Early Review: The Shanghai Index opened slightly lower than 0.04percent and the digital currency sector strengthened

category:Finance
 Early Review: The Shanghai Index opened slightly lower than 0.04percent and the digital currency sector strengthened


Shanxi Securities: Short-term performance advance will be the focus of the market, performance will be the key to determine the follow-up trend of individual stocks, intra-plate differentiation may become a more common phenomenon in the latter stage. On the plate side, the real estate, cement, hydropower and other plates deserve attention. In September, the sales data of mainstream real estate companies exceeded expectations. Previously, under the pressure of policy, the real estate sector was too pessimistic. Whether horizontally or vertically, real estate valuation has greater advantages. And from the high-frequency data, the performance of the real estate sector is better and the certainty is higher. In line with the current market preferences. Electricity and building materials are the same logic, with lower valuation and better performance certainty, which deserves attention.

Dongguan Securities: Wednesday, the market opened low and went high, continuing the trend of warming up. Most of the stocks closed up, while the real estate, banking, non-ferrous and other cyclical sectors rose more, and technology stocks also rebounded. Although the trend of the peripheral market is weak, but the market closed two Lianyang, strong performance, thanks to market expectations for a small stabilization of the economy, trading volume remains shrinking, there is still a wait-and-see mood. However, with the gradual recovery of market confidence and moderate recovery of economic data, the market is expected to gradually shake and stabilize. Operationally, it is recommended to pay attention to financial, infrastructure, consumption, TMT and other sectors.

Shanghai Securities: October has entered the validation period of the three-quarter report, and the main contradictions in the market are returned by denominators. From the denominator point of view, the big stage of economic recession and policy progress remains unchanged, but the marginal imagination space is insufficient. The central bank is not anxious to cut MLF interest rate, or waiting for the LPR to add a point to slow down. The Politburo meeting at the end of October set the tone for the next round of macro-policy. Overseas, the European Central Bank and the Federal Reserve have cut interest rates successively in September, and it is difficult to exceed expectations for easing in the short term. In addition, the thirteenth round of high-level economic and trade consultation between China and the United States will be held in mid-early October, and the uncertainty is still high. Market risk preference declined, short-term profit-making effect contracted, and the probability continued to adjust.

Shenguang Finance and Economics: 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. Source of this article: Netease Financial Responsibility Editor: Yang Qian_NF4425

Shenguang Finance and Economics: 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.