On Thursday, A-shares opened lower and moved lower throughout the day, with all three major indexes falling more than 1%, with the GEM index leading the decline. As of the close, the Shanghai Composite Index closed at 3122.35 points, down 1.13%; the Shenzhen Component Index closed at 10321.44 points, down 1.84%; the GEM Index closed at 2056.98 points, down 2.11%. Individual stocks fell more than they rose, with more than 4,500 stocks on the Shanghai and Shenzhen stock exchanges falling.
In terms of funds, the transaction volume of Shanghai and Shenzhen stock markets yesterday was 766.8 billion yuan, a decrease of 4.5 billion yuan from the previous trading day. Northbound funds sold a net 7.072 billion yuan throughout the day, of which 3.879 billion yuan was sold on the Shanghai Stock Connect and 3.193 billion yuan was sold on the Shenzhen Stock Connect.
On the market, brokerage stocks rose to "protect the market", with Chuang Securities rising by more than 6%; game stocks bucked the trend and strengthened, with Holley Technology and Dasheng Culture reaching their daily limit. The trend of Huawei concept stocks breaks down, Huaying Technology has 5 boards in 6 days, and Xiling Information and Hanyi shares have reached their daily limit. Chip stocks collectively adjusted, with photoresist leading the decline. Tongyi Shares and Wavelength Optoelectronics fell by more than 10%, and SMIC fell by more than 8%.
Brokerage stocks surged due to shock
Yesterday, the concept of brokerage firms was shocked and rose. Chuangliang Securities rose by more than 6%. Guosheng Financial Holdings, Cinda Securities, Compass and other stocks followed suit.
Recently, favorable policies for the securities industry have emerged one after another, and the operating environment of securities firms is expected to further improve. It is estimated that the net profit of the securities industry will increase by 18.85% year-on-year in 2023, and the overall performance of the industry will achieve a moderate recovery. The policy catalyzed the improvement of industry valuation. At present, the sector valuation is approaching the historical bottom, which has obvious allocation value.
Since the beginning of this year, there have been frequent positive policies for the securities industry, such as lowering the minimum reserve payment ratio to improve the efficiency of securities firms' capital utilization, lowering refinancing costs to increase market activity, etc. We are optimistic about the recovery of the securities industry's full-year performance and the restoration of sector valuations.
Apple concept stocks generally fell
Yesterday, Apple concept stocks generally fell. Sector leader Luxshare Precision once fell by more than 7% during the session and closed down by more than 4%. Yingtong Communications fell by the limit, and Qiangrui Technology, Amway Shares, etc. also fell.
On the news, Apple's stock price fell by more than 3% overnight. The European Union announced that six technology companies, including Apple, Amazon, and Microsoft, will be included in the first batch of services regulated by the Digital Shopping Mall Act. These companies will bear the responsibilities stipulated in the "Digital Market Act" such as not to abuse their market allocation to suppress or acquire competitors, or to establish links with competitors.
It is reported that the bill is the largest digital regulatory bill in European and American history. It aims to curb the monopoly of large technology companies and requires them not to abuse their market allocation to suppress or acquire competitors, and not to forcefully push advertisements or install software without users' consent. , otherwise you will face a fine of up to 10% of your turnover.
Agency: Structural market conditions are expected to continue
Looking ahead to the market outlook, CITIC Securities stated that this year’s semi-annual reports of listed companies show obvious characteristics of the bottom of the earnings cycle. Starting from the third quarter, A-shares are expected to usher in a new round of upward earnings cycle, in which high-end manufacturing and service consumption are expected to remain high. The boom and profit increase mainly come from the bottoming out of the price side of upstream resource products, as well as the marginal boost to industry-wide demand from the intensive introduction of policies.
Changsheng Securities stated that from a technical perspective, if the Shanghai Stock Exchange Index breaks through and stabilizes at 3230 points in the future, it can be regarded as a strong reversal. Considering that the RMB is still weak in the short term, the main board may be dominated by shock consolidation, but the structural market is expected to continue. , advocating paying attention to Huawei concepts, semiconductor equipment, semiconductor materials, chip design and other technological directions, and focusing on bargain hunting in operation.