February 19 is the first trading day of the A-share Year of the Dragon, and the A** field ushered in a "good start", with all three major indexes **, and the Shanghai Composite Index recovering 2,900 points. The AI-related sector rose sharply driven by the catalysis of the SORA concept, with more than 4,200 A** fields
Analysts said that at present, the valuation of the A** market is still at the bottom, and investor sentiment is expected to continue to improve.
AI concept stocks are eye-catching
On February 19, the first trading day of the Year of the Dragon in A-shares got off to a good start, with the Shanghai Composite Index **156% at 291054 points, recorded four consecutive yangs, standing above 2900 points; SZSE Component Index**093% at 890233 points; GEM refers to **113% at 174642 points; The STAR 50 Index rose 157% at 76332 points; The Beijing Stock Exchange 50 Index rose 322%。The turnover of A shares was 96468.9 billion yuan, of which the turnover of the Shanghai Stock Exchange was 44214.8 billion yuan, ** turnover of 51513.9 billion yuan. The number is 4,258 and the number is 1,037.
From the perspective of the disk, multimodal AI concept stocks set off a "rising tide", and the SORA, computing power, and CPO sectors detonated the market; Coal and oil indices performed strongly. From the perspective of industry sectors, most of the first-class industries in Shenwan, and the communications, media, and coal industries are among the top gainers, with ** 41% respectively; There are only non-bank finance, agriculture, forestry, animal husbandry and fishery, medicine and biology, and power equipment industries**.
In terms of funds, wind data shows that the net outflow of main funds in Shanghai and Shenzhen on the 19th was 480.9 billion yuan, of which the net outflow of the main funds of the GEM was 80.2 billion yuan; The CSI 300 main capital outflow was 261.5 billion yuan. In terms of industry sectors, the communications, media, and computer industries ranked first in terms of net inflows, reaching 17 respectively9.6 billion yuan, 130 billion yuan, 94.9 billion yuan.
Funds are used to enter the market through ETFs
The market is inseparable from the watering of capital "living water". Since the announcement on October 23, 2023 that the ETF will continue to increase its holdings in the future, large funds have begun to continue to flow into the ETF and inject liquidity vitality into the market.
Wind data shows that as of February 8, in less than 4 months, A-share ETF funds had a net inflow of 4,3589.6 billion yuan. Among them, E Fund CSI 300 ETF and Harvest CSI 300 ETF had a net inflow of more than 70 billion yuan, Huatai Pinebridge CSI 300 ETF had a net inflow of more than 60 billion yuan, and ChinaAMC CSI 300 ETF had a net inflow of more than 50 billion yuan.
Judging from the trading of A** ETFs on February 19, many broad-based indexes** are still the "favorites" of investors.
Wind data shows that as of February 19**, Huatai Pineapple CSI 300 ETF rose 080%, with a turnover of more than 5 billion yuan; ChinaAMC SSE 50 ETF rose 075%, with a turnover of nearly 4.2 billion yuan; E Fund ChiNext ETF rose nearly 1%, with a turnover of more than 3.8 billion yuan; Huatai Pineapple CSI 2000 ETF rose more than 2%, with a turnover of nearly 4 billion yuan.
From the perspective of the primary market, on the 19th, the first batch of CSI A50 ETFs reported by ten public offering institutions was officially issued. According to the ** announcement, the upper limit of the initial issuance of ten CSI A50 ETFs is 2 billion yuan, and the total number of valid application shares subscribed exceeds 2 billion, which means that the market may usher in 20 billion yuan of incremental funds.
For the entry of incremental funds into the market, the spokesman of the China Securities Regulatory Commission previously said that the China Securities Regulatory Commission will continue to coordinate and guide various institutional investors such as public offerings, private placements, companies, social security, insurance institutions, and annuities to increase their efforts to enter the market, encourage and support listed companies to repurchase and increase their holdings, introduce more incremental funds for the A** market, and make every effort to maintain the stable operation of the market.
Investor sentiment is expected to continue to improve
A** field valuations are still at the bottom of history. Combined with the performance of the external market during the long holiday, as well as better holiday travel and consumption data, investor sentiment is expected to continue to improve. Li Qiusuo, chief analyst of domestic strategy at CICC's research department, said.
Xun Yugen, chief economist and director of the research institute of Haitong, believes that from the comprehensive perspective of the adjustment time and space in the early stage and the valuation cost performance dimension, A-shares may have been bottoming, and the positive factors of the recent capital and policy side have been accumulating, and the market may usher in the first wave of the bottom
In terms of allocation ideas, Zheng Xiaoxia, deputy director and chief economist of Hua'an ** Research Institute, believes that in the short term, we should grasp the market window and look for varieties with large elasticity, that is, industries that have fallen or risen less in the early stage and have catalysts in the near futureIn the medium and long term, it is recommended that investors pay attention to the direction of industries with strong certainty and high prosperity.
Original**: China ** Daily, China Securities Network.