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[stock Market Review]
Jul 10,2019 15:59CST
By the end of the day, the Prev index closed down 0.44% at 2915.30 points, the Shenzhen Composite Index closed at 9166.15 points, down 0.35%, and the gem index closed at 1510.43 points, down 0.48%. A total of 331.6 billion yuan was traded in the two cities, down from 351.774 billion yuan on the previous trading day.
The content below was translated by Tencent automatically for reference.

SMM7 month 10 news: stimulated by the news side, market sentiment rose sharply, Science and Technology Innovation Board main bid, Huawei concept and other topic stocks strengthened, brokerage stocks again active to drive the index continued to rise. Intellectual property rights, chemical fertilizers, domestic chips, domestic software sectors also rose among the top. Gold, electronic cigarettes, rare earth permanent magnets and other plates led the decline in the two cities. The stock index continued to fall in the afternoon, with the index down 0.8% at one point and recovering slightly in late trading, narrowing the decline. On the disk, the market sentiment was thwarted, the capital wait-and-see mood was strong, the transaction volume shrank. On the subject matter, Huawei Hayes concept led up, medical, liquor and other strong, agricultural stocks plummeted.

By the end of the day, the Prev index closed down 0.44% at 2915.30 points, the Shenzhen Composite Index closed at 9166.15 points, down 0.35%, and the gem index closed at 1510.43 points, down 0.48%. A total of 331.6 billion yuan was traded in the two cities, down from 351.774 billion yuan on the previous trading day.

Plates and individual stocks

Affected by Sino-US trade and Huawei news, the semiconductor sector performance is relatively strong, as of the close, Shengbang shares closed, Fuhan Micro, Zhaoyi Innovation, Weir shares, Zhuo Shengwei, Guoke Micro and other stocks rose first.

Major capital inflows into the top 10

Top 10 outflows of main funds

Plate capital flow

Main net inflow into the top five sectors of the industry: scenic spots and tourism, beverage manufacturing, pharmaceutical business, optics and optoelectronics, hotels and restaurants

Main net inflow concept plate top five: medical device concept, Xiaomi concept, private hospital, flexible screen, intelligent wear

The main net inflow into the top 10 stocks: Jingfang A, Guizhou Maotai, Jinfeng Science and Technology, Ruikang Medicine, East China Medicine, New Hope, Hengrui Medicine, Guotai Junan, Foxing Medicine, Gree Electric Appliances

Review of abnormal movement

Science and Technology Innovation Board continued to be active in the concept of benchmarking, three super new materials, Zhiyun shares one word board, combined optoelectronics rose 8%, Dailer new materials, brilliant science and technology have opened up one after another.

Huawei concept was active in early trading, Zhiyun shares, United Optoelectronics, Chengmai Technology collectively rose, Shida Group rose 5%, Jinzhi Technology rose slightly.

The brokerage plate weakened unilaterally, Hualin Securities fell 4%, Zhongyuan Securities, Great Wall Securities, Oriental Securities and Tianfeng Securities fell one after another.

The plate of large aircraft changed, the limit of aviation science and technology rose and the flight control, Hongdu aviation and space communications strengthened one after another.

Elevator plate performance is active, happy elevator limit, plum wheel elevator rose 5%, Kangli elevator, Shanghai and Nanjing shares rose one after another.

Brokerage stocks are active again, Guoyuan Securities, Caitong Securities are up more than 4%, Hua'an Securities, Nanjing Securities, Guotai Junan, Guangfa Securities and other stocks followed the trend higher.

Garbage sorting plate changed in the afternoon, leading Huahong science and technology straight line sealing board, green power, Longma sanitation, airport shares, China jacaranda have strengthened one after another.

The medical device plate changed, the leading Jiuan medical straight line sealing board, Lexin medical treatment, David medical treatment, Yangpu medical treatment have strengthened one after another.

