China Banking Regulatory Commission: It is strictly forbidden for banks and insurance institutions to illegally participate in over-the-counter fund-raising and strictly investigate excessive leverage and speculation.

The national level III emergency response to flood control was upgraded to level II.

Market review

Market comments: shrinkage adjustment, mainly short-term shocks.

Printed circuit board industry: head communication PCB manufacturers grow together with 5G process

New stock tips

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Futures information

Metal energy: gold 402.2, down 0.20%; Copper 5 1760, up 2.70%; Rebar 3679, up 0.79%; Rubber 10995, up by 0.78%; The PVC index was 6565, up 0.61%; Zheng Chun 18 16, up by 0.28%; Shanghai Aluminum 14430, up by 2.20%; Shanghai nickel 108000, up1.71%; Iron ore was 798.5, up 3.57%; Coke 1886, up by 0.56%; Coking coal 1 199, down 0.17%; Crude oil 3 13.9, up1.19%;

Agricultural products: soybean oil 5836, up 0.17%; Corn 2 146, down 0.23%; Palm oil 4982, down 0.20%; Cotton 12305, up by 0.29%; Zhengmai 2532, down 0.12%; Sugar 5 136, up 0.65%; Apple 78 1 1, down 3.52%;

Exchange rate: Euro/USD 1. 1299, up 0.12%; USD/RMB 7.0 104, up 0.19%; USD/HK$ 7.7525, up 0.03%.

(The above futures data are from Shanghai Futures Exchange, Dalian Commodity Exchange and Zhengzhou Commodity Exchange)

Main recommendations

1, CBRC: Banks and insurance institutions are strictly prohibited from participating in off-exchange fund-raising in violation of regulations, and excessive leverage and speculation are strictly investigated.

According to a spokesman for the China Banking and Insurance Regulatory Commission, we should urge and guide funds to "get rid of virtual reality". Carry out in-depth rectification of market chaos "looking back" and severely crack down on fund idling and illegal arbitrage according to law. At present, it is especially necessary to strengthen the supervision of capital flow, standardize cross-market capital exchanges and business cooperation, prohibit banks and insurance institutions from illegally participating in off-exchange fund-raising, strictly investigate excessive leverage and speculation, prevent asset bubbles, and ensure that financial resources really flow to the fields and links most needed by the real economy.

Comments: Since the beginning of this year, the pressure on non-performing assets has been increasing. Recently, some funds have illegally flowed into the housing market and the stock market, pushing up the asset price bubble, which is the background reason for the CBRC to strictly investigate excessive leverage and speculation. The CBRC's move is also a precautionary measure to avoid the situation that asset price bubbles are too big like 20 15, which leads to a sharp rise and fall. This news is unfavorable to the short-term trend of the market.

(investment consultant? Jin Cai? Certificate number of registered investment consultant: S02606 1 1090020)

2. The national flood control level III emergency response is level II.

At 12 and 16, the water level at Hukou Station of Poyang Lake is close to the guaranteed water level of 22.50m.. According to the relevant provisions of the National Emergency Plan for Flood Control and Drought Relief, after consultation and judgment, the National Defense General decided to upgrade the flood control level III emergency response to level II, and issued a notice to the relevant areas, requesting to closely monitor the changes of rain and water conditions, adjust the emergency response level in time, and strengthen the implementation of corresponding flood control and flood relief measures to ensure the people. The National Defense General and Emergency Management Department sent working groups and expert groups led by ministerial leaders to Jiangxi and other places to guide flood control and disaster relief work.

Comments: Due to the severe flood control situation in the southern region, stocks with the theme of water conservancy construction have generally increased well in the past two weeks. With the improvement of the emergency level of flood control, it is expected that the stocks in this sector are likely to remain active in the short term, but it is necessary to be cautious to continue chasing up.

(investment consultant? Jin Cai? Certificate number of registered investment consultant: S02606 1 1090020)

Market review

1, market comments: shrinkage adjustment, mainly short-term shock.

On Friday, the market indexes of the two cities fluctuated and closed down, and the total market turnover decreased from Thursday, with a total turnover of 1, 6 1.25 billion yuan. Specifically, the Shanghai Composite Index closed down 1.95% at 3,383.32 points; The Shenzhen Component Index fell 0.6 1% to close at 1367 1.2. The GEM index rose 0.75% to close at 2,778.46 points.

The concept of tax exemption, biological vaccine concept stocks and chip stocks performed strongly, while financial stocks performed differently and resource stocks performed poorly. From the trend point of view, the index has technical adjustment requirements after a short-term continuous rise, and the shrinking transaction volume also shows that the willingness to chase up funds is insufficient. It is expected that the probability of short-term shocks will further increase and the risk of stock volatility will rise. Operationally, in the short term, the funds of financial stocks will be cashed and flow into other sectors.

In terms of opportunities, it is suggested to continue to pay attention to the investment opportunities of large-cap companies such as food and beverage, new energy industry chain, consumer electronics, chips and semiconductors.

(investment consultant? Yang Dong? Certificate number of registered investment consultant. :S02606 15080007)

2. Printed circuit board industry: Head communication PCB manufacturers grow together with the 5G process.

According to the preliminary estimate of Prismark, a research institute, most PCB market segments declined in 20 19, but the output value of servers/data storage increased by 3. 1% year-on-year, reaching $497 1 billion, and the wired infrastructure and wireless infrastructure increased by 6.2% and 7. 1% year-on-year, respectively, reaching. It is predicted that the compound growth rate of 8- 16-storey multilayer board and 8-storey super-high-rise board, which are mainly used in the communication field, will reach 6.5% and 8.8% respectively from 2009 to 2024.

Comments: In 2020, with the acceleration of 5G construction, more and more information and data will be generated and transmitted at a higher speed, and the demand for high-frequency and high-speed PCB in 5G Hong Jizhan and data centers will increase steadily.

(Investment consultant Yang Dong? Certificate number of registered investment consultant. :S02606 15080007)