Outlook:
The index fluctuated repeatedly on Thursday, with a net inflow of more than 10 billion yuan from the north. After the three indexes opened low, the market bottomed out and rebounded, rose and fell in the afternoon, the indexes turned green one after another, and finally the three indexes closed down slightly. Under the force of the financial sector, the CSI 300 and SSE 50 indexes have a strong trend. Individual stocks fell more or less, banks, non bank finance, household appliances, agriculture, forestry, animal husbandry and fishery, food and beverage and other sectors led the decline, led by media, national defense and military industry, basic chemical industry and other sectors. In terms of market environment, the 1-year and 5-year LPR interest rates were lowered by 10bp and 5bp to 3.7% and 4.6% respectively, which is in line with market expectations. This will help to improve the activity of the housing market, reduce medium and long-term financing costs, boost the financing demand of the real economy, and it is expected that the liquidity easing policy will be released in the future. In addition, the national standing committee decided to continue 11 tax preferential policies related to science and technology, employment and entrepreneurship, medical treatment and other preferential policies on the basis of the extension of some expired tax preferential policies in the early stage, so as to inject a strong signal of stability and good expectation into the market by the end of 2023. From the technical point of view, the market continues to fluctuate repeatedly, and the stock index gains and losses in the first half of the year. However, the volume of the two cities can expand slightly, and the net capital inflow to the North exceeds 10 billion. It is expected that the market is expected to stabilize and strengthen, and pay attention to the gains and losses of the annual line and the rotation of the sector. In terms of operation, it is recommended to pay attention to finance, steel, food and beverage, household appliances, building materials, building decoration and other industries.
