From: Yuanda Information Research Institute.
Analyst: Liu Liying.
Practice registration number: A0190519050001
Published date: February 29, 2024.
Market indices rebounded and sentiment warmed
Main content:
Market Overview
In February 2024, most of the major indices in the domestic market appeared**, among which the STAR 50 Index rose the most by 1794%。Among the first-level industries of Shenwan, affected by factors such as OpenAI's release of SORA and the benefit of the AI industry, the communications, computer, media, and electronics industries performed well, and the communication industry rose the most by 1952%。Recently, the market trading activity has rebounded, and the market sentiment has warmed.
Macroeconomics
The construction of the capital market continues to release positive signals: On February 7, the first announced the decision to appoint Comrade Wu Qing as the chairman of the first supervision and management committee of China; From February 18 to 19, the China Securities Regulatory Commission held a series of symposiums to listen to opinions and suggestions from all parties on strengthening capital market supervision, preventing and resolving risks, and promoting the high-quality development of the capital market. On February 27, the China Securities Regulatory Commission held a symposium on the construction of the rule of law in the capital market to listen to opinions and suggestions on improving the basic system of the capital market and strengthening the protection of the rule of law.
During the Spring Festival holiday in 2024, the number of domestic tourism trips and tourism consumption will increase compared with the pre-epidemic level, the tourism market will resume growth, and the overall economic data for the Spring Festival will exceed expectations.
In January 2024, the increase in the scale of social financing will be 65 trillion yuan (wind consensus expectation 5..)8 trillion yuan), 506.1 billion yuan more than the same period last year. In January, the new social finance achieved more than expected growth under the high base of the same period last year, and the overall market sentiment was optimistic.
Domestic CPI and PPI data for January 2024: CPI decreased by 08% (previous value -0.)3% and 0 expected53%), month-on-month **03% (previous value 0.)1%）。PPI fell 25% (previous value -2.)7%, expected -25%), down 02% (previous value -0.)3%）。In January, the CPI fell year-on-year due to the high base of the Spring Festival in the same period last year, but continued to ** month-on-month, and the year-on-year decline in PPI narrowed. Recently, the intensity of policy support for economic development has continued to increase: for example, the LPR was lowered more than expected in February, and the PSL continued to support the real economy; The meeting of the Financial and Economic Committee studied the issue of large-scale equipment renewal and trade-in of consumer goods.
Strategy
1.opportunities for new quality productivity and consumer industries brought about by the policy support of the two sessions; 2.investment opportunities for market value management of central enterprises; 3.opportunities for a robust investment strategy with high dividends; 4.TMT industry: The recent release of SORA has aroused great concern about AI in the market, and we believe that artificial intelligence will become the main line driving the development of the TMT industry, and it is recommended to pay attention to investment opportunities in related sectors such as computing power.
Risk Warning
short-term market volatility risk; economic volatility and policy uncertainty; Overseas economy is declining, and demand is falling.
Yuanda Information Research Institute is affiliated to Hebei Yuanda Information Technology Co., Ltd. *** Abbreviation: Yuanda Hebei Yuanda), Director of Yuanda Information Research Institute: Wu Qidi.