the shanghai composite index barely holds 2,700 points, and the concept of state-owned enterprise reform explodes against the trend
2024-09-18
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changsha evening news, changsha on palm, september 18 (all-media reporter zhou congxiao) the market fluctuated and fell throughout the day last friday, with the shanghai composite index approaching 2,700 points, down 0.48%, setting a new low for the period. overall, more stocks fell than rose, and more than 4,000 stocks fell in the entire market. the turnover of the shanghai and shenzhen stock markets was 524.8 billion, an increase of 9.1 billion from the previous trading day. on the market, state-owned enterprise reform concept stocks broke out against the trend, the real estate sector rebounded, mergers and acquisitions concept stocks performed actively, and pension concept stocks moved abnormally in the late trading. in terms of decline, solid-state batteries, huawei hisilicon, liquor, cloud games and other sectors fell the most.
on the news front, the three major u.s. stock indexes closed mixed on tuesday, with the nasdaq up 0.20%, the s&p 500 up 0.03%, hitting a record high during the session, and the dow down 0.04%, also hitting a record high during the session. the market is currently waiting for the fed's interest rate decision. domestically: according to preliminary statistics from the central bank, the cumulative increase in social financing scale in the first eight months of this year was 21.9 trillion yuan, 3.32 trillion yuan less than the same period last year; china's new rmb loans from january to august were 14.43 trillion yuan, estimated at 14.5741 trillion yuan, and the previous value was 13.5232 trillion yuan; at the end of august, the balance of broad money (m2) was 305.05 trillion yuan, a year-on-year increase of 6.3%. data released by the national bureau of statistics showed that in august, the total retail sales of consumer goods was 387.26 billion yuan, a year-on-year increase of 2.1%; the added value of industrial enterprises above designated size in august increased by 4.5% year-on-year; the national urban fixed asset investment in january-august was 3293.85 billion yuan, a year-on-year increase of 3.4%; the national real estate development investment in january-august was 692.84 billion yuan, a year-on-year decrease of 10.2%.
in terms of institutional views, citic securities believes that since september, the inflow of supporting funds has decreased, which has accelerated the stock price to fully reflect market expectations, and the bottoming process is expected to be shortened. before the introduction of incremental policies, it is expected that short-term capital games will still dominate the market, and investors are advised to wait patiently for the turning point signal. first, from the perspective of the changes in the three major signals, in terms of price signals, the core cpi is close to the lowest level in history; in terms of external signals, the federal reserve may start a "risk management" interest rate cut in september. secondly, from the perspective of the market bottoming stage, central huijin has continued to reduce the scale of purchasing stock etfs in the past two weeks. the reduction in the inflow of "supporting" funds may accelerate the progress of stock prices to fully reflect market expectations and sentiment, and shorten the bottoming period of a shares. in terms of allocation, in the environment of continuous downward trend in long-term treasury bond interest rates, the bottom position value of dividends still exists, but in terms of structure, it is necessary to avoid varieties with fundamental volatility risks; at the same time, excellent companies in the overseas sector that have fully reflected the risks of overseas recession and trade frictions have allocation value.
wang zhenhuai, chief analyst of changjiang securities hunan branch, said that on the market, the real estate sector performed actively last friday. according to wind data, domestic real estate developers issued 43 domestic credit bonds in august, raising a total of 40.129 billion yuan, up 55.97% from the previous month. the financing environment for domestic real estate companies is improving marginally. with the expectation of us interest rate cuts rising and the downward space for domestic interest rates opening up, it is expected to improve the selling pressure of second-hand houses, marginally improve the supply and demand relationship in the second-hand housing market, and promote the stabilization of the property market. in terms of market conditions, the market continued to bottom out weakly last friday. the shanghai composite index relied on the strength of heavyweight sectors such as dividends and large finance to hold the 2,700 point mark. views are for reference only. the market is risky and investment should be cautious.
