The three major stock indexes of A-shares rebounded collectively in the afternoon. The GEM index rose more than 2%. The domestic chip concept stocks started to rise and stop, and the national technology and other 19-day daily limit; in addition, domestic software, Beidou navigation and other sectors also rose. The Hainan plate plummeted, and three shares of the Straits shares fell. As of press time, the Shanghai Composite Index rose by 0.70%, and the GEM Index rose by 1.81%. (点击查阅>>Domestic chip concept stock market Domestic chip concept stock capital flow)
At the brokerage morning meeting today, analysts said that the RRR cut will enhance market confidence, improve the market's pessimistic expectations, and increase market liquidity.
Chuan Cai Securities:
The funds released by this targeted RRR release are slightly more than the MLFs that need to be repaid. Based on the data at the end of the first quarter of 2018, the MLF is repaid about 900 billion yuan on the day of operation, and the incremental funds are released by about 400 billion yuan. Most of the incremental funds are released. It has given city commercial banks and non-county farmer commercial banks an increase in low-cost funding sources for small and micro enterprise loans. The People's Bank of China requires relevant financial institutions to mainly use new funds for small and micro enterprise loans, and appropriately reduce the financing costs of small and micro enterprises and improve financial services for small and micro enterprises. Guided by banks to adjust the credit policy structurally, and to tilt funds to SMEs, it will help reduce the impact of economic deleveraging on the development of SMEs and protect the vitality of SMEs.
The RRR cut is the first time the central bank has lowered its bid in the past two years. The RRR cut will release 400 billion yuan of liquidity to the economy. The downgrade reflects the firm determination of the central bank to maintain the real economy and financial market stability. The impact of the RRR cut on the exchange rate is reduced, and the domestic economic growth rate is slowing down. The RRR cut is conducive to maintaining a stable economic operation. At the same time, this RRR cut will enhance market confidence and increase market liquidity, which is conducive to growth industry performance. We are optimistic about industries such as military industry and computers, 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, capital chasing is certainty. Uncertainty is the biggest enemy of the capital market. Every trade dispute, war situation, financial crisis, etc. are the main factors that cause large fluctuations in the capital market. In the second quarter, the external uncertainty factor is the deterioration of geopolitics and the escalation of trade disputes; the inherent uncertainty factor is whether the historical law of lack of liquidity can be reproduced. The short-term market is still difficult to be optimistic, and the technical counter-draw is still difficult to change the weak, and the gentleman does not stand under the dangerous wall. In operation, the position of the control, the position of the light warehouse is mainly wait-and-see, or the dips are concerned about the bottom-up stock trading opportunities, avoiding the recent stock price increase.
At the stock market level, due to the potential trade war risk and the recent economic and financial data is less than expected, the market's outlook on the economy is more negative, suppressing the trend of the financial and cyclical sectors, and the financial and cyclical sectors in our often concerned data level. The market turnover is at a historical low. The RRR cut is expected to increase the currency multiplier and bank loan capacity, improve the market's overly pessimistic expectations, and be more conducive to the performance of the financial and cyclical sectors. From the performance of the futures market, we can also see the repair of pessimistic expectations, and the prices of bulk commodities such as the black system, which is highly correlated with the domestic economy, generally rise.
Domestic chip theme fund
|Fund code||Fund abbreviation||Nearly three months of earnings||Handling fee||operating|
|001071||Huaan Media Internet Mix||16.44%||1.50% 0.15%||buy Account opening|
|001268||Rich country national security theme mix||17.78%||1.50% 0.15%||buy Account opening|
|519961||Changxin Liguang Mix A||12.71%||0.80% 0.08%||buy Account opening|
|002064||Huafu industry upgrade flexible configuration mix||7.75%||1.50% 0.15%||buy Account opening|
|004670||Changsheng shares the economic theme flexible configuration mix||5.00%||1.50% 0.15%||buy Account opening|