Science and technology innovation board fell 7%, gem fell more than 6%
Sino US relations are a little tense. Today, a shares opened low and went low. In the plate trading, finance, wine making, medicine and other plates dragged down sharply.
In the afternoon, the money loss effect continued to expand. There were less than 300 floating red stocks in the two markets, with nearly 100 shares falling. More than 30 shares on the science and technology innovation board fell by more than 10%.
On the plate, the themes of the two cities were all flamed out, only military stocks rose against the trend. However, in the late session, the collective diving made up for the decline, and the early strong plates such as securities, tax-free, semiconductor, medicine and medical treatment all fell sharply. On the whole, the themes were all green, and the decline of securities, tax-free, semiconductor and other sectors ranked first.
By the end of the day, the Shanghai composite index lost 3200 points, down 3.86% to 3196.82 points, Shenzhen composite index fell 5.31% to 13935.7 points, and gem index fell 6.14% to 2627.84 points. Kechuang 50 index fell 6.73%. The total transaction volume of the two cities reached 1.33 trillion yuan, breaking through trillion yuan for the 17th consecutive trading day.
Wind data showed that the actual net sales of northbound funds were 16.357 billion yuan. Among them, Shanghai Stock connect net sold 9.3 billion yuan.
The fund gentleman roughly calculated that the market value of a shares has evaporated by about 3.3 trillion today. According to the account opening of 160 million households, the per capita loss is about 20000.
Todays fund issuance market will also usher in the first batch of science and technology innovation board funds competing with Taiwan, including e fund, Boshi, Fuguo, Wanjia, Nanfang and huitianfu. According to the prospectus, the investment portfolio proportion of the first batch of science and technology innovation board funds is: during the closed period, the proportion of fund stock assets to fund assets is 60% - 100% (of which, the stock of Hong Kong stock connect does not exceed the stock assets) The proportion of stock assets invested in the science and technology innovation board accounted for no less than 80% of the non cash fund assets.
Why did it plummet today?
Founder strategy analysis said that the market fell due to three reasons.
First, Sino US relations continue to be disturbed, and the incident of closing consulates has been fermenting. With the election approaching, trump has continued to transfer internal contradictions through its relations with China under the pressure of backward opinion polls. Today, foreign capital outflow has exceeded 10 billion yuan;
Second, the peripheral markets fell significantly overnight. The rising unemployment rate intensified the markets worries about the economy. The NASDAQ index fell by more than 2%;
According to Zeng Hao, general manager of Research Department of Huabao fund, the main index of a shares fell sharply today (24 days), mainly due to two aspects:
First, the external risk is rising, which leads to the decrease of risk preference and the large outflow of short-term northbound funds;
Second, after the lifting of the ban on the scientific and technological innovation board, a large number of major shareholders of some companies have reduced their holdings, and a large number of new shares have been listed recently, resulting in the deterioration of micro liquidity.
As for the external risks, we believe that in the early stage of the US election, they will be periodic disturbing factors, but not the most core factor in the market; as for the reduction of holding and the pressure of new shares, we believe that they will continue to be effectively digested in the market with a daily turnover of more than one trillion yuan.
Ministry of Foreign Affairs: staff of the US Consulate General in Chengdu engage in activities inconsistent with their status
China informs us to close Consulate General in Chengdu
Sino US relations have been in turmoil again.
On July 24, foreign ministry spokesman Wang Wenbin said that the current situation between China and the United States is something China does not want to see, and the responsibility lies entirely with the United States. We once again urge the US side to immediately withdraw the relevant wrong decision and create the necessary conditions for the return of bilateral relations to normal. The Chinese side has repeatedly made representations to the relevant personnel of the US Consulate General in Chengdu engaged in activities inconsistent with their identities, and the US side is aware of this. Diplomacy is about reciprocity.
According to the website of the Ministry of foreign affairs, on the morning of July 24, 2020, the Ministry of foreign affairs of China informed the US embassy in China that China had decided to revoke the license for the establishment and operation of the US Consulate General in Chengdu, and put forward specific requirements for the Consulate General to stop all business and activities.
What do you think of the future?
The change of Sino US relations has been a disturbance term since 2018. In the process of this bull market from January 2019 to now, the market has been disturbed in the short term by affecting the market sentiment in stages of risk preference. However, from the perspective of the future, they are all opportunities for layout.
According to Guotai Junans strategic analysis, it is difficult to accurately predict the path of fermentation between China and the United States, but the thinking of taking the domestic big cycle as the main body will gradually take the leading position, and the risk assessment indicators behind China and the United States are going through a downward process. Under the background of financial service entities, the registration system of gem is imminent. The key factors supporting the lower edge of the market are the quarterly upward earnings in the future, the more lasting loose liquidity environment than the market expectation, and the reform expectation of domestic capital market. The current market will turn from the early trend stage to the shock stage. Chip resistance and rapid industry rotation bring about the lack of foundation for bottom-up breakthrough. The weakening of market profit-making effect and reflexivity make incremental funds slow down, and breakthrough in the upper edge needs to wait.
