On Monday, the A-share market continued to be strong, and the Shanghai index hit the integer level of 3700 points again after three months, just one step away from the high point of the year. The concept of meta universe once again set off a wave of trading, and financial stocks and consumer stocks also continued to recover.
As of yesterday’s close, the Shanghai composite index was at 3681.08 points, up 0.40%; Shenzhen composite index reported 15212.49 points, up 0.67%; Gem index reported 3496.96 points, up 0.87%. The Shanghai and Shenzhen stock markets traded a total of 1277.7 billion yuan, exceeding trillion yuan for 37 consecutive trading days.
The concept of meta universe has become the strongest main line in the recent market. The yuan universe index released by Hithink Royalflush Information Network Co.Ltd(300033) rose 5.72% yesterday, with a cumulative increase of 14% in the past four trading days. In terms of individual stocks, Beijing Fengshangshiji Culture Media Co.Ltd(300860) , Bizconf Telecom Co.Ltd(300578) , Hengxin Shambala Culture Co.Ltd(300081) , Shenzhen L&A Design Holding Limited(300949) all gained 20% limit yesterday, of which Beijing Fengshangshiji Culture Media Co.Ltd(300860) has recently gained three consecutive boards.
On the news side, baidu recently announced that it will release the meta universe product “xirang” on December 27. At that time, baidu AI developer conference will be held in “xirang”. It is reported that this is the first time that China has held a conference in the meta universe. In addition to Baidu, China Telecom Corporation Limited(601728) , BiliBili and other telecom and media giants have also begun to layout the yuanuniverse track recently.
Although stimulated by the news, the concept of meta universe has become a star sought after by funds in the secondary market. However, in the view of some people in the industry, the realization prospect of meta universe is still unclear, and short-term investors should not be blindly optimistic.
Everbright Securities Company Limited(601788) Fu Tianzi, chief analyst of overseas TMT, by exploring the evolution of the power revolution and mobile Internet revolution in history, infers that the rhythm of human access to the virtual world still needs to follow the three dimensions of technological maturity, commercial feasibility and market incremental space. “According to the current underlying technology and commercial feasibility, the comprehensive breakthrough of the meta universe is still relatively long.” Fu Tianzi said.
Specific to the investment opportunities of yuanuniverse, Fu Tianzi stressed: “in the long term, we should not underestimate the grand narrative, and in the short term, we should not overestimate the pace of technological progress.” In his opinion, first, VR and AR products have achieved a major breakthrough in excellent user experience and cost, and the acceptance of C-end users has broken through the critical point; Second, the emergence of popular content promotes the progress and large-scale popularization of metauniverse hardware, resulting in accelerated development of the industry and other events. The above two events will become the catalytic factors to stimulate the rise of the stock price of the meta universe concept in the future.
While domestic investors pursue the concept of meta universe, foreign investors are also stepping up the layout of the A-share market, but the buying focus is still focused on traditional fields such as finance and large consumption.
Northbound funds bought a net 5.366 billion yuan for the whole day yesterday, the ninth consecutive trading day. Since December, the overall net buying scale has expanded to 69.4 billion yuan. The data disclosed by the Hong Kong Stock Exchange after hours showed that northbound funds mainly increased their positions in leading financial stocks yesterday. Yesterday, East Money Information Co.Ltd(300059) obtained a large net purchase of RMB 1.765 billion from BEIXIANG funds, Ping An Insurance (Group) Company Of China Ltd(601318) , China Merchants Bank Co.Ltd(600036) , Citic Securities Company Limited(600030) and so on.
The Citic Securities Company Limited(600030) strategy team believes that the relative attraction of RMB assets around the world is still strong, and it is expected to maintain the net inflow trend of northward funds in the future. Against the background that the epidemic prevention and control situation continues to improve, China’s economy is less likely to be disturbed by the covid-19 mutant strain, its importance in the global supply chain will be further improved, its relative growth advantage will be more obvious, and the attraction of Chinese assets in the world is expected to be further improved.
According to Citic Securities Company Limited(600030) calculation, historically, there is often inertia after a large short-term net inflow of northbound funds: after the net inflow of more than 10 billion yuan per day in the previous 30 trading days, the net inflow of configured northbound funds will still be maintained in most cases (93.3%) in the next 30 trading days; Trading funds have no obvious inflow or outflow tendency in the same period.
(Shanghai Securities News)
