htmlOn September 29, the three major stock indexes opened high and closed low and , and the Shanghai Composite Index closed green; the trading volume of the two markets hit a new low in 23 months.
Shanghai and Shenzhen stock markets continued to shrink throughout the day, with a turnover of only 624.5 billion yuan, a decrease of more than 22 billion yuan from the previous day. In terms of funds, market funds continued to have net outflows for many days, reaching 13.485 billion yuan on the same day; northbound funds increased their positions against the trend, with a daily net inflow of 3.429 billion yuan.
stocks in the two markets fall more and rise less, but the number of rises and falls is almost the same; in terms of sectors, cyclical sectors such as gas, non-ferrous metals , coal and chemical industry performed actively, and pharmaceutical-related sectors such as CRO concept and medical equipment continued to rebound; in contrast, the real estate development, hotel and scenic spot tourism sectors continued to pull back, and the beer, education, shipping, textile and other sectors were sluggish.
At present, the Shanghai Composite Index is approaching 3,000 points. Under the continuous decline, some individual stocks have hit new lows this year. Judging from the technical indicators, since most of them have reached or approached the historical bottom level, even if the market still has the possibility of inertia falling in the short term, the risks have been released to a certain extent. With the continuous positive policies, market expectations are loose and rebound is about to break out, and blindly bearishness is no longer necessary.
Huashang Daily reporter Jiangning
