Trend review:
Today's market was weak in the morning, but rebounded in the afternoon. The main indexes once collectively turned red, but the persistence was slightly weak. They fell again near the end of the day. The Shanghai Composite Index closed down 0.25% to 308598, and the Shenzhen composite index fell 0.2% to 1120808. In terms of industries, the rise and fall of all industries were small, led by textile and garment (+ 1.6%), comprehensive finance (+ 1.25%) and comprehensive (+ 0.93%), while coal (- 1.52%), consumer service (- 1.46%) and transportation (- 1.07%). The turnover of the two cities was 770643 billion yuan, with 2840 rising stocks and 1760 falling stocks. Market differences have increased, and the index has shrunk and consolidated.
Market focus:
The theme sectors are active in turns, and the hot spots rotate rapidly. The strong performance is mostly the unpopular concept or non mainstream stocks in the sector, while the track stocks with strong cohesion are mainly reflected in the oversold rebound and positive stimulation. The trading limit of the whole market quickly rebounded to about 100, and the number of companies connected to the board increased to 19. As of the closing, the trading limit was mainly concentrated in new energy, large technology and large consumption sectors, and the themes of military industry and state-owned enterprise reform also performed well. Combined with the current themes and hot spots, although the performance of individual stocks rises and falls, the weight performance is general. In this period, the performance of sectors and individual stocks boosted by some news is more eye-catching. With the continuous increase of policies, the confidence and enthusiasm of the market are gradually improved, but the market has always lacked sustainable and appealing new hot spots.
We believe that the recent warm wind in terms of policy has played a very positive role in stabilizing market sentiment. At the same time, the rapid adjustment in the early stage has made the overall valuation of the market enter a reasonable valuation area. The market hit the bottom and rebounded, the index continued to fluctuate upward, and continued the rebound trend since the end of April in May. However, under the restraint of foreign Russia Ukraine war and China's economic downturn, the market risk appetite has been suppressed and the upward trend is weak. The rebound space of the index may be relatively limited. In the near future, we may pay attention to the possibility of periodic decline. We have been focusing on the short-term value chain reform and local stock market, and we have been focusing on the short-term value chain reform and local stock market.
Risk tip: global economic recession risk, Fed tightening risk and epidemic spread risk.
