Home » Panic was released, the A-share market counterattacked the GEM index rose more than 3% | Federal Reserve

Panic was released, the A-share market counterattacked the GEM index rose more than 3% | Federal Reserve

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Original title:[收盘评论]CFFEX Market on August 23: Panic was released, and the A-share market counterattacked. Source: Wenhua Finance

On Monday, the A-share market opened higher, and the ChiNext index rose more than 3%. As of the close, the Shanghai Composite Index rose 1.45%, the Shenzhen Component Index rose 1.98%, and the ChiNext Index rose 3.16%. In terms of stock index futures, IF2109 rose 1.58%, IH2109 rose 0.99%, and IC2109 rose 1.43%. Recently, the A-share market has fallen sharply due to factors such as economic data, easing and cooling policies, Fed Taper, and over-regulation of the industry. After the substantial adjustment, the panic was released. In addition, the performance of listed companies was generally better. Today’s heavyweight stocks rebounded, the subject stocks performed strongly, the sentiment of long funds was strong, and the disk volatility rose.

On the disk, the industry sector was generally popular, with machinery, instrumentation, special equipment, and metal products sectors leading the two markets; telecommunications operations, insurance, brokerage trusts, and banking performed weakly. Today’s industrial aircraft carrier concept stocks set off a daily limit wave,GenesisChunhui Intelligent ControlHuachen EquipmentZheidemanWait for the 20% daily limit of nearly 10 shares. On the news side, the State-owned Assets Supervision and Administration Commission recently held a meeting and pointed out that it will strengthen key core technology research for industrial mother machines, high-end chips, new materials, new energy vehicles, etc., strive to create original technology “sources”, and shoulder the responsibility of the “chain master” of the industry chain. Carry out a special action to strengthen the chain, strengthen the coordination of upstream and downstream industries, and actively promote the development of small, medium and micro enterprises.

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The overall profitability of listed companies is relatively strong, boosting market sentiment. As of August 23, a total of 1,447 A-share listed companies disclosed this year’s semi-annual reports. After excluding the banking and non-bank financial industries, 1,414 companies achieved a total operating income of 5.63 trillion yuan, a year-on-year increase of 33%, and the cumulative total The profit was 444.841 billion yuan, a year-on-year increase of 61%. Among them, 70 companies have doubled their revenue growth rate and profit growth rate. Among the above-mentioned 1414 listed companies, a total of 1,303 companies achieved profits in the first half of the year, accounting for 92%. The performance of many industries in the first half of the year was eye-catching, such as electronics, automobiles, construction machinery and equipment, which echoed the current high-prosperity track of semiconductors and new energy.

The Fed’s Taper is getting closer, and we need to focus on the Fed’s central bank seminar in Jackson Hole, Wyoming, or we can look for clues about the Fed’s expectations for the speed of economic recovery and the timing of policy tightening from the speech of Fed Chairman Powell. In July, the Federal Reserve Policy Minutes mentioned Taper for the first time, triggering market concerns about early policy tightening. However, the July Fed Policy Minutes showed that Fed officials still have big differences. Some committee members are worried about inflation and believe that it is necessary to be prepared to deal with inflation. Other committee members said that it will take time for the American people to return to work, and the Fed also needs to be patient. The Fed’s policy goals are full employment and price stability. The Fed has repeatedly mentioned the temporary nature of inflation, showing that its tolerance for inflation is increasing. Therefore, the next August non-agricultural data has become the top priority of the market.

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For the market outlook, Galaxy Securities believes that the possibility of systemic risks in the market outlook is low, and liquidity is still reasonably sufficient. Therefore, after the risk is released, there is no need to be overly pessimistic about the market outlook, but the market has insufficient upward momentum and still needs to pay attention to risks. The structure of style rotation The probability of sex market is greater. In the period when hotspots rotate fast and the market is highly differentiated, it is recommended to adopt defensive strategies, balance allocation, and pay attention to high-quality stocks with strong performance certainty.

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Editor in charge: Chen Xiulong

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