A shares return to 3000 points!
Today, the three major A-share indexes strengthened, as of press time, the Shanghai Composite Index rose more than 1%, back to 3,000 points; The ChiNext Index and the Shenzhen Stock Exchange Component Index rose by more than 2%. The computing power industry chain, robots, automobile industry chain and other directions are among the top gainers, with nearly 5,000 stocks in Shanghai, Shenzhen and Beijing, and a net inflow of northbound funds exceeding 12 billion yuan. So, what happened?
It is worth noting that there is a small essay in the market saying that the computing power subsidy will be issued soon; In addition, Bitcoin, a virtual currency related to computing power, has soared recently. On Tuesday, Bitcoin hit a two-year high above $57,000 in Asian trading on signs of heavy institutional buying, while smaller rival Ether breached $3,200 for the first time in two years, witnessing history. The surge in two major virtual currencies has also sparked a frenzy across the market.
In this regard, analysts believe that the main reason is that there are large investors**. According to cryptocurrency investor and software firm MicroStrategy (MSTRo) Information disclosed on Monday that Bitcoin has exceeded 10% in two trading days**, and the company recently spent 1$5.5 billion bought about 3,000 bitcoins.
A-shares rose sharply. Today, the A** field returned to 3000 points. The heat of the whole market lies in computing power, and many "big guys" such as Sugon have a daily limit or are close to the daily limit, and this sector has driven semiconductors and large models, making the momentum of longs continue to increase.
There are two reasons for the interpretation of the computing power sector: First, there are market rumors that the computing power subsidy is about to be issued. But this rumor has not been officially confirmed; The second is the breakthrough of Bitcoin, which has led to the explosion of virtual currencies across the board. In fact, behind the virtual currency** is also the embodiment of the value of computing power. As we all know, the ability of bitcoin production equipment to obtain revenue depends on the size of computing power. With the continuous growth of the computing power of the whole network, it has gradually become a chip performance competition, and the computing power competition promotes the development and reform of chips.
So, how strong will the sustainability of the computing power sector be? Analysts believe that from an event-driven perspective, the heat in this sector is likely to persist for some time. Because there is an important concept involved in this, that is, new quality productivity. Generative AI is one of the nine future industries of new quality productivity, and independent, controllable and abundant computing power** is the premise of development, and new quality productivity is essentially advanced productivity, which is dominated by innovation and can achieve a significant increase in total factor productivity; Zheshang believes that generative AI is expected to bring about a jump in social productivity, marking the beginning of the "fourth industrial revolution", and the cornerstone of industrial development is abundant and low-cost computing power**, from this point of view, it is imperative for China to vigorously develop domestic computing power.
In addition, the prelude to the second round of "industry AI information innovation" is expected to slowly kick off in the second half of the year. Zheshang ** said that AI has a broader commercial value and market demand, a clearer overseas ** ban, and at the same time, domestic computing power ** business has better technology accumulation, and also has rich adaptation experience accumulated through CPU information innovation, so the time point for the industry AI information innovation to start will be faster, and domestic manufacturers such as Shengteng and Haiguang are expected to launch new AI chip products this year, and at the same time, ecological adaptation will also accelerate, so that the comprehensive cost-effective gap between new products and NVIDIA products will gradually narrow. Drive commercial customers to actively purchase more domestic computing power and start the process of AI information innovation in the industry.
Bitcoin has gone crazy.
Bitcoin weighed $50,000 during the Chinese New Year, which has been tepid in the past week, but suddenly soared again this week. It broke through $54,000 on Monday and $57,000 on Tuesday, an increase of more than 8% at one point.
According to cryptocurrency investor and software firm MicroStrategy (MSTRo) Information disclosed on Monday showed that Bitcoin exceeded 10% in two trading days, with the company spending $1 recently$5.5 billion bought about 3,000 bitcoins. In addition, the recent approval of exchange-trading** (ETFs) in the United States to hold Bitcoin has also boosted the largest cryptocurrency by market capitalization. On Monday, several ** surged in trading volume, and cryptocurrency-related companies also appeared**, which contrasted with the nervous **. Despite the delicate macroeconomic environment, the emerging asset class of crypto finance continues to fascinate due to its high return potential as the Federal Reserve raises interest rates. Even FTX's setback in 2022 didn't dampen that sentiment.
Ryan Rasmussen, an analyst at Bitwise Asset Management, said that yesterday was the settlement day for Bitcoin, which led to what we are seeing that we are approaching a window where we typically see traders preparing ahead of the Bitcoin halving, which will happen in late April. I suspect this is the day when people start taking bullish positions before the halving.
JPMorgan Chase's Nikolaos Panigirtzoglou noted in a recent report that after the pause in January, interest in cryptocurrencies rose in February and became a significant driver. He pointed to three key catalysts that help explain the new interest: the Bitcoin halving and Ethereum's next technology upgrade (both of which JPMorgan believes are already priced in) and the potential approval of a spot Ethereum ETF.