Zhang Qiyao of Guosheng strategy believes that the recent multiple factors have led to market volatility adjustment, but we believe that the shocks are short-term and there is no systematic risk in the market.
Once again, it is easy not to adjust this year, and adjustment is an opportunity. The core is the abundant liquidity of the stock market and the continuous entry of institutional increment. Looking back on the performance of a shares this year, we can find that there are few big adjustments. Only when the domestic epidemic hit in February and the overseas financial crisis hit in March, the market made a significant adjustment. It turns out that every extreme fluctuation is an opportunity to increase positions. Since then, whenever the market starts to be cautious, such as the bond market slump at the end of April, the Sino US trade friction and the escalation of the science and technology war in May, the performance of a shares is very resilient. The core reason is: the stock market liquidity is abundant this year, and the incremental capital has entered the market by a large margin. In the second half of the year, including funds, insurance and foreign investment, it is still expected to bring trillions of funds to the market, which has become an important cornerstone of the market and the most important reason for us to remain optimistic. Therefore, even if the index fluctuates in the short term, the opportunities far outweigh the risks under the certainty of large inflow of incremental funds.
China Southern Fund believes that in the short term, the market is facing certain vulnerability after the previous sharp rise. Recently, after the lifting of the ban on the first batch of listed companies on the science and technology innovation board, some companies issued the announcement of reducing their holdings. China announced the closure of the US Consulate General in Chengdu, in order to counter the US request to close the Chinese Consulate General in Houston. A series of events have a certain impact on the market sentiment Now for the market trading volume began to decline, capital inflow began to slow down, the market as a whole into a state of shock. However, in the medium and long term, the trend of quarterly improvement of domestic economy and corporate profits in the next few quarters may not change. At the initial stage of economic recovery, it is expected that the overall monetary environment will remain loose. From the perspective of global asset allocation, under the background that Chinas anti epidemic effect is leading the world, Chinas equity market has great attraction, and the long-term trend of foreign capital flowing into a shares is strong. We remain optimistic about the market in the medium and long term, and investors need not be too pessimistic when there are large fluctuations in the market.
Bodao Fund believes that at present, the foundation supporting the continuous sharp rise of the market is not solid, because with the marginal improvement of the real economy, the most relaxed period of monetary policy in the year has passed, and the monetary policy in the second half of the year will enter the observation period, the loose pace will obviously slow down, and the operation of reducing the reserve rate and interest rate will be more cautious. Therefore, looking forward to the future, we believe that the probability of A-share market to maintain volatility in the third quarter is large. However, in the medium and long term, short-term events will not change the operation trend of the market. After the market price performance ratio is restored, investors will usher in a better boarding opportunity. For long-term investors, they can not pay too much attention to the market volatility during the period.
According to the analysis of Huabao fund, the short-term market has risen too fast, which has accumulated the risk of callback. However, the foundation of the markets medium and long-term strength is still relatively solid: first, the economy continues to recover from the bottom; second, the liquidity environment is still relatively loose; third, overseas funds and residents financing funds have been accelerated into the market; fourth, the capital market reform has improved the medium and long-term risk preference.
Nord Fund believes that the current position, short-term market volatility may further increase, and funds with more floating profits in the early stage may also have cash demand, or it is a process of time for space. However, in the medium and long term, with the practice of technological innovation superimposed, the demand for internal circulation will boost, and the structural market may continue. Deppon Fund believes that market adjustment is better than future adjustment. From the perspective of large economic cycle, the market is now in the stage of going up from the bottom. Appropriate market correction is conducive to risk release and accumulate momentum for medium and long-term upward. During the disclosure period of the interim report, the market may enter the horizontal trading period to digest and reflect the changes of enterprise fundamentals and find new attack direction. But the overall future market will be more balanced than the first half of the year. Xingshi investment believes that this black swan event may cause certain disturbance to the short-term market, but it will not change the long-term positive trend of the market: in the medium term, the market will enter the performance verification period, and the enterprises with real performance support may enjoy the dual drive of performance and valuation. Source: China fund daily, author: Taylor, Wu Yu, editor in charge: Zhong Qiming_ NF5619
Nord Fund believes that the current position, short-term market volatility may further increase, and funds with more floating profits in the early stage may also have cash demand, or it is a process of time for space. However, in the medium and long term, with the practice of technological innovation superimposed, the demand for internal circulation will boost, and the structural market may continue.
Xingshi investment believes that this black swan event may cause certain disturbance to the short-term market, but it will not change the long-term positive trend of the market: in the medium term, the market will enter the performance verification period, and the enterprises with real performance support may enjoy the dual drive of performance and valuation.