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The Shanghai Composite Index rose more than 1% to regain 3,100 points, and the third phase of the big fund hit hard, and the semiconductor industry chain rose for a long time

The Shanghai Composite Index rose more than 1% to regain 3,100 points, and the third phase of the big fund hit hard, and the semiconductor industry chain rose for a long time

Finance Associated Press

2024-05-27 16:38Published on the official account of Cailianpress, a subsidiary of Shanghai Poster Industry Group

On May 27, the Associated Press of Finance reported that the market fluctuated and strengthened throughout the day, with the Shanghai Composite Index opening higher and closing up more than 1%, recovering the 3,100-point mark. On the disk, the power industry chain continued to be strong, among which the virtual power plant led the rise, Zhongzhi Technology, Guodian Nanzi, Hengshi Technology, and Chendian International rose to the limit. The concept of cross-border e-commerce rose in early trading, and Kaichun shares, cross-border pass, Haicheng Bangda, Pulutong, and Guolian shares rose to the limit. In the afternoon, the semiconductor industry chain broke out collectively, among which the lithography machine and photoresist led the rise, and Rongta photosensitive, Lanying equipment, Yangfan new materials and other daily limits. In terms of decline, the photovoltaic concept was adjusted, Tuori New Energy and Tianchen shares fell to the limit, and King Kong Photovoltaic fell by more than 10%. Overall, stocks rose more and fell less, and nearly 3,400 stocks in the whole market rose. The turnover of the Shanghai and Shenzhen stock markets today was 774.8 billion, an increase of 10.9 billion from the previous trading day. At the close, the Shanghai Composite Index rose 1.14%, the Shenzhen Component Index rose 0.88%, and the ChiNext Index rose 0.68%.

Sector

On the plate, the conductor plate of the chip plate continued to rise in the afternoon, among which the lithography machine and photoresist concept stocks rose first, Rongta Sensitive, Lanying Equipment, Zhangjiang Hi-Tech, Tongcheng New Materials and other shares rose by more than 10%. On the news side, the third phase of the National Integrated Circuit Industry Investment Fund Co., Ltd. was formally established on May 24 with a registered capital of 344 billion yuan. The third phase of the fund will increase investment in core technologies and key components, and will also focus on the docking and integration with international advanced technology.

According to the statistics of the Semiconductor Industry Association (SIA), the total global semiconductor sales in 2024Q1 were US$137.7 billion, a year-on-year increase of 15.2%. Among them, the global sales amount in March 2024 was 45.91 billion US dollars, a year-on-year increase of 15.2%. The sales volume of the Chinese market in March was 14.14 billion US dollars, a year-on-year increase of 27.4%, leading the world.

From the market's point of view, in addition to being driven by the news of the establishment of the third phase of the big fund, most semiconductor stocks have experienced a long period of consolidation at a low level, and there is already a need for expected repair, so today's rise is more biased towards over-falling repair. However, it should be noted that according to the current market style, hot spots often maintain a rapid rotation trend, and the semiconductor chip industry chain itself has a large capacity, and if you want to get out of continuity, you need more funds to undertake, so once there is no continuous incremental capital entry in the follow-up market, pay attention to the possibility that the direction will fall into differentiation again.

The direction of power and power grid continued to be strong, and Zhongzhi Technology, Chendian International, Guangxi Energy, Xinzhonggang, Dalian Thermal Power 2 boards, Hengshi Technology, Zhongzhi Technology, Guodian Nanzi and other stocks rose to the limit. Stocks such as Teruide, Dongfang Electronics, Jidian Shares, and Jingneng Thermal Power were among the top gainers.

On the news side, the market is most concerned about May 23, Liu Mingsheng, chairman and party secretary of the State Power Investment Group Co., Ltd., attended the symposium and put forward opinions and suggestions on deepening the reform of the power system. The main line of follow-up work is clarified, and the reform of the power system is expected to be further deepened, and the power supply-side regulation (thermal power flexibility transformation, energy storage, and consumption rate), user-side electricity price reform, and power trading market reform are expected to be further accelerated. In addition, the demand for electricity in summer is about to rise sharply, the demand for overseas power grid renewal will explode, and the prosperity of the two main lines of power grid equipment will continue to increase. Therefore, driven by the above logical expectations, there is still room for repeated activity in the direction of power and power grid. However, after two consecutive days of volume increase, the internal differentiation of the plate may gradually increase, and the follow-up will still focus on tracking the front core.

