The turnover of the two cities shrank to 700 billion, and the frying rate soared by nearly 50%.

Finance Associated Press

2024-05-29 16:46Published on the official account of Cailianpress, a subsidiary of Shanghai Shanghai Poster Industry Group

Finance Associated Press, May 29 -- The market rose and fell throughout the day, the hot plates rotated rapidly, the price limit of individual stocks was close to 50%, and the trading volume of the two cities was only 700 billion. On the disk, the non-ferrous sector was strong throughout the day, with Huayu Mining, Hunan Gold, Zhuye Group, etc.; The photovoltaic sector rose intraday, Yuxing shares, Tianchen shares, and Haiyuan composite materials rose to the limit; The concept of AIPC strengthened, Everbright Tongchuang rose by the limit, and Zhongshi Technology rose by more than 10%; BYD's hybrid concept drove the automobile industry chain to rise in the afternoon, Tongda Electric, Fuda shares, and Xinrui Technology rose by 8%. In terms of decline, the virtual power plant and energy storage sectors weakened, with Xinzhonggang, Guoneng Rixin, and Jiuzhou Group falling by more than 5%. Overall, individual stocks rose more and fell less, and more than 2,700 companies rose in the whole market. The turnover of the Shanghai and Shenzhen stock markets today was 707.8 billion, a decrease of 33.9 billion from the previous trading day. At the close, the Shanghai Composite Index rose 0.05%, the Shenzhen Component Index rose 0.25%, and the ChiNext Index rose 0.27%.

Sector

On the plate, the non-ferrous metal plate was strong throughout the day, among which antimony, tungsten and other small metals rose first. Huayu Mining 3 boards, Liyuan shares, Xianglu tungsten industry, Zhangyuan tungsten industry, Huaxi nonferrous metals, Hunan gold and other stocks rose first. On the news side, according to the data of the Yangtze River Nonferrous Metals Network, as of May 27, the price of tin metal was 276,000 yuan/ton, an increase of 32% during the year; Antimony ingots (99.85%) reached 146,000 yuan/ton, an increase of 78% during the year. The agency believes that tight supply + low inventory has become the underlying logic of rising prices of small metals.

From the perspective of the market, although the non-ferrous metal sector has been repeatedly active, in fact, the internal leading direction has always maintained a benign rotation. Under the high level of gold, copper and other directions, the subdivision of small metals such as antimony and tungsten accelerated again to maintain a high level of capital activity. However, the non-ferrous direction has a limited role in driving the market and sentiment, so it is still advisable to look at the independent trend market first.

The photovoltaic sector also opened actively, with Yuxing shares, Tianchen shares, Haiyuan composite materials, Risen Energy, Trina Solar, EGing Optoelectronics, Junda shares, and TCL Zhonghuan among the top gainers. On the news side, the China Photovoltaic Industry Association recently organized a "Symposium on the High-quality Development of the Photovoltaic Industry" in Beijing. Institutions believe that with the acceleration of the clearance of high costs and backward technology, the implementation of relevant policies and the recovery of market demand, the industry is expected to gradually return to the track of benign and healthy development.

However, it should be noted that after the photovoltaic panels rose in the morning, they fell back due to the lack of follow-up buying, and many stocks exploded, and there was no obvious return of funds in the afternoon, so today's rise in photovoltaics may be biased towards short-term over-falling and reverse pumping repair, and the continuity still needs to be further observed.

In the afternoon, BYD's hybrid concept drove the collective rise of the automobile industry chain, among which Tongda Electric, Fuda Shares, Xinrui Technology, and Hunan Oil Pump rose by more than 8%. On the news, BYD released the fifth-generation DM technology on the 28th, with a fuel consumption of 2.9L per 100 kilometers and a comprehensive cruising range of 2100KM.

In the latest research report, the agency said that the new car cycle leads the optimization of the model structure, and the gross profit is expected to continue to improve. Since February, Qin PLUS and other glorious version of the new car on the market, after the price reduction of the company in some price bands there are vacancies, the Qin L/Seal 06DM-i listing opened the company in the low-end market of a new round of new car cycle, to fill the original price range, leading the company's bicycle ASP and gross profit margin continue to rise.

In addition, many hot spots such as satellite navigation, real estate, AIPC, tourism, and solid-state batteries have also been active with the intraday, but the continuity is relatively average, and most of them fluctuate and fall after the abnormal movement.

In terms of individual stocks

At the level of individual stocks, the style of the board is still sluggish, and the early stage of the board leader Wanfang Development and Zhenghong Technology fell to the limit, and yesterday's 4 stocks with 3 boards, except for the successful promotion of Chendian International (experienced many explosions in the afternoon), all showed negative feedback of funds. After Chendian International experienced today's large-scale "T" board, whether it can break through the space suppression of the 5 board can be regarded as the key to whether the follow-up board stocks can break through.

In addition, it should be noted that in the current environment of shrinkage and speculation, it is more difficult for a certain sector to get out of the overall swing market. Therefore, the strategy of "light sector and heavy stocks" can be adopted, and in the follow-up hot spot rotation, we can focus on short-term arbitrage opportunities that are relatively contrarian or undertake strong core targets.

Market outlook analysis

Today's market continues to diverge, and the volume can further shrink to about 700 billion. In this context, the distribution of market hotspots is relatively scattered, and it shows a disorderly and rapid rotation trend, which is often followed by a wave of pulse pull. Reflecting that in the context of the short-term consolidation of the power sector, the market sentiment is relatively strong, and the funds will only make trial and error from some low-level themes driven by good news. The rapid rotation between hot spots may be regarded as an inevitable process of alternating money-making cycles, and it is still possible to maintain enough patience to cope with the needs and wait for a new round of deterministic leading main line to be decided before following.

Short-term sentiment indicators fluctuated lower throughout the day, once again approaching the downturn zone.

Market news focus

1. People familiar with the matter: China may invest about 6 billion yuan to encourage the research and development of all-solid-state batteries

On May 29, the reporter learned through multiple sources that China may invest about 6 billion yuan in the research and development of all-solid-state batteries, including CATL, BYD, FAW, SAIC, Weilan New Energy and Geely, a total of six companies or receive basic research and development support from the government. A number of people familiar with the matter confirmed that this unprecedented project in the industry is led by relevant government ministries and commissions, and qualified enterprises are encouraged to carry out research and development of all-solid-state battery related technologies. It is reported that after strict screening, the project is finally divided into seven major projects, focusing on different technical routes such as polymers and sulfides. (China Daily)

2. The IMF raised China's economic growth forecast to 5% this year

On May 29, the International Monetary Fund (IMF) announced in Beijing on the 29th that it would raise China's economic growth forecast for this year by 0.4 percentage points to 5%.

(Finance Associated Press, Fenglin)

View original image 95K

• 

• 

•