China News Client Beijing March 11th (Xie Yiguan) On the 11th, the Asia Pacific Japan and South Korea stock markets closed down. The three major A-share indexes also turned green collectively, and the Shanghai Index lost another 3,000 points. The analysis believes that the A-share market has temporarily absorbed the negative impact of the plunge in the outer disk, and RMB assets have certain hedging characteristics. It is expected that the domestic capital market, including A-shares, will perform better than overseas markets.
A shares fluctuated around 3,000 points, Wuhan and Hainan stocks are now trading at a tide
On March 11, the FTSE China A50 index futures opened up 0.6%, but then turned lower. At press time, FTSE China A50 index futures fell more than 1.44%.
A shares also failed to extend their gains. The three major stock indexes opened higher and lower, and the Shanghai index fluctuated by 3000 points. As of the close, the Shanghai Composite Index closed at 2986.52 points, down 0.94%, and again fell below the 3,000-point mark; the Shenzhen Component Index closed at 11200.05 points, down 1.78%; the GEM Index closed at 2101.46 points, down 2.20%.
The closing performance of major A-share stock indexes.
On the disk, a total of 1019 shares in the two cities rose, 86 shares limit; another 2569 shares fell, 12 shares fell. The turnover of the two cities reached 972.9 billion. Northbound funds reversed the trend of backflow, with a net inflow of 755 million yuan from the Shanghai Stock Exchange and a net outflow of 6.127 billion yuan from the Shenzhen Stock Exchange.
The A-share industry sector has more greens and less red, and the technology sector has turned from strong to weaker. Semiconductors, software services, the Internet, and IT equipment have fallen sharply.
On the 11th, the relevant stocks in the Hubei sector continued to perform a daily limit tide, and 11 stocks closed their daily limit. Among them, Jinglun Electronics, Wuhan Holdings, East Lake High-tech and other nine Wuhan stocks closed the daily limit. Wuhan planning concept also rose slightly.
The closing performance of some stocks in the Hubei sector.
On the 11th, Hubei Province issued a notice on “the orderly promotion of the resumption of production and the resumption of production and the safe movement of personnel within the province”. The province takes the county as a unit to divide low, medium and high risk areas. .
In addition, the Hainan plate became a big bright spot, closing up 4.75%, and the intraday limit of more than 10 Hainan stocks; the Hainan free trade concept plate rose 2.84%.
According to the Development and Reform Commission, Hainan Province will formulate a plan to revive Hainan ’s tourism industry after the epidemic in the short, medium, and long term, and issue the “Hainan Tourism Industry Revitalization Plan (2020-2023)” and “Hainan Tourism Market” Promotion of Promotion Implementation Plan ", after the epidemic situation is stable, a series of activities of the International Year of Tourism Consumption will be launched.
Most Asia Pacific stocks closed lower, U.S. stock index performance was poor
Except for A-shares, other major Asia-Pacific stock indexes have failed to perform a continuous rise. On the 11th, the Nikkei 225 fell 2.27%, the Korea Composite Index fell 2.78%, and the Hong Kong Hang Seng Index fell 0.63%.
The closing performance of Japan and South Korea's major stock indexes.
As for the European and American stock markets, the main European stock indexes rose collectively at the opening of the 11th. As of press time, the British FTSE 100 index rose 1.99%; the French CAC40 index rose 1.93%; the German DAX index rose 1.77%.
European major stock indexes performed intraday.
On the 11th, the Bank of England suddenly cut interest rates by 50 basis points. The Bank of England said it announced the decision to fight the epidemic and would take further steps to support the UK economy. The new SME loan scheme can provide more than 100 billion pounds of loans for four years.
The decline in US stock index futures is now expanding. The Nasdaq 100 futures are now down 2.37%, and the S & P 500 futures are down 2.49%.
Kerry Craig, global market strategist at JPMorgan Chase Asset Management, said the delay in the White House ’s response to the epidemic would increase the risk of a decline in US employment growth and rising unemployment.
"In the short term, because overseas epidemics are still serious, U.S. stocks may continue to shake for some time." Pan Xiangdong, chief economist at New Times Securities, told reporters.
Can A-shares continue to emerge from the independent market in the future?
Faced with the "roller coaster" of global stock markets, whether A shares can get out of the independent market has become a concern.
From the perspective of "asset price-performance ratio", Guotai Junan Securities believes that the current price-performance ratio of China's stock market is significantly better than that of US stocks.
"At present, the risk appetite in the Chinese market is steadily rising, the discount rate is easy to fall, and the strong hedging makes profit repair more certain; while US stocks happen to be the opposite, the risk appetite has fallen sharply, the discount rate has reversed due to the failure of the monetary policy system, The limited utility of policy instruments exacerbates expectations of profit deterioration, and there is a certain risk of transaction congestion. "Guotai Junan pointed out.
Zhongyuan Securities believes that after Tuesday's bottom recovery, the market temporarily digested the negative impact of the plunge in the outer disk. Whether the Shanghai Index can once again challenge above 3,000 points depends on many factors such as strong domestic policy support.
Data chart: Shareholders of a securities company's business department are concerned about stock market developments. Photo by China News Agency reporter Luo Yunfei
"Overseas epidemics have spread across the country, and China's efforts have gradually brought the domestic epidemic under control, and companies have resumed work and production in an orderly manner," Pan Xiangdong told reporters. At present, compared with developed countries, China's currency, fiscal and industrial policy space bigger.
"The Chinese economy is relatively better than that of overseas economies, and RMB assets have certain hedging characteristics. Domestic capital markets, including A-shares, will perform better than overseas markets." Pan Xiangdong said, "but also be vigilant if overseas economies significantly The downward trend may lead to further damage to China's industrial chain and exports, which will have an impact on the Chinese economy and A shares. "(End)