Message surface

[leaders of the High-level Economic and Trade consultations between China and the United States talk]

On the evening of 9 July, Liu he, member of the political Bureau of the CPC Central Committee, vice premier of the State Council, and Chinese leader of the China-US Comprehensive Economic Dialogue, called US Trade Representative Lettershize and Finance Minister Mnuchin to exchange views on the implementation of the consensus of the Osaka meeting between the two heads of state. Zhong Shan, Minister of Commerce, took part in the call. (CCTV News)

[the US Department of Commerce announces that it will lift the ban on the supply of Huawei]

According to several Western media reports, the US Department of Commerce will allow some US companies to continue to do business with Huawei in China and sell products to the company. The news was also confirmed on the official website of the U.S. Department of Commerce. (global Times)

[June CPI rose 2.7 per cent, PPI was flat, pork prices rose 21.1 per cent from a year earlier]

China's consumer price (CPI) rose 2.7 per cent in June from a year earlier, compared with 2.7 per cent, according to the Bureau of Statistics. Producer price (PPI) was flat in June from a year earlier, with a forecast of 0.2 per cent, compared with a previous value of 0.6 per cent. In June, the price of fresh fruit rose 5.1% nationwide, and the current price level is at an all-time high. Fresh fruit prices rose 42.7% from a year earlier, affecting a 0.71% increase in CPI. In June, pork prices rose 21.1% from a year earlier, an increase of 2.9% over the previous month, affecting CPI by about 0.45% and pork prices by 3.6% from a month earlier, affecting CPI by about 0.09%. Fresh vegetable prices rose 4.2%, down 9.1% from the previous month, affecting CPI gains of about 0.10%.

[the wording of the central bank announcement has changed and the reopening of open market operations is not far away]

On July 10, the central bank's reverse repo operation continued to shut down, and the central bank's reverse repo has been suspended for 13 working days since June 24. However, it is worth noting that the wording of today's public market business trading announcement has changed, or indicates that the day of the resumption of open market operations is not far off. The total amount of liquidity in the banking system is at a reasonable and adequate level and reverse repurchase operations will not be carried out on July 10, 2019, according to today's public market business transaction announcement. For the previous seven working days, the central bank has said the total amount of liquidity is at a high level.

The CSRC and other eight ministries and commissions jointly stepped in to "make false accounts and tell lies" to Science and Technology Innovation Board, a rare joint punishment! ]

In the pilot registration system, the act of falsifying accounts and telling lies will be included in the joint disciplinary mechanism for breach of trust. On July 9, eight ministries and commissions, including the CSRC, the National Development and Reform Commission, and the Central Bank, jointly issued "opinions on strengthening the sharing of Supervision and Information among relevant Market subjects in the pilot Science and Technology Innovation Board Registration system and improving the Joint Disciplinary Mechanism for breach of Credit." to jointly punish Science and Technology Innovation Board for falsifying accounts and telling lies in the pilot registration system of Science and Technology Innovation Board. (brokerage China)

Institutional point of view

Looking to the future, Everbright Securities pointed out that the upward logic of the market has not been destroyed, but there is a certain marginal resistance, the rising pace of the future market may slow down, the performance of the third quarter is still expected. In terms of industry configuration, there may be game opportunities in the cycle, and the overall low allocation is still recommended.

Galaxy Securities said that although the fundamentals are not clearly positive before the market is difficult to break through upward, but because A shares still have a certain margin of safety, downward pullback pressure is not great, there is a good chance that the bottom of the second quarter low. The market is expected to remain volatile in the short term.

Soochow Securities pointed out that in terms of the trend in July, the G-20 meeting on 29 June made positive progress, China and the United States resumed economic and trade consultations, and the US side said that it would no longer impose new tariffs on Chinese exports, and that the economic and trade teams of the two countries would discuss specific issues. As one of the key factors affecting the market risk preference in the second quarter, the mitigation of Sino-US economic and trade frictions will help to strengthen the rising trend of the market. At the same time, the seasonal factors of the market's habitual decline in June receded. On the whole, in July, the time window for the market to rise gradually opened.

Guojin Securities said that A-share investors will still adhere to two "premium" principles in industry allocation and individual stock selection: a "performance certainty premium" to the plate and a "liquidity premium" to individual stocks with a market capitalization. This style is difficult to see a substantial change in the short term. As a result, the industry is still dominated by the financial and consumer sectors, and the weak cycle and policy dividends of new energy (photovoltaic), military industry, environmental protection sector is also recommended rating.

In terms of industry allocation, Pacific Securities Strategy Research said that even if short-term small-cap stocks dominate, it is still recommended to buy "core assets" whenever there is a pullback. At the industry level, it is still recommended to configure food and beverage, communication equipment, core semiconductors, agricultural products, insurance in finance, securities firms and optional consumption, and reasonable positions to allocate precious metal sectors. elasticity can revolve around super-declining growth such as communications semiconductors and military industry.


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