First, now ** is close to the bottom or the historical bottom, investors do not need to panic. There will be a strong wave after the Chinese New Year. Because, since the promulgation of the new repurchase regulations on December 15, 2023, many listed companies have announced buybacks and increased holdings**, bringing hundreds of billions of incremental funds to the market. However, it is the end of the year, and it is difficult for listed companies to have funds in place for a while, so many listed companies will choose to repurchase and increase their holdings of their own companies after the Spring Festival. On January 29, 2024, ** State-owned Assets Supervision and Administration Commission (SASAC) issued a notice that the market value management assessment of listed companies controlled by central enterprises will be fully launched. These specific measures will also be implemented after the Chinese New Year. It is now the end of the year, and there is a shortage of funds in the market, coupled with the irrational cutting and selling of meat by stockholders, ** has overfallen. After the Spring Festival, there will be some rational funds flowing back to **. 2024 is the US interest rate cut cycle, and the expectation of US interest rate cuts will also strengthen after the Spring Festival, and there will be smart international funds flowing back to the Chinese market in advance. A variety of favorable factors will push China **strong** after the Chinese New Year in 2024.
2. Meta, which announced a 50 billion repurchase plan, set a new record for the single-day market value of U.S. stocks, rising by $197 billion in one day. Artificial intelligence has fully benefited U.S. stocks, not only Meta has risen sharply, Microsoft and Nvidia have also performed well, and the United States is driving economic recovery through the development of science and technology, and at the same time promoting the development of **. What about us? Although China's artificial intelligence applications are indeed doing well, they are subject to the chip being stuck in the neck and the overall economic downturn, many technology companies have not generated income from their investment in the field of artificial intelligence.
3. In January this year, the size of non-monetary ETFs was 18 trillion yuan, a decrease of 493 from the end of 2023100 million yuan, a decrease of 27%, the reason for this is that the net value of non-monetary ETFs fell due to the persistence of the A** market in January, which affected the scale.
However, from the analysis of the change in the first share, non-monetary ETFs have shown a growth trend. In January, the total number of ** shares of non-monetary ETFs was 1900 million copies, an increase of 903 from the end of 20239.7 billion copies, an increase of 91%。
It shows that although the first price has fallen, investors have not redeemed non-monetary ETFs on a large scale, and more funds have entered the non-monetary ETF market, showing strong confidence.
Fourth, the trading of northbound funds has a positive significance for **. The cumulative net amount of northbound funds reached 99 during the week3.8 billion yuan. This is the first time since November last year that the net ** in a single week has exceeded 9 billion yuan.
Why are northbound funds starting to net at the moment? The A** field has experienced continuous **, and the valuation of some high-quality ** has appeared large, which provides a better layout opportunity for foreign capital.
In addition, there have always been structural opportunities for foreign investment, attracting diversification from foreign investors. Whether it is finance or consumption, foreign capital likes to invest. These are the directions in which Northbound funds are actively participating this week. It is likely that the amount of northbound funds will continue to increase in the future, providing impetus for the acceleration of the start-up.
5. CITIC**: The current pledge risk is generally controllable.
The CITIC research report pointed out that since 2018, with the continuous standardization of pledge behavior, pledge risks have continued to be cleared. As of January 26, 2024, the staking scale has been significantly reduced, and the overall risk has decreased significantly; From a structural point of view, the risk of liquidation may be mainly concentrated in large-capitalization companies, and due to the lower pledge ratio of large-capitalization companies and or better supplementary pledge ability, the pledge risk is controllable. Equity pledge involves bank pledge and brokerage pledge, once there is a problem with bank pledge, that is the country's money, from this point of view, the country will not let it develop, but the focus is on the problem of liquidation of the two financial positions, which has begun to be liquidated last week, looking forward to next week's development!