China's A shares soared on Monday, the Shanghai index rose more than 5% and broke 3300 points
China News Agency, Beijing, July 6th (Reporter Chen Kangliang) On the 6th, the four major A-share stock indexes in China all rose. Among them, the Shanghai Composite Index rose more than 5%, breaking the 3300 mark.
As of the close of the day, the Shanghai Composite Index reported 3332 points, an increase of 5.71%, with a turnover of 724.2 billion yuan (RMB, the same below); the Shenzhen Stock Exchange Index reached 12941 points, an increase of 4.09%, with a turnover of 841.9 billion yuan; the small and medium-sized board index reported 8632 points, a rise 4.15%; GEM index reported 2,529 points, up 2.72%.
Gui Haoming, chief market expert of Shenwan Hongyuan Securities Research Institute, said that the recent continuous rise in A shares has mainly benefited from three factors: first, the market continued to consolidate below 3,000 points in the early stage, and the transaction was gradually enlarged, saving the upward momentum; second, the Bank of China recently Downgrade re-loans and rediscount interest rates to further improve market liquidity. Third, overseas funds continue to flow into A-shares through the Shanghai-Shenzhen-Hong Kong Stock Connect channel, buying low-value heavyweight stocks, driving the market to be more enthusiastic, and pushing stock indexes up.
In terms of specific sectors, the vast majority of A-share sectors rose on the day. Among them, the brokerage sector led the rise of A shares, rose 9.65%, individual stocks set a daily limit.
China Merchants Securities believes that the start of the current round of brokerage stocks market benefited from frequent landing of policies and continuous stimulation of news, which opened up the imagination of the securities industry. In addition, brokerage stocks showed a stagflation characteristic in the first half of the year, with strong momentum to compensate for the rise. (Finish)