[stock Market afternoon Review] Economic Stability Index fell in the second half of the year Huawei released a performance report related to the plate rose

SMM7 31-month news: the three major stock indexes opened lower in early trading, the Shanghai Stock Exchange 50 index once fell more than 1%, real estate stocks collectively lower, 5G, semiconductor and other technology stocks strengthened again. Near the close of the morning, the trading volume gradually narrowed, and the three major stock indexes continued the weak consolidation pattern. Plate stocks, cold chain logistics and other plates are still active, another Huawei concept, rare earths and other plate dynamic pull up. Stocks fell more and rose less, market sentiment tends to be cautious. By midday, the Prev index closed down 0.53% at 2936.58 points, the Shenzhen Composite Index closed at 9447.45 points, down 0.55%, and the creative index closed at 1572.07 points, down 0.51%.

Review of abnormal movement

The agricultural farming plate opened stronger, Guanghong Holdings rose nearly 3%, New Hope, Hefeng Animal Husbandry, Tiankang Biology, Shengnong Development, Minhe shares, etc., followed by a rise in New Hope, Hefeng Animal Husbandry, Tiankang Biology, Shengnong Development, Minhe shares, etc.

Huawei Hayes concept stocks rose, Huatian Technology, Tongfu Micro Power rose nearly 5%, long Power Technology, Wu Tong Holdings, Chengmai Technology, Mingpu Guang Magnetics and other stocks rose one after another.

Fluorine chemical plate continued to weaken, polyfluoride, Zhongxin fluorine materials are down nearly 5%, Kane shares, Jacques Technology, Longxing Chemical and other stocks have declined

Real estate plate led the decline in early trading, Vanke A, Huaxia Happiness, Jindi Group, Poly Real Estate and other collective fell more than 3%. On the news side, the meeting of the political Bureau of the CPC Central Committee proposed to implement the long-term management mechanism of real estate and not to use real estate as a means of short-term economic stimulus.

Rare earth plate movement, gold permanent magnet, Sinosteel Tianyuan, Minmetals rare earth, Shenghe resources and other collective pull up

The chicken plate changed slightly, Lihua shares rose 3%, Minhe shares, Xiantan shares and so on rose.

Shanghai free trade concept continued to rise, Shanghai Yashi rose 4%, Shanghai property trade rose 2%, Shanghai port rose 1%, etc.

Message surface

[China's official manufacturing PMI49.7 rebounded for the first time since April in July]

China's official manufacturing PMI49.7, in July was 49.4, expected to be 49.6; China's official non-manufacturing PMI53.7, in July was expected to be 54, with a previous value of 54.2. In July, manufacturing PMI rebounded for the first time since April, with many positive changes in the manufacturing sector, the Bureau of Statistics said in an interpretation of July PMI data. First, the prosperity of the industry has expanded; second, the overall expansion of production has accelerated and market demand has improved; third, the price index has rebounded; fourth, the import and export index has rebounded synchronously; and fifth, the expectations of enterprise development have improved steadily, and policy measures such as tax reduction and fee reduction and targeted reduction have accelerated the landing, further lightened the burden on enterprises, and played an important role in stabilizing the confidence of enterprises.

[Politburo meeting set second half of the year economy: stabilizing manufacturing investment in real estate as a short-term stimulus]

In the face of the current situation, the policy level does not mean to "release water". In the economic deployment in the second half of the year, it is necessary to emphasize the stability of macro policy, the implementation of a positive fiscal policy and a prudent monetary policy, and the implementation of the policy of giving priority to employment. For the first time, it made it clear that "real estate should not be used as a means of short-term economic stimulus." (economic report of the 21st Century)

[Huawei releases "hard core" report card: 120 billion investment in R & D during the year against the trend in the first half of the year.]

On July 30, Huawei released its first financial report since it was added to the "real economy" list by the U.S. Department of Commerce. In the first half of this year, Huawei achieved sales revenue of 401.3 billion yuan, up 23.2 percent from a year earlier, faster than the same period last year, and a net profit margin of 8.7 percent, up slightly from the same period in 2018, according to the results. Liang Hua, chairman of Huawei, told the Securities Times and other media that "Huawei's revenue grew faster before May, after the 'entity list', because of market inertia." Huawei still faces great difficulties, but is confident about the future and will continue to invest in the future, with plans to invest 120 billion yuan in research and development in 2019. " The figure increased by nearly 20 billion yuan over the same period last year. (Securities Times)

Institutional point of view

Guotai Junan believes that the recent market has fallen into a dilemma with no top-down driving force and no bottom-up power point, and the politburo meeting has clearly set the tone and direction, and the situation is about to break down. On the one hand, it is the guidance of financing of financial institutions, on the other hand, it is the follow-up of demand-side policy, credit guidance will be more smooth in the environment of demand, which makes our confidence in profit repair more firm.

Hualong Securities: whether the short-term market can continue to be optimistic also depends on the trading volume of the Prev index to fill the 3052-point gap, compared with May 6, the single-sided one-day trading volume of the Prev index needs to reach more than 300 billion yuan. Medium-term optimism depends on the direction of long-term funds, especially northward funds. In the near future, most of the concept plates are intraday performance, so investors can report performance in a good direction, technical layout, waiting for intraday policy news to rush up and reduce positions after the emergence of policy news. Radical investors continue to control their positions and analyze their holdings. Stocks with large recent gains and weak technical forms are mainly considering reducing their positions. Robust investors patiently wait for the index to choose the direction, do not blindly chase up, continue to track large finance, large consumption, cyclical (non-ferrous) and other value stocks.

Galaxy Securities: the political Bureau of the CPC Central Committee held a meeting to analyze and study the current economic situation and make arrangements for economic work in the second half of the year. Overall, the gem index is still a short-term strong index, today, although leaving a long shadow line, but has begun to attack the May gap. The short-term A-share market may be volatile. We should continue to pay attention to the strength, fundamentals and capital changes of the relevant market policies, as well as the valuation changes of the reported performance of specific stocks.

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