The CSRC responded to the rumor that five "national team funds" had been liquidated: the report was misinterpreted.
The target scale of the first special product of insurance capital to solve the risk of stock pledge is 20 billion.
Market review
Market comment: Maotai's down limit and white horse collapse have increased the possibility of building a double bottom in the market.
Crude oil: Saudi Arabia promised to increase production, and crude oil will fluctuate below $80 in the short term.
Futures information
Metal energy: gold 277.45, down 0.48%; Copper 49900, down 0.00%; Rebar 4 170, down 0.50%; Rubber 1 1360, down1.43%; The PVC index was 6475, up 0.31%; Zheng Chun 3069, down 2.76%; Shanghai Aluminum 14 125, down 0.42%; Shanghai nickel 983300, down 0.63%; Iron ore 536, down 0.83%; Coke was 2385.5, down 0.58%; Coking coal 1390, down 0.50%; Crude oil was 538. 1, down 0.22%;
Agricultural products: soybean oil 5706, up 0.46%; Corn 1897, up by 0.42%; Palm oil 4674, up 0.30%; Cotton 14870, down 0.44%; Zheng Mai 2566, up 0.75%; White sugar 5077, down 0.55%; Apple 1 1 190, up1.84%;
Exchange rate: Euro/USD 1. 1377, down 0.22%; USD/RMB 6.9740, up 0.36%; USD/HK$ 7.8428, up 0.03%.
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1. The CSRC responded to the rumor that five "national team funds" had been liquidated: relevant reports were misinterpreted.
In response to market rumors that five "national team funds" have been liquidated, the CSRC said that relevant reports were misinterpreted. The fact is that the stocks held by relevant institutions have not decreased, but have increased.
Comments: The rumor of "national team fund liquidation" reported by some media before has dealt a great blow to the confidence of market investors in the current weak market. The positive response of the CSRC will help stabilize investors' confidence and have a positive impact on the market.
(investment consultant? Jin Cai? Certificate number of registered investment consultant: S02606 1 1090020)
2. The target scale of the first special product of insurance capital to solve the risk of stock pledge is 20 billion.
The first product "China Life Assets-Phoenix Series Products" was established by China Life Asset Management Co., Ltd. (China Life Assets) and will participate in resolving the liquidity risk of stock pledge of high-quality listed companies. This special product has been registered by PICC Asset Registration and Trading System Co., Ltd. ..
Comments: From local state-owned assets, to securities firms, and then to insurance funds, more and more capital has joined the ranks of resolving the liquidity risk of stock pledge. This move will help to further alleviate the market's concerns about the risk of stock pledge, which is good for private listed companies with certain industry status and good texture.
(investment consultant? Jin Cai? Certificate number of registered investment consultant: S02606 1 1090020)
Market review
1, market comment: Maotai's down limit and white horse collapse increase the possibility of building a double bottom in the market outlook.
On Monday, the two cities opened slightly lower and then oscillated lower, and the decline expanded in the afternoon. The theme is mainly the concept of stock repurchase stimulated by news. Technology stocks are active, and shell resources and state-owned assets also show the role of adding fuel to the flames. Unfortunately, the performance of white horse stocks represented by Kweichow Moutai (6005 19) is too weak, and the GEM index also dives in the afternoon. At the close, the Shanghai Composite Index fell 2. 18% to 2542. 10, the Shenzhen Component Index fell 2.43% to 7322.24, and the Growth Enterprise Market fell 1. 1% to1250.