The Shanghai Composite Index rose more than 1% to regain 3,100 points, and the third phase of the big fund hit hard, and the semiconductor industry chain rose for a long time

In terms of individual stocks

At the individual stock level, the money-making effect of today's short-term theme has picked up, among which power stocks have come out of a certain continuity, and driven by the semiconductor chip industry chain in the afternoon, the number of daily limits and even board stocks in the two cities has increased slightly compared with last Friday. However, it should be noted that the current market height has dropped to 3 boards, and the previous short-term high standard continues to have negative feedback. Previously, the 4-board Xinhualian opened to the fall limit, and the trend of Zhenghong Technology throughout the day showed twists and turns, once staged the "earth and sky board" in the afternoon, but the end of the stage again encountered the capital rush and dived, and finally fell more than 6%. Previously, the two boards of copper high-speed connector concept stocks, Walt shares and Longyang Electronics also suffered a sharp fall. At present, the fear of funds is still obvious, and the 5 board has become the limit height of the recent board speculation, so the follow-up focus is on which target can take the lead in breaking through the space suppression of the 5 board. Before that, the rotation of high and low cut of capital speculation may continue, so we should pay attention to the low-absorption arbitrage opportunities after the hot sector retreats.

The Shanghai Composite Index rose more than 1% to regain 3,100 points, and the third phase of the big fund hit hard, and the semiconductor industry chain rose for a long time

Market outlook analysis

After experiencing the adjustment at the end of last week, the market ushered in a rebound today, with the three major indexes floating red across the board, and individual stocks also rising more and falling less. It can be seen that when the Shanghai Composite Index pulls back to near the annual line, it still has a certain amount of momentum. The fly in the ointment is that today's market turnover has increased to a limited extent, still less than 800 billion, and it has not been able to regain its position on the 5-day line, and the overall recovery strength is still weak. Therefore, tomorrow's trend is more critical, if the Shanghai Composite Index can further break through the 5-day line, it is expected to drive short-term sentiment to take the lead in picking up. On the contrary, if the pressure falls again, the short-term shock adjustment structure may continue. In addition, judging from this afternoon, the outbreak of the semiconductor chip industry chain has formed a certain degree of resonance with the index, and if it can get out of continuity, it will also help the subsequent index to stop falling and stabilize.

As today's short-term high continues to have negative feedback, the short-term sentiment indicator fluctuates lower again, gradually approaching the freezing point.

The Shanghai Composite Index rose more than 1% to regain 3,100 points, and the third phase of the big fund hit hard, and the semiconductor industry chain rose for a long time

Market news focus

1. The Political Bureau of the Central Committee of the Communist Party of China: Release a strong signal that failure to take responsibility must be asked and accountability must be strict, and promote financial supervision to truly achieve "long teeth and thorns", with edges and corners

On May 27, the Political Bureau of the Central Committee of the Communist Party of China held a meeting on May 27 to review the "Several Policies and Measures to Promote the Accelerated Rise of the Central Region in the New Era" and "Regulations on Accountability for Preventing and Resolving Financial Risks (Trial)". The meeting pointed out that the prevention and resolution of financial risks is related to national security, overall development, and people's property security, and is a major threshold that must be crossed to achieve high-quality development. The formulation and promulgation of the "Provisions on Accountability for the Prevention and Resolution of Financial Risks (Trial)" is to further promote the implementation of the requirements of comprehensive and strict governance of the Party in the financial field, effectively strengthen the centralized and unified leadership of the Party Central Committee over financial work, further consolidate the responsibilities of relevant management departments, financial institutions, industry authorities and local party committees and governments in the financial field, and urge leading cadres at all levels to establish a correct view of political performance, and implement the tasks of comprehensively strengthening financial supervision, preventing and resolving financial risks, and promoting high-quality financial development. The meeting stressed that it is necessary to earnestly grasp the implementation of the "Regulations", adhere to the strict word, dare to be more serious, dare to be strict, dare to be strict, and release a strong signal that failure to take responsibility must be asked and accountability must be strict, and promote financial supervision to truly achieve "long teeth and thorns", with edges and corners, and establish a strict tone, strict measures, and strict atmosphere in the financial field and persist for a long time.

2. HSBC: In April, the position of pure long active Asia funds in Chinese mainland equities increased by 1 percentage point

Cailian, May 27, HSBC Global Research said that in April, the position of pure long active Asia funds in Chinese mainland stocks increased by 1 percentage point, and the global emerging market fund increased by 0.8 percentage points, both of which lagged behind the benchmark growth in the same period. (Bloomberg)

(Finance Associated Press, Fenglin)

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  • The Shanghai Composite Index rose more than 1% to regain 3,100 points, and the third phase of the big fund hit hard, and the semiconductor industry chain rose for a long time
  • The Shanghai Composite Index rose more than 1% to regain 3,100 points, and the third phase of the big fund hit hard, and the semiconductor industry chain rose for a long time
  • The Shanghai Composite Index rose more than 1% to regain 3,100 points, and the third phase of the big fund hit hard, and the semiconductor industry chain rose for a long time

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