The three major indexes of a shares were mainly volatile throughout the day, with a slight pull-up in the end of the day, with more than one drop and less rise of individual stocks, and more than 100 stocks were subject to trading limits. The profit making effect of the market is still good. On the plate, high-level vaccine stocks fell sharply. The main line of the market focused on the military industry, nonferrous metals, digital currency, semiconductor, software and other sectors. Near the end of the day, securities companies were in a sharp decline, and CSCI and CITIC Securities were trading at one time.
by the end of the day, the Shanghai stock index was up 0.26%, while the gem was down 1.60%. On the whole, hot spots were switched between market sectors, and the index’s high level was in a positive adjustment.
believes that the current market, after the continuous upward trend in the first half of the year, the accelerated pull-up in early July and the adjustment since the middle of July, has actually ushered in a new market. Driven by abundant liquidity and the recovery of corporate profits, the good trend of the market has not changed. But we should pay attention to the new changes in the market and the new investment main line.
there are 97 stocks trading limits today. Among them, gold, digital currency, military industry, chips and securities companies are popular. Please see the reasons for trading limits.
the price of gold has reached a record high again. As a safe haven asset, gold usually performs well in the event of violent market fluctuation or regional conflicts. Gold stocks in a shares are a small number of plates highly related to the international market, which are basically synchronized with the trend of gold price and closely related.
believes that gold, as an investment variety, will not generate interest income, and the corresponding investment cost depends on the actual interest rate of national debt. Compared with the trend of U.S. real interest rate and gold price in recent ten years, the two are highly negatively correlated. At present, the opportunity cost of gold is extremely low. Referring to the actual yield of 10-year Treasury bonds in the United States, the real yield is only – 0.92%, and the risk aversion and worry expectation are full of bullish gold.
according to media reports, the four major banks are testing digital wallet applications on a large scale in Shenzhen and other places, preparing for the official launch of digital currency. Digital currency is led by the central bank, and banks are testing the landing scenarios in the past few months.
said that bank it, payment landing scenario and underlying system are expected to be the core beneficiary industry chain. First of all, to meet the requirements of the central bank for digital currency issuance, as well as the commercialization opportunities brought about by the two-tier structure and market-oriented concept, commercial banks are expected to make a lot of IT investment. Secondly, since the central bank’s digital currency meets the function of dual offline payment, that is, DCEP digital wallets are installed on the mobile phones of both sides of the payment, even if there is no network, the digital currency transaction can be completed once the mobile phone is touched, so there is a great demand for the upgrading and transformation of the existing payment terminals. In addition, the encryption system needs the scheme support of domestic core manufacturers and recommends the main line of digital currency investment.
believed that in the industrial chain, the implementation of the central bank’s digital currency requires the transformation and upgrading of the existing IT system, which mainly includes three links: issuance, circulation and management. Focus on Changliang technology, Hengsheng electronics, Yuxin technology, gaoweida, Kelan software, etc.
the prosperity of the military industry may accelerate improvement, while the military material cycle is ahead of the overall military industry, with a high level of superimposed profits, and the plate is sought after by funds.
thinks that, from the perspective of valuation, although the current valuation of the military industry sector is higher than that of other industries, this is caused by the particularity of the military industry: many high-quality assets have not been put into the listed companies, and when the market valuates military companies, the high-quality assets in the parent company behind the listed companies are generally considered. Therefore, the valuation of the military industry sector should be compared with its own historical level. Judging from the quantile of valuation, the current valuation level of the military industry sector is only about 30% of the historical level, which is not expensive. On the contrary, there is still room for improvement.
the State Council issued several policies for promoting the high-quality development of integrated circuit industry and software industry in the new period, which requires us to continuously explore and build a new national system for tackling key core technologies under the conditions of socialist market economy. The domestic chip industry is stepping into a super cycle, the external competition in science and technology is increasing, and the supporting policies for the domestic integrated circuit industry are constantly superimposed.
believes that in terms of integrated circuits, the first phase of big fund has basically completed the industrial layout, mainly focusing on wafer manufacturing and other fields. The second phase of the large fund has also been launched and is expected to focus on semiconductor equipment and materials. In terms of software, under the background of independent control, there is a huge space for software localization. The party, government and army are the key areas of this year’s domestic substitution. In the eight pillar industries such as finance, telecommunications and electric power, the space for domestic substitution will be gradually released in the future. With the release of the policy, leading enterprises in the industry are expected to benefit from the double dividend of policy and localization substitution.
securities companies rose sharply at the end of the day, with Guosheng financial holding Trading Limited, China CITIC construction investment and CITIC Securities Trading Limited for a time, and both closed up more than 8%. Previously, there were rumors of merger between CITIC Securities and China Securities construction investment.
pointed out that the marginal improvement trend of some businesses of securities companies is obvious. In recent years, with the continuous rise of the market, the flexibility of securities companies in the brokerage and proprietary business sectors has become prominent. The self operated business of securities companies has benefited significantly, and the brokerage plate is expected to form Davis double click.
in terms of the lifting of the ban, the proportion of 20 shares to be lifted will exceed 5% in the next five trading days, including 72% of Chengtian Weiye and 2.301 billion of the amount.
believed that the good start in August showed that the market still had upward momentum, which was expected to break the shock box formed in July. The integrated circuit and software industry received heavy positive policy support, prompting the relevant sectors to open sharply on Wednesday. However, financial stocks fell, the market continued to adjust the pattern, and the gem index, which had just broken through the box, returned to the box. Military industry, science and technology, and rare earth showed strong performance. From the perspective of recent market performance, banks and insurance stocks are the market’s stabilizing needle, rather than the main line of the market. On Thursday, gold, military industry, steel and so on strengthened, while wine making, medical treatment, food and so on fell; in the end, the stock exchange plate rose sharply, driving the Shanghai index to strengthen. Recently, with the rise of the market, more and more shareholders of listed companies intend to reduce their holdings on a large scale, which has also become a factor restricting the market to further strengthen. China Daily has launched the market. It is suggested to pay attention to the state-owned assets reform, new energy vehicles, new infrastructure and other sectors with high degree of momentum and high certainty, so as to avoid chasing up and killing down.
said that any impact on the market during August would be a valuable opportunity to enter the market and lay out the next round of rise. In terms of configuration, we are optimistic about consumption, medicine and nonferrous metals.
it is predicted that the time for the market to continue to rise may be in the middle and late August. At present, the style of the proposal tends to be moderate, and the allocation of consumption is given priority to. It is waiting for the later stage of the Chinese newspaper to gradually pay attention to the economic intensity and start to lay out the finance and cycle.
pointed out that the market volatility will slow down in August, and the industrial prosperity and individual stock performance may become the main driving forces. In terms of style, the transformation from growth to value is taking place.
said that the market experienced a rapid correction after a rapid rise in July, optimistic about the rebound opportunity of the market after the correction in August, and suggested paying attention to the industries with high performance in the interim report.