Financial Associated Press Afternoon

time:2022-12-02 17:18:12 source:clevelanddrifters.com author:Market analysis
Financial Associated Press Afternoon

1. [Review of the market in early trading] The broader market opened lower in early trading and then fluctuated lower, led by the ChiNext. On the disk, a few sectors rose against the trend. Among them, CRO concept stocks were active, and Wisdom Medicine rose more than 10%; tourism stocks changed intraday, and Guilin Tourism hit the daily limit; bank stocks were relatively resistant, and Bank of Ningbo rose more than 5%. In terms of decline, the track stocks such as Fengguang Chuan adjusted again, many stocks such as Paineng Technology and Kexin Technology fell by more than 10%, and many stocks such as Sanwei Chemical and Zhiguang Electric fell by the limit. In general, stocks fell more and rose less. Nearly 4,300 stocks in the two cities fell, less than 600 stocks were in the red, and nearly 50 stocks fell by the limit or more than 10%. The half-day turnover of the Shanghai and Shenzhen stock markets reached 627 billion yuan, an increase of 84.8 billion yuan compared with the morning of the previous trading day. In terms of sectors, sectors such as tourism, banking, and CRO led the rise, while sectors such as integrated die-casting, oil and gas, virtual power plants, and energy storage led the decline. As of the close, the Shanghai Composite Index fell 1.18%, the Shenzhen Component Index fell 1.74%, and the ChiNext Index fell 2.13%. In terms of northbound funds, Shanghai Stock Connect had a net inflow of 1.018 billion in early trading, and Shenzhen Stock Connect had a net outflow of 809 million in early trading. A total of 18 stocks in the two cities have daily limit (excluding ST and new stocks that have not yet opened), 12 stocks have not sealed the daily limit, and the rate of explosion in the two cities is 44%. There are only 5 stocks left in the two cities. Among them, VR/AR concept stock Huanrui Century, cloud game concept stock Beiwei Technology won 3 consecutive boards, infrastructure stock Poly United, satellite communication concept stock 3D Communications, and media stock Tianwei Video 2 consecutive boards. From the perspective of the sector, the track reversed and led the decline again, with the collective decline in integrated die-casting, virtual power plants, TOPCon batteries, and energy storage. The track has experienced several months of main rising market. While the overall level has come to a higher level, it has also accumulated a lot of profit and selling pressure. There is already a demand for downward repairs, and the track direction has been on the rise since last week. After the continuous decline, the chips have shown obvious signs of loosening, so the recent continuous decline is expected. As of now, the risk in the direction of the track has not been fully released, and the probability of further bottoming out in the future is not low. In the short term, it is still necessary to pay attention to the corresponding risk control. The brewing sector bucked the trend and closed red under the pattern of general decline. Among them, Shanxi Fenjiu, Gujing Gongjiu, Luzhou Laojiao, Shede Wine and other stocks were among the top gainers. Zheshang Securities believes that with the disclosure of the performance of the liquor sector in 22Q2, the lower-than-expected performance of some liquor companies in 22Q2 actually reflects the real operating conditions under the epidemic (the negatives are exhausted), and the performance of contract liabilities is expected to generally improve + inventory is normal. Brand wine companies are taking multiple measures to speed up their efforts to seize the Mid-Autumn Festival and National Day sales. The performance of wine companies in 22Q3 may usher in deterministic and flexible opportunities. Therefore, the lower-than-expected performance of some wine companies in 22Q2 provides a rare layout opportunity. Looking forward to the market outlook, the economic environment is gradually repaired, the market economy of regional wine bases is developing better, and the sales of the Mid-Autumn Festival and National Day collections are accelerated, which is expected to usher in periodic structural opportunities. In addition, today's media once again bucked the trend and gained popularity again, showing a certain degree of continuity. Among them, the GEM Reader Culture received the 20CM daily limit, the 3rd consecutive board of Huanrui Century, the 2nd consecutive board of Tianwei Video, Ciwen Media, and the daily limit of Beijing Culture. According to the news, the trial operation of the National Cultural Big Data Trading Center will be launched at 10:00 on August 31, 2022. Guosheng Securities believes that under the catalysis of policy improvement and new technology, the media is at the bottom of the valuation + low allocation of funds + new technology drive, and the overall attractiveness of the sector is gradually increasing. Combined with the frequent