[stock market review] the bottom of the two markets rebounded and the Shenzhen stock market index rose more than 1%. The aquaculture sector led the rise throughout the day.

SMM10 month 21: morning after the weak collation of the two cities, began to shock strong. On the plate, liquor concept stocks opened actively, pork concept, aquaculture plate pulled up again, digital currency plate pulled up, venture capital plate continued to pull up, logistics, dairy and other plates pulled up, securities, paper plate pulled up rapidly, funds are still cautious. In the afternoon, the three major stock indexes fluctuated higher, with the index up more than 1 per cent. On the plate, the pork stock performance is strong, the venture capital plate pulls up and strengthens, the port, the traditional Chinese medicine, Hainan plate changes pull up. Stocks rose and fell less, the market atmosphere began to improve, the bulls began to be active.

By the end of the day, the Prev index was up 0.48% at 2954.93 points, the Shenzhen Composite Index was up 1.1% at 9660.44 points, and the Chuang Index was up 1.3% at 1675.34 points. The figures show a total net inflow of $1.537 billion to the north. Of this total, Shanghai shares had a net inflow of 6 million yuan, while Shenzhen shares had a net inflow of 1.531 billion yuan.

Plates and individual stocks

Pork plate performance is strong, as of the close, Delis, Muyuan shares rose by the limit, Lihua shares, probiotics shares and other stocks have strengthened one after another.

Plate capital flow

The main net inflow into the top five sectors of the industry: electronic manufacturing, agricultural products processing, beverage manufacturing, aquaculture, securities

Main net inflow concept plate top five: FTSE Russell concept stock, margin trading, deep stock, standard Dow Jones A shares, MSCI concept

Net inflow of main funds into the top ten

Net outflow of main funds from the top ten

Abnormal review

The concept of liquor rose in early trading, Shuijingfang rose 2%, Gujing Gong Liquor, Yanghe shares, Luzhou laojiao, this world fate and so on.

Pork plate strong, Delis fast seal board, Longda meat, probiotics shares, Lihua shares rose

Digital currency plate pulled up, Sifang fine rose by the limit, Julong shares rose more than 4%, national technology, Koda shares, Ranko technology, intelligence shares rose

Bank stocks weakened, Qingdao Bank fell 2%, Everbright Bank, Changshu Bank, Pudong Development Bank, Suzhou Bank fell one after another.

The aquaculture industry continued to strengthen, Tianshan biology rose by a straight line, probiotics shares rose more than 9% to a new high, Lihua shares, Xiantan shares, Huaying agriculture and so on rose

Logistics plate pulled up, long-term logistics closed up, oriental Jiasheng rose more than 4%, Zhongchuang logistics, Wanlin logistics, Yuantong express delivery and so on

Aquaculture concept stocks rose and stopped, Delis, Tianshan biology, Lihua shares, probiotics shares, Minhe shares, Xiantan shares, new hope hit the limit

Securities plate quickly pulled up, Huaxin shares rose nearly 3%, Guosheng Financial Control, Guoxin Securities, Jinlong shares, Huatai Securities and so on.

Papermaking plate changed and pulled up, silver pigeon investment rose by a straight line, Xianhe shares, Castle Peak Paper, Bohui Paper, Chenming Paper, and so on.

Venture capital plate pulled up in the afternoon, German and American chemical industry rose in a straight line, the north of the city rose 7%, Haitai development, Qianjiang water conservancy, Minfeng special paper rose

Port shipping concept rose rapidly, Zhuhai port rose 4%, Yantian port, Guangzhou port, investment port and other collective pull up

The plate of traditional Chinese medicine changed and strengthened, Longshenrong rose in a straight line, Panlong Pharmaceutical, Watson Pharmaceutical, Kunming Pharmaceutical Group, Jilin Pharmaceutical Holdings and other collective pull up

Hainan plate changed and strengthened, strait shares rose 6%, Hainan Ruize, Dadonghai A collective pull up

Message surface

[the opening up of the financial industry to the outside world has entered a "comprehensive" stage! The opening up process in these areas will also be accelerated to see more details]

Recently, the National Development and Reform Commission and the General Administration of Market Supervision jointly issued the "guidance on the High quality Development of the Service Industry in the New era", defining 10 key tasks. Of particular concern is the formulation of opening wider to the outside world. (brokerage China)

[14 departments, including the Ministry of Commerce, jointly issued the "guidance on the cultivation and Construction of an International Consumer Center City"]

On October 14, 2019, with the consent of the State Council, the Ministry of Commerce and other 14 departments jointly issued the "guidance on the cultivation and Construction of an International Consumer Center City" (Shang Yun Fa (2019) 309, hereinafter referred to as the "guidance"). To guide the promotion of the cultivation and construction of international consumption center cities.

[NDRC: smart vehicle Innovation and Development Strategy to be issued this year]

Wu Wei, director of the Industrial Coordination Department of the National Development and Reform Commission, said at the 2019 Global Future Travel Conference that the Intelligent vehicle Innovation and Development Strategy will be issued this year. (China Securities Network)

[the amount of share buybacks by more than 900 companies this year has doubled that of the whole of last year]

According to statistics, as of October 24, 919 listed companies had implemented share buybacks during the year, and the cumulative repurchase amount was as high as 103.775 billion yuan, double the total repurchase amount for the whole of last year, and once again set a new all-time high. In 2018, 785 A-share companies implemented share buybacks, totaling more than 50 billion yuan. From this point of view, the buyback enthusiasm of listed companies this year is much higher than that of last year. In addition, as of October 24, the share prices of 704 of the 919 listed companies that implemented buybacks during the year rose, accounting for 76.61%, or nearly 80%. (Securities Daily)

