Investing.com – On Friday (September 16), the index fell collectively. The Shanghai Composite Index, Shenzhen Component Index and ChiNext Index collectively fell by more than 2% and hit a new low in about four months. Among them, securities stocks dragged down the market, and the exchange rate fell below an important support level and also triggered foreign capital outflows.
At the same time, the turnover fell sharply. The turnover of the two cities was 799.4 billion yuan today, compared with 919.1 billion yuan in the previous trading day. Foreign capital continued to sell significantly, with a net sales of 4.512 billion northbound funds and a net outflow of 1.026 billion.
On the board, most industries fell, with securities, coal, natural gas, real estate development, logistics, insurance, construction, and urban construction leading the decline. At the same time, the main funds continued to flow out of lithium batteries, photovoltaics, new energy vehicles, energy storage, power equipment, etc. industry. However, the concept stocks of WeChat mini-programs have risen. Recently, a WeChat mini-program game of “Sheep’s Goat” has become popular on the Internet.
Guo Yiming, an analyst at Jufeng Investment Consultants, said, “The weakness of the market is mainly due to concerns about multiple interference factors at home and abroad. Under the overseas Fed’s monetary tightening cycle, the high valuation of A-shares has also been suppressed. The period of substantial interest rate hikes Market sentiment has been hit even more by the expectation of 2019. The devaluation of the domestic renminbi has reduced the willingness of foreign capital to allocate A-shares, while the economic data in August is still not good, the effect of long holidays and the wait-and-see rule before important meetings, the overall enthusiasm of the market is not high. In addition, under the comprehensive competition in the Sino-US technology track, the inhibition of technology growth stocks continues to ferment.”
As of market close:
- It fell 2.30% to close at 3126.40 points, a new low since May 26, and fell 4.16% for the whole week;
- It fell 2.30% to close at 11261.50 points, a new low since May 27, and fell 5.19% for the whole week;
- It fell 2.34% to close at 2367.40 points, a new low since May 31, and fell 7.10% for the whole week;
- It fell 0.16% to close at 998.52 points, the lowest closing level since May 27, and fell 3.41% for the week;
- It fell 1.91% to close at 13,099.45 points, the lowest closing level since May 10, and fell 2.38% for the week.
Today’s focus is on securities stocks. Oriental Fortune (SZ: ) fell 10.78%, CITIC Securities (SS: ) fell 5.68%, GF Securities (SZ: ) fell 7.45%, and Huatai Securities (SS: ) fell 5.12%.
Earlier, the State Council issued a document to encourage securities, funds, guarantees and other institutions to further reduce service fees, and the market was worried that it would hit the income of the securities industry. However, Guotai Junan non-bank analyst Liu Xinqi believes that this fee reduction is not another fee reduction. The “Opinions” are measures taken by the State Council to optimize the business environment, not specifically for the financial industry. Among them, almost all kinds of government, public utilities, associations and chambers of commerce and other institutional and license fees are involved.
[This article is from Yingwei Caiqing Investing.com, to read more, please log on to cn.investing.com or download Yingwei Caiqing App]
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Compilation: Liu Chuan