Sino-Singapore Jingwei client April 10 (Xinhua) A-shares shocked and diverged after the opening of the market, the market sentiment was cautious, the Shanghai index opened higher and lowered, fell below the 2800 point integer mark, the Shenzhen Component Index was weak. In the afternoon, the decline in the index expanded, and the GEM index fell more than 2%. Technology stocks collectively fell, and water, shipping, transportation facilities, insurance and other sectors strengthened.

As of the close, the Shanghai Composite Index reported 2796.63 points, a decrease of 1.04%, with a turnover of 246.376 billion yuan; the Shenzhen Component Index reported 10298.41 points, a decrease of 1.57%, and a turnover of 425.685 billion yuan; the GEM Index reported 1949.88 points, a decrease of 2.37%.

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On the disk, white goods, insurance, ports, beverage manufacturing, feed and other sectors led the gains; fisheries, semiconductors, communications equipment, computer applications, computer equipment and other sectors fell the most.

In terms of concept stocks, Hangzhou Asian Games, Hangzhou Bay Greater Bay Area, household appliances, beer, ophthalmology and other medical products rose the most, while Facebook concepts, lithography machines, gallium nitride, Huawei Hisilicon concepts, and WeChat applets declined the most.

In terms of individual stocks, 528 stocks rose, among which 64 stocks such as Ningbo Jingda, Jiangnan Water, Honghui Fruits and Vegetables rose more than 5%. 3227 stocks fell, of which 150 stocks such as Shanghai Kaibao, Xingsen Technology, and Naipeng Mining Machinery fell more than 5%.

On the news, on April 9, 2020, the Central Committee of the Communist Party of China and the State Council formally issued the "Opinions on the Construction of a More Perfect Market-Based Allocation System for Factors". The "Opinions", as China's first factor market-oriented configuration file, have released major reform signals.

What is the impact on A shares? Northeast Securities believes that it is conducive to increasing market risk appetite and good for securities brokers, technology and other related sectors. The financial aspect mainly involves the element of capital. On the one hand, it emphasizes the development of direct financing, increasing the supply of financial services for small and micro enterprises and private enterprises. On the other hand, it emphasizes the expansion of the opening of the financial industry to the outside world. The science and technology aspect mainly involves technical elements and data elements. First, the technical elements emphasize the protection of intellectual property rights and the promotion of the classification reform of scientific research institutes. Secondly, the data element market mainly emphasizes the open sharing of government data and the value of social data resources.

From the perspective of the main beneficiary sectors and directions, Northeast Securities believes that subdivisions such as intellectual property, big data, and government informatization may benefit.

Huatai Strategy believes that the high probability of factor market reform significantly improves the A-share risk premium, maintains medium- and long-term optimism about A-shares, and increases short-term optimism. From a policy perspective, pay attention to the data collection, data processing, data application, and data security related to the TMT segmentation industry related to the cultivation of the data element market, and promote the integration of technological factors and capital elements to develop innovative opportunities for securities firms and diversified finance.

Industrial Securities pointed out that the "Opinions" encourage the standardization of data collection in the fields of artificial intelligence, wearable devices, Internet of Vehicles, Internet of Things and other fields, and promote the improvement of the data classification and security protection system. It is recommended to pay attention to the relevant directions of the technological infrastructure in the new infrastructure, including 5G, Internet of Things, Internet of Vehicles, big data, new energy vehicles, artificial intelligence, etc. (Sino-Singapore Jingwei app)

(The opinions in this article are for reference only, and do not constitute investment advice. Investment is risky and you need to be cautious when entering the market.)