transactions in shanghai and shenzhen stock markets exceeded 2.6 trillion yuan! over 5,300 stocks rose, with brokerage firms and real estate sectors pulling up strongly.
2024-09-30
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according to news from red star capital bureau on september 30, a-shares were all red today, with trading volume rising sharply. as of the close, the shanghai stock exchange index stood at 3,300 points, up more than 8%; the shenzhen component index exceeded the 10,000-point mark, up more than 10%; the chinext index tumbled sharply during the session, up more than 15%.
in addition, at the close of trading today, the turnover of the shanghai and shenzhen stock markets exceeded 2.6 trillion yuan, which was more than 1.1 trillion yuan compared with the previous day. more than 5,300 stocks in the market rose, and only 8 stocks fell.
today's a-share trading volume exceeded the trillion mark in less than 35 minutes after the opening of trading, setting a new record for the fastest trillion in history. this is the fourth consecutive trading day for a-shares to exceed 1 trillion yuan.
the brokerage sector is almost at daily limit across the board
at the opening today, the major a-share indexes opened higher, with the shanghai composite index rising by 3.47%, the shenzhen composite index rising by 4.58%, and the chinext index rising by 5.77%. among them, the a-share securities sector opened higher, with oriental fortune opening higher by more than 15%, and bank of china securities, tianfeng securities, guohai securities, citic securities, guolian securities, and cinda securities all opened at their daily limit.
in terms of news, it is reported that the market has surged in the past few days, and investors are enthusiastic about entering the market. “the sales department is very busy right now.” some front-line people at securities firms reported that the number of new accounts opened in the sales department has surged recently, and customer inquiries such as financial institutions and other financial institutions have also generally increased. in order to cope with the sudden market situation, many front-line staff of securities firms worked overtime and even provided door-to-door services to help customers open accounts, retrieve passwords, etc. many brokerages have reported that the number of newly opened accounts has increased by 50% to 300% recently, and the market sentiment is hot.
some analysts believe that securities firms, as important participants in the financial market, play a crucial role in the start of the bull market. when market expectations heat up, brokerages are often one of the first industries to feel this change.
the continuous rise of the a-share market has stimulated investor enthusiasm, and the number of securities firm account openings has grown rapidly.
this morning, some netizens posted that the market interface of a certain brokerage's app was blank and transactions were unavailable. the customer service said that the trading software crashed due to the large order volume. in addition, many brokerage apps have also experienced similar problems. according to the securities times, the trading software of these brokerages has now returned to normal.
some brokers reported that they have activated emergency backup sites for trading to ensure that the resources and performance of the backup site can meet current needs, while monitoring its stability and response time. in the early stage, securities firms have expanded and optimized the trading system to cope with the sharp increase in trading volume.
there are also reports that the shanghai stock exchange is scheduled to organize a system startup connectivity test after the national day holiday on october 7, 2024 (monday). the test content is: verify that relevant parties can log in to the exchange's bidding, comprehensive industry, new bond, options, fixed income and other trading systems normally, and carry out announcement reception and processing, entrusted declarations, transaction returns, market reception and display and other services.
more than a dozen real estate stocks bid to reach daily limit
in addition, the real estate sector also rose strongly. this morning, more than ten stocks including vanke a, gemdale group, financial street, and overseas chinese town reached their daily limit in bidding.
on the news, the central bank and the state administration of financial supervision issued four financial support real estate policies on september 29, including: a batch reduction in the interest rates on existing mortgage loans for first and second homes, with an expected average decrease of about 0.5 percentage points. commercial personal housing loans no longer distinguish between first and second homes, and the minimum down payment ratio is unified to no less than 15%. for qualified loans issued by financial institutions, the proportion of re-loans issued by the central bank to financial institutions will be increased from 60% to 100% of the loan principal.
on september 29, among the four first-tier cities, shanghai, guangzhou, and shenzhen issued new property market policies overnight to respond to market concerns and boost market confidence. on that day, shanghai took the lead in fully responding to the regulatory authorities' new tone for the development of the real estate industry. six departments jointly issued the "notice on further optimizing policies and measures for the city's real estate market" (hereinafter referred to as the "notice"), which included purchase restriction policies and housing credit policies. , tax policies, etc. have been adjusted, and the "notice" will be effective from october 1, 2024.
subsequently, guangzhou explicitly canceled all purchase restrictions and became the first first-tier city to completely withdraw from the purchase restriction policy. at the same time, shenzhen also optimized the zoning housing purchase restriction policy and adjusted the minimum down payment ratio for the first home to 15%.
on the evening of the 29th, all six major banks issued announcements saying that they were advancing the adjustment of existing mortgage interest rates in an orderly manner. the six banks mentioned in the announcement that they plan to announce specific operational matters on october 12 and implement batch adjustments to existing mortgage interest rates before october 31.
the current market upward trend is still expected to continue
relevant ministries and commissions have recently held intensive meetings and launched a package of favorable policies that exceeded expectations in response to the current problems in the capital market, real estate and economy. from the perspective of policy effects, it has effectively solved the problems of capital market liquidity and real estate stalling.
guotai junan securities pointed out that the fundamentals of the non-bank sector are highly correlated with the capital market and real estate market, and directly benefit from the introduction of a package of favorable policies, and are overall optimistic about the non-bank financial sector.
kaiyuan securities said that the policy combination of stabilizing growth and stabilizing the stock market has exceeded expectations, and market trading volume is expected to continue to increase. superimposed on a low base, it is expected that the performance of listed securities companies in the second half of the year will be significantly improved year-on-year.
looking forward to the market outlook, china merchants securities believes that after this round of index-level rebound, there are several options that can be considered: first, from the perspective of policy catalysis, focus on real estate and real estate chains, and the direction in which government spending may exert force-such as supporting consumption. and major infrastructure projects;
second, from the perspective of industrial trends, focus on the direction of new productivity under the general trend of intelligence, including ai consumer electronics, intelligent driving, intelligent robots and other fields. the space is larger and the view is longer; the new energy field focuses on the relationship between supply and demand of production capacity. gradually balanced segments and solid-state batteries;
third, from the perspective of macro trends, the current fed’s entry into the interest rate cutting cycle is the most important macro factor, which is good for china’s core assets;
fourth, from the perspective of incremental funds, the current csi 300 etf, csi a50 etf, gem etf, science and technology innovation etfs and the soon-to-be-listed csi a500 etf are currently important main incremental funds. these etfs are all sector-specific. the idea of leading is good for the market and the growth of industry leaders.
cicc believes that after the recent rapid rise in the market, it is expected that with the rapid recovery of valuations and short-term profit-making funds, historical experience cannot rule out that the short-term upward slope will slow down or have twists and turns, but combined with policy signals, the process is still emerging. , the current market upward trend is still expected to continue. and from the perspective of some types of funds, such as private equity funds, whose transactions are relatively flexible, the historically low position levels may be a reflection of the position levels of most institutional investors. it is expected that there may still be some funds to be added during this rapid rise. this part funds may become potential long positions in the market.
editor xiao shiqing summarizes information from securities times, xinhua finance, shanghai securities news, etc.
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