The broader market bottomed out in early trading and ushered in a rebound, but the full-day turnover shrank to less than 900 billion yuan.

　　The three major A-share stock indexes collectively opened lower in early trading on January 24, but the ChiNext Index quickly turned red, and the Shanghai Index also rebounded and turned up.

In the afternoon, the Shanghai and Shenzhen stock markets fluctuated within a narrow range, and finally closed slightly in the red.

　　As of the close on January 24, the Shanghai Composite Index rose 0.04% to 3524.11 points; the Science and Technology 50 Index rose 1.34% to 1307.74 points; the Shenzhen Component Index rose 0.37% to 14081.8 points; the ChiNext Index rose 0.72% to 14081.8 points. 3056.43 points.

　　Wind statistics show that 1,792 companies in the two cities rose, 2,758 companies fell, and 139 companies were flat.

　　On January 24, the total turnover of the Shanghai and Shenzhen stock exchanges was 864.2 billion yuan, a sharp drop of 120.3 billion yuan from 984.5 billion yuan in the previous trading day.

Among them, the Shanghai market turnover was 358 billion yuan, a decrease of 59.8 billion yuan from the previous trading day's 417.8 billion yuan, and the Shenzhen market turnover was 506.2 billion yuan.

　　A total of 70 stocks in Shanghai and Shenzhen stock markets rose by more than 9%, and 65 stocks fell by more than 9%.

　　On January 24, the total net inflow of northbound funds was 3.453 billion yuan.

Among them, the net inflow of Shanghai Stock Connect was 2.114 billion yuan, and the net inflow of Shenzhen Stock Connect was 1.339 billion yuan.

Catering and tourism sector continues to rebound

　　In terms of sectors, the catering and tourism sector continued to rebound, with Zhongxin Tourism (002707), Qujiang Cultural Tourism (600706), etc. daily limit, Junting Hotel (301073), Caesar Tourism (000796), Huangshan Tourism (600054), etc. rose more than 3%.

　　The power equipment sector was the top gainer. Jinchen (603396), Aotexun (002227) and other daily limit, Jinlang Technology (300763), JA Technology (002459), Heshun Electric (300141), Jiangte Electric (002176), Follett (601865) and others rose more than 7%.

　　The pharmaceutical and biological sector, led by the detection of the new crown, fell the most, Tuoxin Pharmaceutical (301089), Haite Bio (300683), Shanghai Kaibao (300039), Qianhong Pharmaceutical (002550), Kaikai Industry (600272), etc. 10 stocks fell by the limit or more than 10%.

　　Media stocks performed poorly, with Jishi Media (601929), Perfect World (002624), Gravity Media (603598), etc. falling by the limit, while HuaMedia Holdings (000607), Zhejiang Wen Internet (600986), Dianhun Network (603258), etc. fell more than 5%.

After the Spring Festival is expected to open a wave of resonance market

　　Guosheng Securities believes that the signal released by the 5-year LPR reduction is more meaningful, the policy bottom has been clarified, and there is a high probability of substantial loosening in the future.

Before the real reversal of economic data, the easing intensity may be gradually enlarged, credit conditions have ushered in a real stabilization, and the M1-PPI scissors gap will be restored upward. Policy easing, credit stabilization and market expectations are expected to gradually return to a virtuous circle. History In the stage of rising credit and weak economy, big finance has the highest winning rate.

With the valuation of the growth track digested, it is expected to start a wave of resonance market after the Spring Festival.

　　Galaxy Securities believes that the macroeconomic downturn in the first quarter and the crowded trading on some tracks are important factors restricting the upward trend of the market, but the abundant market liquidity and the relatively loose currency-credit cycle support the market.

In terms of industries, new energy-related industries have recently released risks; some industries with poor performance in the early stage, such as big finance, have no sign of significant improvement in fundamentals, but their valuations are low and their defensiveness is strong. Balanced allocation is recommended: 1. Semiconductor, military industry Some highly prosperous sub-sectors such as green power, green electricity, and individual consumer goods can be configured for a long time.

2. Electronics, home appliances, building materials, computers and other sectors that performed well during the spring market.

3. Large finance, large infrastructure and other sectors that have the power to repair valuations and are both offensive and defensive, with balanced allocation.