The market came out of a medium decline today. In the morning, the stock index opened low, the stock index fluctuated downward, fell to 3514 points at the lowest in the afternoon, and then rebounded, but the upper offensive strength was insufficient, and the stock index fell again.
The two cities traded a total of 984.5 billion, a decrease of 144.5 billion compared with yesterday.
The three major U.S. stock indexes closed down last night. Jeremy Grantham, a legendary investor who has successfully predicted the three market bubble, has recently warned that the S & P 500 index will collapse nearly 50% after the collapse of fourth super bubbles in the US history, even though various measures have been taken to prevent the bubble from collapsing. The Fed's expectation of raising interest rates in advance has put pressure on global markets.
The trend of US stocks has an impact on the opening of a shares, but today's intraday decline is still related to the weak willingness to trade before the festival. Under the continuous positive stimulation of the management, the stock index hesitated. When it did not rise, the lack of market confidence went down. As the long Spring Festival holiday is approaching, it is inevitable to consider factors such as changes in the overseas market in the same period. If there is no certainty of victory, the organization will adopt a conservative attitude and postpone admission.
In addition, there are some changes in the market recently. An insurance industry asset manager disclosed that they couldn't stand the big position adjustment of an institution for the first time. The position adjustment direction is big blue chip.
Fund managers are also urgently adjusting their positions, undervalued sector is favored, and public offering for the sake of valuation safety, they adjusted their positions and exchanged shares at the end of the year and the beginning of the year, mainly in the direction of undervalued banking, real estate, finance and so on. The flow and switching of these large funds will certainly have an impact on the market style.
The tourism sector led the rise today, with Xi'An Qujiang Cultural Tourism Co.Ltd(600706) , Yunnan Tourism Co.Ltd(002059) and other stocks trading. On the news, the State Council issued the tourism development plan for the 14th five year plan, which proposed that by 2025, China's tourism will flourish, inbound and outbound tourism will be promoted in an orderly manner, and inbound tourism promotion actions will be launched in a timely manner on the premise of ensuring epidemic prevention safety. Accelerate the application of new technologies and technological innovation, and improve the development level of tourism with scientific and technological innovation.
Tourism, hotels, restaurants and other sectors damaged by the epidemic have shown positive performance today, and the policy support has strengthened the market space for dilemma reversal. It is worth noting that the mention of "timely start of inbound tourism promotion action" means that there is a dawn of the epidemic? Industries suppressed by the epidemic and even economic fundamentals can raise expectations.
The coal sector strengthened again today. Shanxi Coal International Energy Group Co.Ltd(600546) released the performance forecast. The company expects to achieve a net profit attributable to shareholders of listed companies of RMB 4.5 billion to RMB 5 billion in 2021, with a year-on-year increase of 444.14% to 504.59%.
Shan Coal's brilliant performance has driven the trend of the coal sector. In fact, the market has lagged behind. With the situation that the coal industry made a lot of money last year, now the share prices of coal companies are undervalued, and it is impossible to remain unchanged in the annual report market. At the close of today, the stock index was still in the doldrums, but there were changes in the late trading of the coal sector. The varieties with definite performance and dividends can be attacked and retreated, and the spring market will not be absent. These beneficial varieties on the supply side can be revalued as franchise rights.
The trend of non-ferrous sector is also weak. The commodity market is not over. Recently, many well-known international and Chinese institutions have raised their oil price expectations. Oil is the mother of commodities, and the main line of inflation always exists. If the monetary policy is loose, the pro cyclical varieties may have double-click opportunities for performance and valuation.
The market index weakened, testing the support of the level near 3500. There is no bad news in the market, but the wait-and-see mood prevails before the festival. If there is no large-scale Changyang to attract funds, the market can only wait until years later.
