In early trading, A-shares broke out, financial and consumer stocks rose sharply, and funds went north for half a day to buy more than 10 billion.
The RRR reduction effect finally appeared, and A-Shares rose sharply in early trading. As of the morning closing, the Shanghai Composite Index rose 1.03% to close at 3675.04 points, and the Shenzhen Composite Index rose 1.27% to 15154.2 points. In terms of sectors, leisure services, food and beverage, non bank finance, household appliances and other sectors led the increase, while in terms of concepts, mini led, NFT, medical beauty and other concepts led the increase.
The brokerage sector, known as the flag bearer of the bull market, rose sharply in early trading, up more than 2%, Chinalin Securities Co.Ltd(002945) , Zheshang Securities Co.Ltd(601878) and several stocks such as Caida Securities Co.Ltd(600906) , Southwest Securities Co.Ltd(600369) rose by more than 5%. A large inflow of funds from the North attracted more than 10 billion in one morning.
net inflow of northbound funds in early trading was 13.6 billion
As of noon closing, North net capital inflow exceeded 10 billion yuan, reaching 13.6 billion yuan. it is worth mentioning that previously, funds going north had net purchases for six consecutive days, with a cumulative net purchase amount of 33.3 billion yuan . Some analysts believe that the sudden rush of foreign capital to grab Chinese assets shows that foreign capital is full of confidence in China’s economy. In addition, the recent record high of the RMB exchange rate has also verified the strength of China’s economy.
RRR reduction combined with RMB appreciation is good for the large financial sector. In early trading, both securities and insurance sectors rose more than 2%, and the banking index rose more than 1%.
Galaxy Securities believes that the primary purpose of RRR reduction is to ensure reasonable and stable economic growth and hedge against economic downturn. After the RRR reduction, monetary policy easing is a relatively certain thing. The economy is still in a weak state in the first half of next year, and monetary easing will continue until at least the first half of next year. It does not rule out the continuous reduction of reserve requirements and the opening of interest rate reduction.
In the A-share market, some heavyweights have been greatly increased by northward funds recently. According to the rough calculation of the average transaction price in the past six trading days, Kweichow Moutai Co.Ltd(600519) , Citic Securities Company Limited(600030) , East Money Information Co.Ltd(300059) , China Merchants Bank Co.Ltd(600036) , Will Semiconductor Co.Ltd.Shanghai(603501) , Gigadevice Semiconductor (Beijing) Inc(603986) and other stocks have obtained northward capital holdings of more than 1 billion yuan, and Kweichow Moutai Co.Ltd(600519) holdings of nearly 2.5 billion yuan rank first.
recommended by the 100 page Research Report of securities companies, led leading trading limit
Mini led plate broke out in early trading and closed up more than 3% in the morning. In terms of individual stocks, Xiamen Changelight Co.Ltd(300102) , Shenzhen Longli Technology Co.Ltd(300752) , Shenzhen Xinyichang Technology Co.Ltd(688383) , Anhui Coreach Technology Co.Ltd(002983) and many other stocks rose by more than 5%. Among them, leading stocks Sanan Optoelectronics Co.Ltd(600703) closed at the daily limit in the morning.
It is worth mentioning that Founder Securities Co.Ltd(601901) analyst Chen Hang recently recommended Sanan Optoelectronics Co.Ltd(600703) in a 100 page in-depth research report. It was also announced this morning that it would be interpreted in depth after hours.
Chen Hang’s in-depth research report believes that the company, as a leader in the LED industry, realizes Chen Ben efficiency and ensures stable revenue based on the integration of LED industry chain. On this basis, the company has actively arranged the third-generation semiconductor, built the production line and cooperated strategically with downstream TCL, Samsung and other enterprises. Now it has realized the supply of subdivided products in the four fields of microwave RF, first power, power electronics and first communication. In the future, under the background of high downstream demand, the continuous release of the company’s production capacity will continue to drive the growth of the company’s revenue scale.
Chen Hang predicted that the net profit in Sanan Optoelectronics Co.Ltd(600703) 2023 will reach nearly 4 billion yuan, and the predicted revenue will exceed 20 billion yuan. Last year’s annual report showed that Sanan Optoelectronics Co.Ltd(600703) revenue was 8.4 billion yuan and net profit was 1 billion yuan.
soda ash futures fell sharply. Last week, the association refuted the rumor and did not collude with the price increase
China’s futures market opened in early trading, and various varieties rose and fell. following yesterday’s limit, the main contracts of soda ash futures in early trading fell by nearly 8% , and the main futures contracts such as jujube, PVC and stainless steel all fell by more than 2%; The main futures contracts such as rapeseed meal, soybean II and Shanghai lead were among the top gainers.
On December 2, China Soda Ash Industry Association issued a statement saying that recently, a false information about the monopoly market of soda ash industry association has been widely spread in the soda ash futures market. The statement in the news that ” Association uses its status to cooperate with soda ash enterprises to raise the price of soda ash, increase soda ash futures and buy shares of soda ash industry” is seriously untrue , The association has never cooperated with soda ash enterprises to raise the price of soda ash, nor has it colluded and monopolized with soda ash enterprises.
The main contracts of soda ash futures fell continuously, and related concept stocks fell sharply in the morning, Inner Mongoliayuan Xing Energy Company Limited(000683) fell nearly 6%, and individual stocks such as Tangshan Sanyou Chemical Industries Co.Ltd(600409) , Sichuan Hebang Biotechnology Co.Ltd(603077) , Shandong Haihua Co.Ltd(000822) fell more than 3%.
Biden invested 1 billion in electric fleet, construction and clean energy
On Wednesday, December 8 local time, US President Joe Biden signed an executive order to use the purchasing power of the federal government to make the United States carbon neutral by 2050, reduce its greenhouse gas emissions by 65% by 2030, and build an all electric fleet by 2035, which is the latest measure taken by the US government to combat climate change.
It is reported that Biden’s executive order requires federal agencies to transition to buying 100% zero emission vehicles for their fleet by 2035. Under the order, the White House will spend billions of dollars to expand its federal all electric fleet , upgrade government owned or leased buildings, and add more clean power to the U.S. power grid. Among them, the U.S. government will use its annual purchasing power of $650 billion to improve the efficiency of its 300000 buildings and replace 600000 cars and trucks with electric vehicles.
musk anger against Biden: electric vehicles do not need high subsidies
Tesla CEO Elon Musk tweeted on Wednesday, criticizing US President Biden’s spending bill as full of “fraud”.
In an online forum on Monday, musk said that the United States does not need the Biden administration’s $1.75 trillion “rebuilding a better future” bill. He said: “we spend so much money that the federal budget deficit is crazy. If I say, don’t pass the whole [bill], that’s my suggestion.”
Musk said the Biden government’s proposal to give high subsidies to the electric vehicle industry was “completely unnecessary” . “If I decide, I’ll cancel the bill.”
Analysts pointed out that Musk’s biggest dissatisfaction with this is that Tesla‘s U.S. factory has no trade union organization, which means that Tesla will receive at least $4500 less subsidies than GM, Ford and other auto companies. Compared with other auto companies, Tesla has no price advantage.
(data treasure)
