On the 19th, with the general downturn of Asian stock markets and the sharp decline of U.S. stocks overnight, China's A-Shares rose against the trend, all major stock indexes ended in red, and the Representative Shanghai Composite Index approached the 3100 point mark.
As of the closing of the day, the Shanghai stock index reported 3096 points, up 0.36%, with a turnover of 360 billion yuan (RMB, the same below); Shenzhen composite index reported 11250 points, up 0.37%, with a turnover of 446.7 billion yuan; Gem index reported 2377 points, up 0.5%.
It is worth noting that the performance of peripheral markets is not ideal. As of the close of US stocks overnight, the Dow Jones index fell 3.57%, the Nasdaq composite index fell 4.73% and the S & P 500 index fell 4.04%. On the 19th, Asian stock markets were weak. As of 3 p.m. Beijing time, the major stock indexes of Japan, South Korea, Indonesia and other Asian countries had fallen to varying degrees.
China Industrial Securities Co.Ltd(601377) chief strategist Zhang Qiyao said that the recent increase in volatility in overseas markets was mainly due to investors' concern that high inflation in the United States and China might prompt the Federal Reserve to raise interest rates aggressively. However, for a shares, under the landing of overseas interest rate hikes and the fluctuation of the external market, foreign capital is not far away. Therefore, on the whole, although the Fed continues to raise interest rates and shrink the table, and the volatility of overseas markets may also be a phased normal, it does not pose a systematic impact on a shares.
Wang Jianjun, vice chairman of China Securities Regulatory Commission, also said recently that from the trading situation of Shanghai and Shenzhen Stock connect this year, the net inflow of foreign capital in January and February, the net outflow in March and the net inflow in April. From historical experience, it is normal for foreign capital to go in and out. There has been no fundamental change in foreign capital flows and transactions in the near future. In terms of structure, since this year, the allocation type and long-term funds have maintained a net inflow. This shows that foreign capital is optimistic about the long-term investment value of a shares, and also reflects foreign capital's confidence in the long-term improvement of China's economy.
Yang Delong, chief economist of Qianhai open source fund, is also optimistic. He said that generally speaking, the decline of US stocks will have a negative impact on the confidence of a shares. However, considering that the current valuation of A-Shares is relatively low, China's official policies for steady growth are being introduced one after another, the covid-19 pneumonia epidemic is also being gradually controlled, and the negative factors have been basically digested by the market.
In terms of specific sectors, most A-share sectors rose on the same day. Among them, the real estate sector led the increase, with real estate services and real estate development rising by 3.05% and 2.65% respectively.
