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China Fund News Amman

On July 26, Li Daxiao's Weibo profile was updated to "former chief economist of a securities firm." Previously, Li Daxiao served as chief economist of Yingda Securities. As of now, Li Daxiao's personal Weibo has 6.23 million followers.

Many media outlets asked Li Daxiao for confirmation, and Li Daxiao responded that he had retired.

Yingda Securities staff said that Li Daxiao has indeed resigned and is now retired. The company has not yet made any specific appointments as to whether someone will take over his job.

According to his public resume, Li Daxiao graduated from South China University of Technology in the 1980s with an engineering background. He became an early investor in A-shares in the early 1990s and has the Shenzhen No. 1 shareholder code. In 1997, Li Daxiao joined Dongguan Securities as chief analyst. In 2008, Li Daxiao joined Yingda Securities and served as director of Yingda Securities Research Institute and chief economist.

In the past few years, when the A-share market was sluggish and investors were pessimistic, Li Daxiao always held an optimistic view. He firmly believed that the spring of China's high-quality assets had arrived, and called for "strengthening investor protection when the market is pessimistic!" However, he reminded people that health, family and home are more important than stocks.

The A-share market has changed direction

In the morning session of July 26, the market opened low and then rebounded in the same direction. The large-weight stocks collectively made up for the decline during the session, causing the Shanghai Composite Index to weaken, and the dual innovation index actively led the gains.

On the market, the concept of equipment renewal consisting of machinery and home appliances opened sharply higher under the policy boost, and then the index fluctuated and fell under the heavyweight sell-off of banks and telecommunications; in the morning, the TMT theme recovered, the commercial aerospace concept exploded, and the chip and computing power ends also performed well.

As of midday close, the Shanghai Composite Index fell 0.19% to 2881.23 points, the Shenzhen Component Index rose 1.28%, and the ChiNext Index rose 0.99%. More than 4,400 stocks rose in half a day, and the seesaw effect was significant in the stock environment.

It is worth noting that brokerage stocks generally rose, Jinlong shares rose 4 times in 5 days, and Zheshang Securities rose by more than 5%. All constituent stocks of the Wind Brokerage Index rose.

Bank stocks fluctuated downward, with Bank of Communications and Industrial and Commercial Bank of China falling more than 3%. As of now, the six major state-owned banks, China Merchants Bank and Ping An Bank have announced a reduction in deposit interest rates.

The major heavyweights retreated in turn, with the three major operators leading the decline. China Mobile fell nearly 6% during the session, China Telecom fell more than 4%, and China Unicom fell more than 2%.

In addition, other dividend assets such as electricity, roads, and ports all fell against the trend. Liquor stocks were sluggish again, with Jin Shiyuan and Yingjia Gongjiu falling by more than 1%, and Kweichow Moutai falling by more than 1% and approaching its previous low again.

Editor: Xiaomo

Audit: Wooden Fish

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