investors to buy low. Li Chun, chief investment consultant of Jiangnan Avenue of Galaxy Securities, interviewed by upstream news reporters, said that on Monday, the three major indexes of the Shenzhen market - the small and medium-sized composite index, the ChiNext composite index, and the Shenzhen Composite Index made up for the gap on April 1, indicating that the Shanghai Composite Index will also make up for the 3041-point gap next. However, from the perspective of market shorting momentum, the short-term risk release has not yet been in place, especially the "pseudo-double-headed" pattern constructed by the "micro-cap stock index" and the "penny stock index" (no measurement of the decline), and the large-scale decline has just begun, so there is a possibility of further bottoming after a short reversal. It is worth noting that the 60-minute MA250 of the Shanghai Composite Index has not stepped back, and it is worth paying more attention to whether it will become the target of the bears. Finally, it is not excluded that cyclical high-quality blue chips may make up for the decline due to the sharp decline in small-cap stocks, but it may be an opportunity for investors to take advantage of the dip.
(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