A shares of the three major stock indexes rebounded collectively in the afternoon, the GEM index rose more than 2%, domestic chip concept stocks set off a rising tide, the national technology and other 19 shares daily limit; In addition, domestic software, Beidou navigation and other sectors also rose among the top. The Hainan plate plummeted and the Straits shares and other 3 stocks fell below the limit. As of the press release, the Shanghai Composite Index rose 0.70%, and the ChiNext rose 1.81%. (Click to view>>Domestic chip concept stock market Domestic chip concept stock capital flow)
Today's message surface:
At the morning meeting of brokers today, analysts said that the RRR cut will boost market confidence, improve the market's pessimistic expectations, and increase market liquidity.
Sichuan Finance Securities:
The funds for this targeted RRR release are slightly higher than the MLFs that need to be repaid. Using the data at the end of the first quarter of 2018, it is estimated that about RMB 900 billion will be repaid to MLF on the day of the operation, while incremental funds will be released at about RMB 400 billion. Most of the incremental funds will be released. City commercial banks and non-county rural commercial banks were added to increase the low-cost funding sources for small and micro enterprise loans. The People's Bank of China requires relevant financial institutions to use the new funds mainly for the loans of small and micro enterprises, and appropriately reduce the financing costs of small and micro enterprises, and improve the financial services to small and micro enterprises. Directing the banks to adjust the structural adjustment of credit policies and tilting funds to SMEs will help reduce the impact of economic deleveraging on the development of SMEs and protect the vitality of SMEs.
The current RRR cut was the first time the central bank lowered the benchmark in two years. The current RRR cut will release 400 billion yuan of liquidity to the economy. The RRR cut reflects the firm determination of the central bank to maintain the real economy and stability of the financial market, under the condition of a strong RMB exchange rate. The impact of the RRR cut on the exchange rate is reduced, and the domestic economic growth rate has a slowing trend. The lowering of allowances will help maintain the stable operation of the economy. At the same time, this reduction will increase market confidence and increase market liquidity, which is conducive to the growth of the industry. We are optimistic about military, computer and other industries, as well as high-quality targets with independent core intellectual property rights and import substitution capabilities in the fields of electronics and communications. We are optimistic about the rebound performance of banks and real estate industries.
For the capital market, the pursuit of capital is certain. Uncertainty is the biggest enemy of the capital market. Every trade dispute, war situation, financial crisis, etc., are major factors triggering large fluctuations in the capital market. In the second quarter, the external uncertainty factors are the deterioration of geopolitics and the escalation of trade disputes. The inherent uncertainty is whether the historical law of the lack of liquidity can be reproduced. The short-term market is still hard to be optimistic, and the technology is still difficult to change the weak, the gentleman does not stand under the dangerous wall. Operationally, control positions, light positions are mainly wait-and-see, or dips on the bottom of the compensatory stock trading opportunities, to avoid the recent share price increase over-high stocks.
At the stock market level, due to potential trade warfare risks and recent economic and financial data being less than expected, the market’s outlook for the economy is more negative, suppressing the trend of the financial and cyclical sectors, and manifesting itself in the financial and cyclical sectors at our often-watched data level. The proportion of market transactions is at historically low levels. The RRR cut policy is expected to increase the money multiplier and bank loan capacity, improve the market's overly pessimistic expectations, and be more conducive to the financial and cyclical sector performance. From the performance of the futures market, the recovery of pessimistic expectations can also be seen, and prices of bulk commodities such as the black system that are highly related to the domestic economy generally rise.
Domestic chip theme fund
|Fund code||Fund abbreviation||Nearly three months earnings||Fees||operating|
|001071||Huaan Media Internet Mix||16.44%||1.50% 0.15%||buy Open an account to buy|
|001268||Rich country security theme mix||17.78%||1.50% 0.15%||buy Open an account to buy|
|519961||Long letter wide mixed A||12.71%||0.80% 0.08%||buy Open an account to buy|
|002064||Huafu Industry Upgrades Flexible Configuration Mix||7.75%||1.50% 0.15%||buy Open an account to buy|
|004670||Changsheng share economic topics flexible configuration mix||5.00%||1.50% 0.15%||buy Open an account to buy|