Changsha Evening News, Changsha, January 30 (Reporter Zhou Congxiao) Yesterday, the market adjusted throughout the day, and the Shanghai Composite Index fell 092% fell below 2,900 points, and the Shenzhen Component Index fell 206%, the GEM index fell 349% hit a new low. The turnover of the Shanghai and Shenzhen markets was 805.2 billion, and northbound funds sold a net of 5 throughout the day9.2 billion. On the disk, the prefix plate continues to be strong; The IPO opened actively; Shanghai local stocks diverged. **In terms of CPO, BC batteries, AIGC, computing power leasing and other sectors were among the top decliners.
On the news side, the State-owned Assets Supervision and Administration Commission held a meeting on the assessment and distribution of enterprises and local SASAC on the 29th. **State-owned Assets Supervision and Administration Commission said that on the basis of the early pilot exploration and accumulation of experience, we will comprehensively promote the market value management assessment of listed companies, adhere to the equal emphasis on process and results, equal incentives and constraints, and quantitatively evaluate the market performance of listed companies controlled by ** enterprises. In terms of promoting the cultivation of new quality productivity, the SASAC will strengthen the "two-line" assessment of R&D investment and output, and highlight the main position of enterprises in scientific and technological innovation. According to the Ministry of Finance, from January to December 2023, the total operating income of state-owned enterprises was 857306100 million yuan, a year-on-year increase of 36%；The total profit of state-owned enterprises is 46332800 million yuan, a year-on-year increase of 74%。
In terms of institutional views, Soochow ** believes that the bottom of the current market downward cycle has arrived, and the odds and fault tolerance rates of the bottom range are high, even if some factors are less than expected, the downward pressure on stock prices is relatively limited, and should be viewed positively. From a fundamental point of view, the trend decline in U.S. bonds in 2024 will lead to a narrowing of the nominal growth gap between China and the United States and a recovery in global demand, and the domestic and foreign economies are expected to resonate. In terms of policy, this week, the domestic "double decline" exceeded expectations, and policies such as the reform of Pudong New Area, the liberalization of financial and foreign investment restrictions, and the market value management of central state-owned enterprises have all released positive signals. From the perspective of funds, the "national team" may continue to increase its holdings of ETFs, supporting the bottom, and the pessimism in the market has also improved significantly. We judge that the negative feedback of this round of funds has been basically cleared, and looking forward to the future, the deviation of stock prices from the fundamentals is expected to gradually be repaired.
Wang Zhenhuai, chief investment adviser of the Yangtze River ** Hunan Branch, said that on the market yesterday, the new shares opened higher. On the news, the China Securities Regulatory Commission officially announced that it has further optimized the securities lending mechanism. Specifically, it includes: first, the full suspension of the lending of restricted shares (implemented from January 29); The second is to adjust the market-based declaration of refinancing securities from real-time availability to next-day availability, and limit the efficiency of securities lending and borrowing (implemented from March 18). It can be seen from the intraday that the new regulations have boosted confidence in the speculation of the new stocks, but because the industry distribution of the new shares is relatively scattered, it is difficult to form a joint force of the plate, so it can be regarded as a superposition of the hype of the first theme for the new stocks.
Wang Zhenhuai said that on the first look, the three major indexes fell again, among which the gem index led the decline and hit a new low again under the drag of photovoltaic and AI concept stocks, and the Shanghai index was relatively strong under the escort of the Chinese word and the banking sector. The weakening of the growth track, on the one hand, stems from the deviation of the market style, and the core of the current market speculation lies in the central state-owned enterprise target represented by the Chinese prefix, due to its large size, it is inevitable that it will also form a certain siphon effect for the rest of the direction; On the other hand, whether it is AI or PV, the market's growth concerns have not been eliminated, and any rumors of negative news are prone to panic selling pressure in the market. In terms of response, in the current environment of structural differentiation of the market, it is a prudent choice to follow the direction of the main line. The views are for reference only, the market is risky, and investment should be cautious.