Investing.com – On Monday (31st), the Shenzhen Component Index rose by more than 1% in the morning market, but turned down in the afternoon. The ChiNext Index once rose by more than 2%, but it closed down to 0.65%. . The Shanghai Composite Index opened lower and moved higher in the morning, turning higher for a while, but dropped again in the afternoon.
The turnover fell, to 883.2 billion yuan today, compared with 910.845 billion yuan in the previous trading day. Foreign capital sold out sharply, ending the trend of three consecutive days of net inflows. Today, northbound funds sold a net 9.012 billion, with a net outflow of 6.885 billion.
On the board, airport shipping, coal, scenic spots and tourism, hotels and restaurants were among the top decliners, and funds flowed out of power, photovoltaic equipment, and energy storage stocks. Cloud computing, the concept of digital economy, and defense and military industries are among the top gainers.
Looking forward to the market outlook, Guo Yiming, an analyst at Jufeng Investment Consulting, said that there are many things to watch in November, which may affect the specific direction of the market in the future. First of all, November 2 ushered in the Fed meeting on interest rates. Secondly, the German Chancellor’s visit to China in early November, the mid-term G20 summit, the mid-term elections in the United States, etc., the new changes in Sino-US and Sino-European relations may also be of concern to the market; Quarterly economic and policy expectations may have a certain impact on the market.
For the market, some analysts believe that it is difficult for A-shares to rise at a large level at present, and investors should be patient. The research report of CITIC Construction Investment pointed out that the market has fluctuated and corrected at a low level in recent days, the economic fundamentals are still expected to be weak, and the continued lack of incremental funds has increased the vulnerability of the market. The centralized repositioning and swapping of shares further amplifies the volatility of the market. Looking ahead, the current grinding will continue.
Guotai Junan also believes that investors should not be in a hurry to buy the bottom, and the current environment is still unclear. The reasons given by the agency include: first, the current underpinning policy is more concentrated in the public sector, which means that the policy spillover effect is weak, the currency multiplier is difficult to effectively boost, coupled with weak real estate and strict prevention and control, Corporate earnings expectations are facing downward revisions; second, the growth rate of renminbi deposits has continued to rise even when currency interest rates are very low, indicating that investors are extremely risk-averse and chasing assets with certainty, and the risk-free interest rate in the stock market has not followed the bond rate. The downside is instead an upswing, and risk appetite is down.
As of market close:
- It fell 0.77% to close at 2893.48 points;
- fell 0.05% to close at 10397.04 points;
- fell 0.65% to close at 2265.08 points;
- rose 1.67% to close at 1010.33 points.
Macro news:
Approved by the China Securities Regulatory Commission, starting from October 31, the first batch of market makers on the Sci-Tech Innovation Board will officially launch the market-making business of stocks on the Sci-Tech Innovation Board. As a support for the market-making and trading business of stocks on the STAR Market, China Securities Finance, the Shanghai Stock Exchange and China Settlement jointly issued and implemented the “Detailed Business Rules”, which clarified the relevant operations and procedures for securities companies to borrow stocks on the STAR Market from CSI Finance for market-making trading business. Require.
[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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Editor: Liu Chuan