On the 20th of SMM1, the three major stock indexes opened lower and walked lower. On the disk, affected by the lung yan epidemic, influenza prevention, mask, biopharmaceutical and other plates continue to strengthen, airport shipping, tourism plate again weak, liquor plate is also weak. Near the end of the morning, the index once short-term dive, Prev index, Shenzhen Composite Index, Chuang Index has fallen more than 1%, and then the stock index slightly warmed up. On the disk, pharmaceutical stocks weak market overexert, the relevant plates are almost all floating red. The concepts of other themes are weak. As of press time, the Shanghai index closed at 3063.56 points, down 1.04%, the Shenzhen Composite Index closed at 11010.50 points, down 0.95%, and the index closed at 1971.51 points, down 0.54%.
Abnormal review
Mask concept opened stronger, Renhe Pharmaceutical, Teda shares, leading shares, Jiangnan high fiber collective limit.
Influenza plate strong in early trading, science and technology board master biological impact rose by the limit, Lukang medicine, Xiangxue pharmaceutical, Rheinland biology, Teda shares, Kehua biology and other stocks rose by the limit.
Airport shipping concept continued yesterday weak, Shanghai airport, Baiyun airport fell 2%, Shenzhen airport, China Airlines, Air China and other small decline.
The concept of liquor is weak, Wuliangye, Luzhou laojiao, Kouzi cellar, this fate, Shunxin agriculture collectively fell more than 2%.
The concept of scenic spots and tourism continued to weaken, with Caesar down 6%, China Youth Travel Service, Sante Cableway, Lingnan Holdings and China Television Media down more than 3%.
Securities plate change pull up, Nanjing securities rose more than 6%, Citic Construction Investment, Pacific, Zhejiang Securities, Great Wall Securities and so on.
Semiconductor and component plate pulled up, Hingsen technology impact rose by the limit, Yangjie technology, world games circuit, Dongshan precision rose more than 6%.
Message surface
[Xi Jinping gives important instructions on Lung yan epidemic caused by New Coronavirus infection]
Xi Jinping gave important instructions on the lung yan epidemic caused by the new coronavirus, stressing the need to give priority to the safety and health of the people and resolutely curb the spread of the epidemic.
[Department of Commerce: welcome high-quality and competitive American products into the Chinese market]
Li Xingqian, director of the Foreign Trade Department of the Ministry of Commerce, said on the 21st that China welcomes high-quality and competitive US products to enter the Chinese market to meet the growing consumer demand of the people, and hopes that the United States will create conditions for expanding exports to China. At the same time, China is one of the largest consumer markets in the world after the United States. China's market is not only huge, but also growing rapidly. Import demand is diversified, multi-tiered and wide-ranging. We will expand imports from the United States on the basis of market-oriented principles and WTO rules, and will not affect imports from other countries. We sincerely welcome enterprises from all over the world to compete on an equal footing and compete for development in the vast Chinese market.
[easy to make a big sound! What new changes will the new securities law bring to the capital market? ]
The revised Securities Law will come into force on March 1, 2020. Xinhua News Agency, January 20, in an exclusive interview with Xinhua reporters a few days ago, Yi Huimeng, chairman of the Securities Regulatory Commission, said that it is necessary to grasp the first year of the implementation of the Securities Law and regard 2020 as the year for the construction of the rule of law in the capital market and the key year for deepening reform in an all-round way.
Institutional point of view
Haitong Securities: yesterday, the A-share market again, the three major stock indexes rose collectively. Among them, the performance of the Shenzhen stock market is significantly better than that of the Shanghai stock market, especially the gem index hit a new high in the past three years led by science and technology stocks. The reason is that at present, the performance of small and medium-sized stocks represented by science and technology stocks is obviously better than that of white horses and blue chips with larger market capitalization, but as financial stocks have been in the doldrums for several days, investors can continue to pay attention to the brokerage sectors with better performance, and with the gradual disclosure of the annual report, it is expected to attract everyone's attention again.
Operationally, as the Spring Festival is approaching, many investors are wrestling with whether to hold shares or not. According to historical data, in the past 20 years, in the 10 trading days before and after the Spring Festival, the probability of market rise is as high as 77.5%. And with the recent emergence of good news, the Banking and Insurance Regulatory Commission to guide residents to save into the capital market and so on are expected to lead to the further continuation of the "red envelope" market. Therefore, it is suggested that investors can hold shares properly for the holiday.
Huachuang Securities: at present, the market shows the following characteristics: 1) the positive logic is still unfolding, the Spring Festival holiday is coming, the fear of overseas uncertainty, investors are prone to wait-and-see mood, and the market reaction to the positive reaction is weakened; 2) the economy has improved expectations, the guiding effect of bottom-up performance forecast is stronger, and the momentum of the strong cycle plate is weakened; 3) the technology growth leader is still the main line of the market, and this style continues to be strengthened. It is suggested to grasp the current market structure from the following ideas: 1) risk preference rises, superimposed market liquidity to maintain a friendly situation, continue to be optimistic about the TMT plate, gem blue chip for the market style is expected to continue; 2) profound changes have taken place on the supply side at the industry level, and under the expectation of economic improvement, the structural replenishment logic in the middle reaches, and the construction, automobile and real estate completion chain are the structural bright spots, actively paying attention to the light industry manufacturing, textile and clothing, automobile, machinery, household appliances and chemical sectors; 3) during the stage, the thematic hot spots are more active, focusing on domestic substitution, consumer electronics, semiconductors, new energy vehicles, Internet finance and other scientific and technological opportunities.
Huatai Securities: in 2019, real estate sales remained resilient, but the marginal downward trend became more and more obvious. In December, housing enterprises concentrated to replenish inventory, and land acquisition rebounded, but looking forward to 2020, we expect new construction, land acquisition, and investment growth to slow down steadily. In the future, under the expectation of "stability", we need to pay attention to the counter-cyclical adjustment space, and it is expected that there will be an increase in hedging due to urban policy and liquidity marginal improvement in 2020. In addition, the completed area has finally returned to positive growth since 2017, and the positive growth trend is expected to continue in 2020, which will also bring opportunities related to the post-cycle industry chain.
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