At present, the average price-earnings ratios of the Shanghai Composite Index and the ChiNext Index are 13.46 times and 31.03 times respectively, which are below the median level in the past three years, and the market valuation is still in a low area, which is suitable for medium and long-term layout. The turnover of the two cities on Tuesday was 827.6 billion yuan, which was in the median area of the average daily trading volume in the past three years. The release of the new national nine articles has promoted the maturity of the market and boosted the long-term confidence of the market. The overall internal and external environment is conducive to the continued stabilization and improvement of the market, and the stock index is expected to maintain a volatile upward pattern in the future, while it is still necessary to pay close attention to the changes in policy, capital and external factors.
The top five main net inflows into the industry sector: real estate, phosphorus chemical industry, decoration and decoration, property management, civil explosion; The top five main net inflows in the concept sector: housing leasing, chiplet, old reform, large fund concept, flash memory; The top 10 main net inflows of individual stocks: Tongfu Microelectronics, Vanke A, Industrial Fulian, Shaanxi Coal, Shanggong Shenbei, Huafa Shares, Chuanfa Long Python, Xinyan Shares, I Love My Home, and Xinghu Technology
Recently, the U.S. economic data has been repeated, the manufacturing PMI fell slightly to 49.2 in April, the number of new non-farm payrolls was less than expected, and domestic policies continued to be introduced to support consumption and investment demand. In April, aluminum prices continued to run strongly, among which in terms of fundamentals, the supply and demand of electrolytic aluminum were booming, the domestic inventory of aluminum ingots + aluminum rods continued to be depleted, and the contradiction between supply and demand in the industry was not large, which supported aluminum prices. Riding bulls and bears believes that under the market volatility, the investment in commodities has increased, mainly reflected in the increase in trading volume, and we can pay attention to the opportunities brought by changes in market supply and demand.
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 features may further strengthen the user base. As a basic tool, GPT-4o provides a growing soil for more innovative applications. 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, which is also a change mode for AI development to a certain period.
In the first quarter of 2024, the global TWS earphone market shipped 65 million, a year-on-year increase of 6%. With the increase of wireless earphone sensors, the product experience will be more excellent, the superimposed value is smaller than that of mobile phones, and the replacement cycle will be significantly faster than that of mobile phones. The release of AI headsets has become a prairie fire, and the upgrade path of headsets is predicted to be Bluetooth accessories, WiFi networking, mobile signal networking, and finally become an independent intelligent assistant that can be used anytime and anywhere.
At present, the number of electric bicycles in mainland China has reached 320 million, of which 70%-80% use lead-acid batteries, and the first 10 MWh sodium-ion battery energy storage power station in the field of new energy storage in mainland China was officially put into operation in Nanning, Guangxi on May 11, which is the first large-scale application of sodium-ion battery energy storage technology in mainland China, and the commissioning of the project marks a key breakthrough in large-scale energy storage engineering technology of sodium-ion batteries. At present, sodium batteries have not been widely used in the two-wheeled vehicle industry, but with reference to the increase in the penetration rate of sodium-ion batteries in the energy storage industry, it believes that with the gradual tightening of policy control on the safety of two-wheeled vehicles, sodium-ion batteries are expected to be more widely used.
The Shanghai Composite Index has been continuously adjusted this week, and such a trend is often easy to lead to the loosening of funds in the market, so we should be careful of the forced reduction of institutional funds. There has been no obvious sign of rebound in heavyweight stocks, brokers, banks and other financial stocks have instead shown a pullback trend, in such a market, chemicals, household appliances, electricity and other second-tier blue chips have performed, which is mainly related to seasonality. Investors can pay attention to the hot weather and new opportunities after the school holidays, which is also an investment direction at the end of the second quarter and even the third quarter.
The SSE 50 Index has a high weight distribution in the food and beverage, banking, and non-bank financial industries, showing the characteristics of the value style of the market. Judging from the current market situation, the ChiNext index took the lead in a pullback, and there has been no sign of capital protection, so it is necessary to pay attention to the possibility of returning to around 1800 points to seek support.