China News Agency, Beijing, June 15 (Reporter Chen Kangliang) China's A shares continued their gains on the 15th (Wednesday), and all major stock indexes rose.
Among them, the representative Shanghai Composite Index successfully broke through the 3,300-point mark.
As of the close of the day, the Shanghai Composite Index reported 3,305 points, an increase of 0.5%, with a turnover of 622 billion yuan (RMB, the same below); the Shenzhen Component Index reported 12,137 points, an increase of 0.95%, and a turnover of 677 billion yuan; the ChiNext Index reported 2,575 points, an increase of 677 billion yuan. 1.05%.
Li Daxiao, chief economist of Yingda Securities, said that the reason for the strength of A-shares that day was mainly due to the gradual increase of positive factors in the market: first, the US stock market trended steadily overnight, and did not fall sharply, which did not act as a drag on A-shares; second, the domestic new crown The pneumonia epidemic has gradually eased, the resumption of work and production is proceeding in an orderly manner, the implementation of various measures to stabilize growth has accelerated, and China's economic recovery has a good momentum; third, some investors expect that the United States may reduce or exempt tariffs on China to ease high domestic inflation in the United States.
These positive factors have boosted market confidence. In addition, the A-share market has a valuation advantage, and securities companies and other low-valued sectors have driven the stock index to rise.
In terms of specific sectors, the vast majority of A-share sectors rose that day.
Among them, the brokerage sector rose by more than 3%, ranking among the top gainers.
In terms of individual stocks, Everbright Securities has gained 5 daily limits (up 10%) in the last 6 trading days.
Luo Zhanhui, an analyst at Western Securities, said that the recent favorable policies for the securities business sector have been frequent, and positive factors have accumulated rapidly, so he is optimistic about the allocation value of the securities business sector.
First of all, the financial data released by the government recently exceeded market expectations, and the effect of the transmission of loose money to loose credit has appeared.
Experience shows that in an environment with relatively loose liquidity, the brokerage sector will have obvious excess returns.
Secondly, the implementation of policies such as the market maker system on the Sci-Tech Innovation Board is expected to usher in development opportunities for investment banking, institutional trading, and securities firm asset management.
Once again, the valuation of the brokerage industry is still at a historical low, with a high margin of safety.
BOC Securities believes that this year, the accelerated implementation of the A-share full registration system, the relaxation of public fund licenses, and the entry of institutional funds into the market from multiple sources will help promote the continuous transformation of brokerage wealth management and institutional business.
The valuation of brokerages is at the bottom of the past 10 years, and the brokerage sector is expected to return to the rising market from the bottom of the valuation in the future.
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