The Effects of Travel Data on the Stock Market Trends
CITIC Securities has pointed out that the overall travel data for New Year’s Day in 2024 indicates a positive trend, with strong demand for leisure activities such as ice and snow tours. This data bodes well for the recovery of tourist flow during the upcoming Spring Festival, with expectations that it will surpass the same period in 2019. This uptrend reflects the increasing resilience of residents’ leisure travel consumption demand and points to a clear recovery trend for outbound travel as well. Favorable visa policies and a long Spring Festival holiday are predicted to drive the outbound travel market to achieve better-than-expected performance.
Meanwhile, Centaline Securities has reported that the A-share market experienced resistance and slight fluctuations on Tuesday. The stock index opened lower in early trading, encountered resistance near 2896 points, and fluctuated throughout the session. Certain industries, such as batteries, photovoltaic equipment, and auto parts, led the gains, while software, Internet, semiconductor, and other sectors experienced fluctuations and declines. Despite these fluctuations, the current average price-to-earnings ratios of the Shanghai Composite Index and the GEM Index are below the median level of the past three years, indicating that the market valuation remains low. The transaction volume of the two cities on Tuesday was lower than the median area of the average daily transaction volume in the past three years. The overall stock index is predicted to maintain a volatile pattern, and investors are recommended to pay attention to investment opportunities in finance, new energy, aviation, and airports in the short term.
Guosheng Securities also weighed in, noting that the Shanghai Stock Index demonstrated a volatile consolidation situation, with heavyweight stocks showing relative strength. Although the index fell below the previous low during the session, it closed above the 5-day line, and the trading volume increased. Similarly, the ChiNext Index broke its negative streak and formed a reverse positive line, with increased trading volume. The market style may become more balanced as concerns about economic growth gradually ease, and it is recommended to focus on oversold sectors in the short term and continue to pay attention to the AI industry and technological innovation in the medium term.
Securities Times advises that the content mentioned in the article is for reference only and is not substantive investment advice. Any operations based on this information are at the individual’s own risk. Stay updated on stock market trends and policy information by downloading the official APP of “Securities Times” or following its official WeChat account.