On Wednesday, major stock indexes in the market closed down collectively. The Shanghai Composite Index fluctuated weakly throughout the day, and 3300 points were gained and lost again; the ChiNext Index was significantly weaker than the main board, and fell unilaterally throughout the day, and fell by more than 2% during the session. In terms of sectors, the Shenzhen registration system, automobiles, Hainan sectors and other sectors led the rise, while the biological vaccines, national defense and military industry, consumer electronics sectors ranked among the top in the declines. The stocks in the two markets fell more than the rise, and there were only about 40 stocks with an increase of more than 10%, and the market sentiment was generally sluggish.
From the market perspective, active hot money is chasing new stocks in the registration system. Cabeyi, which is superimposed on Tesla's concept, hit the daily limit for four consecutive days and became the leading stock. The stock price rose from a low of 60 yuan to 127.5 yuan, and the stock price doubled in just four days; in addition, it also included Daye Co., Ltd., Canaan Intelligent, Oulutong, Blue Shield Optoelectronics, Shengde Xintai and other stocks assisted to hit the daily limit. Recently, new stocks in the registration system have been sought after by market funds, which is essentially an oversold rebound. The Shenzhen Registration System Index fell from the high of 3021 on August 25 to the low of 1787 on September 11, with the maximum drop reaching 40%. The index rose rapidly in recent days, with today's high reaching 2500 points, and the rebound increased by as high as 40%. Combined with the data of the Dragon and Tiger List, the funds participating in the registration of new shares are mainly securities business departments, and institutional funds are relatively small.
northbound funds fell first and then rose today. After opening, they had a unilateral net outflow. As of 10:18, the net outflow exceeded 2.5 billion yuan. Then they began to replenish their positions and closed to a net inflow of 742 million yuan. From the low point, a total of nearly 3.3 billion yuan was returned. It is worth noting that the northbound funds continue to diverge within the country, with the Shanghai Stock Connect having a net inflow of 2.228 billion yuan, while the Shenzhen Stock Connect having a net outflow of 1.486 billion yuan, which is completely different from the purchase of more than 3 billion yuan in the Japanese and Shenzhen Stock Connect. The northbound funds prefer individual stocks in the Shanghai market, which is basically consistent with today's Shanghai's stronger than small and medium-sized enterprises. Overall, the inflows and outflows of northbound funds are still relatively repeated. Over the long run, net outflows are still the main focus and have not turned optimistic about the market.
recently shrank and fluctuated. Today, the turnover of the two markets further shrank to 684.3 billion yuan, hitting a new low in recent times. "The land volume restores the land volume", and the overall wait-and-see sentiment of funds is relatively strong. Currently, the Shanghai Composite Index is running below 3300 points, and the ChiNext Index fluctuates below 2600 points. Only when the two major stock indexes return to the upper bottom edge of the previous box can they truly establish a strong position. Before this, the market is viewed with a shrinking volume fluctuation. In terms of operation, considering that the market volume continues to shrink and lacks the main line to activate market sentiment, controlling the overall position is the primary choice. Radical investors can lightly explore individual stock trading opportunities, such as oversold new stocks in the registration system and high-quality stocks that were wrongly killed. Stable investors still need to wait patiently for the new main line of the market to appear before increasing their operations.
(Statement: The content of the article is for reference only and does not constitute investment advice. Investors act on this basis at their own risk.)
(Source: Yuesheng Financial Management)
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