Turnover continued to shrink, the index fell 1percent, northward funds fled more than 14 billion this week! Convertible bonds continue to be hot, institutions: callback is the opportunity to get on the train
Net outflow of northward funds for the seventh consecutive day
The three major indexes opened at a low level in the early trading. After the bank stocks started to protect the market, the stock index bottomed out and the Shanghai index fell below the 3300 mark. Since then, some technology stocks rebounded, as well as the strength of liquor stocks, stock index decline narrowed.
In the afternoon, driven by the activity of liquor, power battery and other plates, the decline of the stock index further narrowed; while the venture capital and securities companies plate quickly rose under the influence of news, directly pushing the market close to turning red, and the Shanghai index recovered 3300 points.
By the end of the day, the Shanghai composite index was up 0.38% to 3312.50; the Shenzhen composite index was down 0.53% to 13396.18; the gem index was down 1.00% to 2673.59.
In terms of individual stocks, more than 1400 stocks were red, 17 stocks were trading, and nearly 100 stocks were up more than 5%; nearly 2500 stocks were green, 7 stocks were down, and nearly 80 stocks were down more than 5%.
In terms of capital, the total transaction volume of Shanghai and Shenzhen stock exchanges was 663.7 billion yuan, a decrease of 42.5 billion yuan compared with 706.2 billion yuan of the previous trading day. Among them, 236.4 billion yuan was traded in Shanghai stock market, 10.4 billion yuan less than that of 246.8 billion yuan in the previous trading day, and 427.3 billion yuan in Shenzhen stock market.
The net outflow of northward funds in the morning was unilateral and accelerated in the afternoon. As of 15:00, the net outflow of northward funds was 2.748 billion yuan, which was the net outflow for seven consecutive trading days. Among them, the net outflow of Shanghai Stock connect was 772 million yuan, and that of Shenzhen Stock connect was 197600 yuan.
In the past month, only October 9 and 12 showed a net buying trend. Lugangtong suspended trading tomorrow due to the Double Ninth Festival, and all northbound funds flowed out in four trading days this week, with a cumulative net sales of more than 14 billion yuan.
Liquor sector led gains
On the disk, liquor stocks rose and rose, Laobaigan liquor trading limit, Jinhui liquor rose more than 8%, Yanghe shares rose more than 6%. The stock was once close to the trading limit and reached a new high. Jinzhongjiu and St shede rose more than 5%.
In terms of plate, ant financial concept was strong throughout the day, with Hejing technology trading limit of 20%, yilianzhong, xinkaipu, Lucent technology and Zhengyuan wisdom increased by more than 5%.
Brokerage plate late trading abnormal pull up, founder securities rose nearly 7%, CAITONG securities rose nearly 4%.
Semiconductor plate strength, infight, LianJian photoelectric trading, jucan photoelectric up more than 10%, new Jieneng 10% limit.
The new energy vehicle sector was once again active, with the trading limits for three stocks of Shuanglin, Shida Shenghua and GuoXuan high tech, while that of Shanshan, German nano, founder motor, Tianqi lithium, Ruixin technology and Qianjiang Motorcycle rose by more than 6%.
Biological vaccine sector weakened throughout the day, Kanghua biological fell by more than 10%, Weiming pharmaceutical fell by more than 7%.
In the end of the day, the new shares of registered system decreased by more than 3%, Tongniu information fell by more than 10%, and C Kaixin, C panda, Daye shares, Wansheng intelligent and Jinchun shares fell more than 6%.
Convertible bonds continue to fuse
Nearly 20 convertible bonds temporarily suspended
The end of expectation: the end of investors adjustment
Expected adjustment near the end, this weekend or early next week, a big probability to start the upward rally!
The early market index stabilized near the gap of 3280 points in the early stage. In terms of funds, some funds entered the market to undertake. Todays theme is good. After the opening of the afternoon, there are hot spots for further fermentation, which can continue to resonate with the index. After the recent weight pull up, the theme is making up for the fall, and todays weight is down. The undertaking power of the theme stocks is the strongest, and the market sentiment begins to stabilize and recover. As long as the market is popular, the OTC funds will flow back.
Shanxi Securities believes that this weeks trading volume is small, but the market volatility is large, the main reason is the inflow and outflow of northward funds. At present, the markets views on various themes are weak. From the perspective of the trend and trading volume of each plate, it can not gather enough emotions in the short term, or it will lead to the continuation of the contraction shock. In the short term, it is suggested that investors should not operate blindly, but hold the high-quality bid in the main board and wait for the opportunity. In the short and medium term, the earnings recovery expectations of the disclosed A-share three quarterly reports are consistent, and it will take some time to reflect in the future. In addition, the performance disclosure will bring about structural fluctuation caused by certain expectation difference. The index continues to be optimistic about the medium-term performance of Kechuang 50 index. It is suggested that investors should intervene in its heavyweight stocks on the premise of risk control and wait for its next round of market. In addition, a better macro-economy will provide the driving force for the stock market to continue to rise, and maintain the upward trend of A-share volatility in the medium and long term.
Wanhe Securities believes that the continuous improvement trend of fundamentals remains unchanged, the overall liquidity is good, and the continuous promotion of domestic policies and other positive factors are constantly accumulating, which is good for the market as a whole; however, overseas disturbance factors also have a certain inhibition on the domestic market sentiment, especially the uncertainty of the US election and the second outbreak of overseas epidemic, so the short-term market will continue to shock Swing upward, but not too much. The industry can continue to pay attention to securities companies, consumption, media and new infrastructure.
