As of 11:09 on February 6, 2024, STAR 100 ETF**(588220)**256% with a turnover of 53.2 billion yuan, commission ratio -314% and a turnover rate of 964%, active intraday trading!
The STAR 100 ETF** closely tracks the SSE STAR Market 100 Index, and as of 11:09 on February 6, 2024, among the index constituents, Tebao Biotech **860%, BLT**783%, Yuncong Technology, BeiGene, etc.
Data**: Wind, February 6, 2024.
The PMI of Caixin's services sector only fell slightly, still significantly higher than the tolerance and dryness line. Combined with the performance of the service industry PMI released by the Bureau of Statistics in the previous period, evidence is once again provided that the decline in the sales of commercial housing in January is likely to be within the expectations of enterprises and has not affected the fundamentals (note: real estate belongs to the service industry). The current volatility in capital markets is more likely to come from valuation fluctuations due to liquidity and sentiment.
Source**: China Merchants Bank.
The prosperity of the demand side is still shrinking. At the beginning of the year, the prosperity of domestic and foreign demand in the manufacturing industry improved month-on-month, but it was below the boom and wither line for the fourth and tenth consecutive months respectively. In January, the index of new orders and new export orders in the manufacturing industry rose by 03pct、1.4pct to. 2%, the month-on-month increase in external demand is greater than that of domestic demand.
Faster repair on the production side. Some enterprises prepared production and stocked up before the holiday, and the manufacturing production index in January rose seasonally by 1 month-on-month1pct to 513%。Employment continued to be under pressure, with the manufacturing, construction and services employment indices all remaining in contraction territory since the second quarter of last year.
** The index fell month-on-month. As the recovery of the production side continues to be stronger than that of the demand side, the manufacturing ex-factory ** and service charge** indices have been in the contraction range since the fourth quarter of last year. In the off-season, the repair of the demand side of the construction industry slowed down, and the fee ** index fell month-on-month, still in the expansion range. The manufacturing raw materials ** index fell by 11pct to 504%, the cost pressure of enterprises eased slightly.
On the inventory side, sluggish sales and the downturn affected the willingness of enterprises to purchase, and the inventory of manufacturing enterprises continued to slow down. In January, the inventory index of raw materials and finished products was in the contraction range. It is worth noting that the difference between the new orders and the finished goods inventory index turned negative for the first time since the second quarter of last year.
Source**: China Merchants Bank.
According to the arrangement announced in January, the RRR cut funds have entered the release stage. According to past data, market liquidity may gradually improve this week, and the capital market may appear**. However, the continued substantial** may have to wait for property sales to improve or for the Fed to cut interest rates to bring more sustained liquidity.
Source**: IFC**.
* In the short term, the market believes that the performance of ** stocks is still better, because most of the new funds may not be familiar with general listed companies, and they will still choose white horse stocks with obvious low valuations; Some growth stocks and small-cap stocks** are weak, but many fundamentals are not bad, and the current valuation level has hit a new low, so investors can consider ** if they can bear the possible liquidity risks in the short term**.
Penghua STAR 100 ETF** (588220) closely tracks the SSE STAR Market 100 Index, and trading continues to be active!
Science and technology related products: Science and Technology Innovation 100 ETF** (588220).
*There are risks and investment should be cautious.
STAR 100ETF**(SH588220)$
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