Chinanews Client Beijing, March 24th (Xie Yiguan) On March 24th, after the A-shares opened higher, the intraday gains rebounded. The Shenzhen Index and the GEM index turned green once. They were pulled down strongly in the late afternoon. Large-cap indexes closed up more than 2%. Institutions believe that in the context of global financial market turbulence, the A-share market is expected to take the lead in stabilizing and recovering.
A-share "V" rebounded, more than 3,000 stocks in both cities rose
On the 24th, the FTSE China A50 Index opened up 2.3%. As of press time, the index is still up more than 4%.
As of the close, the Shanghai Composite Index rose 2.34% to 2722.44 points, returning to 2,700 points; the Shenzhen Component Index rose 2.37% to 9,921.68 points; the GEM Index rose 2.73% to 1,876.91 points. The turnover of the two cities reached 712.5 billion, which was a heavier volume than the previous trading day.
On March 24th, the Shanghai stock market trended intraday.
On the disk, a total of 3178 shares rose in the two cities, 88 shares daily limit; another 481 shares fell, 19 shares daily limit. The gold concept lifted the tide, and 10 related stocks including Oriental Jinyu, Zhongrun Resources and Intime Gold closed the daily limit.
The industry sector was all the rage, with the automotive sector leading the way, followed by nonferrous metals, insurance, brewing, and engineering equipment. In terms of the concept plate, the gold concept led the gains throughout the day, and the pork plate also rose sharply. Prior to the fire, the lithography machine plate continued to perform poorly.
Foreign capital returns to net buying, insurance capital accelerates to dip into the market
After the net outflow of northbound funds for several consecutive days, foreign capital turned around and returned to the A-share market. On the 24th, the net inflow of northbound funds was 3.987 billion yuan, of which, the net inflow of Shanghai Stock Connect was 3.063 billion yuan and the net inflow of Shenzhen Stock Connect was 924 million yuan.
Huatai Securities said that the domestic epidemic was under control earlier than overseas. Under the relief of external liquidity pressures, China and the United States have widened interest margins and ample room for domestic monetary policy. In addition, domestic counter-cyclical policies in March are expected to exert force, and A shares will be overseas Real safe-haven assets in the escalation of the epidemic.
In addition to the return of foreign capital, insurance capital is also accumulating a dip in the market. Comprehensive internal data provided by mainstream insurance institutions shows that in the three days since March 17, more than 10 billion yuan of insurance funds have been copied into the market.
CPIC Life announced on the evening of the 23rd that its second listing of Jinjiang Capital in one month, and its shareholding ratio rose to 10.46%. Counting the latest plaque of CPIC Life, since the beginning of 2020, the insurance company has listed the listed company for 7 times, among which the target of the plaque has been Hong Kong stocks for 5 times.
"Beginning this year, the continued entry of mainland insurance capital into the Hong Kong stock market has become an important main force for southbound capital." Chuancai Securities pointed out that in the past month, the top two stocks of the net purchase amount of southbound funds were the Construction Bank of China and the Industrial and Commercial Bank of China. In addition, Agricultural Bank of China and Bank of China also ranked sixth and ninth in net purchases.
Zhou Liang, vice chairman of the China Banking and Insurance Regulatory Commission, introduced at a press conference on the 22nd that insurance companies have now become the second largest long-term institutional investor in China's capital market. At present, the balance of our insurance funds has reached 18.8 trillion yuan. The scale of the fund reached about 2 trillion yuan, accounting for 10.8% of the balance of insurance funds.
"In the next step, the CBRC will give insurance companies more autonomy under the principle of prudent supervision." Zhou Liang said that for insurance companies with higher solvency ratios and better asset matching conditions, they are allowed to invest 30% in existing equity. On the basis of the upper limit, the investment proportion of equity assets can also be increased moderately.
Data chart: Shareholders in the trading hall of a securities company. Photo by China News Agency reporter Liu Zhongjun
Institution: A-share market is expected to take the lead in stabilizing and rising
Regarding the performance of the A-share market, the Chen Guo team of Anxin Securities believes that from the perspective of the A-share's own valuation and investment value, the valuation contains expectations that are already pessimistic. At present, A-shares have a significant allocation value. Considering the impact of risk-free returns, A The new attractiveness of the recent valuation of the stock is close to the market bottom level in early 2019. The most panic phase of the global financial market has passed. Against the background of the relief of the current overseas liquidity crisis, it is optimistic about A shares.
"The domestic epidemic is nearing completion, and full-scale resumption of production and production is coming to an end. Supervisors will continue to introduce policies to boost the economy and stabilize the hearts of the people. Once the risk of a decline in the outer disk is fully released, the A-share market is likely to stabilize and recover first. Securities states.
Huaxin Securities also believes that for A shares, each plunge in U.S. stocks will be a test for the A-share investors' psychological level. However, at present, the A-share point area does not have the basis for a continuous sharp plunge, and the probability is already at the end of the phase adjustment. (Finish)