Peripheral Situation: The three major U.S. stock indexes closed up, with the Dow rising more than 180 points. As of closing: Dow rose 0.7% to 26346.01, S&P 500 rose 0.91% to 2919.4, and Nasdaq rose 1.02% to 7903.74. Most tech stocks ended up, with Apple up 1.17%, Amazon up 0.97%, NaiFei down 1.18%, Google up 1.03%, Facebook up 1.18%, Microsoft up 1.89%. Tiger Securities rose by more than 3% in Zhongzhou Stock Exchange and by more than 2% in Station B, Alibaba and Jingdong Stock Exchange.
News: 1. Chairman of the Securities Regulatory Commission Yi Huiman: Fully promote the reform and development of Shenzhens capital market and achieve phased results as soon as possible. 2. Wang Weizhong, Secretary of the Shenzhen Municipal Committee: I hope that the SFC will speed up the improvement of the GEM listing, refinancing and merger and acquisition system. 3. Central Bank refutes rumors: No September M2 data was released yesterday. 4. The State Council issued the Promotion Plan for the Reform of the Income Division between the Central and Local Governments after the Implementation of Greater Tax Reduction and Fee Reduction. 5. Development and Reform Commission: In five years or so, more than 10,000 enterprises of Industry-Education integration have been built and cultivated throughout the country. 6. The National Health Commission officially issued the Catalogue of the First Batch of Encouraging generic drugs. 7. Three scientists shared the Nobel Prize for Chemistry and commended their contributions to lithium-ion batteries.
Shenguang Finance and Economics said that financial stocks represented by banks stepped forward in the adjustment of science and technology stocks, which not only stabilized the index, but also undertook the demand for capital allocation. With regard to the expectation that the excess of bank reserve ratio will require dividends, the market attaches more importance to bank shares. This behavior happens just after some bank shares are transferred to social security. It can be expected that the dividend level of bank shares will remain high in the future, which is a strategic choice for the long-term allocation of conservative funds. The inflow of funds into bank stocks has affected the development of technology stocks to a certain extent, but due to the large scale of funds attracted by technology stocks, the hot spot rotation between these sectors is relatively normal, and there is no significant fund seesaw effect. In the short term, as the progress of trade negotiations still needs to be observed, and macroeconomic data in September still need to be observed, the demand for on-site capital hedging is still there, and the activity of bank stocks can be maintained.