On Monday, the three major indexes plunged. The gem index fell more than 5% to below 2200 points. The Shanghai composite index jumped to open low and fell unilaterally throughout the day, falling below the 3000 point mark. In terms of sectors, turn green in an all-round way. Internet e-commerce, military industry, metal materials and education led the decline, while banks, securities and airport shipping were more resistant to decline.
As of the close, the Shanghai Composite Index closed at 292851 points, down 158.41 points, or 5.13%. The turnover was 427.1 billion. The Shenzhen Component Index closed at 1037928 points, down 672.42 points, or 6.08%, with a turnover of 469.8 billion. The gem index closed at 216900 points, down 127.60 points, or 5.56%, with a turnover of 171.9 billion. In Shanghai and Shenzhen stock markets, a total of 170 stocks rose, 4626 fell, 32 rose and 686 fellp align=”center”>
Future prospects of Bairui:
The market opened low all day, and the three major indexes fell by more than 5%. The Shanghai Composite Index closed below 3000 points, a new low since mid June 2020. On the disk, almost all sectors fell across the board, and the cyclical and digital economy related sectors collectively fell sharply. In addition, several heavyweights fell sharply, China Merchants Bank Co.Ltd(600036) , New China Life Insurance Company Ltd(601336) , Wuliangye Yibin Co.Ltd(000858) , Contemporary Amperex Technology Co.Limited(300750) , Longi Green Energy Technology Co.Ltd(601012) , etc. all fell by more than 5%. Overall, individual stocks fell more and rose less. There were less than 200 popular stocks in the two cities. Nearly 1000 stocks fell by the limit or more than 10%, and more than 1800 stocks fell by more than 9%. The turnover of Shanghai and Shenzhen stock markets today was 896.9 billion, 143.6 billion more than that of the previous trading day.
Technically, the index broke and fell, and the major stock indexes fell by more than 5%. The market followed the trend of panic. Today, the index closed at the lowest point. It is more likely to continue to explore downward. First, patiently wait for the emergence of technical resistance after full adjustment, and pay attention to the rebound repair opportunities after oversold.
Strategically, under the global panic, the market trend is like a puddle of mud. But at present, the gem valuation (PE) has been in the vicinity of the 30% place in history. The Shanghai and Shenzhen 300 valuation (PE) is near the 40% minute position. Although it can not be said to be underestimated, it is at least cheap. The adjustment of 30% in the past year has squeezed most of the foam out, and has a relatively wide space for repair in the later stage. In short, when the risk is released, we will wait patiently for it to be released. After the tide ebbs, we can dig more treasure. In the later stage, we will pay attention to the opportunity of being killed by mistake in high-quality stocks brought by this wave of sharp decline.
