Main recommendations
Liu He was invited to the United States to hold a new round of high-level Sino-US economic and trade consultations.
Ministry of Industry and Information Technology: It will continue to promote the development of industrial semiconductor materials, chips, devices and IGBT modules.
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Market review
Market comment: A shares began to differentiate in June 10, and grasped the main line of performance in operation, paying attention to the layout of "new blue chips".
Macro perspective: In September, the PMI of Caixin China's service industry dropped to 5 1.3, a seven-month low.
Pig industry: pork prices are running at a high level, and the short-term correction of stock prices ushered in allocation opportunities.
Futures information
Metal energy: gold 345.20, down 0.19%; Copper 468 10, down 0.68%; Rebar 337 1, down 2.18%; Rubber 1 1455, down 0.43%; The PVC index was 6390, down 0.31%; Zheng Chun 2385, up 0.80%; Shanghai Aluminum 13975, up 0.14%; Shanghai Nickel 136850, down 0.04%; Iron ore was 643.0, up 0.94%; Coke 1873.5, down 0.21%; Coking coal 1253.5, up1.29%; Brent oil was 57.07, down 0.52%;
Agricultural products: soybean oil 5954, up 0.92%; Corn was 1844, up 0.16%; Palm oil 4784, up 0.72%; Zheng Mian 12255, up by 0.78%; Zhengmai 2356, down 0.17%; White sugar 5539, up 0.86%; Apple 7786, up 5.20%; Jujube 10355, up1.22%;
Exchange rate: EUR/USD 1. 10, down 0.14%; USD/RMB 7. 14, down 0.07%; USD/HK$ 7.84, up 0.02%.
Second, the key recommendation
1, Liu He was invited to the United States to hold a new round of high-level Sino-US economic and trade consultations.
Event: At the invitation of the US, Member the Political Bureau of the Communist Party of China (CPC) Central Committee, Vice Premier the State Council and Chinese leader of the China-US Comprehensive Economic Dialogue Liu He will lead a delegation to visit Washington from 10 to 10 to hold a new round of high-level Sino-US economic and trade consultations with US Trade Representative Wright Heze and Finance Minister Mnuchin.
Comments: A new round of trade negotiations between China and the United States has started again. After several twists and turns, the differences between the two sides have not been effectively eliminated. Under the background of tariff friction, the global economy shows signs of gradual cooling, which will also have a certain impact on China's economic situation. However, China has a rich policy toolbox, and its current economic growth rate is still in the forefront of the world, and its valuation is also at a historical low. In addition, the market's adaptability to trade frictions has improved significantly, and it is cautiously optimistic about the market outlook.
(investment consultant Zhong Yanling registered investment consultant certificate number: S02606 13020024)
2. Ministry of Industry and Information Technology: It will continue to promote the development of industrial semiconductor materials, chips, devices and IGBT modules.
Event: The Ministry of Industry and Information Technology replied to the CPPCC proposal, saying that in the next step, our Ministry will continue to promote the development of industrial semiconductor materials, chips, devices and IGBT modules with relevant departments, and adjust and improve the implementation rules of policies according to the industrial development situation to better support industrial development. Strengthen industrial chain cooperation through industry associations, further promote Industry-University-Research cooperation, and promote the technical iteration and application promotion of China's industrial semiconductor materials, chips, devices and IGBT module industries. We will continue to support the development of mature technologies in the field of industrial semiconductors in China, and promote the improvement of yield and output in the field of chip manufacturing in China. Actively deploy new materials and new generation product technology research and development to promote the development of China's industrial semiconductor materials, chips, devices and IGBT components industry.
Comments: The integrated circuit industry represented by chips and semiconductor materials is a strategic industry in China. At present, related products of integrated circuits have become China's largest imported goods, and related fields are also the most "stuck" areas in China. Under the background of Sino-US trade friction, the strategic significance of realizing "self-control" is even more significant. With the support of policies, the integrated circuit industry is expected to maintain a high growth, and related companies are worthy of attention.
(investment consultant Zhong Yanling registered investment consultant certificate number: S02606 13020024)
Third, the market review
Market comment: A shares began to differentiate in June 10, and grasped the main line of performance in operation, paying attention to the layout of "new blue chips".
On the first day after the holiday, the market opened slightly higher, and then it oscillated higher driven by heavyweights such as banks. At one time, the Shanghai Stock Exchange 50 rose more than 1.2%, and the diving of high-tech stocks in the afternoon narrowed the gains of the broader market. At the close, the three major stock indexes were mixed, and the Shanghai Composite Index reported 29 13.57 points, up 0.29%. The Shenzhen Component Index reported 9474.75 points, up 0.30%; Chuangzhi Bao 16 16.58 points, down 0.67%. On the disk, agriculture, forestry, animal husbandry and fishery led the gains, and a few sectors such as electronics, media and national defense and military industry pulled back. There are 48 daily limit in the two cities, with a daily limit of 19. The net inflow of Shanghai Stock Connect was 353 million yuan, the net inflow of Shenzhen Stock Connect was139100000 yuan, and the total net inflow of northbound funds was 1744 million yuan. The market as a whole showed shock and differentiation, and the trend of heavyweights was improving. Judging from historical data, the market showed a high probability of recovery one week after the National Day. It is true that overseas uncertainty risks still exist, but A shares are expected to gradually stabilize in the shock. 10 is the intensive disclosure period of the third quarterly report. Therefore, we can follow the main line of excellent performance and pay attention to the sectors with better performance expectations in the third quarterly report. It is suggested that we should pay attention to the "new blue chips" represented by technological blue chips, national strategic blue chips and innovative consumption blue chips in the medium and long term. The stock market is risky, so you need to be cautious in investing.
(investment consultant? Where's Gu? Registered Investment Consultant CertificateNo.: S026066 1 1020066)
Macro perspective: In September, the PMI of Caixin China's service industry dropped to 5 1.3, a seven-month low.
Event: Caixin China General Service Business Activity Index (PMI) 10 released on June 8th recorded 5 1.3, which was 0.8 percentage point lower than that in July, and was a seven-month low.
Comments: In September, the new export index of service industry declined slightly within the expansion range, indicating that the increase in new orders of service industry mainly came from domestic demand. The new export order index of manufacturing industry has been in the contraction range for four consecutive months. The index of new export orders of the two major industries both fell, which dragged down the total export orders of Comprehensive Caixin in September, but the decline was small. The overall performance of economic data was poor, and the market had expected to digest it in advance. In addition, the policy continues to increase counter-cyclical regulation to stimulate the economy, and the overall negative impact of this news is expected to be limited.
(investment consultant? Where's Gu? Registered Investment Consultant CertificateNo.: S026066 1 1020066)
Pig industry: pork prices are running at a high level, and the short-term correction of stock prices ushered in allocation opportunities.
Since September, even under the pressure of the policy, the price of pigs has risen steadily. Wind data shows that the national average price of live pigs this week is 27. 15 yuan/kg, which continues to show a slight upward trend. Despite the recent intensive introduction of policies to deal with the rise in pork prices, the core problem affecting the shortage of pork supply will continue because it is difficult to market African swine fever vaccine quickly in the short term, so it is more likely that pork prices will remain high. Affected by a number of price stabilization measures in the early stage, the stock prices of related companies showed a deep correction. However, in the context of strong pork prices, the profits of pig breeding enterprises are expected to maintain rapid growth, and the allocation value is highlighted after the short-term stock price correction. It is suggested to pay attention to the breeding faucet.
(Investment Consultant Gu registered investment consultant certificate number: S026066 1 1020066)