A-Share Stock Indexes Rebound in Early Trading
In early trading on February 7, the three major A-share stock indexes in China continued to rebound, with the Shanghai Stock Exchange Index regaining 2,800 points. According to data from Wind, the Shanghai Composite Index rose 0.91% to 2814.89 points, the Shenzhen Component Index rose 2.95% to 8710.22 points, and the GEM Index rose 2.31% to 1705.93 points by midday closing.
Among Shenwan’s primary industry sectors, the defense and military industry, pharmaceutical and biological, and automobile sectors were among the top gainers, while only the banking sector fell. In the conceptual sectors, rare earth permanent magnets, rare earths, and soda ash were the top gainers, while urban village renovation, ice and snow tourism, and Huijin shareholding sectors were the top losers.
Shenwan Hongyuan Securities believes that the market’s expected revision of key national defense and military industry positions has been completed, and orders continue to advance and are confirmed to be implemented. The valuation of the military industry is at a historical bottom range, and the subsequent earnings per share (EPS) and valuation of the military industry are expected to be revised upward, ushering in a market trend.
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Source: China Securities Journal・China Securities Network