China's A shares fell on Friday, the Shanghai stock index fell more than 3%
China News Service, Beijing, July 24th (Reporter Chen Kangliang) On the 24th, China's A-shares "cold" and the four major stock indexes all fell. Among them, the Shanghai Composite Index fell more than 3%, falling below the 3200-point mark.
As of the end of the day, the Shanghai Stock Exchange Index reported 3196 points, a decrease of 3.86%, with a turnover of 584.3 billion yuan (RMB, the same below); the Shenzhen Component Index reported 12935 points, a decrease of 5.31%, with a turnover of 750.6 billion yuan; the small and medium board index reported 8555 points, a decline 5.7%; ChiNext Index reported 2627 points, down 6.14%.
Gui Haoming, chief market expert of Shenwan Hongyuan Securities Research Institute, said that the main reasons for the sharp drop in A-shares that day included: international geopolitical conflicts, intensified competition among major powers, the overnight U.S. stock market decline, the A-share science and technology innovation board lifted the ban and the early market adjustments. Fully wait, these factors have reduced the risk appetite of investors, leaving the market to hedge.
In terms of specific sectors, most of the A-share industry sectors fell that day. Among them, the tourism, semiconductor and other sectors led the decline in A shares, down 8.7% and 6.8% respectively.
Regarding the future trend of A shares, Gui Haoming believes that the future trend of A shares mainly depends on the evolution of non-economic factors such as geopolitics. However, in general, China’s economy is currently recovering in an orderly manner, coupled with the valuation of A shares, especially blue chip stocks. The valuation is relatively low, and the possibility of further decline in A shares is expected to be small.
Liu Su, deputy research director of the stock investment department of Invesco Great Wall Fund, said that he remains optimistic about the stock market in the future. On the one hand, Chinese companies have gradually recovered from the impact of the epidemic, and corporate profits have improved; on the other hand, the liquidity environment of China's financial market is still relatively friendly, which has a great support for market valuation. (Finish)