[Explanation] On March 16, the Financial Stability and Development Committee of the State Council held a special meeting to study the current economic situation and capital market issues.
On March 17, A shares and Hong Kong stocks continued their strong market performance on March 16 and rose sharply again.
As of the close on March 17, the Shanghai Composite Index rose 1.40% to 3,215.04 points, the Shenzhen Component Index rose 2.41% to 12,289.97 points, and the ChiNext Index rose 2.87% to 2,710.73 points.
On the disk, the sectors such as household goods, hotel and catering, Internet, and healthcare were among the top gainers, and the real estate sector set a daily limit for individual stocks.
[Concurrent] Jiang Han, senior researcher of Pangu Think Tank
The entire market is doing very well today, especially the pharmaceutical sector.
On the one hand, yesterday's Financial Committee (meeting) and a number of policy factors made the entire market begin to restore confidence and improve market stability.
The sharp rise in Hong Kong stocks and Chinese concept stocks has also set off this trend of confidence from the outside. The stabilization of confidence is the biggest feature of everyone at present.
In addition, this morning, the Fed's rate hike is actually more like a "dovish" rate hike, and this dovish state has made the market more stable.
[Explanation] Financial commentator Bu Naxin pointed out that after the special meeting held by the Financial Stability and Development Committee of the State Council dispelled the risk factors that the market worried about in the early stage, the positive factors accumulated in the early stage at the macro and micro levels may gradually lead the market to rise.
However, there are still some non-market factors that may occur at present. Investors still need to remain patient and observe as much as possible, and it is better to deploy value growth sectors.
[Concurrent] Financial commentator Bu Naxin
Due to non-market factors such as geopolitics, the epidemic, and the game of major powers, the cards are not played according to the established rules, so it is expected that it will take some time to repair, and the market will gradually ease and usher in a phased repair window.
In the rebound, investors should try to remain patient and observe, instead of blindly guessing the bottom.
Experience tells us that high valuations are often accompanied by good market conditions, while in undervalued periods, ordinary investors should deploy value growth sectors.
Reporter Xu Yinkang Yuzhan reported from Shanghai
Responsible editor: [Bian Liqun]