The global stock market fell across the board! The yuan fell below 7.27, and A-shares fell below 3,100 points, and the bearish was found

Look at finance

2024-05-30 17:02Posted on the official account of Guangdong Kan Finance

Yesterday, everyone was complaining that A-shares were like electric fans, and they couldn't wait to rotate more than a dozen plates a day, and they were caught chasing high. Today is good, the opportunity to chase high is gone, directly close the door to harvest, electricity, nonferrous metals, finance, oil and other strong sectors in the early stage of the whole line, many popular stocks yesterday up and down today, the Shanghai Index fell again to 3100 points.

We yesterday gave you a reminder of resource stocks, the risk of high dividends, and opportunities in the low-priced technology sector, and the recent strength of Nvidia and Dell Technologies is also driven by AIPC.

Specifically, let's take a look at today's blockbuster news:

U.S. 10 bond yields rose above 4.6%

The U.S. Treasury auction of $69 billion in two-year Treasuries and $70 billion in five-year Treasuries on Tuesday did poorly, putting selling pressure on the U.S. bond market at the start of the week, and the demand for the July Treasury auction on Wednesday was similarly flat.

The results of this week's series of Treasury auctions have been very poor, so the sharp rise in bond yields is not surprising, reflecting that fears of longer elevated interest rates have not dissipated.

Minneapolis Fed President Kashkari said on Tuesday that he thinks the probability of a rate hike is low, but nothing should be ruled out at this time; It will take months of positive inflation data to convince him that a rate cut is appropriate; There will certainly not be more than two rate cuts this year.

Weak demand for U.S. Treasury bonds and hawkish Fed officials led to a sharp rise in U.S. 10 bond yields, rising above 4.6% last night, suppressing risk appetite in global markets. European stock markets fell across the board last night, with the Dow Jones falling in a row, and the Nasdaq closing down 0.58%, but Nvidia continued to rise slightly, and Dell Technologies rose nearly 8%.

Asia-Pacific stock markets also performed poorly today, with the Hang Seng Index, Nikkei 225 and South Korea's Kospi all down more than 1%.

Due to the uncertainty of the Federal Reserve's expectations, coupled with the recent rapid rise in gold, silver, copper and other non-ferrous metals overdrawn long momentum, COMEX gold fell 0.8% last night, and COMEX copper fell more than 2.3%. Although China has issued the "2024-2025 Energy Conservation and Carbon Reduction Action Plan" to strictly control the new smelting capacity of copper and alumina, the funds have actually been fulfilled through policies.

The semiconductor sector soared

We mentioned yesterday that although the third phase of the big fund was only managed for one day, but the trend of semiconductor core votes such as Tongfu Microelectronics is not weak, and today there is a news of "Huawei 3nm", and the A-share semiconductor sector exploded intraday, we believe that this news is just a catalyst, and the strength of the semiconductor sector is more because of the low position and improved logic.

In fact, many links in the TMT sector have improved in the first quarter, but in the past two months, they have been suppressed by the style of high dividends and cyclical stocks.

There are also many catalysts for TMT in June: from June 4 to 7, the Taipei International Computer Show (COMPUTEX2024) will be held, which is the first IT event in Asia and the second largest in the world, and many technology giants such as NVIDIA, AMD, Qualcomm, Intel, etc. will showcase their latest AI PC products and technologies; Apple announced that WWDC 2024 will be held from June 11 to 15, Beijing time, and the market's expectation is how to integrate AI; Microsoft plans to launch Windows 11 AI PCs with Copilot starting June 18. In addition, Microsoft also plans to add a button on the Windows keyboard to activate the AI Copilot service, and the first devices with the new keys will be available this month.

Today, storage, HBM and other sub-sectors are strong, and many stocks such as Guoke Micro, Wanrun Technology, and Shanghai Belling have daily limits.

Stock news

Tsingtao Beer fell more than 4%, probably because sales fell by 6.4% year-on-year in May and 6-7% year-on-year from January to May. The decline in sales in May was mainly due to relatively weak demand and the upcoming change of the company's board of directors.

Changchun High-tech once dived rapidly in the intraday today. As of noon close, Changchun High-tech was reported at 104.58 yuan, down 6.64 yuan, or 5.97%. The staff of Changchun High-tech Securities Department said that the company reiterated that it is not a major shareholder to illegally occupy the funds of listed companies, and there is no risk of bad debts in related funds, let alone the so-called ST risk.

Chinese ships rose more than 5%. This week, Yangzijiang + China Shipbuilding Department received a number of new orders, among which Guangzhou Shipyard International rarely inserted orders, and the price of ships accelerated by 13% to 18%, and the possibility of the new ship market booming beyond expectations in the second half of the year is also increasing.

Finally, looking at the market, as of the close, the Shanghai Composite Index fell 0.62%, the ChiNext Index rose 0.12%, the Hong Kong Hang Seng Index fell 1.30%, and the Hang Seng Technology Index fell 0.24%. The turnover of the two cities increased slightly to 0.72 trillion, which was originally shrunk in the morning, and the amount was released at noon due to the smashing and anti-pulling, otherwise it may not even be 700 billion.

I haven't paid attention to the RMB for a while, and the offshore RMB exchange rate actually fell below 7.27, which is also a suppression for A-shares and Hong Kong stocks, after all, one of the narratives of the previous sharp rise in Hong Kong stocks is that the RMB exchange rate is stronger than the yen.

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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