Sino-Singapore Jingwei Client, September 7th, on the 7th, the two cities opened slightly lower, rose rapidly after the opening, and then weakened again.

In the afternoon, the decline of the three major indexes widened, the ChiNext Index fell more than 3%, and the Shanghai Index fell below 3,300 points.

Gold stocks plunged in the afternoon and the food and beverage sector weakened. In general, the turnover of the ChiNext index hit a record high, and the turnover of the Shanghai and Shenzhen stock markets exceeded one trillion yuan. The stocks of the two stocks fell more and rose less, and the individual stocks were clearly separated.

　　Source: Wind screenshot

　　As of the close, the Shanghai Index reported 3292.59 points, a decrease of 1.87%, with a turnover of 357.726 billion yuan; the Shenzhen Component Index reported 13284.03 points, a decrease of 2.73%, with a turnover of 663.7991 billion yuan; the GEM index reported 2641.20 points, a decrease of 3.33%; the Shanghai 50 Index reported 3253.43 points, a decrease of 1.69%.

　　On the board, sectors such as garden engineering, agricultural integration, scenic spots, air transportation, and marketing communications led the gains; feed, animal health, medical services, livestock and poultry breeding, and food processing sectors led the decline.

In terms of concept stocks, yesterday's daily limit, capital leader, titanium dioxide, GEM restructuring, and BDI index were the top gainers. Chicken farming, ASEAN free trade area, rural e-commerce, food and beverage, pork and other sectors were the top decliners.

　　In terms of individual stocks, 1,007 stocks rose, among which 142 stocks such as Jebsen, Jingjin Environmental Protection and Tianji, rose more than 5%.

2860 stocks fell, of which 150 stocks such as Jereh, Guanhao Bio, Yongchuang Intelligent, etc. fell more than 5%.

　　Tianshan Biotechnology blocked the daily limit and harvested 10 daily limit in 11 trading days, which was a cumulative increase of nearly 4 times.

　　In terms of turnover rate, a total of 74 stocks had a turnover rate of more than 20%, of which C Canaan had the highest turnover rate, reaching 59.95%.

　　In terms of capital flow, the top five industries that mainly flowed into the top five were optical optoelectronics, securities companies, real estate development, bank II, and marketing communications, and the top five outflows were securities firms, optical optoelectronics, real estate development, bank II, and electronics manufacturing.

The top five stocks with major inflows are BOE A, TCL Technology, Ingenic Group, San'an Optoelectronics, Vanke A, and the top five stocks outflowing are BOE A, TCL Technology, Ingenic Group, CITIC Securities, San'an Optoelectronics .

　　As of the last trading day, the Shanghai Stock Exchange’s financing balance was reported at 738.886 billion yuan, a decrease of 1.772 billion from the previous trading day. The securities lending balance was reported at 46.915 billion yuan, an increase of 49 million yuan from the previous trading day; the Shenzhen Stock Exchange’s financing balance was reported at 694.414 billion yuan. , A decrease of 1.084 billion yuan from the previous trading day, and the securities lending balance reported 26.252 billion yuan, a decrease of 438 million yuan from the previous trading day.

The balance of margin financing and securities lending in the two cities totaled 1,506.467 billion yuan, a decrease of 3.245 billion yuan from the previous trading day.

　　From the perspective of the north-south capital flow of Shanghai-Shenzhen-Hong Kong Stock Connect, as of press time, the net outflow of northbound capital is 3.566 billion yuan, of which the net outflow of Shanghai Stock Connect is 1.263 billion yuan, the balance of funds on the day is 53.263 billion yuan, and the net outflow of Shenzhen Stock Connect is 2.303 billion yuan. The balance was 54.303 billion yuan; the net inflow of southbound funds was 5.081 billion yuan, of which the Shanghai-Hong Kong Stock Connect net inflow was 1.337 billion yuan, the day's fund balance was 40.663 billion yuan, the Shenzhen-Hong Kong Stock Connect net inflow was 3.744 billion yuan, and the day's fund balance was 38.256 billion yuan.

　　Minsheng Securities analysis believes that under the current macro situation, liquidity environment and the background that the epidemic prevention and control cannot be relaxed, the short-term market may be somewhat turbulent. The current possibility of a sharp drop is unlikely, but the conditions for a sharp rise are still not met. Therefore, the market is still dominated by shocks and rebounds, and the structural market is still obvious.

The valuation of the cyclical sector may rebound. We are optimistic about chemicals, shipping, real estate, new energy vehicles, etc., and pay attention to the buying opportunities ushered in after the adjustment of leading high-quality consumer stocks.

　　Guosen Securities pointed out that from the domestic high-frequency data, the PPI year-on-year data has been repaired for two consecutive months in the second half of the year. It is expected that the PPI will continue to rise with the steady recovery of the economy.

Historical experience has shown that in the previous upward process of inflation (nominal growth rate), the upstream resource varieties benefited from inflation, and upstream raw material industries such as chemical and non-ferrous metals are likely to have excess returns.

In the process of PPI recovery, there is a possibility that the procyclical sector with low valuations will basically face upward and exceed expectations. This may promote the continued convergence of valuation differences. In the short term, we can focus on some low-valued varieties with better fundamentals.

　　Industrial Securities mentioned that the U.S. stock market fluctuates sharply, and external disturbances increase, which will affect the sentiment of A-shares in stages, which has become a major factor in the downward market.

The internal economy continues to recover, the main line of economic recovery is still a more certain direction, and the restoration of fundamentals has become an upward force in the market.

The two factors are intertwined. The market has rapidly risen unilaterally from the early stage and entered the stage of sideways consolidation. The "growth singing" that performed well in the early stage will take a break, and the "blue chips" will enter the performance time.

In the medium and long term, the era of equity, since the beginning of 2019, has not changed the “long bull” trend of rising indices.

(Zhongxin Jingwei APP)

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