China News Client Beijing March 10th (Xie Yiguan) Panic plunge in the global stock market or ushering in a "one-day tour". On the 10th, the main stock indexes in the Asia-Pacific stock market closed up. The European and American stock market indexes also rebounded strongly. A-share performance It was even more powerful. Ten billion new funds reappeared, and Wuhan stocks staged a daily limit.

Market sentiment soars, the Shanghai index rushes to the 3,000 mark

When the European and American stock markets plummeted on the 9th, China's stock market was optimistic about Chinese and foreign institutions. The FTSE China A50 futures index stood out and rose 1.03% on the night. On the 10th, the FTSE China A50 Index futures rose strongly by more than 5%.

On the 10th, the three major A-share indexes opened lower and went higher, turning strong and rising. As of the close, the Shanghai Composite Index closed at 2,996.76 points, up 1.82%, again hitting the 3,000-point mark; the Shenzhen Component Index closed at 11,403.47 points, up 2.65%; the GEM Index closed at 2,148.81 points, up 2.66%.

The closing performance of major A-share stock indexes.

On the disk, a total of 3,060 shares in the two cities rose, 141 shares rose to a daily limit; another 577 shares fell, and 23 shares fell. Market sentiment continues to rise, with turnover in the two cities exceeding one trillion yuan throughout the day. The net inflow of funds from Beijing to Shanghai Stock Connect was 1.842 billion yuan, and the net inflow of Shenzhen Stock Connect was 3.783 billion yuan.

According to media reports, the "epic" plunge in the international market on the 9th has not extinguished the enthusiasm of the domestic people for investment. Ten billion new funds reappeared. On March 9, one day, Huitianfuzhongpan Fund grew, and E Fund CSI 50ETF and other funds sold out in one day.

Wuhan stocks stage a daily tide

Most of the A-share industry sectors are popular, with semiconductors, components, communications equipment, telecommunications operations, software services and other sectors gaining the most gains. In the concept sector, technology stocks performed well, and related sectors such as quantum communications, chips, and 5G concepts surged.

It is worth noting that the strong rise of stocks in the Hubei sector in the late afternoon caused market attention, Wuhan stocks staged a tide of daily limit, and nearly 20 Wuhan stocks such as Nanguo Real Estate, Chutian Expressway, Dongfeng Motor and so on.

Screenshot of Hubei plate.

Mi Feng, a spokesperson for the National Health and Health Commission and deputy director of the Department of Publicity, said at a press conference on the 10th that the number of newly diagnosed cases in Wuhan fell to less than 20 for the first time on March 9; The number of confirmed cases has increased; in provinces outside Hubei, there have been no new local confirmed cases for 3 consecutive days. All regions are focusing on the prevention and control of zoning, grading, and precision, and gradually promoting resumption of work, production, and schooling to restore order in production and life.

Mask stocks plunged, more than a dozen stocks fell

In addition, the masks sector, which had been rising before, fell more than 4% on the 10th, and dozens of related stocks such as Jiete Biotech, Soytech, and National Technology fell down. Affected by the epidemic, most mask stocks have increased by more than 100% this year.

The mask concept sector was the top loser.

According to a survey by reporters, as one of the important raw materials for masks, the demand for meltblown non-woven fabrics has skyrocketed. The price of meltblown cloth was less than 20,000 yuan / ton, and now it is quoted at more than 300,000 yuan / ton, even 400,000 to 500,000 yuan High price per ton.

On the news, it is understood that the General Administration of Market Supervision has recently issued an urgent notice to Tianjin, Shanghai, Jiangsu, Zhejiang, Anhui, Shandong, Henan, Guangdong and other 8 provinces and cities to conduct a special investigation on the price of meltblown nonwovens. It is required to further strengthen the price situation of meltblown non-woven fabrics, ensure price stability, and conduct special surveys on the prices of meltblown non-woven fabrics in some provinces.

A-share market enters turbulence period, bull market pattern remains unchanged

With the decline of peripheral stock markets, whether A-shares will become a safe haven and concerns about getting out of the independent market are increasing.

"The broader market index will still run between 3000-3300 points." Huang Yanming, director of Guotai Junan Securities Research Institute, said that due to the repeated impact of the epidemic, the Shanghai Index appeared to be below 3000 for a period of time. From now on, the broader market should gradually stabilize at 3000 points and then move towards 3300 points.

Fan Jituo, chief strategy analyst of New Times Securities, believes that the A-share market has entered a period of shock. Taking into account the long-term positive trend of A-share funds and reasonable valuation, the shock period is as short as one month and as long as one quarter, and the direction is still upward after the shock. The bull market pattern has not changed, but demand is still participating in the market at a slow bull pace in the short term.

Data Map: Shareholders of Shanxi Taiyuan No. 1 Securities Business Department are discussing. China News Agency issued a photo by Wu Junjie

Chinese and foreign institutions are optimistic about the performance of A shares, and have funds to reverse positions

Citi said that the inflection point of China ’s new crown pneumonia epidemic can now be basically judged. Under the stimulation of a series of fiscal and monetary policies, China's stock market will soon recover, optimistic about China's market-oriented enterprises and the new infrastructure investment sector.

Chu Cai Securities analyst Chen Li believes that from the perspective of policy, liquidity and profit, the A-share market still has greater support, while the Shanghai Composite Index closed at March 9th PE (TTM) was 12.69 times, compared with the S & P 500 (20.74 times), the Dow Jones Industrial Index (20.41 times), and the Nasdaq index (32.94 times) still have large gaps, and they are also in a valuation depression globally.

According to the Shanghai Securities News, many fund managers have stated that the performance of A shares will continue to be positive in the medium and long term, and A shares are expected to become a safe haven for global funds. With the continuous influx of new funds, institutional funds have begun to increase positions against the trend.

Chen Li said that with the domestic capital market opening to the outside world and the continuous inflow of foreign capital, it is expected that there is still much room for improvement in the valuation of A shares. (Finish)