Text/Wang Chuhan, All Media Reporter of Guangzhou Daily
On April 26, A shares continued the decline of the previous trading day, the three major indexes opened higher and moved lower, and the Shanghai index fell below 2900 points.
As of the close, the Shanghai Composite Index fell 1.44% to 2886.43 points.
The Shenzhen Component Index fell 1.66 percent to 10,206.64 points.
The ChiNext Index fell 0.85% to 2,150.51 points.
750 stocks in Shanghai and Shenzhen rose, while 3,965 stocks fell.
In terms of northbound funds, the net inflow of northbound funds exceeded 3.8 billion yuan throughout the day, of which the inflow of Shanghai Stock Connect exceeded 700 million yuan, and the inflow of Shenzhen Stock Connect exceeded 3.1 billion yuan.
It is worth noting that before the opening of the A-share market on April 26, the People's Bank of China issued a statement in response to the recent fluctuations in the financial market. The relevant person in charge of the People's Bank of China pointed out that some recent fluctuations in the financial market were concerned, mainly affected by investors' expectations and emotions.
At present, my country's economic fundamentals are sound, the potential for endogenous economic growth is huge, and substantial progress has been made in preventing and defusing financial risks.
Steady growth policy will provide support for A shares
Specifically, on April 26, the reporter noticed that many sectors such as new energy, cyclical stocks, military industry, and software fell significantly, and the brokerage sector fell by more than 4%.
At the same time, consumer stocks such as liquor, catering tourism, food and beverage rose against the trend, the liquor index rose 2.6% against the trend, the catering tourism index rose nearly 2%, the food index rose more than 1%, and the beverage index rose nearly 1%.
The continuous decline of A-shares led to a substantial pullback in the net value of related funds.
The reporter learned that, according to the analysis of fund institutions, the market turnover is gradually shrinking, the mood is close to freezing point, and the attitude of funds is more obvious. In the case of uncertain factors such as the Fed’s interest rate hike and the domestic epidemic situation, in the short term, investors will The sentiment of A shares will still be suppressed by these factors. In the absence of effective incremental funds to enter the market, the upward momentum of A shares will be insufficient and will continue to fluctuate to find the bottom.
Chen Guo, chief strategist of CITIC Construction Investment, believes that the 2900 point of the Shanghai index is the golden pit this year.
Considering that the domestic epidemic situation is gradually improving, the logic of China's economic growth is strengthening, and the US inflation data seems to be peaking, the improvement of the overall internal and external environment in the next quarter is a high probability event.
Investors should no longer be pessimistic and should gradually turn to optimism.
At the same time, Guotai Junan believes that there is a high probability that the index will maintain a volatile trend in the short term.
From the current point of view, the market is in the process of bottoming out in the short term after a deep adjustment.
In the medium and long term, the adjustment is relatively large, and the market has fully anticipated the economic pressure.
The current median valuation of A-shares is in the historical bottom range, and the probability of further sharp declines is low.
At present, the medium and long-term allocation value of index points is prominent.
Jufeng Investment Consultants believes that the factors that are currently suppressing investor sentiment are still geopolitics, dollar contraction, domestic epidemics and other factors, and the policy of stabilizing growth will provide support for A shares.
After the continuous decline, whether the market can stop falling still depends on when the track stocks such as wind power, photovoltaics, lithium batteries, and chips, which are the first to adjust, stop falling and rebound.
Those with light positions can pay attention to three main lines: 1. Companies whose quarterly reports have increased year-on-year and month-on-month;
Monetary Policy Highlights
●Introduced re-loans for technological innovation and special re-loans for inclusive pensions
●Increase 100 billion yuan in re-loans to support coal development and use and enhance energy storage
●Increase re-loans to support agriculture and small-scale businesses and special re-loans for civil aviation
PBOC responds to financial market volatility:
Will increase the re-lending facility to support the real economy
Guangzhou Daily News (all media reporter Lin Xiaoli) In response to the recent fluctuations in the financial market, the People's Bank of China commented on the morning of April 26 that it will increase the support of the prudent monetary policy to the real economy, among which re-lending is the mainstay. Structural monetary policy has become the main force, including the introduction of re-loans for technological innovation and special re-loans for inclusive pensions, an increase of 100 billion yuan in re-loans to support the development and use of coal and enhancement of energy storage, and increased re-loans to support agriculture and small businesses and special re-loans for civil aviation. loan.
The relevant person in charge of the People's Bank of China said that some recent fluctuations in the financial market were mainly affected by investors' expectations and sentiments.
At present, my country's economic fundamentals are sound, the potential for endogenous economic growth is huge, and substantial progress has been made in preventing and defusing financial risks.
Next, the People's Bank of China will increase support for the real economy with a prudent monetary policy, especially to support industries severely affected by the epidemic, small and medium-sized enterprises, and individual industrial and commercial households, support agricultural production and energy supply and increase supply, and launch technological innovation and re-lending. We will increase the 100 billion yuan re-loan to support the development and use of coal and enhance energy storage, and increase the re-loan for agriculture, small and medium-sized enterprises, and the special re-loan for civil aviation, so as to maintain a reasonable and sufficient liquidity.
The reporter noticed that since 2020, the central bank's re-lending tools have been continuously enriched. Since this year alone, new technological innovation re-lending and inclusive pension special re-lending have been established.