Previously, institutions generally predicted that the profit growth rate of Maotai this year would be around 30%. Although the growth rate reached 40% in the first half of the year, the performance in the third quarter hardly increased, far below market expectations. Once the soul of the white horse can't escape the fate of the opening limit. Maotai's performance was lower than expected, reflecting that the liquor industry is facing great growth pressure, with a big cycle of ten years and a small cycle of three years. From the boom period of 20 16 to the present third year, liquor replenishment began to enter a stable growth period after rapid growth, and the boom began to decline. In the short term, the market pressure of white horse stocks appears. Prior to this, institutions believed in value investment and irrationally boosted blue-chip stocks, which was actually a disguised delivery package. Recently, many white horse stocks have failed to meet expectations, and their share prices have also plummeted. Investors should also treat it rationally, and it is not recommended to blindly believe in white horse stocks. Of course, the short-term white horse stocks headed by the above-mentioned securities 50 have a strong correlation with the trend of the external market, and today's plunge is also affected by the risks in the external market. In operation, investors are advised to hold shares mainly, try to avoid high-level white horse stocks, and callback can lay out excellent growth stocks on dips.
(The investment consultant has registered the investment consultant certificate number: S02606 130900 15)
2. Macro perspective: In September, the profits of industrial enterprises above designated size increased by 4. 1% year-on-year, with the previous value of 9.2%.
According to the data released by the Bureau of Statistics, from June 5438 to September, the total profits of industrial enterprises above designated size in China reached 49.710.34 billion yuan, up by10.4% year-on-year (based on comparable caliber, taking into account the adjustment of caliber stipulated by the statistical system, strengthening statistical law enforcement, eliminating duplicate data, divestiture of enterprise reform and other factors), and the growth rate was/kloc.
From May 438 to September, among the industrial enterprises above designated size, the state-owned holding enterprises realized a total profit of1529.43 billion yuan, a year-on-year increase of 23.3%; Collective enterprises realized a total profit of 654.38+04.59 billion yuan, an increase of 4.8%; Joint-stock enterprises realized a total profit of 3,508.88 billion yuan, a year-on-year increase of19.1%; Foreign-funded enterprises and enterprises invested by businessmen from Hong Kong, Macao and Taiwan realized a total profit of 65.438+0.23528 billion yuan, an increase of 5.7%; The total profit of private enterprises125910.50 billion yuan, an increase of 9.3%.
Investment Comments: In September, the profits of industrial enterprises above designated size only increased by 4. 1%, a rapid decline from the previous month. Although the industrial profit in the first three quarters increased by 14.7% year-on-year, and maintained a rapid growth overall, it began to decline significantly in the third quarter, mainly because domestic deleveraging entered the deep water area, which affected corporate profits; This year, the growth rate of automobile sales dropped significantly, which directly affected the entire automobile industry chain. With the deepening of Sino-US trade war, it is expected that industrial profits will be further under pressure in the fourth quarter and early next year. In order to stabilize the economy, the government has also taken measures such as reducing RRR to hedge. Short-term data is pessimistic, but it will not affect the medium-term improvement of China's economy.
(The investment consultant has registered the investment consultant certificate number: S02606 130900 15)
3. Crude oil: Saudi Arabia promised to increase production, and crude oil may remain below $80 in the short term.
10 year1On October 23rd, CEO of Saudi Aramco said that Saudi Arabia could increase its output to120,000 barrels per day within three months. If Saudi Arabia increases its production to120,000 barrels per day (an increase of150,000 barrels per day compared with September), it will be enough to make up for the decline in production in Iran and Venezuela, thus greatly narrowing the gap between supply and demand of crude oil and even turning into oversupply. Saudi Arabia's remarks led to a sharp drop in oil prices.
Investment Comments: Since the beginning of this year, crude oil prices have continued to strengthen against the trend under the strong performance of the US dollar index, mainly because Iran has been sanctioned and geopolitical risks have increased. In the short term, Saudi Arabia promised to increase production, which eased the pressure on crude oil supply to some extent. It is predicted that crude oil will continue to maintain a tight balance from Q4 of 18 to Q4 of 19Q 1. Saudi Arabia may reach a consensus with the United States, and it is expected that oil prices will remain below $80 before the end of the mid-term elections in the United States.
(The investment consultant has registered the investment consultant certificate number: S02606 130900 15)