Yuanda investment consultant said that the current market turnover continued to shrink, and the market capital participation was low, which became the key factor restricting the indexs upward trend. Leading stocks and high-end stocks in the two cities continued to decline. The short-term high point of the index is now, which still needs to be shaken and repaired. Investors still need to wait patiently for the bottom of the band to be clear. At the same time, they should pay attention to the risks of high-end stocks or individual stocks entering the downward trend on the left. Of course, under the background of RMB entering the upward trend and the domestic economy recovering beyond expectations, after the market short-term risks are fully released, there is no need to worry about the medium and long-term trend, short-term shocks or medium-term high-quality individual stock layout opportunities.
Tianxin investment consulting believes that after the market continued to fluctuate on Thursday, the trading volume of each market hit a new low one after another, which has dropped to the level at the end of last year. Generally, the land volume will be the land price. Combined with the current market bond change, it is expected that the rise will not be far in the short term. Comprehensive analysis shows that since the stock index can recover 3300 points, it is true that the markets short-term sentiment has recovered. Short term funds continue to rally popular target, a small number of strong stocks of funds to undertake strong. In terms of operation, we should control the position, continue to focus on the better quality varieties, and gradually participate in and hold patiently through the position control; at the same time, stepping back is still an opportunity for active intervention.
According to Liu Sishan of Rongwei securities, the two events in the next week will have a directional guiding effect on the market by comprehensively judging the market amplitude narrowing and waiting for the direction selection. First, the 14th five year plan will be announced, which will determine the direction of Chinas economic development in the next five years. The second is the IPO of ant financial, which is the largest IPO of the year and represents the strongest competitiveness of Chinas technology. If both exceed market expectations, the market may usher in the next round of breakthrough.
Jufeng investment advisers believe that the A-share volatility near the early pressure is conducive to the development of the market in depth, the large rise and small return of the market shows that the trend is good, and the short-term adjustment is an opportunity for low absorption in the medium term. The central bank proposed macro leverage to serve the real economy. The CSRC said that timely and comprehensive promotion of registration system reform, acceleration of state-owned enterprise reform, domestic economic recovery and RMB appreciation are good for the market formation in the medium and long term. On Wednesday, banks and insurance pulled up, triggering market panic and funds fleeing technology stocks. After that, ant group was registered on the science and technology innovation board, and the market was expected to regain its upward momentum after the giant Mac was listed. Judging from the market performance in the early trading of Thursday, the market was still digesting the bad news. The heavyweights on the gem performed poorly, and the technology stocks adjusted for six consecutive days began to rebound; in the afternoon, liquor rose sharply, and securities companies stopped falling and rebounded, and the market gradually turned warm. It is suggested that investors in the secondary market should pay attention to the stocks with higher than expected performance in the third quarter and the turning upward of business climate, and take the securities business plate as the market vane to pay attention to bargain hunting.
Li Chao of China Securities Regulatory Commission: the conditions for implementing the registration system in the whole market have been gradually met
On October 22, Li Chao, vice chairman of China Securities Regulatory Commission, delivered a speech at the annual meeting of the 2020 Financial Street Forum, setting the tone for the current situation of registration system reform.
He said that at present, the pilot registration system has been steadily promoted, forming a three-step reform layout from the science and technology innovation board to the growth enterprise market, and then to the whole market. At present, the first two steps of reform have been implemented, the market expectations are generally stable, and the reform effect is in line with expectations.
He mentioned some concrete manifestations. For example, for a long time in the past, the market was worried that the supply of new shares under the registration system would divert funds from the stock market. From the perspective of the actual effect of the reform, under the registration system, the efficiency of issuing and listing of enterprises has been significantly improved, and the overall quality of listed companies has also been steadily improved.
In addition, since the implementation of the reform of the science and technology innovation board and the growth enterprise market, there have been changes in the number of breakthroughs and the return of pricing centers, which reflects the markets expectation of a virtuous circle.
The threshold of 500000 yuan of assets and two years of investment experience set by the science and technology innovation board has also played an important role in guiding rational investment and preventing market risks. The supporting implementation of M & A, delisting and other systems is also conducive to improving the efficiency of resource allocation and promoting the survival of the fittest.
Another example is the implementation of the system with information disclosure as the core, which transforms the matters that can be judged by investors into more strict, comprehensive, in-depth and accurate information disclosure requirements. Adhering to the openness and transparency of examination and registration, the examination and registration mechanism of the exchange and the registration of the Securities Regulatory Commission has been established with emphasis on each other, thus giving the right of choice to the market.
At present, it takes an average of about 5 months from the acceptance of an application to the completion of registration, and the efficiency of examination and registration has been significantly improved. Li Chao said.
On the whole, he believes that the registration system has formed a unified consensus on reform. All kinds of market entities have adapted to the registration system reform, the market vitality has been constantly stimulated, the practice of registration system reform has been recognized, the registration system ecosystem has been gradually constructed, all kinds of subjects have obviously strengthened their responsibility, and the concept of market value investment has been significantly enhanced.
The conditions for implementing the registration system in the whole market have been gradually met. Li Chao stated that in the next step, China Securities Regulatory Commission (CSRC) will maintain its determination, step by step, and do a solid and stable job in the reform of the registration system.
He said that the next step to promote the registration system reform has three main considerations: first, we should make preparations for the market registration system reform, deeply summarize the pilot experience, improve the registration system framework in line with Chinas national conditions, and study the scheme for promoting the registration system in the whole market.
The second is to establish a regulatory system conducive to the implementation of the registration system, accelerate the transformation of regulatory functions, strengthen the whole process supervision of intermediary agencies, increase the punishment for violations of laws and regulations, and establish a list of rights and responsibilities system.
Third, we should adhere to the reform of the registration system as the guide, improve the institutional weaknesses, and speed up a more mature and stereotyped basic system of the capital market.
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