Stock Market Opens Lower, Hotel and Tourism Sectors Strengthen, Spring Festival Travel Orders Surge
On the morning of January 16th, the three major A-share indexes collectively opened lower, with the Shanghai Composite Index falling 0.16% to 2881.56 points, the Shenzhen Component Index falling 0.19% to 8946.93 points, and the ChiNext Index falling 0.24% to 1741.37 points.
The hotel and tourism sectors continue to strengthen, with Tongqing Tower approaching its daily limit, and Xi’an Tourism, Jiuhua Tourism, Changbai Mountain, Dalian Sunya, and others following suit.
According to Ctrip’s “2024 Spring Festival Tourism Market Forecast Report,” domestic travel, outbound travel, and inbound travel orders have significantly increased during the Spring Festival holiday, with Northern ice and snow tours and southern hot spring escape tours being popular domestic options. The report shows that travel orders increased by more than 7 times year-on-year, while outbound travel and inbound travel orders both increased by more than 10 times year-on-year.
In terms of stock market performance, medical cosmetology, coke processing, travel retail, and other sectors were among the top decliners.
Looking forward, Haitong Securities believes that the market may continue to maintain a volatile bottoming trend and recommends focusing on high-quality blue-chip sectors. Everbright Securities predicts that the A-share market may be coming to spring after winter, with the expectation that monetary policy will gradually end the winter and usher in spring.
The rise and fall ratio of all traded stocks in the Shanghai and Shenzhen stock markets was 1816:2416, and the balance of margin trading and securities lending in the markets was 1.64 trillion yuan.
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