The Shanghai Composite Index fell 0.82%, and the real estate sector strengthened against the market

CBN

2024-05-15 15:18Posted on the official account of Shanghai Yicai

On May 15, as of the close, the three major indexes fell collectively. The Shanghai Composite Index fell 0.82%, the Shenzhen Component Index fell 0.88%, and the ChiNext Index fell 0.9%. Stocks fell more and rose less, and more than 3,800 stocks fell.

In terms of sectors, kitchen and bathroom appliances, real estate development, and building materials sectors were among the top gainers, and securities, electricity, and automobile sectors were adjusted.

Specifically, the real estate development sector was among the top gainers. As of the close, Everbright Jiabao and Tiandiyuan rose by the limit, and Cinda Real Estate rose 7%.

The precious metals sector was active. As of the close, CICC Gold rose more than 3%, Shandong Gold, Sichuan Gold, Hunan Gold, etc. followed suit.

Brokerage stocks were lower. As of the close, Zheshang Securities fell to the limit, Guosheng Financial Holdings fell nearly 9%, and Pacific fell more than 8%.

【Fund Flow】

The main funds continued to flow into real estate, electronics, basic chemicals and other sectors in the end of the market, and the net outflow of non-bank finance, medicine and biology, public utilities and other sectors.

In terms of individual stocks, Tongfu Microelectronics, Industrial Fulian, and Jicheng Electronics received net inflows of 1.208 billion yuan, 451 million yuan, and 444 million yuan. In terms of net outflows, WuXi AppTec, Kweichow Moutai and Oriental Fortune were sold off by 946 million yuan, 396 million yuan and 349 million yuan.

【Institutional Perspectives】

Guojin Securities: The growth of global copper supply is limited, the supply disturbance of leading mining enterprises has intensified, and the supply and demand of copper have remained in a tight balance; The growth of computing power brought about by generative AI has increased the long-term demand for copper from the supply side (data center) and the transmission side (5G base station). It is expected that driven by AI-related application fields, the demand for independent research and development and import substitution of high-end copper alloy materials such as high-end copper strip and copper foil for PCB electronic circuits will continue to increase, and the AI wave will bring long-term growth in copper downstream consumption.

CITIC Securities: In the first quarter, apparent gas consumption increased by 11.9% year-on-year, with the decline in gas prices, high electricity demand and economic recovery as the main driving forces. The utilities sector is in an upward earnings cycle with high industry certainty, and the allocation value is outstanding in the current environment.

Guotai Junan: As a basic tool, GPT-4o provides a growing soil for more innovative applications. ChatGPT has the world's broadest user base for large models, with more than 100 million people using ChatGPT every week, and the free launch of GPT-4o's text and image functions may further strengthen the user base. The understanding of images and videos and efficient real-time interaction have the possibility of replacing other single-function AI software to a certain extent, and GPT Store is expected to launch more convenient applications and enrich the app store ecosystem. At the same time, with the continuous penetration of GPT on desktop and mobile, AI assistant applications are expected to be popularized faster, and new business models may be gradually introduced.

(This article is from Yicai)

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