U.s.
U.S. stocks remained mixed overnight, with the Dow down 0.21%, the Nasdaq up 0.29%, and the S&P 500 down 0.02%.
The market focused on the latest PPI and CPI inflation data this week to further judge the Fed's monetary policy outlook.
Morgan Stanley believes that the U.S. economy is "cooling" and expects the Fed to cut interest rates three times this year. The agency's research arm believes that there are signs that the US economy is cooling and that deflation will reappear in the April CPI data and accelerate in the second half of 2024.
Chinese concept stocks exploded, and the Nasdaq China Golden Dragon Index rose 3.7%. Among the popular Chinese concept stocks, Bilibili rose 12.37%, Tencent Music rose 10.94%, NIO rose 6.71%, Alibaba rose 5.70%, and JD.com rose 4.91%.
A shares
Today's big A short-term rush higher in the morning, and then fell back quickly, basically continuing the narrow range of shock consolidation throughout the day. Online games and AI have picked up locally, while most of the weighted sectors have seen a pullback. The market volume is shrinking rapidly, and the wait-and-see sentiment is still heavy.
As of the close, the Shanghai Composite Index closed at 3145.77 points, down 0.07%; The Shenzhen Component Index closed at 9668.73 points, down 0.05%; The GEM index closed at 1855.60 points, down 0.26%.
The ratio of individual stocks in the two cities was 2.06:1, nearly seventy percent of the stocks rose, and the market turned into a loss effect, but the vast majority of stocks rose slightly.
The total turnover of the two cities was 824.6 billion yuan, a decrease of 85.1 billion yuan from the previous trading day.
Hong Kong stocks
Hong Kong stocks are opening high and going low today, rushing high and falling, and the upward momentum has weakened, and the short-term may face adjustment.
At the close, the Hang Seng Index fell 0.22% and Hang Seng Technology fell 0.30%.
Southbound funds were not highly motivated today, with only a small net inflow of 115 million yuan throughout the day.
Sector performance
Today, some concepts of AI are strong, game stocks have risen sharply, the brokerage sector has strengthened in the afternoon, and Zheshang Securities has once approached the daily limit; Textile, logistics, papermaking, home furnishing, automobiles and other sectors also performed well.
The coal sector led the decline, and the home appliances, machinery, military and other sectors performed poorly; Banks, steel, oil and other weighted sectors pulled back slightly.
Reviews
On the whole, the big A is still consolidating in a narrow range, the Shanghai Index is still stronger than the GEM, and after not seeing the northbound dynamics, everyone seems to be a little unable to find the direction, and the fundamental reason is still lack of confidence.
However, there has been no major shock in the market, most people are still in a wait-and-see state, the market selling pressure is not heavy, everyone is waiting, and they are looking forward to the performance of the big A.
In addition, because Hong Kong stocks have been relatively strong recently, it has also given Big A a shot in the arm.
In addition to the factors of Hong Kong stocks and foreign capital, the next more important thing is the economic data, the recent series of real estate policy liberalization, if the data can be warm, it can inject confidence into the market.
And now that the interest on bank deposits is declining every day, the investment attributes of real estate are decreasing day by day, and our side is actually a situation of "asset shortage".
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