1. Market Overview
On March 15, the three major A-share indexes weakened throughout the day and closed down collectively. As of the close, the Shanghai Composite Index fell 0.96% to 3,419.95 points, and the Shenzhen Component Index fell 2.71% to 13,520.07 points. The ChiNext Index fell 4.09% to 2644.01 points; the Shanghai and Shenzhen Stock Exchanges had a total turnover of 807.005 billion yuan; northbound funds bought a net 3.687 billion yuan today; overall, stocks in the two cities fell more than they rose. In terms of Hong Kong stocks, the Hang Seng Index rose 0.33% to 28,833 points, the China National Index fell 0.26% to 11,144 points, and the Hang Seng Technology Index closed sharply down 2.27% to 8,264 points. In terms of Asia-Pacific stock markets, the Nikkei 225 index closed up 0.2% at 29766.97 points; South Korea's KOSPI index closed down 8.68 points, or 0.28%, at 3045.71 points; Australia's S&P/ASX200 index closed up 6.20 points, or 0.09%, at 6773.00 points.
2. Industry Overview
The hotel and catering sectors led the gains, with Dadonghai A and Huatian Hotel rising by the limit; the attractions and tourism sectors were the top gainers, Tempus International and Western Region Tourism both rose by more than 19%; the airport shipping sector was strong, with China Southern Airlines and China Eastern Airlines leading the gains; public transportation, steel, port shipping and other sectors were active; the super brand sector was the top loser, with Luzhou Laojiao, COGong Education, and Wuliangye all falling by more than 5%; semiconductors and components, beverage manufacturing, securities and other sectors fell.
Among the 28 first-level industries to which Shenwan belongs, only five industry sectors including banking, transportation, leisure services, commercial trade, and steel showed net inflows of main funds, with net inflow amounts of 2.255 billion yuan, 342 million yuan, 111 million yuan, 104 million yuan, and 93 million yuan respectively. 23 industry sectors showed net outflows of main funds. Among them, the electrical equipment industry sector had the largest net outflow of main funds, with a net outflow amount of 7.246 billion yuan. The leading net outflows of main funds in the industry sectors were electronics, medicine and biology, food and beverages, public utilities, and non-bank finance, with net outflow amounts of 6.194 billion yuan, 5.124 billion yuan, 3.955 billion yuan, 3.934 billion yuan, 3.57 billion yuan,
3. Watch the trend of individual stocks
As of the close, a total of 1,906 stocks in the Shanghai and Shenzhen stock markets rose, 2,144 stocks fell, 137 stocks were flat, and 26 stocks were suspended. Including ST stocks, a total of 67 stocks reached their daily limit and 12 stocks reached their daily limit.
4. Northbound Fund Trends
The transaction volume of northbound funds today was 114.012 billion yuan, with a net purchase of 3.687 billion yuan, a net purchase for 5 consecutive trading days. Among them, the net purchase of Shanghai Stock Connect was 1.392 billion yuan, and the net purchase of Shenzhen Stock Connect was 2.295 billion yuan.
In terms of active stocks, Tongwei Co., Ltd., Luxshare Precision, Oriental Fortune, BYD, and China Duty Free Network had more net purchases from northbound funds, with net purchase amounts of 483 million yuan, 337 million yuan, 298 million yuan, 288 million yuan, and 250 million respectively. 200 million yuan; Kweichow Moutai, CATL, Shanxi Fenjiu, Ping An, and WuXi AppTec had more net sales of northbound funds, with net sales amounts of 957 million yuan, 668 million yuan, 279 million yuan, 270 million yuan, and 180 million yuan respectively.
5. Brief description of Dragon and Tiger List
After-hours data from the Dragon and Tiger List showed that the total net sales of institutional seat funds was approximately 1.033 billion yuan. Among them, 10 stocks were net bought and 17 stocks were net sold. The stock with the largest net purchases by institutions is Mengcao Ecology, with a net purchase amount of approximately 55.9281 million yuan; stocks with larger net purchases by institutions include Shunbo Alloy, Guanzhong Ecology, Jiaozuo Wanfang and other stocks. The stock with the largest net sales by institutions was Longi Holdings, with a net sales amount of approximately 550 million yuan.
6. Summary of important news
China's industrial added value increased by 35.1% year-on-year from January to February; total retail sales of consumer goods increased by 33.8% year-on-year from January to February; urban fixed asset investment increased by 35% year-on-year from January to February
National Bureau of Statistics: National real estate development investment increased by 38.3% year-on-year from January to February
Bureau of Statistics: In February, the sales price of commercial residential buildings in various tiers of cities increased and decreased month-on-month, and the year-on-year increase increased compared with the previous month.
The trend of domestic commodity futures was divided, with PVC rising by more than 4%, soda ash, urea, and glass rising by more than 2%, ferrosilicon, eggs falling by more than 4%, and iron ore, coke, and coking coal falling by more than 3%.
Large-scale sand and dust has occurred in 12 northern provinces and cities, which is the strongest ever experienced in my country in the past ten years
Hong Kong Monetary Authority: Three cross-border financial measures in the Guangdong-Hong Kong-Macao Greater Bay Area will be implemented within the year
Fund issuance suddenly cooled: Since March, as many as 20 new funds have extended their fundraising deadlines by up to 2.5 months.
