On January 25, the three major A-share indexes fell sharply. The Shanghai index, Shenzhen Composite Index and gem index all fell by more than 2.5%, and the gem index fell below the 3000 point mark.
According to the statistics of China stock market news, the market turnover reached 936.8 billion yuan, the industry sector showed a general downward trend, and the number of falling stocks exceeded 4400.
Near the Spring Festival, the market is still in the doldrums, coupled with the turmoil in the markets outside Shanghai, the A-share market fell sharply.
The stock index closed at 3433.06 points, down 2.58%, the largest one-day decline in 18 months.
The Shenzhen Component Index fell 2.83% to close at 13683.89 points; The gem index fell 2.67% to close at 2974.96 points, with a rare loss of 3000 points.
Shanghai and Shenzhen 300 reported 4678.45 points, down 2.26%; Kechuang 50 reported 1277 points, down 2.35%; SSE 50 reported 3144.95 points, down 2.02%.
Wu Qiong, research director of honeycomb fund, told the first financial reporter that today, all sectors of the market fell together, which had a great impact on confidence, but the impact of peripheral conflicts on us was limited, and the fundamentals of the United States did not support the more hawkish signal issued by the Federal Reserve’s interest rate meeting.
On the disk, according to statistics, the cultural media and Internet sectors were adjusted in depth, Zhewen Interactive Group Co.Ltd(600986) , Hubei Radio & Television Information Network Co.Ltd(000665) , Genimous Technology Co.Ltd(000676) and other limits. The financial, semiconductor, real estate, automobile and resource sectors continued to decline in the afternoon, Ping An Insurance (Group) Company Of China Ltd(601318) , Petrochina Company Limited(601857) , Wuliangye Yibin Co.Ltd(000858) fell by more than 3%, and Byd Company Limited(002594) , China Vanke Co.Ltd(000002) , Baosteel fell by more than 4%.
However, the precious metal sector with risk aversion rose against the market, with Hunan Gold Corporation Limited(002155) rising by more than 6%, Western Region Gold Co.Ltd(601069) , precious gold and silver industry rising by more than 3%, Shandong Gold Mining Co.Ltd(600547) , Zhongjin Gold Corp.Ltd(600489) , Shandong Humon Smelting Co.Ltd(002237) rising by more than 2%.
According to the analysis of Huaxia Fund, external risks are still an important main reason, especially the recent escalation of the crisis in Ukraine. Globally, investors’ risk aversion has increased significantly, and the regional crisis situation is affecting the prices of major assets including Shenzhen Agricultural Products Group Co.Ltd(000061) , industrial metals, stocks and bonds in the short term, which also has a negative impact on the risk appetite of the A-share market.
In fact, since the beginning of the year, affected by the expectation of overseas interest rate hikes, the yield of US bonds has continued to rise, coupled with the fermentation of geopolitical risks, and the overseas market has fluctuated sharply. Among the three major US stock indexes, Dow Jones, NASDAQ and S & P 500 have fallen by 5.4%, 11.4% and 7.5% respectively since the beginning of the year.
Under the background of accelerating global capital flows, there is a certain risk of resonance weakening between A-Shares and US stocks. Affected by this, market sentiment has weakened recently, and risk appetite has shrunk significantly. The Shanghai Composite Index has fallen by 5.68% since the beginning of the year. Stocks with high valuations have decreased significantly, and the related fields of steady growth have fallen against each other.
as the Lunar New Year approaches, where will the market go?
Citic Securities Company Limited(600030) said that with the arrival of the “emotional bottom”, it is expected that the market capital will resume inflow, and the “market bottom” is gradually approaching. It is suggested to continue to focus on the “two low” layout of blue chips to meet the starting point of the market in the first half of the year.
Wu Qiong believes that the decline is not caused by the deterioration of fundamentals. On the one hand, external sentiment has an impact, on the other hand, funds choose to sell because they avoid the uncertainty of the long Spring Festival holiday. In fact, many stocks have entered the range where the performance and valuation are more matched, and the cost performance is gradually showing. Moreover, the government still has many tools to stabilize growth, so there is no need to panic about the current position.
