the shanghai composite index fell below 2,700 points, and more than 4,700 stocks in the entire market fell. what will happen in the future?
2024-09-18
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on september 18, the shanghai composite index fell below 2,700 points in the afternoon, the shenzhen component index fell 0.7%, and the chinext index fell 0.6%.
wind data showed that more than 4,700 stocks fell across the market.
in terms of sectors, sora concept, consumer electronics, cloud gaming, and building decoration sectors saw the largest declines.
how will the market perform in the future?
citic securities believes that from the perspective of the market bottoming out, central huijin has continued to reduce the scale of its purchases of stock etfs in the past two weeks. the reduction in "bottoming" capital inflows may accelerate the progress of stock prices fully reflecting market expectations and sentiments, shortening the bottoming out period of a-shares. from the perspective of allocation strategy, in an environment where economic fundamentals are still weak and long-term government bond interest rates continue to decline, the bottom position value of dividends still exists, but in terms of structure, it is necessary to avoid varieties with fundamental volatility risks.
everbright securities said that historically, the market usually turns around after a decline in volume. in the short term, we can pay attention to opportunities for resonance between policies and economic data. if future policies are further strengthened and improved, economic data will improve marginally, market sentiment may improve, and a-shares are expected to rebound. however, from a historical perspective, the mid-term bottom of the market usually requires a significant change in fundamental expectations.
bohai securities believes that the market is still in the bottoming stage. looking ahead, with the start of overseas interest rate cuts, the market liquidity environment will see a change. in terms of industry allocation, we can focus on: thematic investment opportunities in the tmt sector under the catalysis of ai models; and policy bargaining opportunities in the home appliances and social service industries under the expectation of incremental policies.
ping an securities said that the current a-share valuation is at a historically low level, and it is important to pay attention to the marginal changes in positive factors. the loosening of overseas liquidity has further opened up domestic easing space. the merger and reorganization of the a-share market has gradually entered an active period, and the merger and acquisition of hard technology companies and the professional integration of central state-owned enterprises have continued to advance. in terms of structure, it is recommended to continue to pay attention to the direction of long-term policy support and active industry catalysis, such as new quality productivity representing growth style (tmt, power equipment, national defense and military industry, mechanical equipment, etc.), high-end manufacturing, and investment opportunities related to state-owned enterprise reform.
(this article comes from china business network)
