The three major stock indexes of A shares fell back in the afternoon. The artificial intelligence sector has swelled and stopped, and the game has 13 daily limit for intelligence. In addition, brokerage, security, wine, software, electronic information and other sectors also rose. As of press time, the Shanghai Composite Index rose 0.30%, the Shenzhen Component Index rose 1.50%, and the GEM Index rose 1.60%.
At the brokerage morning meeting today, analysts said that the policy is basically clear, and the market still needs to wait.
In October, the Shanghai Composite Index was affected by continuous major adjustments after the holiday, falling 7.75% month-on-month; Shenzhen Composite Index fell nearly 11%, the largest monthly decline since January 2016; the GEM index fell 9.62%, Shenzhen Component Index and The GEM index fell for the seventh consecutive month. The A-share market continued to fluctuate and investors' trading was active. The later A-share market may continue to show a volatile situation. In the near future, we should continue to pay attention to the efforts of relevant policies to maintain the market. On the 31st, the Central Committee held a meeting of the Politburo. Although the Politburo meeting did not focus on stabilizing domestic demand, it is necessary to stabilize the domestic demand from the perspective of the central government's judgment on the economic situation and the downward pressure on the “six stables”. Sex is unquestionable. More proactive fiscal and monetary policies to stabilize domestic demand are essential.
The bottom of the policy is basically clear, but the economic turning point and the turning point of corporate profit have not yet been seen. The bottom of the market still needs to wait. The probability of the index will fluctuate sideways for a period of time, paying attention to the opportunities brought about by the introduction of policies. Industry view: Optimistic about the upstream and infrastructure sectors that are in line with national policies; the white horse sector that has oversold and overshooted; the bank real estate sector with valuation advantages.
The recent sharp adjustment of the capital market has attracted the attention of the decision-making level, and the importance of the healthy development of the capital market has become one of the key tasks of economic work in the future. We expect that there will be more "stable market" measures, and the "policy base" has become clear. We believe that these two directions are the main focus of future theme investments.
The October 31 meeting of the Political Bureau of the Central Committee clearly stated that the capital market should "inspire vitality." The meeting proposed "to focus on capital market reform, strengthen institutional development, stimulate market vitality, and promote long-term healthy development of the capital market." We believe that from the perspective of the Politburo meeting in the past years, it is extremely rare to mention the capital market directly. In the medium and long term, policy measures to promote the capital market are expected to be intensively introduced.