Chinanews client, Beijing, July 27th (Reporter Xie Yiguan) The weakness continued. On the 27th, the three major A-share stock indexes fell sharply in late trading. The Shanghai Index lost another 3400 points after falling below 3,500 points on the 26th.
The GEM index also fell below 3300 points.
As of the close, the Shanghai Composite Index fell 2.49% to 3381.18 points; the Shenzhen Component Index fell 3.67% to 14093.64 points; the ChiNext Index fell 4.11% to 3,322.84 points.
The performance of the three major A-share stock indexes.
On the 27th, market trading continued to be active, with the full-day turnover of the two cities exceeding 1.5 trillion yuan, which was higher than the previous trading day.
The net outflow of northbound funds was 4.172 billion yuan, of which the net outflow of Shanghai Stock Connect was 3.464 billion yuan, and the net outflow of Shenzhen Stock Connect was 708 million yuan.
On the last trading day, the net outflow of northbound funds was 12.802 billion yuan, and the single-day net sales reached a new high in nearly a year.
On the disk, a total of 1047 stocks in the two cities rose on the 27th, 39 stocks rose by the limit; 3350 stocks fell, and 75 stocks fell by the limit.
Sectors such as electrical equipment, building materials, wine, culture, education and leisure, and electrical instrumentation saw the largest declines. Only the communications equipment, IT equipment, petroleum, and semiconductor sectors bucked the market.
In terms of the concept sector, the lithium battery, phosphorus concept, Tesla, and rural revitalization sectors fell more than 5%.
Among them, the lithium battery sector set off a stop wave, and more than ten stocks such as Chuanneng Power, Tibet City Investment, and Jinbei Electric have stopped falling.
The brewing sector continued to collectively decline, Shuijingfang's limit fell, Wuliangye fell by more than 7%, and Kweichow Moutai fell by more than 5%, and the stock price has fallen to the 1,700 yuan mark.
Kweichow Moutai daily chart.
Guotai Junan Securities believes that the A-share adjustment is more of an event-induced structural adjustment than a systemic risk.
On the whole, the current fundamentals have not substantially deteriorated, and the micro-market transaction structure of some tracks has not reached the threshold. This adjustment is a panic disturbance.
“The overall market price-earnings ratio and the expected ROE (return on equity) relative position are similar to those of the epidemic last year. The valuation and point positions are in a reasonable position. Investors don’t need to panic. Some subjects have been killed by mistake.” Shanxi Securities analyst Ma Wen Yu pointed out that in the medium term, the technology industry continues to maintain a high growth rate, and the overall fundamentals of A-shares are strongly supported.
In the view of Bohai Securities, the current price-book ratio is near the historical average, there is no obvious bubble, and the monetary policy at this stage is relatively stable, there is no unilateral tightening expectation, and the systemic downward risk is not large.
Considering that the performance of listed companies in the third quarter still has a certain degree of resilience, maintaining the judgment of the volatile market, structural opportunities in the market still exist.
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