On Wednesday, the major indexes of A-Shares fell across the board. The Shanghai Composite Index fell 1.35% to 3151 points, and the gem index fell 3.66% to a new low. The total turnover of the two cities was 820.4 billion yuan, an increase of about 40 billion over the previous day. On the disk, hotel catering, food and beverage, prefabricated vegetables, tourism, seed industry and other sectors rose against the market, while coal, real estate, steel, nonferrous metals, construction, lithium battery and other sectors led the decline. Stocks in the two cities fell more and rose less, and the overall market sentiment was relatively poor.
Northbound funds showed a unilateral net outflow trend throughout the day, with a net outflow of RMB 3.286 billion from Shanghai Stock connect and RMB 2.001 billion from Shenzhen Stock connect, with a total net outflow of RMB 5.288 billion, which was recorded for three consecutive days. According to the after hours dragon and tiger list data, Shenzhen Stock connect focused on buying Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) and Sanquan Food Co.Ltd(002216) , with a net amount of 103 million yuan and 97.45 million yuan respectively; Sell Tus Environmental Science And Technology Development Co.Ltd(000826) , Oceanwide Holdings Co.Ltd(000046) and other stocks slightly.
Yuesheng financial management said that there are two main reasons for the market adjustment on Wednesday. On the one hand, the results of the annual report and quarterly report triggered a decline in sentiment. At present, it has entered the peak period of centralized disclosure of annual and quarterly reports. The performance mine has a significant impact on the stock price. Even if the performance is in line with expectations and there is no surprise, it has also been adjusted by the capital position and stock exchange, resulting in the stock price adjustment. For example, the performance of Sungrow Power Supply Co.Ltd(300274) was lower than expected due to the lower than expected performance of the annual report and the first quarter report, resulting in a 20cm limit, Risesun Real Estate Development Co.Ltd(002146) , Gansu Jiu Steel Group Hongxing Iron And Steel Co.Ltd(600307) and Gansu Jiu Steel Group Hongxing Iron And Steel Co.Ltd(600307) were also lower than expected, and the market was worried that the performance of Contemporary Amperex Technology Co.Limited(300750) the first quarter report would be lower than expected, Contemporary Amperex Technology Co.Limited(300750) fell 7% in volume. The decline of leading enterprises triggered concerns that the performance of Companies in the same industry was lower than expected, which further led to the decline of sentiment.
On the other hand, there is a need for market funds to avoid risks. With the May Day holiday approaching, the A-share market has always had a holiday effect. Some funds will avoid risks in advance before the holiday, and the market trading activity will be reduced. After the May Day holiday, the Federal Reserve will hold an interest rate meeting. The probability of raising interest rates by 50bp will exceed 90%. At the same time, it will also accelerate the table contraction, push up the US bond interest rate and suppress the risk appetite of the global stock market. Before the event, some risk averse funds were unwilling to take risks to participate in the transaction.
Yuesheng financial management believes that the current market continues to grind the bottom and still needs to control the overall position. From the perspective of technical trend, the Shanghai stock index has fluctuated mainly in the range of 31503300 points since March 17. From the perspective of elongation, the large box vibration range is Hithink Royalflush Information Network Co.Ltd(300033) 00 points. The gem index is even weaker. Since the adjustment at the end of last year, the index has been suppressed by the 5-week moving average. It is difficult to see a large rebound until it breaks through the 5-week moving average upward. Generally speaking, the market has repeatedly ground the bottom and needs to wait patiently. It is suggested to continue to control positions and do a good job in defense. Prudent investors will increase their operation after the boots of the interest rate meeting in early may or the market sentiment recovers.
