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On July 22, the market bottomed out and rebounded throughout the day, and the three major indexes all fell slightly. As of the close, the Shanghai Composite Index fell 0.61%, the Shenzhen Component Index fell 0.38%, and the ChiNext Index fell 0.09%.

In terms of sectors, wind power, software, information technology, and online ride-hailing sectors led the gains, while liquor, duty-free, banking, and fertilizer sectors led the losses.

Overall, more stocks rose than fell, with more than 2,900 stocks rising in the market. The trading volume of the Shanghai and Shenzhen stock markets today was 656.5 billion, down 13.3 billion from the previous trading day.

From last weekend until today, two stocks have soared in popularity on major investment platforms: one is CITIC Securities and the other is Shanghai Belling.

The reason is strange. It turned out that a Shanghai uncle named "Love in Late Autumn" made comments on these two stocks, which were widely circulated on short video platforms. Some sliced ​​videos and screenshots circulated online showed that he even said that CITIC Securities' stock price could "directly rise to 700 yuan" and "three consecutive boards from July 22."

However, judging from the closing situation, the results seem to be less than satisfactory.

CITIC Securities released a huge amount of
Liquor and bank stocks led the decline

During the early morning call auction phase, before 9:20, CITIC Securities did seem to have reached its daily limit for a few minutes, but these large buy orders were quickly withdrawn; as of 9:25, the opening increase was 3%.

However, it was this high opening after nine consecutive positive days that activated the desire of many holders to cash out and also doomed CITIC Securities to not be able to hit the daily limit today.

In fact, the last time CITIC Securities closed at the daily limit was on July 28 last year.

Data shows that as of the closing, CITIC Securities A shares rose 4.13%, with a turnover of 7.364 billion yuan, the largest single trading day since August 28 last year.

Judging from the comments of some netizens last weekend, there are actually many rational voices, but the huge volume released today shows that there may be quite a few investors rushing in to take over.

The performance of the entire brokerage sector also turned green in the afternoon as the "No. 1 brokerage firm" fell.

Even more unfortunate is that today, the two major weighted sectors of banking and liquor led the decline.The top ten A-share stocks by market capitalization all fell.The mysterious funds that “protected the market” through products such as the CSI 300 ETF did not take action until the market was about to close.

According to reports, near the end of the trading day, the trading volume of many CSI 300 ETFs increased significantly, among which Huatai-PineBridge CSI 300 ETF (510300) traded over 4 billion yuan after 14:00, and E Fund CSI 300 ETF (510310), Huaxia CSI 300 ETF (510330), and Harvest CSI 300 ETF (159919) traded over 900 million yuan after 14:00. The trading volume of the above four ETF funds after 14:00 exceeded the total trading volume in the first three hours.

The figure below is the intraday chart of the CSI 300 ETF (510300).

The above reasons led to the weak performance of major stock indices.

The stocks that performed relatively "against the trend" were the index components such as CSI 2000 and micro-cap stocks.

In terms of news, the central bank fired three arrows in the morning trading today:

First, it was announced that the open market 7-day reverse repurchase operation will adopt a fixed interest rate and quantity bidding from now on, and the operating interest rate will be adjusted from 1.8% to 1.7%;

Second, the one-year and five-year LPRs will be reduced by 10 basis points simultaneously to 3.35% and 3.85% respectively.

Third, the central bank announced a phased reduction in MLF collateral for MLF participating institutions that sell medium- and long-term bonds.

Guangzhou Futures believes that the loose monetary policy cycle is relatively long, and the market usually has expectations for countercyclical regulation. The long-term market interest rate has fully or even over-traded the expectation of the future central interest rate downward, thus breaking through the policy interest rate, while the fund interest rate is more sensitive to policy regulation, and trading is based on "reality". At this stage, combined with the speech of the central bank governor and the article written by the Financial Times, the LPR reform is getting closer and closer, and the MLF interest rate-LPR quotation mechanism may evolve into a direct link between LPR and money market interest rates. A series of important economic data have been released recently, indicating that the economy continues to develop in a wave-like recovery path, and the necessity of countercyclical monetary policy regulation is still great. The market is full of expectations for the reserve requirement ratio cut and LPR interest rate cut in the third quarter.

