In early trading on Thursday (May 25), both Shanghai and Shenzhen markets opened lower. The Shanghai Index was protected by the financial and steel sectors and was significantly stronger than the GEM Index. After midday, the Shanghai Index shot up to 3114 points and fell back, while the GEM Index fell back in the east.
Led by Fortune and other heavyweight stocks, they surged into the red. As of today's close, both cities had closed in the red, with trading volume enlarging compared to the previous day.
As of the closing of the Shanghai and Shenzhen stock markets, the Shanghai Composite Index closed at 3107.83 points, up 43.75 points, or 1.43%, with a turnover of 201.9 billion yuan; the Shenzhen Stock Exchange Component Index closed at 9893.78 points, up 81.32 points, or 0.83%, with a turnover of 226.8 billion yuan;
The GEM index closed at 1,777.69 points, up 1.41 points, or 0.08%, with a turnover of 63 billion yuan.
On the market, securities firms, banks, insurance, Xiongan New Area, real estate and other sectors were among the top gainers; only mining services, sub-new stocks, hotels and restaurants and other sectors fell in the two cities.
In terms of funds, the net inflow of Shanghai Stock Connect was 1.075 billion yuan, and the net inflow of Shenzhen Stock Connect was 600 million yuan.
In addition, the central bank conducted 60 billion yuan of 7-day reverse repurchase operations and 10 billion yuan of 14-day reverse repurchase operations in the open market. Today, 70 billion yuan of reverse repurchase operations expired.
Hot sectors: HNA Innovation hit the daily limit in the afternoon, driving the real estate sector to rise sharply. Vantone Real Estate, HNA Innovation, Nanguo Real Estate, Guangdong Hongyuan A, Xincheng Holdings hit the limit, Beichen Industrial rose more than 8%, Vanke A, Binjiang Group rose more than 6%
, Huafa shares rose more than 5%.
The strong closure of the space board industry led to a sharp rebound in Xiongan New District in the afternoon. The space board industry, Zhonghuan Equipment, Airport Shares, Sente Shares, Nanguo Real Estate, Dun'an Environment, Beijing Cree, Huida Sanitary Ware, Kaifa Electric rose to their limit, and Hua
Si shares, Baoshuo shares rose more than 6%, Sinoma Energy Saving, Baobian Electric, petrochemical machinery, Jiantou Energy, Huizhong shares rose more than 5%.
On the list of decliners, mining services, sub-new stocks, hotels and catering sectors were among the top losers.
News: 1. According to the Civil Aviation Administration of China, the 2017 China Civil Aviation Development Forum was held in Beijing on the 25th. Feng Zhenglin, director of the Civil Aviation Administration, pointed out that China’s civil aviation will focus on promoting the structural reform of the supply side of civil aviation and focus on bottleneck issues and deep-seated problems.
Contradictory, we strive to build three world-class airport clusters in the Beijing-Tianjin-Hebei region, the Yangtze River Delta, and the Pearl River Delta, and build the three major international aviation hubs of Beijing, Shanghai, and Guangzhou.
2. Recently, the Ministry of Environmental Protection and the Ministry of Housing and Urban-Rural Development jointly issued the "Guiding Opinions on Promoting the Opening of Environmental Protection Facilities and Urban Sewage and Waste Treatment Facilities to the Public", requiring local environmental protection departments and housing construction departments to take the lead in guiding local environmental monitoring, urban sewage treatment, and urban life.
The four facilities for garbage disposal, hazardous waste and discarded electrical and electronic products are regularly open to the public, and use this as a starting point to allow the public to understand, support and participate in environmental protection, stimulate public awareness of environmental responsibility, and promote the formation of an ecological civilization and environmental protection
A good trend for building a beautiful China.
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Institutional view: Haitong Securities believes that financial stocks are currently the most undervalued and underweighted sector, and are prone to expected differences.
The proportion of financial stocks among the fund's heavy holdings is at a historically low level, of which 5.2% is banks (4.4% after excluding the five national team funds) and 2.2% is non-bank, which is significantly underweighted.
The valuation percentiles of the two are also at historically low positions. Currently, bank and non-bank financial PE are at the 41% and 40% since 2005, and PB is at the 7% and 14% since 2005.
The underlying reason for the underestimation of financial stocks is the lack of confidence in macroeconomic stabilization. As long as economic growth is stable in the second half of the year, expectations for financial stocks will be restored, and the strengthening of financial supervision will ultimately benefit big banks.
Essence Securities believes that from the perspective of the short cycle of two quarters, due to factors such as the inventory cycle, real estate construction and the high point of the economic boom, the economy will open higher and lower in the next two quarters, superimposed on the capital outflow caused by financial deleveraging.
The market style of the stock market continues to diverge, and leading stocks with large market capitalization may have stronger trends.