The three major A-share indexes continued their downward trend today. As of the close, the Shanghai Stock Exchange Index fell 2.09% to close at 2833.62 points; the Shenzhen Component Index fell 2.58% to close at 8759.76 points; the ChiNext Index fell 3% to close at 1699.62 points. Market turnover continues to be sluggish, with the Shanghai and Shenzhen stock exchanges trading only 637.6 billion yuan today. The net sales of northbound funds were 13 billion yuan, and the single-day net sales hit a new high since October 2022.
Industry sectors showed a general decline trend, with photovoltaic equipment, tourism hotels, energy metals, biological products, aerospace, precious metals, batteries, and consumer electronics sectors leading the decline. Only household light industry and diversified financial sectors bucked the trend and rose.
In terms of individual stocks, only 280 stocks rose, and falling stocks rarely exceeded 5,000. Concept stocks with a high proportion of exports and high export sales bucked the trend and were active, with leading shares, Guangbo shares, Jin Qilin, Aojiahua, etc. reaching their daily limit. Diversified financial concept stocks opened strong, with Huajin Capital, Jiuding Investment, and Xinli Financial reaching their daily limit. On the downside, new energy stocks such as photovoltaics fell into adjustment, and Jinyuan shares fell by the limit; retail and other consumer stocks fluctuated lower, and Maoye Commercial fell by the limit.
Net northbound capital outflow was 13.057 billion yuan
There was a net outflow of northbound funds today. As of the close, the net outflow of Shanghai Stock Connect was 6.372 billion yuan, and the net outflow of Shenzhen Stock Connect was 6.684 billion yuan, for a total net outflow of 13.057 billion yuan.
industryCash flowTo: 267 millionnet inflowHousehold light industry
In terms of industry funds, as of the close, the net inflows of household light industry, diversified finance, railways and highways ranked high, of which the net inflow of household light industry was 267 million yuan.
In terms of net outflows, photovoltaic equipment, the brewing industry, and consumer electronics ranked high, among which the net outflow of photovoltaic equipment was 2.155 billion yuan.
Today’s news
National Bureau of Statistics: GDP will exceed 126 trillion yuan in 2023, an increase of 5.2%
On January 17, the State Council Information Office held a press conference on the performance of the national economy in 2023. According to preliminary calculations, the annual GDP was 126,058.2 billion yuan, an increase of 5.2% over the previous year at constant prices. In terms of industries, the added value of the primary industry was 8,975.5 billion yuan, an increase of 4.1% over the previous year; the added value of the secondary industry was 48,258.9 billion yuan, an increase of 4.7%; the added value of the tertiary industry was 68,823.8 billion yuan, an increase of 5.8%. Looking at quarters, GDP increased by 4.5% year-on-year in the first quarter, 6.3% in the second quarter, 4.9% in the third quarter, and 5.2% in the fourth quarter. From a quarter-on-quarter perspective, GDP increased by 1.0% in the fourth quarter.
At the end of 2023, the national population will decrease by 2.08 million people compared with the end of the previous year.
National Bureau of Statistics: The national population at the end of 2023 (including the population of 31 provinces, autonomous regions, municipalities and active military personnel, excluding Hong Kong, Macao and Taiwan residents and foreigners living in 31 provinces, autonomous regions, and municipalities) was 1,409.67 million, a decrease from the end of the previous year 2.08 million people.
In December 2023, the sales price of commercial residential buildings in various tier cities decreased month-on-month, with some increases and decreases year-on-year.
In December 2023, among 70 large and medium-sized cities, the sales prices of commercial residential buildings in all tiers of cities fell month-on-month, while rising and falling year-on-year. From a month-on-month perspective, in December, the sales price of newly built commercial housing in first-tier cities fell by 0.4% month-on-month, and the decline expanded by 0.1 percentage points from the previous month. Among them, Beijing remained unchanged, Shanghai increased by 0.2%, and Guangzhou and Shenzhen decreased by 1.0% and 0.9% respectively. The sales prices of newly built commercial residential buildings in second- and third-tier cities fell by 0.4% and 0.5% month-on-month respectively, with the decline increasing by 0.1 percentage points from the previous month. From a year-on-year perspective, in December, the sales price of newly built commercial housing in first-tier cities turned from a year-on-year increase of 0.3% to a decrease of 0.1%. Among them, Beijing and Shanghai increased by 1.7% and 4.5% respectively, while Guangzhou and Shenzhen decreased by 3.0% and 3.6% respectively. The sales price of newly built commercial residential buildings in second-tier cities increased by 0.1% year-on-year, and the increase was 0.1 percentage points lower than the previous month. The sales price of newly built commercial housing in third-tier cities fell by 1.8% year-on-year, and the decline expanded by 0.2 percentage points from the previous month.
