Chinanews Client Beijing, September 7 (Reporter Xie Yiguan) "Once the stock market is on the hot search, it will either rise or fall." Some netizens summed it up like this. On the 7th, the "stock market" was again on the hot search.

　　On September 7, A-shares opened lower and moved lower, accelerating downward in late trading. The ChiNext Index fell more than 3% and fell below 2,700 points, while the Shanghai Stock Index fell below 3,300 points.

　　As of the close, the Shanghai Composite Index fell 1.87% to 3,292.59 points; the Shenzhen Component Index fell 2.73% to 13,284.03 points; the ChiNext Index fell 3.33% to 2,641.20 points.

A total of 2,860 stocks in the Shanghai and Shenzhen stock markets fell, 21 stocks fell by the limit; 1,007 stocks rose, and 54 stocks rose by the limit.

The Shanghai index daily chart.

　　However, the market's trading sentiment has picked up. Although the net outflow of northbound funds is 5.465 billion yuan, which has been a net outflow for 6 consecutive days, the trading volume of the two cities exceeded 1 trillion yuan on the 7th.

　　Since August 24, the GEM, which has implemented the registration system, has shown a strong ability to absorb current. The daily turnover of the GEM reached 354.78 billion yuan, a record high.

At the same time, the low-end stocks on the GEM have continued to be sought after by capital recently. As of the close of the market on the 7th, except for the "thousand retreats", there are no stocks on the GEM with stock prices below 4 yuan.

　　On the disk, the industry sectors are more green and less red. Agriculture, forestry, animal husbandry and fishery, food and beverage, daily chemical, aviation, healthcare, securities and other sectors have fallen in the front. Only the mineral products, transportation services, hotel and catering sectors closed up against the market; concept In terms of sectors, pork concept fell more than 5% and led the market.

　　"The stocks of mandatory consumer (represented by medicine and food), which have highlighted the stability of profitability in the early stage due to the epidemic, have been overdrawn, and their profitability advantage has also been weakened under the background of the controlled domestic epidemic." Dong Zhongyun, chief economist of AVIC Securities believes, The overall macro environment is still beneficial to equity assets, but the fastest rising stage this year has ended, and the logic of liquidity premium has gradually shifted to the logic of profit verification.

　　"Consumption and technology in the current market environment have been at historically high valuations, and the probability of continuing to hit new highs is low. It is expected that A shares will likely maintain a volatile pattern in the future, and it will be more difficult to break upward." Dong Zhongyun said.

　　"During the sprint of the U.S. election, external disturbance factors increased, and the phased impact on A-share sentiment became the main factor for the downward market. The main line of internal economic recovery is still a more certain direction, and the restoration of fundamentals has become an upward force for the market." According to Wang Delun, chief strategy analyst at Industrial Securities, the two factors are intertwined. The market has risen rapidly from the early stage and entered the sideways stage. The "growth singing" that performed well in the early stage will take a break, and the "blue chip" will enter the performance time. .

　　According to Bohai Securities, considering the high degree of uncertainty in the current external environment and the slowing down of the increase in internal liquidity, if A shares are not driven by new factors, the characteristics of the volatile market will continue in September. The market opportunities may mainly come from于structural. In terms of configuration, early-stage strong sectors such as technology, new energy, and military industry that cannot be falsified by Chang Logic can participate in the adjustment. At the same time, attention can also be paid to the recovery process of the media, tourism, and environmental protection sectors. (Finish)