The stock surged and fell, the contraction rebounded, and the individual stocks rose generally.
Affected by the news of external markets, A-Shares opened sharply higher on February 25, showing a trend of rising and falling in early trading. The Shanghai index rose 1.46% and the record index rose 3.53%. In the afternoon, Shanghai and Shenzhen stock markets maintained the trend of high volatility.
By the closing on February 25, the Shanghai Composite Index rose 0.63% to 3451.41 points; The Kechuang 50 index rose 2.13% to 1240.88 points; The Shenzhen Composite Index rose 1.21% to 13412.92 points; The gem index rose 2.58% to 2855.8 points.
So far this week, the Shanghai Composite Index fell 1.13%, the Kechuang 50 index rose 3.03%, the Shenzhen Component Index fell 0.35% and the gem index rose 1.03%.
Statistics show that 3377 in the two cities rose, 1184 fell and 158 flat.
On February 25, the total turnover of Shanghai and Shenzhen stock markets was 1018.8 billion yuan, a sharp decrease of 343.9 billion yuan from 1362.7 billion yuan the previous trading day, breaking through 1 trillion yuan for the third consecutive trading day. Among them, the turnover in Shanghai was 441.7 billion yuan, a decrease of 128.1 billion yuan compared with 569.8 billion yuan on the previous trading day, and the turnover in Shenzhen was 577.1 billion yuan.
A total of 77 stocks in Shanghai and Shenzhen rose by more than 9%, and 13 stocks fell by more than 9%.
The total net inflow of northbound funds was 6.384 billion yuan on February 25. Among them, the net inflow of Shanghai Stock connect was 3.322 billion yuan and that of Shenzhen Stock connect was 3.062 billion yuan. So far, the total net outflow of northward funds this week was 6.413 billion yuan.
pharmaceutical stocks take the lead
In the sector, affected by the good news, the pharmaceutical and biological sector took the lead, Guangzhou Wondfo Biotech Co.Ltd(300482) (300482), Chengda Pharmaceutical (301201), Hefu China (603122), Lanzhou Foci Pharmaceutical Co.Ltd(002644) (002644), Guangdong Taiantang Pharmaceutical Co.Ltd(002433) (002433) and other sectors rose by more than 10%, and Guangzhou Kingmed Diagnostics Group Co.Ltd(603882) (603882), Topchoice Medical Co.Inc(600763) (600763) and other sectors rose by more than 7%.
Steel stocks strengthened, Zhejiang Jiuli Hi-Tech Metals Co.Ltd(002318) (002318), Inner Mongolia Baotou Steel Union Co.Ltd(600010) (600010) rose more than 5%, and Beijing Shougang Co.Ltd(000959) (000959), Zhejiang Kingland Pipeline And Technologies Co.Ltd(002443) (002443), Hang Zhou Iron & Steel Co.Ltd(600126) (600126) rose more than 3%.
Defense industry led the decline in the two markets, with Anhui Greatwall Military Industry Co.Ltd(601606) (601606), Beijing Andawell Science& Technology Co.Ltd(300719) (300719), Aerospace Ch Uav Co.Ltd(002389) (002389), China Harzone Industry Corp.Ltd(300527) (300527) falling by more than 3%.
Bank stocks fluctuated lower, leading the decline. Among them, Bank Of Chengdu Co.Ltd(601838) (601838), Bank Of Hangzhou Co.Ltd(600926) (600926), Industrial Bank Co.Ltd(601166) (601166), Bank Of Ningbo Co.Ltd(002142) (002142), Bank Of Nanjing Co.Ltd(601009) (601009) fell by more than 1%.
Driven by the sharp decline of bulk commodities such as power coal and coking coal, coal stocks plunged in the afternoon, with Jinneng Holding Shanxi Coal Industry Co.Ltd(601001) (601001), Shanxi Coking Coal Energy Group Co.Ltd(000983) (000983), Shanxi Lu’An Environmental Energydev.Co.Ltd(601699) (601699), China Shenhua Energy Company Limited(601088) (601088), Pingdingshan Tianan Coal Mining Co.Ltd(601666) (601666) falling by more than 3%.
the market has reflected a certain safety margin
Galaxy Securities believes that since the high point on December 15, 2021, the Shanghai stock index and gem index have fallen by 6.82% and 20.39%, and the valuation has been adjusted back to the median level of the past 10 years. The trading congestion of the high boom track has improved significantly, and the market has reflected a certain margin of safety. However, the tense situation in Russia and Ukraine, the imminent interest rate hike by the Federal Reserve, and the continuous fermentation of external risks may continue to curb the rebound of market sentiment. Compared with the low-level inflation and low-cost financial environment, China needs to pay attention to the low-level inflation and low-cost financial allocation, which will gradually support the low-level inflation and low-cost financial environment. However, compared with the low-level inflation and low-cost financial environment, it will be unfavorable to the recovery of China’s economy. The main line of the industry is still to focus on the areas that benefit from the national long-term strategic support or the support of short-term stable growth policies.
Guosheng Securities believes that the major indexes have rebounded since they hit a low before the Lantern Festival. The Shanghai index has repeatedly tried to fall near 3500 points, and the gem index hit the 20 day moving average on Thursday, which has also been suppressed. On the whole, the market remains relatively low for box shock. The escalation of peripheral geopolitical conflicts has led to the setback of global risky assets. For A-Shares alone, Thursday’s adjustment is not a fundamental problem. This event may make the market’s short-term sentiment cautious, but it also reflects a certain resilience compared with the global market. From the historical experience of the resumption of trading, the upgrading of overseas geopolitical risks will affect China’s stock market in the short term, but the medium-term sustainability is generally not strong. It is suggested to pay attention to large infrastructure sectors related to the main line of steady growth, track repair opportunities such as photovoltaic and semiconductor, as well as short-term active concepts of precious metals, military industry and Eastern digital Western computing. Pay attention to position control before the situation becomes clear. All external forces will be gradually absorbed by the market and integrated into the medium and long-term operation rhythm of the market itself.
Guotai Junan Securities Co.Ltd(601211) believes that the early low of 3356 has strong support. The most important factor affecting the decline in the market is the intensification of the conflict crisis between Russia and Ukraine, which led to a sharp decline in the global stock market and a rapid rise in commodity prices. From the rise of the military industry and gold sector against the trend, we can realize that the risk aversion of funds in the market is heating up rapidly. The previous adjustment of the market has been relatively sufficient. The recent sudden peripheral bad news has further hit the market and may form an oversold state. On the whole, there is no need to be overly pessimistic about the external bad. After the short-term rest of the market, with the upward repair of positive factors in March, the market will gradually recover.