National Development and Reform Commission: Vigorously promote the development of new industrialization and digital economy to accelerate the development of artificial intelligence
Accelerate the construction of a modern industrial system. Strengthen the national strategic scientific and technological strength, adhere to the integrated deployment of the innovation chain, industrial chain, capital chain and talent chain, thoroughly implement high-quality development actions for key industrial chains, and develop new quality productivity. Vigorously promote new industrialization, develop the digital economy, and accelerate the development of artificial intelligence. Create a number of strategic emerging industries and open up new tracks for future industries. Extensively apply digital intelligence technology and green technology to accelerate the transformation and upgrading of traditional industries.
The latest deployment of the State-owned Assets Supervision and Administration Commission!Promote central enterprises to do a good job in improving quality and efficiency and starting work
After two weeks, the State-owned Assets Supervision and Administration Commission of the State Council held another meeting to promote the central enterprises to start the work of improving quality and efficiency. Zhang Yuzhuo, Secretary and Director of the Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council, emphasized that central enterprises must keep a close eye on annual targets, strengthen research and judgment on market situations, increase investment in food security, energy and resource security and other fields, strengthen assessment guidance, and firmly maintain the bottom line of safe development.
institutional perspective
UBS: MSCI (China) Index has 15% upside potential in 2024
Lian Peikun, director of UBS Greater China Research Department, pointed out that the MSCI (China) Index has 15% upside potential in 2024. Of the 15% upside, 5% is driven by valuation. The current price-to-earnings ratio (PE) of the MSCI China Index is only 8 times, which is at the bottom of historical valuation. Another 10% is driven by earnings growth, of which corporate revenue is expected to increase by 7%.
Standard Chartered: There may be more room for industry selection in China’s stock market than in other markets
Liang Dawei, general manager of Standard Chartered China Wealth Management Department, believes that the space for industry selection in the Chinese stock market may be greater than in other markets, and it is recommended to overweight China’s telecommunications services industry, consumer discretionary goods, Chinese technology and other industries. Liang Dawei pointed out that China’s communications services industry’s earnings revisions are still positive and higher than China’s overall market, and investors are expected to benefit from improvements in consumer spending.
Haitong Securities: The market is expected to pick up as the internal and external policy environment improves, and there may be phased opportunities in the financial sector
Since the beginning of the year, the overall market trend of A-shares has been turbulent, but the performance of dividend assets has been quite impressive, which is in sharp contrast with the market situation. Looking back, the strong performance of the dividend strategy has lasted for three years, which is relatively rare historically. (1) The performance of dividend strategies in the past three years is different from that in history. Low market correlation + high winning rate makes investors focus on dividend strategies. (2) The defensive attribute of the bonus strategy has not changed. The weaker the market, the more obvious the bonus excess returns will be. However, as the market strengthens, the excess winning rate drops significantly. (3) The current valuation of A-shares is at a historical bottom, and the market is expected to pick up as the internal and external policy environment improves. There may be periodic opportunities in finance. During the mid-term profit upturn period, White Horse’s growth is expected to be better. Pay attention to hard technologies such as electronics and medicine.
China Merchants Securities: Weighted sectors are expected to rebound
Recently, policy support for the real estate industry has been further strengthened. The central bank has further increased monetary support for the real estate industry by restarting PSL and issuing housing rental loans. Social financing and RMB credit data in December last year showed that financing demand and supply were relatively stable. Looking forward, with the allocation and use of funds from the “three major projects” and the additional issuance of government bonds, it is expected to support the steady recovery of social financing in the future. As concerns about economic growth gradually ease, the previous preference for defensive value and small-cap stocks will become more balanced, and the heavyweight sector is expected to rebound.
Source of article: Oriental Fortune Choice data
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2024-01-17 10:41:15
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