The varieties of the national team fell back to "go north" to buy, and the last period of the annual report was undertaken by the market in a low-key manner
Today's news:
[The U.S. stock Nasdaq closed down more than 2% to hit a new low since February, and Nvidia fell 10%] The three major U.S. stock indexes closed on Friday night, with the Dow up 0.56%, up 0.01% for the week, the Nasdaq down 2.05%, down 5.52% for the week, the worst weekly performance since November 2022, and the S&P 500 fell 0.88%, falling for the sixth consecutive day, down 3.05% for the week. Popular technology stocks fell, Nvidia fell 10%, with a market value of less than $2 trillion, Netflix fell more than 9%, Meta and Broadcom fell more than 4%, Amazon and Intel fell more than 2%, and Tesla's stock price hit a new low since January 2023. Semiconductors, blockchain, and computer hardware were among the top decliners, while insurance, utilities, and banking stocks rose.
The black swan raided the "Seven Sisters of U.S. Stocks" (Microsoft, Apple, Google, Nvidia, Amazon, Meta, and Tesla), with a total market value of more than 960 billion US dollars (about 6.9 trillion yuan) evaporated in a single week, the worst week in history. The fuse of this crash was that the AI bull stock Supermicro Computer suddenly released a major negative signal, which triggered market worries and frantically sold funds. After the worst week on record, U.S. technology stocks are about to face a major test of earnings season
On April 21, according to Xinhua News Agency, Intel Corporation of the United States recently released a large-scale neuromorphic system called Hala Point, which aims to support cutting-edge research in the field of brain-inspired artificial intelligence and solve the challenges of artificial intelligence in terms of efficiency and sustainability. Intel revealed that the Hala Point system will be delivered to Sandia National Labs, marking the first deployment of a large neuromorphic research system shared by Intel. This latest development has also aroused great concern in the global scientific community, because brain-inspired AI is regarded as the "crown jewel" of scientific research.
As of April 19, the financing balance of the Shanghai Stock Exchange was 787.931 billion yuan, a decrease of 2.116 billion yuan from the previous trading day, the financing balance of the Shenzhen Stock Exchange was 699.249 billion yuan, a decrease of 2.42 billion yuan from the previous trading day, and the total financing balance of the two cities was 1.48718 billion yuan, a decrease of 4.536 billion yuan from the previous trading day.
[April LPR quotation released: 1-year and 5-year interest rates remain unchanged] In April, the loan market prime rate (LPR) quotation was released, with the 1-year LPR at 3.45%, compared with 3.45% last month, and the LPR with a maturity of more than 5 years at 3.95%, compared with 3.95% last month.
[Net inflow of northbound funds of 600 million yuan] As of the close of noon, the net inflow of northbound funds was 602 million.
This morning, the market opened 6 points lower at 3059 points, rushed up 3078 points, bottomed out at 3047 points, and closed at 3050 points before noon. The Listing Warrant 1000 of the Science and Technology Innovation Board rose 0.42% and 0.01%, the SSE 50, CSI 300, the Composite Index fell, the Shenzhen Component Index, the ChiNext and the CSI 500 fell 0.16%, 0.22%, 0.47%, 0.17%, 0.19% and 0.50%. The ratio of individual stocks is 2119:3091, and the ratio of price limit is 63:34. The half-day turnover of the two cities was 557.1 billion, a decrease of 15.4 billion from the previous trading day.
There was three pieces of news over the weekend: First, the China Securities Regulatory Commission (CSRC) introduced 16 measures to support high-tech industries; second, the reduction of fund commissions and the reduction of the upper limit of commissions allocated by fund managers are conducive to the interests of the people; and third, five measures for cooperation with Hong Kong, including the listing of leading mainland enterprises in Hong Kong and the relaxation of the approval conditions for ETF products, are conducive to reducing the pressure on the expansion of large-cap stocks in the A-share market and are conducive to Hong Kong funds participating in A-share ETFs.
These are all good news, but there are only 7 trading days left before the annual report is released, and it is estimated that there will be more poor performance or loss statements announced. It will form greater pressure on poor performance stocks and high-speculating demon stocks, and the number of falling stocks will increase day by day, thus impacting the market. In the meantime, A-shares can only be undertaken in a low-key manner.
After the opening of the morning session, the four major ETFs of the national team collectively went up, and the CSI 50 ETF also went up. The four major bank stocks of Workers, Peasants and China Construction rose sharply to 5.64 yuan, 4.62 yuan, 4.78 yuan and 7.54 yuan. At this time, the dividend rate of industry and construction was reduced to 5.5%, and the dividend rate of agriculture and middle school was reduced to 4.9%, plus 20% income tax, which required a 20% discount. As a result, the four major bank stocks collectively dived, and the four major ETFs also dived, and the market fell from 3078 points to 3047 points. Investors can calculate the dividend rate of the four major bank stocks according to the dividends of Gongnong China Construction of 0.306 yuan, 0.23 yuan, 0.236 yuan, and 0.4 yuan divided by their respective stock prices. Generally speaking, if it reaches 6% or more, there is an opportunity to buy, and if it falls to 5%, it is an opportunity to sell. Since the national team has a heavy position of 34%, 41%, 57%, and 67%, the opportunity to buy low and sell high is still relatively large. In addition, the four major ETFs of the national team can also buy low and sell high.
However, after four consecutive days of net outflows and a net outflow of 6.7 billion last week, northbound funds changed to a net inflow of 600 million this morning.
At present, the market has retreated to around the 20-day antenna of 3043 points and the five-week moving average of 3049 points, depending on the gains and losses of these two bullish market dividing lines. Fortunately, after the eight varieties of the national team retreated, the number of stocks that rose increased from 870 at the lowest to more than 2,800 at most, and more than 2,100 rose before noon, and there was a seesaw effect in large and small cap stocks.
The structural differentiation of the market continues, on the one hand, the mid-cap stocks that have announced better performance, core technology, high growth, low valuation, and have been mistakenly killed have begun to rise steadily from the low level against the trend; on the other hand, the poor performance stocks that have been speculated in the early stage, or the expected poor performance stocks and loss-making stocks have been hung on the fall limit, and the shipment is obvious. After the release of the new national nine articles, the market will gradually believe in rational investment and value investment, and stock selection pays great attention to performance, which may be the future to win. Investors should pay special attention to the top 10 shareholders of the national team and the social security fund at the same time listed in the high-performance, low valuation, new quality productivity of low-priced mid-cap stocks.
Afternoon attention: Can the market close above the 20 antenna and the five-week moving average? Can the top close above 3060 points? Can the eight varieties of the national team's heavy positions rebound? Can the net inflow of northbound funds increase? Can the situation of 2119:3091 stocks falling more and rising less can be improved? Can the trading volume reach more than 850 billion?