recent policies to support and guide the development of the media sector, the increase in support is expected to help the sector’s beta repair. At the same time, under the guidance of the policy, companies clarify the future development direction and path, and it is expected to form a resonance between fundamentals and policies in the future. Follow-up recommendations focus on the business progress of companies with new technologies such as VR and Metaverse, and stocks with good fundamentals in the long run. The tourism stocks moved up in the late morning. Among them, Guilin Tourism once hit the daily limit, and individual stocks such as Tibet Tourism, Yunnan Tourism, and Zhangjiajie followed suit. According to data from the Ctrip platform, from August 1 to August 25, the number of domestic travel orders increased by nearly 10% compared with the same period in July, with the growth of transportation categories represented by air tickets leading the way. In addition, with the approaching of the Mid-Autumn Festival and National Day holidays, the market's expectations for the recovery of the domestic tourism industry have also increased significantly. Combined with the fact that the tourism sector has experienced a period of time in the early stage, the overall ranking is relatively low, to meet the hype appeal of funds avoiding high and low, so this A theme may be repeatedly active in the recent disk. However, it should be noted that the tourism sector will face a large number of traps left by the callback at the end of June. In the context of the relatively poor market continuity, it is still difficult to resolve it in one fell swoop. Therefore, the follow-up is still Need to pay attention to the risk of pressure pullback. In a word, today’s morning market once again showed a general decline pattern. Nearly 4,300 stocks in the two cities fell, less than 600 stocks were in the red, and nearly 50 stocks fell by the limit or by more than 10%, while the high-level stocks on the track were still the main force in the market sell-off. As of now, the risk of the track direction has not been fully released, and it is still advisable to see more and do less before a stop signal appears. On the other hand, the low-level weights of large consumption, medicine, finance, and real estate are relatively contrarian, and have formed a certain support for the overall market. Remaining strong in the follow-up trend is expected to drive the overall style of the market to switch. Noon daily limit analysis Figure 2. [Market News Focus] 1. Financial Associated Press reported on August 31, Li Chao, vice chairman of the China Securities Regulatory Commission, said on the 31st that recently, the China Securities Regulatory Commission, together with the National Development and Reform Commission and other relevant parties, have formulated plans to accelerate the promotion of infrastructure. The ten measures for the normalized issuance of REITs include: promoting the establishment of a comprehensive promotion mechanism led by provincial and municipal governments in key areas and involving multiple departments, and strengthening work overall coordination; holding key area meetings, strengthening policy guidance and market training, and promoting the formation of project supply echelons; Optimize the pilot project recommendation procedure, study and clarify the working time limit, and improve work efficiency; on the basis of strictly controlling the quality of the project, unify the audit concept, simplify the audit procedure, and optimize the registration process; clarify the relevant industry access standards to improve transparency and predictability , strengthen continuous supervision; expand the types of pilot projects, solve new problems faced by "new types" projects, and guide the development of the market; strengthen professional staffing, strengthen the resource guarantee required for normalized issuance; accelerate the pilot of private enterprise REITs, and launch the "green light" as soon as possible. "Investment cases; promote the implementation of the first batch of expansion projects as soon as possible; promote REITs legislation, and actively cultivate professional REITs managers and investor groups. 2. Financial Associated Press reported on August 31 that Buffett's Berkshire Hathaway sold 1.33 million BYD H shares on August 24. The reporter contacted BYD's investor relations department as an investor. We also only knew when we saw the disclosure, and we didn't know it in advance. Regarding the various speculations in the market, the above-mentioned people said that there are many statements related to the market, and the specific real situation (reason) is not known, so there is no need to over-interpret it. In addition, the above-mentioned person also stated that BYD has not disclosed any major events recently, and the company's operations are all normal. (21 Finance)

(Responsible editor:Aerospace stock)

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