On July 8, A shares fell sharply and the Shanghai and Shenzhen stock markets tumbled. The two stock indices dived after opening low, falling more than 3% in early trading, and the Shanghai index failed to keep 3000 points; they maintained a low level in the afternoon.
Based on the Wandequan A Index, data statistics show that on July 8, the total market value of all A-index components was 59.24 trillion yuan, which evaporated 1.6 trillion yuan compared with 60.84 trillion yuan in the previous trading day.
On the disk, the major plates are collectively green. Among the 28 first-class industry indexes of Shenwan, only agriculture, forestry, animal husbandry and fishery rose slightly; communications and computers suffered a severe setback, with a decline of more than 4%; non-ferrous metals, media, automobiles, mining, electrical equipment and other declines ranked first.
The chicken industry, pig industry, soybeans, biological breeding and anti tariff concepts are booming. Chinas international imports, intellectual property rights, sapphires, satellite navigation, fuel cells, operating systems, autonomous control and other subjects are at the top.
Multiple factors lead to setbacks
Yang Delong, former chief economist of Shanghai Open Source Fund, also told the International Finance Daily: Todays market has fallen sharply. First, there are fears that 21 new shares will be issued by Kechuang Stock Exchange this week, which will divert funds from the market. Second, there is downward pressure on economic data. Third, there are still market fears, even if uncertainties are eliminated. But it will take time for confidence to recover.
On July 8, the total turnover of the two cities was 468.2 billion yuan, which was close to 100 billion yuan compared with the previous trading day, but the northward capital showed a net outflow. According to the data of the Hong Kong Stock Exchange, the net outflow of Shanghai Stock Exchange is 2.615 billion yuan, and that of Shenzhen Stock Exchange is 9.9 billion yuan, totaling 3.605 billion yuan.
Buna Xin, an independent financial commentator, told the International Finance Daily that todays market worries come not only from the diversion of scientific innovation, but also mainly from two aspects: first, the expectations are still unclear, and the mid-term reports of listed companies are approaching. Secondly, A shares have been increasingly affected by the international market, and the Hang Seng Index is not performing well today. Hong Kong shares have even experienced a stock crash.
Consumption technology goes hand in hand
Looking forward to the future market, Guoxin Securities said that in the short-term market there is support and resistance, and the stock index is mainly fluctuating in a narrow range. With the approaching of the disclosure of the mid-term report and the change of market capital preference, it is advisable to stick to the concept of value investment strategically, with emphasis on the target of low valuation, abundant cash flow and relatively high performance certainty.
Liu Qihao, an analyst of Shanghai Securities Strategy, told the International Finance Daily that the core factor affecting the market is still the expectation of the economic trend, and it is difficult for the market to have a big opportunity without a clear bottom signal in the economy.
In July, whether the market cuts interest rates or not has a very big impact. The stock market itself belongs to the interest rate sensitive market, and the future market will continue to maintain the trend of interval volatility. Guo Shiliang, an independent financial commentator, said in an interview with the International Finance Daily: At present, below 2850 points belongs to the low-risk area, near 3050 points belongs to the area with strong market pressure. Between the upper and lower gaps, the market still needs to wait for a breakthrough in direction selection.