Stimulated by the opening of foreign capital by 4,200 points, the bottom of A-shares rose and the top moved up
Today's news:
[The three major U.S. stock indexes closed mixed, Tesla rose more than 12%] The three major U.S. stock indexes closed mixed overnight, with the Nasdaq up 0.1%, the S&P 500 up 0.02%, and the Dow down 0.11%. Tesla rose more than 12%, the largest one-day increase since January 2022, and its market value returned to above $500 billion, Apple rose more than 1%, Intel, Microsoft, and Google rose slightly, and Nvidia and Netflix fell more than 3%.
According to the latest report released by the Institute of International Finance (IIF), March this year was the first time since June last year that China's stock market and bond market received net purchases of foreign funds at the same time, with net purchases of US$1.7 billion (about 12.3 billion yuan) and US$2.1 billion (about 15.2 billion yuan) respectively.
The first quarter report of the public fund in 2024 has basically been disclosed, and the first quarter report of the fund managed by Qiu Dongrong and other fund managers, which has attracted much attention in the market, has been unveiled, and the layout of the star fund manager's position adjustment in the first quarter has also surfaced. Relevant statistics show that at the end of the first quarter, the proportion of the total market value of banks held by partial equity funds in the market value of public funds increased by about 0.5 percentage points compared with the beginning of the year, and large state-owned banks increased their holdings more.
[Huawei Developer Conference will release Pangu Large Model 5.0] "Science and Technology Innovation Board Daily" on the 25th, Huawei Developer Conference will be held in Songshan Lake, Dongguan from June 21 to 23. The reporter learned that at the meeting, HUAWEI CLOUD will release the Pangu Large Model 5.0, which will also be the largest developer conference in Huawei's history with the largest number of developers participated.
As of April 24, the financing balance of the Shanghai Stock Exchange was 785.322 billion yuan, a decrease of 933 million yuan from the previous trading day, the financing balance of the Shenzhen Stock Exchange was 699.436 billion yuan, an increase of 947 million yuan from the previous trading day, and the total financing balance of the two cities was 1484.758 billion yuan, an increase of 14 million yuan from the previous trading day.
[Net outflow of northbound funds of 280 million yuan] As of the close of trading at noon, the net outflow of northbound funds was 281 million.
This morning, the market opened 7 points higher at 3037 points, bottomed out at 3034 points, rushed up 3060 points, and closed at 3049 points before noon. The SSE 50, CSI 300, the Shanghai Composite Index, the Shenzhen Component Index, the ChiNext Board, the CSI 500 and the CSI 1000 rose 0.14%, 0.24%, 0.17%, 0.41%, 0.383%, 0.17% and 0.55%, and the Science and Technology Innovation Board fell 0.21%. The ratio of individual stocks is 3427:1743, and the ratio of price limit is 51:5. The half-day turnover of the two cities was 499.3 billion, an increase of 16.5 billion from the previous trading day.
This week, A-shares are still in the final release period of their annual reports, and they are faltering amid concerns about the impact of uncertainty on poor performance statements. However, Hong Kong stocks rose 1,400 points, or 9%, from 16,044 to 17,438 points for five consecutive days. Among them, Hong Kong investors have seen the 5% dividend rate of many Chinese enterprise stocks, as well as overseas funds, mainland southbound funds and QDII to move to Hong Kong stocks. Since February, Hong Kong stocks have risen by 17.5%, outpacing the 15.7% increase in the A-share market from 2,635-3,049 points.
The continuous rise in Hong Kong stocks has somewhat touched A-share investors. However, recently, seven or eight foreign investors are collectively optimistic about China's economic growth exceeding expectations, optimistic about Chinese assets, optimistic about A-shares, and have made the decision to overallocate A-shares. Goldman Sachs, UBS, JPMorgan and others predict that the valuation of A-shares can increase by 40% this year, and the broader market can rise to 4,200 points. This is a prediction they have made since the beginning of the year, and they are now further strengthened.
In view of the fact that the Japanese stock market and the Indian stock market were the first to be launched by foreign investors last year, if they copy it to A-shares and their predictions come true, then A-shares will have a big market rise of 40%. Even if people don't believe that A-shares can rise to 4,200 points, a 500-point discount of 3,700 points, or even a 1,000-point discount to 3,200 points, most investors may have risen to a good fortune. People might as well look at 3200 points for the time being.
In addition to the recent optimism of foreign capital, the introduction of long-term funds is most worth looking forward to is that bank wealth management products increased by 2 trillion yuan in April, reaching 30 trillion yuan, and the expected income target of wealth management products is less than 4%, and now the dividend rate of bank stocks is 5.5%, which can be cashed in 2 months, which is very attractive to bank wealth management products. According to the news, 2 billion bank wealth management products have begun to invest in the stock market, and it is expected that there will be more and more in the future, and the reserve army of 30 trillion wealth management products is not a small amount.
There is also news worth noting that as of April 22, there were only 35 new shares listed this year, raising 26.3 billion, a year-on-year decrease of 63 companies and a decrease of 76.23% in financing. At the same time, 120 companies queuing up to apply for listing were terminated, of which 117 were voluntarily withdrawn, which is the period of the least expansion of new shares in the past 10 years, and the market should be able to launch the market.
Stimulated by this, the bank stocks of the national team continued to weaken this morning, but driven by ETFs such as CSI 50, SSE 50 and CSI 300, as well as the rise of mid-cap stocks with new quality productivity, the market rose by 3060 points at 11 o'clock and fell back to 3049 points before noon. For the third day in a row, there was a disparity between individual stocks and 3427:1743, and 11 indices were in the red except for the Science and Technology Innovation Board and the Beijing Stock Exchange. The trading volume is also 16.5 billion more than last morning, and the market is showing a trend of rising at the bottom and moving up at the top.
Although there are still 4 trading days left in the annual report, the performance of the thunderstorm stocks will still have a certain impact on the market. However, the market has adopted a strategy of looking for certainty in the midst of uncertainty, including a third of the annual reports released in the last four days of the year, which has been released in advance, and the results are also good. Therefore, the market chose a "dumbbell" type of investment, that is, to seize the high-performance, low-valuation and high-dividend large-cap blue chip stocks, in order to obtain high dividend income after 2 months, such as the fall of the four major bank stocks this morning, its dividend rate remained at the level of 5.5%, if the stock price goes down to 6% of the dividend rate, then there is investment value, it is worth people to allocate a part of the position. On the other hand, there are new quality productivity mid-cap stocks with excellent performance, relatively low estimates, in line with industrial policies, core technologies and high growth, which will be the mainstream varieties that outperform the market in the second quarter or even within the year.
In the last three trading days, when people are worried about the uncertainty in the May Day holiday, the bold can just absorb the deterministic varieties on dips and strive for a good harvest after the long holiday.
Afternoon attention: Can the market close above the 20-week average at 3,043 points and the five-week moving average at 3,049 points? Can the top close above at 3,060 points? Can the eight varieties of the national team's heavy positions perform? Can the northbound funds become a net inflow on the basis of the highest net outflow of 2.8 billion yuan in the morning and 280 million yuan before the afternoon? Can the situation of 3427:1743 stocks rising more and falling less can be maintained and expanded? Can the trading volume be more than 800 billion?