China News Agency, Beijing, May 24 (Reporter Chen Kangliang) China's A shares suffered adjustments on the 24th, and all major stock indexes fell.
The representative Shanghai Composite Index fell more than 2%, falling below the 3,100-point mark.
As of the close of the day, the Shanghai Composite Index reported 3,070 points, a decrease of 2.41%, with a turnover of 438.6 billion yuan (RMB, the same below); the Shenzhen Component Index reported 11,065 points, a decrease of 3.34%, with a turnover of 551.8 billion yuan; the ChiNext Index reported 2,318 points, a decrease of 551.8 billion yuan. 3.82%.
Liu Bin, fund manager of Xinhua Fund, said that the current confidence of A-share investors still needs to be further boosted, especially some investors are worried about the impact of the new crown pneumonia epidemic on China's economy, and it is expected that the domestic epidemic may affect the operation of listed companies in the second quarter. big impact.
Qin Xu, an analyst at Guosheng Securities, said that although the A-share market performed strongly in the early stage, it was still in the category of oversold and rebound in nature.
As the market center of gravity continues to move upward, the pressure on the stock index to rise further will also increase.
The rebound from oversold to stabilization and reversal will not happen overnight. The establishment of the improvement of the domestic epidemic, the release of stimulus policies for related industries, and the further coordination and linkage of monetary and fiscal policies are important driving forces for the strong rebound after the market has consolidated its bottom. A certain period of time, so in the medium term, investors still need to wait patiently.
In terms of specific sectors, the vast majority of A-share sectors fell on the day.
The auto sector is relatively resilient, and individual stocks such as China Grand Auto, Haima Automobile, and Zhongtong Bus even bucked the trend and rose by their daily limit (up 10%).
Recently, the executive meeting of the State Council of China further deployed a package of measures to stabilize the economy, striving to push the economy back to a normal track to ensure that it operates within a reasonable range.
The meeting decided to implement 33 measures in 6 areas, including a phased reduction of 60 billion yuan in purchase tax for some passenger cars.
CITIC Securities believes that the purchase tax reduction is one of the most effective policies to drive car sales. The policy has exceeded market expectations and is good for the auto sector.
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