On Thursday (April 6), the three major stock indexes fluctuated and settled down slightly. By the end of the morning, the Shanghai Composite Index fell by 0.04% to 3311.08 points; the Shenzhen Component Index and the ChiNext Index fell by 0.14% and 0.27% respectively; the Shanghai and Shenzhen stock markets had a total turnover of 725.79 billion yuan. Fall more and rise less.
From the perspective of funds, as of April 4, the balance of financing in Shanghai, Shenzhen and Beijing totaled 1,619.522 billion yuan, an increase of 898 million yuan from the previous trading day. Among them, the balance of financing was 1,524.292 billion yuan, an increase of 1.482 billion yuan from the previous trading day; the balance of securities lending was 95.110 billion yuan, a decrease of 584 million yuan from the previous trading day.
Regarding the market outlook, some institutions said that the improvement of A-share earnings supports the bottom range of the market, and in terms of operation, wait for the opportunity of rotation.
Technically, after stepping back on the 60-day moving average to gain support, the Shanghai Stock Exchange Index rose for two consecutive days, standing on all short-term moving averages, and short-term multi-party strengths are dominant. Under the guidance of the heavyweight stocks represented by the SSE 50 Index, if the volume can follow up strongly, the market is expected to challenge the previous high of 3342.86 points, which can be positively bullish. The GEM refers to the overall weakening of leading stocks in the artificial intelligence sector, and failed to attack the 60-day moving average, and may face strong adjustment pressure in the short term. In the context of the fact that quantitative funds continue to boost the ups and downs of hot topics, it can be seen that although the volume of the two cities has expanded significantly, there is still a strong seesaw effect between the sectors, and the fluctuations are relatively large. It is still necessary to pay attention to the grasp of the rhythm of the market, and do not blindly chase the rise. In terms of sectors, you can invest in sectors such as state-owned enterprise reform, semiconductors, and big finance at low prices, and wait for the timing of the rotation, which may be a good choice under the current market. In addition, industries such as precious metals and pharmaceutical trade were among the top losers.
A-share profit improvement supports the bottom range of the market. The bankruptcy of Silicon Valley Bank did not cause a systemic risk, but before the subsequent risk fermentation and the Federal Reserve's interest rate meeting in March, it is difficult to have a significant improvement in overseas risk appetite, which will limit the incremental foreign capital inflow in stages. For A shares, the disturbance of external factors is relatively limited. First, whether in terms of valuation or risk premium, the current price/performance ratio of A-shares is relatively reasonable; second, recent high-frequency data has successively verified the moderate recovery of the domestic economy, and corporate earnings are likely to continue to improve, forming a support for the bottom of A-shares. In terms of structure, it is advocated to pay attention to the fields of "technology" and "data" that policies have repeatedly emphasized.
In terms of hotspots, as of the close on the morning of April 6, the CPO concept, AI chip and other sectors led the gains. In addition, sectors such as Kuaishou Concept and Radio and Television Department were among the top losers. Specifically, the CPO concept sector rose by 7.40%. In the meantime, Yuanjie Technology’s daily limit was 20CM, and its stock price hit a new high since its listing.
In this regard, CPO, as a new generation of optoelectronic integration technology, has received extensive attention and layout from global technology giants. Co-package optics (CPO, co-packagdoptics) is a new type of optoelectronic integration technology, which packages optical devices such as lasers, modulators, and optical receivers at the chip level, and directly integrates them with the circuits in the chip. Connected to improve the performance and power efficiency of the communication system. In the era of computing power, the power consumption limit of traditional pluggable optical modules is highlighted, and CPO reduces costs and increases efficiency to welcome development opportunities. Advocate attention: domestic optical chip IDM manufacturers exploring silicon photonics technology: Everbright Huaxin, Yuanjie Technology, Shijia Photonics; silicon photonic chip integrated high-speed optical engine, silicon photonic equipment and other projects under research manufacturers: Tianfu Communications; silicon photonics field The optical module manufacturers in the layout: Zhongji InnoLight, Xinyisheng, Accelink Technology, Borch Technology, Lishi Optoelectronics, etc.