[Ministry of Agriculture and Countryside: pig production capacity is expected to return to normal next year]

Wei Baigang, director of the Development Planning Department of the Ministry of Agriculture and villages, said at a news conference on the 25th that in September, the stock of pigs in pig farms with an annual output of more than 5000 pigs increased by 0.6 percent over the previous month, and that of breeding sows increased by 3.7 percent. The sales volume of reserve sows continued to increase significantly, and the output and sales of pig feed rebounded. The storage ratio of pigs in Jilin, Liaoning, Shandong and other provinces increased or remained flat, and the factors for the recovery of pig production increased obviously, and the pig production as a whole entered a turning point of stopping and rising. According to this trend, pig production capacity is expected to bottom out by the end of the year, and is expected to return to normal levels next year. (Securities Times)

[Tesla China offers an upgraded version of MODEL 3 starting at $50, 000]

Today, Tesla announced that the standard Model 3 standard life upgrade (made in China) model with basic driving assistance function will be officially open for booking. From now on, consumers can log on to Tesla's China official website tesla.cn or go to Tesla experience Center for consultation or reservation. The model starts at 355800 yuan and is expected to be delivered in the first quarter of next year.

Institutional point of view

Shanxi Securities said it expected the market to maintain a volatile pattern. From the overall market trend, in the risk-free interest rate is difficult to decline sharply, the market expectations of economic fundamentals are weak, the current upward driving force of the market is not strong. Combined with the current valuation point reasonable high factors, the market short-term suppression probability is higher, effectively break through 3000 points is more difficult. But at the same time, once the market valuation falls to a reasonably low level, the long-term allocation of funds will still flock, and the market is expected to maintain a volatile pattern.

Haitong Securities: yesterday, the major indices fluctuated within a narrow range, the volume can remain stable, the afternoon lower after the short-term moving average rebounded, natural gas, shipbuilding, banking and other sectors showed a strong performance, but from the recent overall performance of the market, there is no obvious sustained hot spot, the early strong science and technology stocks with the three quarterly report forecast continue to announce, there are some good cash or not expected to lead to varying degrees of adjustment, The deflation of PPI and the continuous decline of industrial product prices for three months in a row reflect the downturn on the demand side, and investors should guard against the realistic pressure of the economy. However, on the other hand, from the current ratio of profit yield of Shanghai A shares to the yield of long-term treasury bonds, it is now close to 2.3. According to historical experience, when the ratio is greater than 2, it is often a sign of a long-term slow layout. In the case of external uncertainty is still large, we still recommend controlling positions to participate, and the main position as far as possible in the fundamentals of good, optimistic performance of the company, patiently wait for the market trend clear before making major decisions.

Wanlian Securities: from the market performance on Thursday, the market as a whole showed a concussion trend, the market hot spots are still rare, some of the previous larger stocks appeared to stop the tide. We believe that short-term markets will continue to be weak and volatile. With the disclosure of the third quarterly report gradually approaching the end, most of the companies with relatively good results have been disclosed one after another, and the market funds in the later stage have relatively poor performance expectations for the listed companies that do not disclose the third quarterly report. Active funds in the market to avoid risks at the same time, there is also the need to cash profits, the market into the shock adjustment period is more normal. In terms of short-term market hotspots, pay attention to two main lines. First, under the background of rising inflation expectations, some consumer goods with expected price increases, such as pork, deserve attention. Second, core technology growth companies can still pay attention to bargains.

Wang Yupeng, chief macro analyst at Dongxing Securities, said the core driving force in the market would return to profit certainty. Capital and market sentiment will not improve significantly, there is not expected to be a general rally in the first quarter. It is expected that the future will not appear in the past obvious "consumption, science and technology, cycle, finance" style, it is recommended to select sub-industries. From the perspective of the profit cycle, the profit growth rate of the consumer industry is in the downward cycle, but the absolute value of profit growth still maintains an advantage. Technology industry profit growth will enter the upward cycle, in which the electronics industry ushered in an inflection point ahead of time. However, after the general rise in the third quarter, the technology sector is expected to have the need to digest valuation in the fourth quarter, short-term or under pressure, it is recommended to select leading companies with performance support. In addition, from the valuation point of view, performance support and cheap valuation of financial real estate also has allocation value.

Wang Yi, chief macro strategist at Great Wall Securities, said that overall, the downward pressure on the economy still exists, and the follow-up is still facing a rebalance of policy strength and fundamental pressure. In the environment of increased risk appetite, the A-share structural market is expected to continue. Although the growth sector has adjusted since mid-September, the main line of the follow-up market is still in the direction of "scientific and technological innovation + finance". In addition, it is recommended to pay attention to the opportunities for outstanding stocks in the three quarters.

Shen Wanhongyuan strategy research pointed out that A-share profit growth is expected to remain resilient, the overall sample of A-share profit growth of 6.4% in the third quarter, compared with 5.7% in the second quarter showed a small upward trend.

Guosheng Securities pointed out that on the news, the fourth plenary session of the 19th CPC Central Committee will be held in Beijing from October 28 to 31. After the temporary relaxation of the trade dispute between China and the United States, the current fundamental pattern has evolved into "economic growth decline + stock market expansion acceleration (registration system reform) competition policy counter-cyclical adjustment + relatively loose funds." The convening of important meetings is bound to arouse the market's imagination of increasing counter-cyclical regulation of policy. However, before the promulgation of specific measures, there should not be too much subjective speculation. Back on the disk, the market continues to oscillate in the middle track of the 2800-3050 range. Thanks to the support of bank stocks and expectations of major conference policies, there is a high probability that the market will continue to maintain a balanced and volatile trend.

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