On the 25th, the three major A-share indexes collectively fell by more than 2%. Under the gloomy market, “A-share”, “fund”, “stock market” and “stock” have been on microblog hot search in turn.
As of the close, the stock index fell 2.58% to 3433.06 points, below 3500 points; The Shenzhen composite index fell 2.83% to 13683.89 points; The gem index fell 2.67% to 2974.96 points, falling below 3000 points.
Stock index daily K trend chart.
Under the sluggish market performance, the full day turnover of Shanghai and Shenzhen markets was less than trillion yuan. Northbound funds sold a net 3.574 billion yuan throughout the day, ending the net buying trend for seven consecutive days, including 1.372 billion yuan for Shanghai Stock connect and 2.201 billion yuan for Shenzhen Stock connect.
From the disk point of view, only 283 stocks rose in the two cities, and 33 stocks rose by the limit; 4409 stocks fell and 81 stocks fell by the limit. Media and entertainment, Internet, advertising packaging, it equipment, software services and other industry sectors led the decline. In the concept sector, cloud games fell more than 7%, leading the market.
“Since the beginning of the year, A-Shares have been adjusted continuously, with both external emotional disturbance and internal capital differences.” Tan Qian, director of Huaxin Securities Research Institute, believes that externally, the US bond interest rate, as the “anchor of global asset pricing”, continues to rise, which has disturbed the global market, especially the emerging markets and high valuation sectors; Internally, the demand for capital hedging soared, bond funds attracted capital inflows, stock bond funds showed a seesaw effect, and domestic and foreign capital in the stock market could not form a joint force.
Zheshang Securities Co.Ltd(601878) analyst Wang Yang said that looking forward to February, we expect to usher in a phased rebound, dominated by small cap stocks. The reasons are as follows: first, the risk of early Baotuan varieties has been released, and some sectors have oversold in the short term; Second, the resumption of trading shows that the rising probability of wandequan a in February since 2000 is close to 80%. Since 2011, the probability of small cap dominance in February is more than 90%, which may be due to the Spring Festival effect and the seasonal law of credit supply.
under the continuous adjustment of a shares, can the market in spring be expected?
In this regard, Cai Fangyuan, a strategic analyst at Galaxy Securities, pointed out that the launch of the spring market has several characteristics: first, the market generally experiences a period of decline before the opening of the spring market, and the decline range of the early market determines the rebound strength of the spring market to a certain extent. Second, optimistic policy is a sufficient condition for the opening of the market in spring. Over the years, the release of liquidity by the central bank, the recovery of credit data and the maintenance of stability by regulators are all the driving forces for the upward market in spring. If the economic upward trend or the improvement of market fundamentals are superimposed, the increase during the market period will be greater. Third, electronics, home appliances, building materials and computers have performed well in previous spring markets.