IPO counseling and acceptance is tightened, and the counseling period tends to be extended
Apple's iPhone production plan for the first half of the year has been adjusted to about 75 million units, which is about 20% lower than the estimate in December 2020, with the biggest impact being on the iPhone 12 mini.
Ming-Chi Kuo: Cut AirPods shipments this year by 30-35%
Civil Aviation Administration: The civil aviation industry strives to restore the total transportation scale throughout the year to more than 80% before the epidemic
Bitcoin approaches $58,000, down nearly 5% in 24 hours
Central Financial and Economic Commission: Deepen the reform of the power system and build a new power system with new energy as the main body
Central Financial and Economic Commission: Grasp the development laws of platform economy, oppose monopoly and prevent disorderly expansion of capital
Central Financial and Economic Commission: Promote the standardized, healthy and sustainable development of the platform economy and incorporate carbon peak and carbon neutrality into the overall layout of ecological civilization construction
Hong Kong Monetary Authority: We are cooperating with the mainland to test digital renminbi
Ministry of Culture and Tourism: Unified restrictions on the number of people allowed in performances, Internet services, and entertainment venues in low-risk areas will be lifted
The GEM index is negative at 100 points, and 10 index stocks contributed 86 points
7. Key company dynamics
Yingke Medical Annual Report: Net profit in 2020 increased by 3830% year-on-year, and it is planned to transfer 5 to 30 yuan for every 10 shares
*ST Chengcheng: The company’s shares are terminated from listing
Rendong Holdings: The controlling shareholder and persons acting in concert may continue to reduce their holdings and review the stock resumption.
Hainan High Court: Ruling to substantively merge and reorganize 321 companies including HNA Group
Evergrande Automobile: Teams up with Tencent to develop in-vehicle intelligent system
Questioned by a big V, Muyuan shares fell to the limit. The company responded: There is no public reply to the question and related transactions are normal transactions.
Sinolink Securities denies acquisition rumors, stock price hits daily limit
Baidu AI chip unit Kunlun completed a new round of financing, led by CPE, with a valuation of US$2 billion
Baidu Hong Kong IPO: Currently, the margin is tentatively recorded at HK$35.66 billion, oversubscribed 24.4 times
Jiangshan Co., Ltd.: The company is a key unit of the national carbon market quota management
8. Institutional Dissolution
Rongwei Securities pointed out that technically, the Shanghai Stock Index completed a round of retracement, falling below the half-year line and then stabilizing and rebounding at the 3330 line. The short- and medium-term moving averages are currently arranged in a short position, and the long-term moving averages are flat. The 30-day moving average has obviously suppressed the stock index. In the later period, it is necessary to trade time for space and rely on the half-year line to fluctuate sideways to repair the short pattern of the moving average system. Recently, the market has shown continuous adjustments with white horses and technology themes, while low-valued blue chips have rebounded from oversold conditions. Funding preferences have obviously changed. The overall market valuation has achieved the purpose of "squeezing the bubble" through adjustments that have gone up and down, laying a good foundation for the next round of market conditions. It is comprehensively judged that the market is mainly about releasing risks in the short term. It is recommended to avoid high-valued products and allocate low-valued blue chips on dips.
Yuanda pointed out that the market has adjusted today. Judging from the intensity of the adjustment, the adjustment is not over yet. Therefore, the response strategy is relatively simple. If the position is low or even short, continue to watch more and move less, and wait patiently for the bottom to be discovered. At least for now, it does not have the conditions to buy the bottom or add positions. This market cannot be done every day. You must choose the opportunity, fish on sunny days, and shelter on rainy days. The top hunters are not only good at hunting, but more importantly, they know how to wait. The procyclical and carbon-neutral directions that have been optimistic recently continue to perform, but some differentiation has begun to occur. Therefore, it is recommended that varieties that have experienced a certain rise in the short term continue to reduce their positions and beware of the risk of short-term adjustments. The pro-cyclical and carbon-neutral overlay low directions can still be paid attention to.
Bai Ruiying pointed out that at present, the index is completely hijacked by institutional group stocks, so in the short term, we must continue to avoid the risk of early group groups and high-level strong stocks compensating for losses after the recent surge. In terms of volume, compared with the previous trading day, today's market is considered to be a heavy-volume decline. The recent market rebound has shrunk, but the decline has been a heavy-volume decline. From this performance, it can also be seen that the market's belief in going long is not strong. Although northbound funds continue to flow in, the trading sentiment on the market is really weak. Therefore, those who are cautious in operation will continue to focus on lurking and pay more attention to low-level momentum or oversold stocks.
9. Transaction reminder
Tomorrow's new stock subscription: Tengjing Technology, Construction Repair, Beitani
New shares listed tomorrow: Qingyun Technology
The winning numbers were announced in the evening: Ailon Technology, Yingli Shares, and Jiaheng Jahwa
Tomorrow, the ban on 7 stocks will be lifted, and the market value of Tianxiaxiu will be larger.
Today in capital market history
On March 15, 2013, the China Securities Regulatory Commission issued the "Regulations on the Management of Asset Securitization Business of Securities Companies", allowing securities companies that meet the qualifications for securities asset management business to apply for the establishment of special plans and the issuance of asset-backed securities.
Asset securitization (ABS) refers to the process of issuing asset-backed securities (ABS) based on the cash flow generated by the underlying assets in the future as repayment support, credit enhancement through structured design, and on this basis. It is a form of financing that issues tradable securities backed by a specific portfolio of assets or specific cash flows.
Keyword reading: A-share evening news
