Affected by the changes in the situation in Russia and Ukraine and the decline in global stock markets, China's financial market fluctuated significantly on the 22nd. The three major A-share indexes opened low and went low. The gem index once fell more than 2% in early trading. Hotels, restaurants, Internet, Baijiu, airports, home appliances and other sectors fell more than 2%, gold, oil, non-ferrous metals, gas heating, coal mining and other resource sectors strong, NFT concept, cloud games, COVID-19 drug concept, intellectual property, Baijiu concept, Yuan universe and other subjects fell. Covid-19 drug concept stocks, one of the hottest topics in the near future, fell significantly, and the leading Aba Chemicals Corporation(300261) , Hybio Pharmaceutical Co.Ltd(300199) , Andon Health Co.Ltd(002432) fell sharply.
As of the close, the Shanghai Composite Index fell 0.96% to 3457.15 points, with a turnover of 387.7 billion yuan; The Shenzhen composite index fell 1.29% to 13297.11 points, with a turnover of 590.6 billion yuan; The gem index fell 1.38% to 2765.91 points, with a turnover of 235.1 billion yuan.
In terms of northbound funds, based on the daily quota balance, northbound funds had a net outflow of more than 3.6 billion yuan as of the closing of a shares; Based on the transaction volume, the net sales of northbound funds exceeded 7.3 billion yuan.
the situation in Russia and Ukraine changed suddenly, and the Asia Pacific stock market closed down
Russian President Vladimir Putin signed an order on the evening of the 21st to recognize the "Donetsk people's Republic" and "Lugansk people's Republic" in eastern Ukraine. The international community is deeply concerned about the situation in Russia and Ukraine. UN Secretary General Guterres urged all parties to give priority to diplomatic activities and peacefully solve the problem in eastern Ukraine.
Affected by this news, the VIX panic index futures rose more than 5.5% in the morning of the 22nd, and the Asia Pacific stock market weakened across the board.
As of press time, the Nikkei 225 index closed down 1.7% to 26449.61 points; Japan's eastern composite index fell 1.5% to 1881.08. South Korea composite index fell 1.35% to 2707 points; Australia's S & P / ASX 200 index closed down 1%.
In terms of European and American markets, on the 21st local time, the European Stoxx 600 index closed down 1.30%; Germany's DAX 30 index closed down 2.07%; France CAC 40 index closed down 2.04%; The FTSE 100 index closed down 0.39%. The Russian stock market fell sharply. The Russian MOEX index fell more than 15% and the Russian trading system index (RTs) fell more than 17%.
On the 22nd, following the decline of the previous trading day, the Russian stock index opened sharply lower. The Russian RTS index fell by 10% and the Russian MOEX index fell by more than 8%; European Stoxx 50 index futures fell 2%, and MSCI Emerging Markets Eastern European stock index fell more than 6%.
most commodities rose
Affected by the situation, global investors' risk aversion increased, and international oil prices rose sharply on the 21st. Brent crude oil futures in April closed up $1.85, or 1.98%, to $95.39/barrel. Gold also rose to an eight month high.
On the 22nd, China's commodity futures closed, led by energy and chemical industry. Fuel oil rose by more than 7%, asphalt rose by more than 6%, crude oil rose by more than 5%, Lu rose by more than 4%, Douer and PTA rose by more than 3%, Zheng you and LPG rose by more than 2%, Shanghai aluminum and soda ash rose by more than 1%, and corn and coke rose slightly; NR and pigs fell by more than 2%, ferrosilicon and hot coil fell by more than 1%, and PVC and iron ore fell slightly.
In the international market, European natural gas soared by 13%.
institutional perspective
China International Capital Corporation Limited(601995) the latest strategy report points out that by combing the more typical local conflicts since the 1990s, especially the global asset prices related to the United States and Russia, such as the Crimea crisis in 2014, it is found that in the short term, without exception, the outbreak of geographical conflicts will suppress risk appetite in the short term, resulting in the benefit of hedging assets and the damage of risky assets. In response, China International Capital Corporation Limited(601995) analysis, from the perspective of asset hedging and in view of the current uncertainty, it is considered that the traditional hedging assets (VIX Index > US Treasury bonds > Japanese treasury bonds > yen > gold; and the defensive sector in the stock market) and VIX volatility index (it is necessary to close the position in time after making profits, which is not suitable for long-term holding, otherwise it will be dragged down by it), And the crude oil that may benefit from the supply premium may have a certain hedging effect.
Jufeng investment adviser said that the sharp decline and concerns in the short-term overseas market accelerated the speed and range of the index's second return, but did not affect the overall positive trend of a shares. At present, the market policy bottom is obvious under the tone of steady growth. With the opening of the easing cycle, the liquidity has increased steadily, and the capital bottom has also boosted the market. Although the mood is low, it has rebounded compared with the previous continuous adjustment. There is no absolute bad in the market, and the overall downward space is limited.