As for the liquor sector, CITIC Securities Research Report stated that due to the weak overall consumer demand, the overall sales pressure of the liquor industry appeared in the second quarter, and the leading companies maintained a relatively stable performance by continuously increasing their market share. It is expected that the overall performance of the leading liquor companies in the second quarter will be stable, better than the pessimistic expectations corresponding to the current valuation. Among them, high-end liquor is expected to maintain double-digit growth; although regional liquor maintains rapid growth, the trend has slowed down; sub-high-end price-driven sales continue to be under pressure.

The technology line is repeatedly active
Wind power equipment bottom movement

To be fair, the stock comments of "Shanghai Uncle" did hit some sectors, such as the technology sector that rose against the trend today. Shanghai Belling, which he mentioned, was strong throughout the day and briefly closed at the end of the trading day.

But it must be pointed out thatThe repeated activity of the technology line is obviously not achieved by one person's "hype", but the market has a consensus and synergy in this direction recently.。

Throughout the day, the innovation and entrepreneurship index, especially the Science and Technology Innovation 50, performed strongly. In terms of sectors, software development, Huawei Euler, and data security were among the top gainers.

First of all, just last weekend, Microsoft Windows systems in many parts of the world crashed due to a security software update, resulting in a "blue screen". Many industries including aviation, medical care, media, finance, retail, and logistics were affected.

Minsheng Securities said that since Microsoft Windows is widely used around the world, this "blue screen" incident has had varying degrees of impact on many industries around the world. This incident shows that the operating system is the "foundation" of the entire IT industry, and plays an important role in the entire IT industry chain and even in daily life. It is crucial to achieve independent control in the field of operating systems.

On the other hand, there was a new "small essay" in the technology sector in the afternoon.

According to a report by Jiemian News citing foreign media, sources said that Nvidia is developing a new flagship artificial intelligence chip for the Chinese market that complies with current U.S. export controls. Nvidia released the "Blackwell" chip series in March this year and will go into mass production later this year. In this series, the B200 is 30 times faster than its predecessor in certain tasks (such as providing answers to chatbots). Sources said that Nvidia will work with its Chinese distributor partners to launch and distribute the chip, tentatively named "B20."

Stimulated by the news, in the afternoonInspur InformationThere is a certain upward performance.

In addition, todayWind power equipmentThe sector also saw unusual movements at low levels, with the growth rate ranking first in the entire market.

In terms of news, there are multiple positive stimuli for this sector recently, such as:

On July 18, the Development and Reform Bureau of Xuwen County, Zhanjiang City, Guangdong Province issued the "Approval on the Approval of the China National Nuclear Corporation Xinhua Power Generation Zhanjiang Xuwen Donger Offshore Wind Power Project", agreeing to the construction of the project.

The Shanghai Municipal Committee of the Chinese People's Political Consultative Conference recently held a special meeting to supervise and promote the key proposal of "Promoting the transformation of energy structure and promoting Shanghai's implementation of the dual carbon strategy". It is reported that deep-sea wind power is the largest treasure trove of green power resources for sustainable development in Shanghai in the future. The Shanghai Municipal Development and Reform Commission has formulated a plan and obtained national approval. The total scale is 29.3 million kilowatts. After all are completed, it can provide about 100 billion kilowatt-hours of green electricity each year.

Guangxi's 6,500MW offshore wind power will soon start bidding. On July 19, the National Energy Bidding Network released the "Guodian Power Guangxi Wind Power Development Co., Ltd. Offshore Wind Power Competitive Allocation Technical Service Open Bidding Project Bidding Announcement".

Also, on July 19, the State Council Executive Meeting studied policy measures to increase support for large-scale equipment upgrades and trade-in of old consumer goods.

Investment is risky, independent judgment is important

This article is for reference only and does not constitute a basis for buying or selling. You should bear the risks of entering the market at your own risk.

Cover image source: Screenshot of market software

Reporter Zhao Yun, Editor Xiao Ruidong

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