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Beijing, Beijing, May 6 (Xie Yiguan) On the 6 th, the three major stock indexes of A shares gapped lower and continued to fall in intraday trading. Individual stocks generally fell, and the industry sector was exhausted. The three major stock indexes all fell below the 60-day moving average, the Shanghai Composite Index fell below 3,000 points, and the risk was 2,900 points. More than 1,000 stocks in the two cities fell.
At the close, the Shanghai Composite Index dropped 171.88 points, or 5.58%, to close at 2906.46 points. The Shenzhen Component Index fell more than 700 points, down 7.56%, and then lost 9000 points after falling below the 10,000-point mark, closing at 8943.52 points. The Growth Enterprise Market Index fell 7.94%, falling below the 1600 and 1500 mark and closing at 1494.89. The turnover of the two cities in the whole day was 657.912 billion yuan, which was significantly enlarged compared with previous trading days.
Today, the A-share sector all fell green. Brokers in the industry sector almost fell, while telecom operations, IT equipment and software services were among the top losers, falling more than 8%. The banking sector with the smallest decline also fell more than 2%. In the concept sector, domestic software, 5G concepts and chip concepts fell by over 9%.
On the disk, the stocks in the two cities are generally falling, with only 109 stocks closing up, 3,467 stocks falling and 1,147 stocks falling. Among the limit stocks, the GEM has become a concentrated place, with over 300 GEM stocks falling. It is worth noting that there are more than 100 5G concept stocks among the stocks that have fallen below the limit.
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Not only A shares, but also Hong Kong stocks were under pressure on the 6th. As of press time, the Hang Seng Index fell more than 3% to 29,062.57 points. The index of state-owned enterprises also fell more than 3% to 11161.9 points; The red chip index fell more than 2.9% to 4,483.47 points.
On the 6th, the central parity of RMB against the US dollar was lowered by 58 basis points to 6.7344, the lowest since February 20th. In the morning, the offshore RMB fell sharply against the US dollar, falling below the 6.80 mark and once rushing to 6.8211.
On the same day, the Central Bank of China announced that a lower deposit reserve ratio will be implemented for small and medium-sized banks from May 15, and about 1,000 county-level rural commercial banks can enjoy this preferential policy, releasing about 280 billion yuan of long-term funds.
It is worth noting that on the 6th, A-shares went northward with a net outflow of 5.188 billion yuan, including 3.072 billion yuan from Shanghai Stock Connect and 2.116 billion yuan from Shenzhen Stock Connect. In the past April, the net outflow of northbound funds was 17.997 billion yuan, the second highest in a single month in history.
However, MSCI’s first increase in the proportion of A shares from 5% to 10% will take effect at the end of May. CICC estimates that the proportion of passive funds may be around 20%, and about 20-30 billion yuan will enter the market around the end of May.
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According to a recent report of CICC, the short-term pressure of A-shares has been released after previous adjustment, and the overall valuation is not high. Therefore, the future outlook of A-shares should not be overly pessimistic, and structural opportunities may still be positive, focusing on the general trend of consumption upgrading and industrial upgrading.
On April 30th, the National Bureau of Statistics and China Mining Association released data. In April, the purchasing managers’ index (PMI) of manufacturing industry was 50.1%, down 0.4 percentage points from the previous month, and remained in the expansion range. Guangfa Hang Seng believes that the structural contradiction of China’s economy still exists, and the economy is in transition to recovery, and the market will still repeatedly play games around theme stocks.
Some securities analysts believe that compared with before and after the Spring Festival, the market’s expectation of economic and policy trends is more uncertain. However, many institutions believe that although the unilateral rise in the first stage has passed, the safer configuration window in the market outlook needs to wait further, and the market is expected to enter the second stage.
Haitong Securities Strategy Team issued a document saying that this wave of adjustment since 3288 points of the Shanghai Composite Index belongs to the retreat after the first-stage valuation of the bull market has been repaired and increased. In the short term, the phased adjustment has not yet ended, and it is necessary to wait for the fundamental relay when the future rest ends and enters the second wave of the bull market.
Founder Securities pointed out that the next four weeks will still be an important observation window. In the first week after the May Day holiday, if the Zhouyang line can be closed, it will help to resolve the risk of further decline, which deserves special attention. (End)