SMM5 June 6: three major indexes opened low, quickly pulled up after the opening, and then maintained a concussive trend, on the disk, the RETIs plate broke out, the data center concept was strong, near the morning close, the index overall steadily strengthened, the three major indexes all turned red, the index rose more than 1%, science and technology stocks, agricultural plate performance strong, on the whole, the market atmosphere is more active, individual stocks rose and fell less, but fell to a lot of home. The moneymaking effect increases. By the end of the morning, the Shanghai index was up 0.08 per cent at 2862.50 points, the Shenzhen Composite Index at 10804.28 points, up 0.77 per cent, and the Chuang Index at 2091.64 points, up 1.07 per cent.
Abnormal review
Scenic spots and tourism concepts led the decline, Tengbang International fell by the limit, Tianmu Lake, Xi'an Tourism, Zhangjiajie and so on fell by more than 3%.
Semiconductor and component plate pulled up, Ju Chen shares rose 5%, long electric technology, the World Games circuit, Datang Telecom, North Huachuang and so on.
Car plate continued to pull up in early trading, Valin star horse pulled up the touch plate, Changan car rose more than 3%, Lifan shares, China heavy truck, FAW car, SAIC Group and so on.
The concept of data center is strong, Ningbo construction seal board, halo new network, data port, Longyu fuel and so on.
Photoresist concept rose, large photosensitive limit, Jingrui shares, Tongyi shares, Nanda Optoelectronics, Feikailin materials and so on.
Agricultural planting plate quickly pulled up, new agricultural development straight up the limit, Dabei agriculture, Honghui fruits and vegetables, Beidahuang and so on.
The rare earth permanent magnet plate pulled up and strengthened, the gold force permanent magnet rose by the limit, Sinosteel Tianyuan, Galactic magnet, northern rare earth and other collective rose.
Division board continued to strengthen in early trading, Anji technology rose by the limit, Juchen shares, core source micro, Walter gas, Shanghai silicon industry rose more than 10%.
Cobalt plate change pull up, cold sharp cobalt industry rose by the limit, Rongbai science and technology rose more than 7%, Huayu cobalt industry, Dow technology, Luoyang molybdenum industry, medium color shares rose.
Message surface
[the United States is considering extending the tariff exclusion of some Chinese goods for one year]
The Office of the US Trade Representative said it was considering extending the exclusion of some products from Chinese tariffs for up to 12 months.
[class 1 trillion market! Public offering REITs open gate fund industry "hi"! ]
The public fund industry has ushered in an epoch-making new product. A few days ago, the Securities Regulatory Commission issued a notice to openly solicit opinions on the guidelines for the Public offering of Infrastructure Securities Investment funds (for trial implementation). The public offering of RE-ITs products is approaching. The draft guidelines for the Public offering of Infrastructure Securities Investment funds (for trial implementation) has aroused widespread concern in the industry. Some organizations predict that with reference to the size of the US market, the birthplace of REITs, and the proportion of the size of GDP, the size of China's public REITs market can reach 6 trillion yuan.
[special debts may be declared for shed reform projects]
According to a number of market participants, it was previously stipulated that special bonds could not be issued for shed reform projects, but can now be issued. A market person told reporters that the reason for allowing shed reform projects to declare special debts is that projects in previous years have not been completed and need to continue to declare funds to be completed, which cannot be broken down.
Institutional point of view
Citic Jiantuo said that as the epidemic in China was fully brought under control, economic activity returned to normal. We expect the economy to pick up further in May than in April, especially with the convening of the two sessions on 22 May, policy support measures will be further implemented to support economic recovery. Monetary policy remains neutral and flexible, and fiscal policy will dominate the market. After the uncertainty of the first quarterly report has been completely eliminated, the second quarter will be the biggest month-on-month improvement in the whole year, and it will also be the best window for investment in 2020. From the performance of large categories of assets, stocks and convertible bonds are the best assets, profits will lead stocks upward, will also determine the prosperity of the industry. From the perspective of industry comparison: first of all, after the recovery of the economy, the prosperity of the science and technology industry will improve, the pre-market will fall sharply, and the allocation value of the science and technology industry will reappear. We first push the electronics, communications and computer industries; secondly, the counter-cyclical adjustment benefits from the construction, building materials, transportation and other industries also have considerable flexibility; Third, the early damaged late recovery of catering tourism and other industries will also be restored.
Guotai Junan Securities believes that the market shock pattern in May is expected to continue. The key factor affecting the market is that the market lacks sufficient momentum upward and downward and will remain volatile in May. Among them, the upward support of the market is four: (1) the valuation is more attractive; (2) the liquidity is loose; (3) the profit inflection point has already appeared; (4) the policy expectation. There are four downward pressures: (1) the inflow of short-term foreign capital will slow down; (2) the pressure of market supply increases; (3) the supply of market funds decreases; (4) the market lacks the main line.
Haitong Securities: at present, it is the bottom period after the adjustment of bull market and 2 waves.
(1) the Sell in May effect in overseas market is obvious, and the positive return probability of A shares in May is the lowest in history. Fundamental data is weak, overseas stock market pullback, A shares may withdraw from the bottom again. 2 medium-term perspective, at present is the bull market 2 wave adjustment late stay-up period, similar to the first half of 14 years, trend rise and other two major signals: fundamentals rebounded, market sentiment hit bottom. (3) stable and distant, step by step, external demand is insufficient to make up for domestic demand, first focus on new infrastructure and consumption.
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