In the trading on February 5, the three major indices of the A** market - the Shanghai Composite Index, the Shenzhen Component Index and the ChiNext Index - all showed a weak trend, with significant losses throughout the day. The Shanghai Composite Index fell 2%, and the Shenzhen Component Index fell 2%.56%, and the ChiNext index fell 192%, both hitting a new low on Friday. On this trading day, there were more than 5,200 stocks in Shanghai and Shenzhen, of which nearly 2,650 fell by more than 9%.
At the same time, other major global ** companies are also showing volatility. The FTSE China A50 Index was trading at 0 on Friday night66% on the basis of today's slight **06%。Japan's Nikkei 225 and Topix both opened with gainers, reaching 07% and 07%。South Korea's KOSPI index was unchanged from the previous session.
Last Friday, the U.S. market performed well, with the Dow Jones index of 035% to close at 3865442 points; The Nasdaq and S&P 500 also saw significant gains**, rising 174% and 107%。After a week of trading, the Dow, S&P 500 and Nasdaq were each **. 38% and 112%。
China Securities Construction Investment** pointed out that the current market adjustment is mainly due to capital and micro liquidity factors. Historically, similar market passivity** has been common, and markets have often recovered quickly and dramatically. At present, the market overshoot signal is obvious, superimposed on the impact of the "Spring Festival effect". The agency advises investors to first focus on sectors with low valuations, low expectations, and low chip pressure, and wait patiently for the market to stabilize. In the medium to long term, a further recovery in the market will need to rely on strong policy push, bottoming out fundamentals, and incremental capital inflows. Industries recommended to focus on include electricity, electrical equipment, communications, coal, building materials, building decoration, etc.
China International Capital Corporation (CICC) said that the current market valuation, trading and other sentiment indicators are still in the historical bottom area, investors are less willing to enter the market, and incremental funds are limited. However, considering that the recent policies of stable growth, market stability and stable expectations are being introduced and implemented one after another, positive policy changes are conducive to addressing short-term interest rate risks and boosting investor confidence. There is still momentum for the follow-up market to continue to repair. Although the market may fluctuate in the short term due to the holiday factors around the Chinese New Year, there is no need to be overly pessimistic about the medium-term performance of A-shares. In terms of allocation, investors should pay attention to the direction of policy adjustment in the short term, focus on grasping investment opportunities in beneficiary areas, and guard against the risk of excessive gains.