Chinanews Client Beijing, August 17th (Reporter Xie Yiguan) On August 17, the three major A-share stock indexes fell in shocks, and the Shanghai Stock Exchange Index and the ChiNext Index fell below 3,500 points and 3,300 points respectively.
As of the close, the Shanghai Composite Index fell 2% to 3,46.98 points; the Shenzhen Component Index fell 2.33% to 14,350.65 points; the ChiNext Index fell 2.34% to 3,22.15 points, the K-line five consecutive Yin.
Shanghai index daily chart.
On the 17th, northbound funds bought a net 1.474 billion yuan against the trend throughout the day, including a net purchase of 590 million yuan for the Shanghai Stock Connect and a net purchase of 884 million yuan for the Shenzhen Stock Connect.
Market trading continued to be active, with the full-day turnover of the two cities exceeding 1.3 trillion yuan, surpassing one trillion yuan for 20 consecutive trading days.
On the disk, a total of 638 stocks in the two cities rose, 44 stocks rose by the limit; 3800 stocks fell, and 28 stocks fell by the limit. The market's profitability effect was poor.
The industry sector is almost full of Mexico. The tourism, winemaking, semiconductor, medical and health care, mineral products and other sectors have fallen ahead. Only the transportation services, hotel and catering, shipping, and construction sectors closed up against the trend.
The market style has changed. The previously popular new energy and chip sectors have suffered a callback. The financial, real estate, and brokerage sectors have been restless, and many related stocks have risen.
“The A-share market was in a period of turbulence and turbulence in August. Track stocks with excessively large gains, high expectations, and overcrowded transactions have made up their losses as scheduled, and the low-value and low-growth traditional industry sectors such as financial and real estate have made up or repaired.” Securities stated that, based on the judgment of medium-term fundamentals, systematic style switching is difficult to occur, and the growth of science and technology innovation is in the ascendant.
"In the short term, there has been a phased rebalancing of market styles." Essence Securities also believes that institutions' increase in new energy, semiconductors and other popular tracks is basically in place. The low expectations of social financing and the rebound in U.S. bond interest rates will affect the high valuation sector. Form marginal constraints.
On the other hand, some industries have experienced large declines in the early stage, and there is also a rebound in demand.
In the medium and long term, the most important factor in whether the main line is switched or not is the comparison of economic trends.
In the view of CITIC Securities, the current A-share market is still in the process of balancing between styles and sectors, and has entered a policy observation period. The focus of the market will gradually shift from growth to value, and growth will shift from a high track to a low track. Conversion.
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