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on september 26, the shanghai composite index regained the 3,000-point mark in late trading, rising more than 100 points in a single day. as of the close, the shanghai composite index rose 3.61%, and the shenzhen component index and the chinext index rose more than 4%. more than 5,100 stocks rose in the entire market. the turnover of the shanghai and shenzhen stock markets exceeded one trillion yuan for two consecutive trading days.

in terms of sectors, the liquor sector exploded, with more than ten stocks such as wuliangye hitting the daily limit, and kweichow moutai regaining the 1,500 yuan mark. the real estate sector saw a daily limit surge, with many stocks such as vanke a, greenland holdings, and sunshine holdings hitting the daily limit.

according to xinhua news agency, the political bureau of the cpc central committee held a meeting on september 26 to analyze and study the current economic situation and deploy the next steps in economic work.

the meeting stressed that we should increase the counter-cyclical adjustment of fiscal and monetary policies, ensure necessary fiscal expenditures, and do a good job in the "three guarantees" at the grassroots level. we should issue and use long-term special national bonds and local government special bonds to better play the role of government investment in driving development. we should lower the deposit reserve ratio and implement a strong interest rate cut. we should promote the real estate market to stop falling and stabilize.

the meeting stressed that efforts should be made to boost the capital market, vigorously guide medium- and long-term funds into the market, and clear the bottlenecks for social security, insurance, and financial management funds to enter the market. it is necessary to support mergers and acquisitions of listed companies, steadily advance the reform of public funds, and study and introduce policy measures to protect small and medium-sized investors.

institutions say the rebound is expected to continue

chen guo, chief strategy analyst at citic securities, said that today's meeting sent a strong signal of full efforts to revitalize the economy, and also specifically mentioned efforts to boost the capital market, which is encouraging and has double benefits for the stock market in terms of earnings and valuation. the trend of a-shares and hong kong stocks is expected to rise to a higher level. looking ahead to the future market, the judgment that the main indexes of the a-share market are expected to challenge the high point of the year in may is maintained.

cicc said that judging from the performance of the a-share market, after experiencing a volatile correction in late may, the sentiment of the a-share market has rebounded significantly in the past two trading days, boosted by the state council's package of policies to stabilize growth, the market and expectations. the market performance may have twists and turns after a short-term surge, but the rebound is still expected to continue. positive policies help boost investor confidence. at present, a-shares also show obvious bottoming characteristics in terms of technical indicators such as trading volume, turnover rate, capital, and valuation. in terms of allocation, combined with market value management requirements, it is recommended to pay attention to the relative performance of oversold and net-negative high-quality companies.

caixin securities stated that the a-share market's rebound trend has been basically established in the short term, but whether it will reverse still needs to observe the effects of subsequent policy implementation and market performance. in terms of direction, we can actively pay attention to the large-cap blue-chip weighted stocks that benefit from the entry of medium- and long-term funds into the market, such as the mid-cap stocks, state-owned enterprise reform and dividends. in terms of sectors, we can focus on the securities sector that benefits from the warming of the stock market.

everbright securities believes that after a continuous rapid rebound, the shanghai composite index has been away from the bottom, the "double bottom" has been formed, and the index trend has been upward; but considering the rapid short-term rebound and large profit-taking, the market may fluctuate in the future; on the whole, the index is expected to fluctuate upward.

(source: china business news)

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