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reporter of china business network: xiao ruidong editor of china business network: zhao yun

on september 12, the market rose and fell throughout the day, and the three major indexes all closed down. as of the close, the shanghai composite index fell 0.17%, the shenzhen component index fell 0.63%, and the chinext index fell 0.42%.

in terms of sectors, hainan free trade zone, huawei kunpeng, digital finance and taxation, insurance and other sectors had the largest gains, while liquor, humanoid robots, pharmaceutical commerce, ai glasses and other sectors had the largest losses.

overall, more stocks fell than rose, with more than 3,100 stocks falling in the market. the turnover of the shanghai and shenzhen stock markets today was 515.6 billion, an increase of 16 billion from the previous trading day.

the mid-autumn festival is approaching. under the influence of the pre-holiday effect and the "cash withdrawal day", the trading volume of a-shares this week has basically stabilized at a "low volume" level of around 510 billion yuan.

judging from the trend of wind a-shares, despite the continuous low volume, the market has been relatively stable in the past few days, and the indexes have closed at roughly the same point after intraday fluctuations. the performance of individual stocks, especially small-cap stocks, is relatively active.

unfortunately, from this afternoon until the end of the trading day, there was not much buying volume for broad-based etfs as a whole. the "pulling up at the end of the trading day" phenomenon of the previous two trading days was absent, and both the index and individual stocks weakened slightly during this period.

however, there are still optimists who believe that the market currently seems to be "unable to fall", and therefore speculate that a mid-term bottom has been formed here, and small-cap stocks may start a more violent rebound at any time.

of course, a rebound will only count if it comes out step by step. before the post-holiday market starts, all parties in the market still have a lot of time to play games and ferment. let's review today's market first.

hainan free trade concept leads the rise significantly

shortly after the market opened in the morning, the "hainan free trade zone" concept rose sharply and led the market until the close.

except for hainan,flushthe data also showed that of the eight stocks with the word "hainan" in their names, seven closed higher, including the highest five consecutive boards among the current stocks.hainan haiyao。

in terms of news, there are two main catalysts, namely, free trade, medicine, tourism, etc. are all beneficial.

first, according to the official website of the ministry of finance, five departments including the ministry of finance, the national health commission, the general administration of customs, the state administration of taxation, and the national medical products administration recently issued the "notice on the "zero tariff" policy for drugs and medical devices in the hainan free trade port" (hereinafter referred to as the "notice").

the notice states that before the whole island is sealed off, medical institutions, medical colleges and universities, and medical research institutes registered and accredited as independent legal entities in the hainan boao lecheng international medical tourism pilot zone can be exempted from import tariffs and import value-added tax if they import drugs and medical devices specified in article 3 of the notice and use them in accordance with the provisions of this policy. relevant units that meet the conditions for enjoying the policy and import drugs and medical devices and voluntarily pay the import value-added tax can apply for tax reduction and exemption when handling tax exemption procedures.

second, as the visa-free "circle of friends" of hainan free trade port continues to expand, hainan's tourism market has ushered in a new round of "cross-border travel" boom this summer. coupled with the 144-hour visa-free policy for foreign tourist groups from hong kong and macao to enter hainan, the number of inbound and outbound passengers at hainan's airport ports has kept pace with the growth.

the latest statistics from haikou customs show that during this summer (july 1 to august 31), hainan airport port supervised a total of 2,786 inbound and outbound flights and more than 361,000 passengers, an increase of 1.5 times and 1.2 times year-on-year respectively (the same below), setting a historical record. from january to august this year, a total of 9,904 inbound and outbound flights and 1.353 million passengers were supervised, an increase of 2.5 times and 3.6 times respectively.

in terms of import and export trade, in the first eight months of 2024, hainan's import and export of goods reached 184.63 billion yuan, an increase of 21.6% over the same period last year. among them, exports were 71.51 billion yuan, an increase of 42.6%; imports were 113.12 billion yuan, an increase of 11.3%.

guoyuan securitiesit is stated that hainan free trade port is benchmarked against the world's highest level of openness, and the first phase is characterized by "zero tariffs, low tax rates, simple tax system, and free and convenient trade and investment". hainan's locational attractiveness has increased, which will attract more domestic and international personnel and goods. it is expected that hainan's conventional retail and offshore duty-free will benefit together, and the scale of hainan's offshore duty-free is expected to reach 80 billion to 90 billion yuan by 2026.

huawei's industrial chain continues to be active, and the information technology sector is strong

in addition to the stocks that rose due to "hainan" related factors, the "hua-content" of stocks on today's gaining list was also relatively high, such as huawei ora, huawei kunpeng, huawei ascend, etc., which all strengthened near the morning closing.

in addition to the three-fold mobile phones that have been discussed a lot recently, this year is also a key year for the construction of the harmonyos native application ecosystem. more and more mobile phone applications are being applied to the harmonyos native operating system.

statistics released by counterpoint show that in the first quarter of 2024, hongmeng os's share of the global market reached more than 4%. in the chinese market, hongmeng os's market share surpassed ios for the first time, becoming the second largest operating system, thanks to the strong sales performance of huawei's flagship products.

at the same time, today, many branches of the information and innovation sectors, such as electronic id cards, smart government affairs, and cloud offices, also performed well. many stocks in the above sectors also have huawei-related concepts.

recently, the outlook news weekly, sponsored by xinhua news agency, published an article stating that new trends and new ecology in china's ict sector are gradually taking shape. in recent years, my country has vigorously supported the development of its own ict industry and promoted the localization of key technologies, and local companies have gradually increased their share of the domestic market.

"in the long run, when my country's independent information technology industry system matures, it will go abroad and into the world like the new energy vehicle industry chain today, with the whole system going overseas."

kweichow moutai and the liquor sector both hit new lows

as of the close, the former "stock king"kweichow moutaithe stock price fell by 3.26% to a low of 1,334.91 yuan, hitting a new low since mid-november 2022.

the liquor sector also fell overall, with the index falling by more than 2%, hitting a new low since june 2020, becoming one of the important factors restricting the market's rebound.

on the news front, according to media research, wine merchants in many provinces and cities in china reported that sales were "not very good" and "this year is the slowest in recent years."

everbright securitiesthe research report stated that the slowdown (in the second quarter, wine companies took the initiative to adjust and ease channel pressure) is expected to gradually release financial statement risks. at the same time, leading wine companies attach importance to cash dividends and capital returns, and have a high cost-effectiveness from the perspective of dividend yield.

soochow securitiesit points out that the main line of the food and beverage investment strategy in 2024 is low-valuation, high-quality, deterministic growth and high dividend yields, and the auxiliary line is business improvement, focusing on the continued increase in stabilization policies and changes in risk preferences. under the neutral assumption, 2024 will still have volatility similar to 2022, and it is more rational to deploy at a low level. in the medium and long term, we are optimistic about targets with strong fundamentals and increased market share in liquor, and we are also optimistic about dividend yield varieties supported by cash flow. in the short term, the layout before the peak season is expected to have more advantages than disadvantages, and the recognition of long-term value.

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