Market Overview
On Friday, the Shanghai and Shenzhen stock markets were divided. Driven by the strong power of coal and electricity, the Shanghai index stood at 3600 points. Power stocks set off a wave of limit trading, Huaneng Power International Inc(600011) , Gcl Energy Technology Co.Ltd(002015) , Fujian Funeng Co.Ltd(600483) , Zhongmin Energy Co.Ltd(600163) . Among coal stocks, Jizhong Energy Resources Co.Ltd(000937) limit trading, China Shenhua Energy Company Limited(601088) rose by more than 9%, power investment energy, Shaanxi Coal Industry Company Limited(601225) rose by more than 5%, and the correction of chemical, rare earth and other sectors was obvious. Market sentiment was more positive, with individual stocks rising more and falling less. The turnover of the two cities was more than 11000 billion yuan, with a turnover of more than trillion yuan for 31 consecutive days.
The rise of the coal sector was mainly stimulated by the news that the benchmark price of the long-term association exceeded the market expectation and superimposed on the oversold rebound momentum of the recent in-depth correction of the sector. However, China’s determination to transform its energy is becoming stronger and still has great uncertainty. It is recommended to deal with it carefully. It is suggested that attention should be paid to consumption switching, and consumption will gradually take the expected bottom. The demand for the end of the year will be strong. We should pay attention to the high cost performance plates, such as Baijiu, pig, dairy and auto parts, which are supported by performance and improve profit expectations.
