From the perspective of the panel, the performance of theme stocks was eye-catching, led by online Red live, cloud games, e-sports, cultural media and other sectors, with an increase of more than 4%. In terms of individual stocks, the whole line was generally up, with 3415 stocks in red market, only 280 stocks fell, and 88 stocks closed at the trading limit.
Spring market is slowly unfolding, bullish A shares has become the industry consensus. By combing the views of all parties, the reporter of Securities Daily found that the main driving force to boost the market upward came from four aspects.
First, the central bank decided to cut the reserve ratio of financial institutions by 0.5 percentage points on January 6, 2020.
Secondly, incremental funds from all walks of life come from the source, and funds from the North continue to work. On January 2, the net inflow of capital from Beishang was 11.395 billion yuan, including 5.713 billion yuan from Shanghai Stock connect and 5.682 billion yuan from Shenzhen Stock connect, which has been net inflow for 32 consecutive trading days. It is worth noting that since the opening of the Shanghai Shenzhen Hong Kong stock connect, the accumulated net inflow of capital from Beishang has exceeded 1 trillion yuan, reaching 1003.625 billion yuan.
Third, the launch of the CSI 300 option tool will also enhance the enthusiasm for participation of quantitative funds and long-term funds.
Fourth, the new securities law will be officially implemented, which is generally favored by people in the industry. They agree that the securities market may continue to grow and develop in a more healthy and mature way.
With regard to the large-scale rise of the first show of a shares in 2020, Qin Hong said that the volume of transactions has been gradually enlarged in recent days, which shows that the trend of incremental capital entering into the market is obvious, which shows that market trading sentiment is rising, and high elasticity and high growth stocks are gradually emerging.
Societe Generale Securities believes that looking forward to 2020, the 14th Five-Year plan outlook, the acceleration of opening up and other factors will bring opportunities for the valuation of the stock market. Under the guidance of the Quartet of national attention, resident allocation, institutional allocation and global allocation, the era of real rights and interests in China is expected to open, and a share is experiencing its first long bull opportunity.
In terms of specific allocation, Zhang Yidong, global chief strategy analyst of Societe Generale Securities, pointed out that core assets are still the main line of the market in 2020, but technology stocks and value stocks will be the main players.
Regarding the spring market expected by the market, we should adopt a more peaceful attitude. According to Anxin securities, first of all, the market environment at the beginning of the year is indeed favorable. From the top-down perspective, there are no factors that inhibit the valuation of the stock market. The only clear potential suppression factor is that the peak of the lifting of the ban will come in late January. Secondly, the range of spring market is negatively related to the market growth of the previous year. Due to the overall market growth in 2019 and no obvious adjustment at the end of the year, the market also has certain expectations for the positive environment at the beginning of this year, including the implementation of the central banks reduction of reserve. If the market shows a high expectation of the economy at the beginning of the year, it may be necessary to gradually start to add a little caution in the future to prevent the late spring cold in the future.
Source: responsible editor of Securities Daily: Yang qian_nf4425