Central Economic Work Conference Held in Beijing
The State Council promulgated the Interim Measures for Special Additional Deduction of Individual Income Tax, which will take effect on 20 19 1.
Market review
Market comment: The global market is facing a black week, so it is recommended to be cautious before the market trend is reversed.
Macro: Guangzhou Municipal Science and Technology Commission gives policy support to the science and technology innovation board and the science and technology innovation enterprises of Hong Kong Stock Exchange.
Crude oil: NYMEX crude oil futures closed down 1% to $45.42/barrel, the lowest since July 20 17.
Futures information
Metal energy: gold 284.4, down 0.00%; Copper 482 10, down 0.29%; Rebar 3450, down1.51%; Rubber 1 1300, down 0.53%; The PVC index 6460 fell by 0.08%; Zheng Chun 2448, down 0.81%; Shanghai aluminum 13725, up 0.11%; Shanghai nickel 90070, down 0.06%; Iron ore was 487.5, down1.71%; Coke 1983.5, down 0.18%; Coking coal 1 196.5, down 0.13%; Crude oil 387, down1.68%;
Agricultural products: soybean oil 5430, down 0.18%; Corn 1869, down 0.32%; Palm oil 4574, down 0.61%; Cotton 15090, down 0.89%; Zheng Mai 2465, down1.68%; Sugar 4860, down1.22%; Apple11115, up by 0.94%;
Exchange rate: Euro/USD 1. 1360, down 0.92%; USD/RMB 6.9 192, up by 0.39%; USD/HK$ 7.8328, up 0.04%.
New stock tips
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Main recommendations
1. The Central Economic Work Conference was held in Beijing.
The Central Economic Work Conference was held in Beijing from February 19 to February 2 1. The meeting decided to do the following key tasks next year: First, promote the high-quality development of manufacturing industry; The second is to promote the formation of a strong domestic market; Third, solidly promote the rural revitalization strategy; The fourth is to promote regional coordinated development; The fifth is to speed up the reform of the economic system; The sixth is to promote all-round opening up; Seventh, strengthen security and improve people's livelihood.
Comments: The meeting decided that the downward pressure on the economy will be greater next year, and the fiscal policy in 20 19 will be the main force to support the economy (larger tax reduction and fee reduction+larger local government special bonds). On the whole, the meeting did not introduce policies that exceeded expectations and had a neutral impact on the market.
(investment consultant? Jin Cai? Certificate number of registered investment consultant: S02606 1 1090020)
2. the State Council issued the Interim Measures for Special Additional Deduction of Individual Income Tax, which will take effect on 20 19 1.
The State Council recently issued the Interim Measures for Special Additional Deduction of Individual Income Tax, which will take effect on 20 19 1. The "Measures" pointed out that the special additional deduction of personal income tax refers to six special additional deductions such as children's education, continuing education, serious illness medical care, housing loan interest or housing rent, and supporting the elderly as stipulated in the personal income tax law. There are 9 chapters and 32 articles in the Measures, which clarify the principle of special additional deduction, the deduction scope, deduction standard, deduction method and safeguard measures of six special additional deductions.
Comments: According to the agency's calculation, the special additional deduction scheme for personal income tax will have an impact of 0.2-0.3% on the total retail sales of consumer goods in China, which is good for consumption.
(investment consultant? Jin Cai? Certificate number of registered investment consultant: S02606 1 1090020)
Market review
1, market comments: The global market is welcoming a black week, so it is recommended to be cautious before the market trend reverses.
On Friday, the two cities maintained a weak shock trend after opening slightly lower. The market is depressed, and there are very few stocks with daily limit. Games and sports sectors stimulated by news have performed, and sub-new shares have been active. At the close, the Shanghai Composite Index fell 0.79% to 25 16.25, the Shenzhen Component Index fell 1.20% to 7337.60, and the Growth Enterprise Market fell 0.6 1% to 1270.30. The relevant contents of the weekend Central Economic Conference have been released through the media. Among them, two points are closely related to the financial market. Here, I intercept the text and make a personal analysis for your reference. 1, the meeting pointed out that the macro-economy should strengthen countercyclical adjustment, continue to implement a proactive fiscal policy and a prudent monetary policy, implement a larger tax reduction and fee reduction, and substantially increase the scale of local special bonds; 2. The capital market plays an important role in financial operation, creating a standardized, transparent, open, dynamic and flexible capital market, and promoting the establishment of a scientific and technological innovation board and the pilot registration system in the Shanghai Stock Exchange as soon as possible.
U.S. stocks plunged on Friday night. After a short-term continuous plunge, liquidity risk began to be gradually exposed, which would affect the risk appetite of global stock markets, and A shares were not spared. 2 1, the central economic conference emphasized that "macro-policies should be strengthened against the cyclical adjustment" and fiscal policies should be "implemented with a larger scale of tax reduction", which will hedge against the weakness of market sentiment in the short term, but the market trend has turned bad, and short-term investors still need to remain cautious. In operation, defense is the main factor. Heavy position investors suggest rebounding and lightening positions in the day, while light position investors should watch more and move less, and wait for market risks to be further released before entering the market.
(The investment consultant has registered the investment consultant certificate number: S02606 130900 15)
2. Macro: Guangzhou Science and Technology Commission gives policy support to the science and technology innovation board and the science and technology innovation enterprises of Hong Kong Stock Exchange.
The Guangzhou Municipal Science and Technology Commission recently issued the Action Plan for Accelerating the Listing of Innovative Enterprises on Shanghai Stock Exchange, Science and Technology Innovation Board Stock Exchange and Hong Kong Stock Exchange (Draft for Comment), which clearly pointed out that scientific and technological innovative enterprises of Science and Technology Innovation Board and Hong Kong Stock Exchange should be given key support when applying for scientific and technological plan projects, building scientific and technological innovation platforms and applying for various inclusive fiscal and tax support policies.
Investment Comments: The launch of the Science and Technology Innovation Board is just around the corner, and many local governments have issued policies to support science and technology enterprises, which is in line with the national policy orientation. The Guangzhou Municipal Government has set a good example, and more cities will introduce support policies in the future. I believe that more and more high-quality technology enterprises will be cultivated in the future, and high-quality venture capital enterprises can also pay attention to it in the middle line.
(The investment consultant has registered the investment consultant certificate number: S02606 130900 15)
3. Crude oil: NYMEX crude oil futures closed down 1% to $45.42/barrel, the lowest since 2065438+July 2007.
NYMEX crude oil futures closed down 1% at $45.42/barrel, the lowest since July of 20 17, and fell1.75% this week, the biggest weekly decline since 20 14 years. The market is worried that oversupply and the global economic outlook will lead to sluggish oil demand.
Investment Comments: Crude oil prices fell sharply after 18+00. In addition to the rapid increase in output and oversupply, investors are more worried about the future economic situation. In addition, the short-term rapid decline of US stocks further affected investor confidence. It is expected that crude oil may continue to maintain a weak pattern in the future, and the petrochemical industry chain will be significantly affected in the short term, but the aviation, logistics and downstream chemical industry chains will benefit.
(The investment consultant has registered the investment consultant certificate number: S02606 130900 15)