As of 15:00, the net outflow of funds from the North was 4.025 billion yuan, that of Shanghai Stock connect was 848 million yuan, and that of Shenzhen Stock connect was 3.177 billion yuan.
CITIC Securities research paper pointed out that after mid November, inter-bank liquidity showed a gradual easing trend. It is expected that the short-term liquidity pressure in December will be more concentrated at specific time points, but the price of certificates of deposit may still be relatively high, supporting the value of interest rate bonds allocation. Although the market is concerned about fundamental factors, the loose superposition of short-end liquidity will bring about a turning point in credit supply next year, which provides a good opportunity for early allocation of bonds. Considering the current loose short end liquidity environment, we believe that the early layout of the interest rate bond market will lay a good foundation for next year.
Huatai Securities issued a paper saying that Yihan data showed that the monthly sales amount of the top 100 real estate enterprises in November increased by 0.6% month on month, 22.7% year-on-year, and the accumulated sales amount from January to November increased by 10.2% year-on-year, and the year-on-year growth rate was 1.5pct higher than that in January October. Under the dual pressure of sales target and three red lines, the real estate enterprises continued to increase their sales promotion and marketing efforts at the end of the year, improve supply and maintain the sales toughness of the top 100. The market will turn from the past pursuit of explosion to real estate enterprises with sustainable and healthy development ability, and are optimistic about the value reconstruction opportunities of high-quality real estate enterprises.
According to CICC, the aerospace science and technology industry is expected to enter a structured high-speed growth stage in 2021. As the opening year of the 14th five year plan, 2021 will open a new procurement cycle to drive up the demand of the industry. The increase of equipment is the supply cycle. The expansion of production of many enterprises shows the changes in the supply side. The superposition of three cycles is expected to push the industry into the high growth stage of supply and demand resonance. It is suggested that investors should pay attention to the two main lines of aviation equipment and guidance equipment industry chain, and grasp the two tracks of informatization and new materials.