[stock Market afternoon Review] the concept of gold goes down and the concept of gold goes against the trend. The environmental protection policy frequently shows the strong performance of the plate.

SMM6 28-month news: the three major stock indexes opened lower in the morning after a sharp decline, Shanghai and Shenzhen stock markets fell nearly 3200, the gold plate against the market strong, block chain concept stocks led the decline, Hengyin Finance and other 2 stocks fell by the limit. In addition, industrial hemp, security, 5G, diversified finance, software, hydrogen energy, chips and other sectors also led the decline. The index showed a unilateral decline, with the gem index falling more than 1%. Only gold, white wine, cement, electricity and other plates strengthened against the market. By midday, the Prev index closed down 0.88% at 2970.71 points, the Shenzhen Composite Index closed down 0.89% at 9157.17, and the Trail Index closed at 1509.94 points, down 1.02%.

Review of abnormal movement

The electric power plate is strong, Huayin Electric Power and Mindong Electric Power are both rising by the limit, Minjiang Hydropower is up 7%, Wenshan Electric Power, Shennan Electric Power A and Leshan Electric Power are up slightly.

Gold concept stocks rose differently, Yuancheng gold rose nearly 5%, CICC Gold, Jinzhou Cihang, Yintai Resources, Zijin Mining and other stocks rose one after another.

Liquor plate changed to pull up, Jinzi Liquor, Shanxi Fen Liquor rose more than 5%, Jinhui Liquor, Shuijingfang, Yilite and other stocks rose one after another.

Cement plate intraday abnormal pull up, Qingsong Jianhua strong pull up close to the limit, Tianshan shares, evergreen, Huaxin cement and other stocks have followed suit

The gem index fell more than 1%, nearly 3000 stocks fell in Shanghai and Shenzhen, and 5G and blockchain plates led the decline.

The agricultural planting plate continued to weaken, the agricultural seed industry fell nearly 7%, and Wanxiang Denong, Longping Gaoko, Dunhuang seed industry and other stocks fell sharply one after another.

The environmental protection concept stock is strong in the market, Huicheng environmental protection straight line rises more than 8%, Xuedilong rises nearly 7%, long Wu high technology, green power, Fuchun environmental protection and other stocks have followed suit.

Message surface

[Ministry of Housing and Construction: 21.3 billion yuan will continue to be invested to speed up the construction of municipal solid waste treatment facilities]

According to the results of a household survey of 46 key cities conducted by the Research Group of the Development Research Center of the State Council in 2018, 38.3% of households classified domestic waste. According to the Ministry of Housing and Construction, at present, 46 key cities have been equipped with nearly 5000 classified kitchen waste transport vehicles and nearly 1000 hazardous waste classified transport vehicles, and will continue to invest 21.3 billion yuan to speed up the construction of treatment facilities. According to the Ministry of Housing and Construction, the classification of municipal solid waste needs to be persisted, invested and promoted for a long time. Moreover, the source reduction will be strengthened by promoting legislation.

[regular meeting on monetary policy in the second quarter! The timely and appropriate implementation of countercyclical interest rate adjustment is on the line]

The second quarter of 2019 (the 85th regular meeting of the Monetary Policy Committee) was held in Beijing on June 25. In accordance with the usual practice, the meeting analyzed the economic and financial situation at home and abroad, and made arrangements for the next step in monetary policy. (brokerage China)

[chairman Xi Jinping will attend the G20 meeting in Osaka from 28 to 29 June]

The 14th summit of G-20 leaders will be held in Osaka, Japan from June 28 to 29. Last week, President Xi Jinping and US President Trang agreed by telephone to meet on the sidelines of the G20 leaders' summit in Osaka. President Xi Jinping will attend the first phase of the 14th summit of G20 leaders at noon local time today and make a guiding speech.

Institutional point of view

Hualong Securities pointed out that due to the disturbance of trade frictions, it has created more uncertainty for the development of the global economy in a weak recovery and reduced the expected growth rate of the world economy. Under the guidance of counter-cyclical regulation and control policies and the stimulus of enhanced fiscal policies, the domestic economy started steadily in the first quarter, the downward trend was effectively curbed, and the macroeconomic performance exceeded the average market expectations, showing a certain degree of resilience. At the micro level, the financing environment of small and medium-sized enterprises has essentially reversed compared with 2018, but profits continue to wander at the bottom, with downward pressure on exports, consumption and real estate sales. Monetary policy will tend to structural adjustment in the second half of the year, and there is a high probability that monetary policy will maintain a steady, flexible, and moderate policy direction. With the emergence of global monetary easing, the probability of interest rate reduction will be greater, and interest rate expectations will be enhanced. Fiscal strength may be weaker than in the first half of the year. Policy regulation will be more inclined to structural adjustment to support the development of the real economy.

In terms of operational strategy, China International Capital Corporation believes that the following two main lines may relatively outperform the market: first, areas where valuations are relatively low, positions are relatively light, and policy expectations are gradually enhanced, such as infrastructure, cars, and so on; sectors where there may be catalysts in domestic demand in the second half of the year, such as 5G, agriculture, and so on; Second, we will continue to be optimistic about the general trend of consumption upgrading and industrial upgrading, and absorb leading stocks that reflect the trend in areas such as household appliances, food and beverage, medicine, advanced manufacturing, and so on. In addition, the macro liquidity conditions are loose, the overall valuation of the market is not high, the theme investment is still likely to be active in stages.

Guolian Securities said it was still optimistic about investment opportunities in the second half of the year against the backdrop of low valuations, tax cuts and fees, global easing, foreign capital inflows and continued capital reform. It is suggested that attention should be paid to the following three types of opportunities: first, to maintain high prosperity or marginal improvement of sub-industries, including cement, pharmaceutical biology, livestock and poultry breeding, liquor, beer, gold, etc. Second, enjoy the opportunity of leading companies under the promotion of concentration or brand premium, such as real estate, infrastructure, decoration and other industries leading companies; Finally, strategic industry opportunities under the increasing importance of technology, such as semiconductors, military industry, information security, 5G, high-end manufacturing, rare metals, oil clothing, seed industry, etc., as well as non-silver finance opportunities to facilitate the transformation.

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