bandicootps4| The Beijing Stock Exchange surged sharply against the market! Military stocks rose strongly, and the non-ferrous sector adjusted significantly
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Stocks on the North Stock Exchange are active against the market.
Affected by the correction of many sectors such as non-ferrous metals, real estate, architectural decoration and so on, the Shanghai and Shenzhen stock markets continued to fluctuate and weaken after opening today, with the Shanghai Composite Index, Shenzhen Composite Index and gem all down more than 1%. Most of the plates are in the process of adjustment, and the military industry, consumer electronics and other sectors are strengthening against the market.
At the time of the adjustment of the Shanghai and Shenzhen stock markets, the Beijing Stock Exchange was active against the market. Avite and Kaihua Materials rose 30%, while Huami Xincai and Yabaoxuan rose more than 20%.
Hong Kong stocks also adjusted across the board today, with the Hang Seng Index and Hang Seng Technology Index falling more than 1%, while non-ferrous metals, real estate, automobiles and other sectors fell significantly.
The across-the-board correction in the Shanghai and Shenzhen stock markets and Hong Kong stocks is more likely to be affected by the Fed's expectation of raising interest rates. In the early hours of Thursday morning Beijing time, the Fed released the minutes of the April Federal Open Market Committee (FOMC) policy meeting. The minutes show that the Fed is disappointed with the recent inflation data and is willing to tighten policy further if necessary without further cooling. Affected by this, US stocks also fell sharply across the board overnight.
The Beijing Stock Exchange is active against the market.
At the time of the A-share correction, the stocks of the Northern Stock Exchange rose against the market, and the seesaw effect appeared again.
As of press time, Aweite and Kaihua materials rose by 30%, Huami new materials and Yabao Xuan rose by more than 20%, and Fuheng new materials, Zhisheng information, Wuxi Dingbang, Huitong new materials, Fengguang precision and other stocks rose more than 10%. The northern 50 index rose more than 3%.
According to open source securities research, since March 2024, the liquidity of the Beijing Stock Exchange has gradually entered a new normal position, and the average daily turnover rate has been maintained between Science and Technology Innovation Board and the growth Enterprise Market, which also marks the end of the valuation revaluation of the North Stock Exchange brought about by liquidity. In terms of style, in the last round of liquidity-driven revaluation, small-cap stocks and low-profit stocks had the largest revaluation, and the price-to-earnings ratio was high. In the next step, the market focus may also shift from small and medium-sized market capitalization style to growth style.
Open source securities said that from Science and Technology Innovation Board, gem growth stock case point of view, 2 years after the listing of a number of growing companies gradually growing. Looking back on the opening of the Beijing Stock Exchange for two and a half years, the average R & D expenditure rate of enterprises listed on the North Stock Exchange in 2023 is 6.Bandicootps4.45%. At present, there are a number of medium-sized enterprises with a market capitalization of 1 billion yuan to 1.5 billion yuan, a PE of 12 times to 15 times, a profit volume of 80 million yuan to 100 million yuan and sustained performance growth on the North Stock Exchange. These companies still have investment opportunities.
Guoxin Securities believes that the State Council has issued some opinions on strengthening supervision and preventing risks to promote the high-quality development of the capital market (the new "National Nine articles"), improve the multi-level capital market system, and adhere to the misplaced development of the main Board, Science and Technology Innovation Board, gem and the Beijing Stock Exchange. the market value of the North Stock Exchange has been further highlighted.
Military industrial stocks rose strongly.
In early trading today, A shares as a whole were in a state of adjustment, military stocks strengthened against the market, Tianhai Defense and Xinyu National Science and Technology rose more than 10%, Great Wall military industry rose by 10%, and China Shipping Emergency, Tianqin equipment and Northern Changlong rose more than 5%.
Tianfeng Securities believes that the new quality productive forces and new quality combat effectiveness are pulled in both directions, the industrial chains in various fields work together to create new quality productivity and new quality combat effectiveness growth poles, and the military industry has entered an era of new quality two-way development. The new quality productivity represents the possibility of mankind moving towards a new generation of industrial revolution, and it is also a common strategic direction of emerging science and technology all over the world, and the civilian use of military technology may come again. The technologies of the new quality productivity and the new quality combat effectiveness are of the same origin, and there are a large number of overlapping fields in many fields, such as satellite Internet, robot, Beidou system, strategic energy, low-altitude economy, quantum technology, and so on. The military industry is expected to serve as the Chinese army in the new quality productivity.
Large adjustment of non-ferrous plate
Commodity markets have been volatile in recent days, with a sharp correction in precious metals and non-ferrous prices, showing caution about the current overheated uptrend.
In this context, A-share precious metals, non-ferrous metals, small metals and other plate adjustment, individual stocks, the northern copper industry, Baiyin Nonferrous, Shengtun Mining (rights protection) and other adjustments are relatively large.
Hong Kong stocks non-ferrous metals plate also fell sharply, Jinchuan International, Ganfeng lithium industry, China's non-ferrous mining industry led the decline.
On the news, the latest minutes of the Fed meeting show that Fed officials need to continue to wait and see on the inflation data in order to be more confident that inflation will fall to the target. After the minutes were released, traders reduced their bets that the Fed would cut interest rates more than once this year. The hawks were bearish on metals, and futures prices of metals such as gold, silver, copper, nickel, aluminum and zinc fell across the board.
ITC Futures believes that recently, a number of Fed officials have made hawkish remarks that the Fed is expected to cut interest rates repeatedly, and the non-ferrous sector is running high. On the domestic side, the main economic data in April showed a pattern of strong supply and weak demand, and the repair of industrial growth was obvious, but investment in fixed assets declined across the board, and real estate investment was still a major drag. Recently, a number of real estate stimulus policies have been introduced, and the follow-up policies are still expected to make further efforts.
Everbright Futures said that the minutes of the Fed meeting showed that due to the poor inflation data in the first quarter, the Fed would observe the data for longer before it would be more confident that inflation would fall to its target. Another official said that if inflation reignited, it would raise interest rates further. The minutes of this Fed meeting expressed unusually hawkish views and continued to depress market confidence in cutting interest rates. On the domestic side, steady growth is still the tone, whether it is the issuance of ultra-long-term treasury bonds or local real estate policies continue to boost market sentiment. In terms of fundamentals, demand continues to be weak under high copper prices, and domestic social inventory statistics are still increasing. Commodity markets were volatile last night, with precious metals and non-ferrous prices weakening one after another, showing caution about the current overheated upward momentum, although there is an intention to correct, but combined with the negative feedback from recent high copper prices, it is necessary to prevent this round of market from entering the possibility of medium-term adjustment.
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