On October 16, the Shanghai Stock Index opened higher and moved higher, then fell back after rising during the session, and turned green near midday.

The Shenzhen Component Index and the ChiNext Index plunged sharply, both falling by more than 1%.

The trading volume in the two cities remained at a low level, and the market as a whole was relatively weak. The net inflow of northbound funds once exceeded 1.3 billion yuan during the session, and then quickly returned.

Real-time market conditions for the ChiNext Index. As of midday closing, the Shanghai Stock Exchange Index fell 0.28% to 3322.85 points, the Shenzhen Component Index fell 1.28%, and the ChiNext Index fell 1.45%. The two cities' total transaction volume was 444.4 billion yuan, with a small net inflow of northbound funds.

On the market, the gas sector has risen sharply, with Disen, Huitian Thermal Power, Ningbo Thermal Power, etc. reaching their daily limit; coal, banking, petroleum, insurance and other sectors have strengthened; automobiles, brewing, hotels and restaurants, agriculture, semiconductors and other sectors have weakened.

Guosheng Securities pointed out that the market's fluctuations on Thursday were within the expected range. After the continuous rise after the holiday, it once again stepped back on the 5-day moving average, digesting profit taking and early hold-up orders, which is relatively more conducive to the interpretation of the later market.

The recently released macroeconomic data showed that the monetary policy data of 1.9 trillion yuan in new credit in September exceeded expectations. It can be seen that at least from the perspective of regulating the economy, the counter-cyclical period has not completely ended.

Especially in the context that the epidemic situation in other major foreign economies has not been effectively controlled, my country's economic performance will attract more foreign investment into A-shares, so in the medium and long term, A-shares will still maintain a volatile upward pattern.

Operationally, we still maintain our previous view, with a light index and heavy emphasis on individual stocks, focusing on new energy and new energy automobile industry chains; focusing on home appliances, automobiles and parts that are lagging in consumption and still have low valuations based on the continued recovery of economic growth.

, light industrial home furnishings, media leaders, etc.; pay attention to securities firms and insurance leaders in the old economy, and some raw material industries; pay attention to opportunities in the industry chain related to Apple's new mobile phone sales expectations, and pay attention to the 5G layout of the 14th Five-Year Plan.

Northeast Securities said that it is expected that the short-term market trend is more likely to be that the index fluctuates repeatedly to seek support near 3300 points and the 20-day moving average before rebounding.

Therefore, we maintain our recent thinking, taking into account that the rise-down ratio of individual stocks shows more declines than rises and the flash crash of some white horse stocks. In terms of operations, the index fluctuates and is neither sad nor happy. Structural optimization is used instead of position adjustment. Moderate bands are mainly used, and the upper range

If you need to increase your position, you can consider intervention after the index returns to the 20-day moving average.

We will respond with the idea of ????shocking the market and structural opportunities before the Fifth Plenary Session of the Central Committee, focusing on the main line of economic recovery, the theme of the 14th Five-Year Plan, the third quarterly report, etc., and continue to focus on non-bank finance, resource cycle products, new energy, medicine, military industry and related

The 14th Five-Year Plan and other topics; and in the medium term, if the style is more balanced or moderately focused on the financial cycle with low valuations, in response to the possibility of significant growth in economic data next year and changes in monetary policy and inflation, there will be financial cycle stocks at that time

In the case of restoration or passive dominance, the market may be in advance.