Two major negatives! A-shares and Hong Kong stocks fell sharply, and the fake "price adjustment letter" triggered a price limit, and the cutting leeks were upgraded again

Look at finance

2024-05-23 16:41Posted on the official account of Guangdong Kancai

A shares like to roll so much, today finally rolled themselves up, since the northbound funds intraday dynamics were closed, the volume of A shares can not get up, no amount is just that, and every day crazy rotation, out of a small composition to pull a plate, completely news-driven. Yesterday it was finally the turn of the most miserable photovoltaic sector this year, which can be regarded as rising and rising tides, looking at the posture and thinking that it was reversed, but today it fell sharply, chasing high is a must, and the ecology is extremely bad.

Nvidia's first-quarter results exceeded expectations in the early hours of this morning, and its second-quarter guidance also exceeded expectations, and its stock price exceeded $1,000 after hours. However, today, the AI sector dived after opening high, and the core votes such as the Industrial Fortune Federation were in general fashion, and the theme stocks were hyped up, which deserved to be A-shares.

We believe that the main reason for today's sharp decline in A-shares and Hong Kong stocks is that they have risen more recently. As far as A-shares are concerned, the futures prices of gold, copper, silver and other futures fell sharply last night, resulting in a sharp pullback in the non-ferrous metal sector, and the real estate sector also opened sharply lower.

Let's expand on it in detail:

The Fed is hawkish

The Federal Reserve released the minutes of its May interest rate meeting in the early hours of this morning, when Powell's speech was dovish, but today's minutes are a bit hawkish. The minutes showed that Fed officials stressed that the policy rate would need to remain at current levels for a little longer than previously expected based on disappointing inflation data. There were even "multiple participants" who said they were willing to tighten policy further if the risk of a further rise in inflation materialized in some form.

After the recent continuous short-forcing surge in copper futures, COMEX copper futures plummeted nearly 6%, and COMEX gold fell more than 1.8%.

The hawkish minutes of the meeting were one of the reasons for the commodity pullback last night, but it was not the main reason, and the dollar index and the US 10 bond yields did not fluctuate significantly last night, indicating that the market's expectations for the Fed's interest rate cut have not changed significantly.

In fact, the U.S. economy is weakening, and the domestic economic recovery has no signs of strengthening, and there is no fundamental basis for trading reflation. After the non-ferrous metal is crazy, the mood will retreat, and if it rises more, it will fall.

The limit of a "fake letter".

Today, there is an unbelievable thing, a letter of price adjustment for nitrocellulose paid for the sales branch of North Chemical Industry Co., Ltd. was widely disseminated, and Beihua shares rose to a limit. However, according to the Financial Associated Press, the staff of the company's securities department said that the rumors of the price increase of nitrocellulose are false news, and the price adjustment letter is not true, and the company will reply to the matter in public channels later.

Although A-shares are now popular to write small essays and cut leeks, it is still not common to make a "price adjustment letter". Sigh again that the ecology of A-shares is too bad, speculation has become a trend, and retail investors like to speculate, and retail investors are the most active group of funds in A-shares.

For example, today Nvidia has derived a concept of "electromagnetic wave shielding", and many shares such as Fangbang shares and Hongfuhan have a daily limit. The real industrial chain of CPO and PCB is not rising, and various concepts are flying. We are not saying that the concept of speculation is completely wrong, many industries have come from the concept, but the concept of A-share speculation is somewhat nonsensical, and it is completely a chip game.

Finally, a brief look at the market, as of the close, the Shanghai Composite Index fell by 1.33%, the ChiNext Index fell by 1.38%, the Hong Kong Hang Seng Index fell by 1.7%, and the Hang Seng Technology Index fell by 2.41%. The turnover of the two cities increased slightly to 0.84 trillion, and more than 4,500 companies fell.

Risk Warning:

The stock market is risky, investment needs to be cautious, this article does not constitute investment advice, readers need to think independently

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