The State Council officially announced the night before yesterday that it had adopted a draft decision on the reform of the registration system, authorizing the Shanghai and Shenzhen exchanges to implement the registration system within 2 years from the date of implementation of the decision. Yesterday, there was even news that the registration system will be officially launched as early as May next year. However, the impact of the news on the broader market is relatively limited. Yesterday's Shanghai and Shenzhen two markets opened plainly, the early session in the brokerage stocks driven by the Shanghai index rushed up 3503.65 points, but by the military, steel, real estate and other weighted stocks dragged down, the afternoon rebound weakened, the tail of the slight dive. Relative to the Shanghai market trend is unstable, the Shenzhen market is relatively strong. Small-cap stocks, represented by computers, were active, with the ChiNext index rising more than 1%. In terms of thematic concept, mobile payment and network security concept stocks performed eye-catchingly, and many individual stocks rose and fell.
As of the close, the Shanghai Index reported 3455.50 points, down 16.94 points, down 0.49%; the Shenzhen Component Index reported 12181 points, up 1.20 points, up 0.01%; the Small and Medium-sized Board Index reported 8134.48 points, up 18.72 points, up 0.23%; the ChiNext Index reported 2695 points, up 27.60 points, up 1.03%. The Shanghai market traded 279.5 billion yuan, the Shenzhen market traded 449.24 billion yuan, and the total transaction volume of the two cities was 728.74 billion yuan, a slight increase from the previous trading day's 718.237 billion yuan.
Internet finance concept stocks broke out in an all-round way
On the disk, the computer sector led the rise, up more than 1%, communications, leisure services, media, medicine and other sectors rose in the front, non-bank financial rushed higher and fell back to close up; there are still most sectors down, of which national defense and military industry, steel, real estate, non-ferrous metals and other sectors fell in the front. In terms of theme concepts, concept stocks such as mobile payment, network security, and smart IC cards have performed prominently, and most of the themes have been turned off. Internet finance concept stocks broke out in an all-round way.
In terms of individual stocks, nearly 50 individual stocks in the two cities rose and fell, and 3 stocks fell. 127 stocks rose more than 5 percent, and 74 stocks fell more than 5 percent.
It shows that the Shanghai market outflow of 4.524 billion yuan, the main funds flowed out for the fifth consecutive day, the future market is worrying.
On the news side, according to the news, on the 10th, the central bank will carry out 20 billion 7-day reverse repurchase operations, so far, this week's open market to achieve a net return of 50 billion yuan. Industry insiders said that this week's short-term capital disturbance factors are small, and the supply of funds is more balanced, so it is reasonable for the central bank to return to the trend.
The median price of the renminbi was the weakest since August 2011. The yuan traded at a midpoint of 6.4236 against the dollar, its weakest since August 2011 and fell for four consecutive days; the previous day's median price was 6.4140, closing at 6.4280.
The impact of the registration system on the market is relatively limited
Recently, the "new demon stock" Century Cruise Ship has earned enough market eyeballs, although due to abnormal fluctuations in stocks has been suspended for self-examination, but a traditional enterprise with mediocre qualifications and sluggish performance, only because of the backdoor of the Chinese stock giant network, it has become a phoenix, pulling 20 up and down, no wonder the market sighs: A share shell resource speculation is the most profitable way in recent years. But with the registration system on the front, listed resources are no longer scarce, shell resources are bound to be greatly reduced, century cruise ship crazy performance, will be the last crazy shell resources?
Although the registration system is a major event in the reconstruction of the capital market system, after all, it is not a short time before the official launch, and the listing of 28 new stocks before the end of the year is really affecting the market. Next week, a new round of 10 new stock subscriptions is expected to exceed 3 trillion yuan, and the blood draw effect cannot be ignored. As of December 9, the financing balance of the Shanghai Stock Exchange was reported at 681.876 billion yuan, and the financing balance of the Shenzhen Stock Exchange was reported at 472.25 billion yuan, a total of 1154.126 billion yuan, a decrease of 1.461 billion yuan, and the financing balance of the two cities has also fallen for six consecutive years.
The peripheral market is even more "mountain rain is coming to the wind full of buildings". Next Wednesday, the Federal Reserve will announce the interest rate decision, from the current global market undercurrents, whether the Fed raises interest rates or not, the global market will usher in a "trembling moment".
In the past two days, the onshore and offshore RMB exchange rate has begun to plummet, and the onshore RMB plunged again by 0.42% yesterday to 6.443, hitting a new low in more than 4 years. As far as the A-share market is concerned, it is better that the Fed does not raise interest rates next week, and once the interest rate hike is opened, the butterfly effect caused by it is likely to set off a monstrous wave.
Yang Delong, chief strategist of the Southern Fund, said in an interview with reporters that the leading rise of securities stocks is due to the news stimulus of the launch of the registration system within two years, and the hot spots that can be paid attention to at the end of the year also include the Shenzhen-Hong Kong Stock Connect, which is getting closer and closer to the start time. "Once the Shenzhen-Hong Kong Stock Connect is announced, Hong Kong investors may prefer to allocate high-quality stocks in the Shenzhen Stock Exchange's small and medium-sized board and small and medium-sized enterprises, and the scarce liquor stocks in Hong Kong stocks may usher in better investment opportunities."
The team of Li Lifeng of Guojin Securities believes that the market has certain expectations about the promotion of supporting measures related to the registration system during the year, and the CSRC has stated that it will not cause a large-scale expansion of new stocks, so the impact on the market will be relatively limited.
"The CSRC stressed that the reform of the registration system will be gradual and will not cause a large-scale expansion of new shares; the introduction of the registration system will bring a large number of investment targets in emerging industries, promote supply-side reform, and benefit the overall economic development in the long run." Analysts said.
Jufeng Investment Gu Guo Yiming analysis believes that yesterday's financial-led weighted stocks, the stock index opened up 3500 points, but the subsequent rush to the top of the decline showed the weakness of the market incremental funds, although the Afternoon ChiNext board once bottomed out, but it is still difficult to resist the decline of large-cap stocks. Throughout the day, the index plunged at the end of the session, of which the sharp decline in securities and real estate strong stocks is the main reason, but from its trend point of view, whether it is finance or real estate, the recent time has been adjusted in place, and the short-term decline is only a technical adjustment.
Operational policies
Shareholding is on
Yesterday, the two markets were sorted out in a narrow range, and the upward trend of the medium-term market remained unchanged. Characteristics: the daily indicator is translated after five times of forcing the short without results; the moving average bulls are unchanged; the wave shape is finely fragmented and sideways. In summary, the above three points, on the surface, the market looks bland, but in fact, it contains major opportunities. Operationally, the shareholding is up.
Industry strength and weakness: real estate tourism home appliances ST plate fertilizer automobile daily necessities food building materials brewing paper printing auto parts pharmaceutical biochemical agricultural comprehensive textile deep index media education retail chain SSE index IT GEM bank non-ferrous metal electronic small and medium board communication brokerage insurance transportation logistics machinery manufacturing water supply supply gas supply steel power construction project trade coal oil gas and other 39 industries. The median position of 22 industries such as real estate and tourism is upward, the median position of 6 industries such as chemical industry and building materials is shifted upwards, and the median position of 11 industries such as brewing, papermaking and printing is downward. The industry as a whole continued the trend of median shocks.