Spark Global Limited reports:
On Monday, the three major A-share indexes collectively fell, with the education and liquor sectors in the green. Afternoon opening, the three major indexes continued to fall. As of 13:44, the gem fell 5% within the day, falling below 3300 points; Shanghai fell 3.39%; The Shenzhen Component Index extended losses to 4 per cent. More than 3,700 shares fell in both markets, while less than 700 shares rose. As of press time, northbound capital has actually sold more than 10 billion yuan net.
Fortunately, in the late session, under the semiconductor assists, A shares of the three major indexes narrowed to within 3 percent.
By the close, the Shanghai index was down 2.34 percent, the Shenzhen Component index was down 2.65 percent, and the Growth Enterprise Market index was down 2.84 percent. On the disk, LED, military and other plates to advance; Medical beauty, cloud games, online education, biological vaccines and other sectors led the decline.
Northbound capital day net sold 12.8 billion yuan, nearly a year high.
Education, liquor plate fell sharply, bad news power is amazing
A share disk today, medical Beauty, liquor, medical, insurance plate led down; Uhv, biological breeding, military, charging pile, semiconductor rise against the trend.
As the Ministry of Education announced over the weekend that it would tighten supervision of online education, the three major after-school training companies plunged by 730 billion yuan. Monday morning A shares, education stocks also fell. Xueda education, Only Education and other direct open limit. Bean god education in the gem also fell by the daily limit. Hong Kong education stocks also took a beating. Afternoon in shares, New Oriental online fell more than 30%; New Oriental -S fell more than 37%.
Baijiu shares fell sharply in early trading on Monday, with the sector index down nearly 9% in afternoon trading. Kweichow Moutai broke the 1,800 yuan mark, down nearly 6%; Wuliangye touched the limit, Shanxi Fenjiu, Shere wine industry, Swellfang, tipo wine has previously fallen by the limit.
Among the hot liquor stocks with a market value of less than 100 billion yuan, Swellfun was closed by the trading limit at the opening. The company previously announced that its first-half net profit was 377 million yuan, while its first-quarter net profit was 419 million yuan, meaning that it recorded a net loss in the second quarter. Gujinggong wine plunged 8.38%; Today’s fate fell 8.21 percent. After the opening of the afternoon, Gujinggong wine fell 9.51 percent, the fate of the current limit.
Zhongtai securities in a research report pointed out that the recent plate movements or related to money adjustable positions, plate fund positions in the second quarter of liquor ratio decreased, but the fundamentals to see the continuation of the steady, high-end wine in the second half of the performance of steady growth, PiJia have upside, seeking up to upgrade at the same time, the current high-end wine corresponding valuation next year outstanding performance to price ratio. The one-year dimension yield brought by the valuation switch is relatively clear; The secondary high-end medium report is expected to increase in general, and it is optimistic that the core secondary high-end wine enterprises will enter the rapid growth stage of national expansion and dynamic sales volume in the next two years.
The FTSE China A50 tumbled 5 per cent, while the Hang Seng Technologies index posted its biggest drop of the day
The poor performance of A-shares also dragged the FTSE China A50 index lower, extending its daily loss to 5 per cent at press time and marking its biggest intraday drop since March last year.
Meanwhile, The State Administration for Market Regulation on Saturday ordered Tencent Holdings LTD to revoke its exclusive rights to online music. Shares of Internet giants fared poorly on Monday, with Hong Kong-based Tencent Holdings falling below the HK $500 mark and closing 6.52% lower in the morning on turnover of more than HK $21.7 billion.
The Hang Seng Technology Index fell in the afternoon, dropping 7 per cent in what was feared to be its biggest intraday fall on record. Meanwhile, Tencent Holdings continued its decline, down 7.38%; Alibaba fell 6.4% on the day, its biggest intraday decline since March.
Meituan, Alibaba-SW and Tencent Holdings accounted for the top three losses in the Hang Seng Index, which fell 1,000 points on the day and extended losses to 4 percent in late trading.
Kuaishou fell in late trading and is now down nearly 12 per cent at HK $114.4, below its OFFERING price of HK $115. According to China Securities Journal, on the morning of July 26, a we-media news caused a shock in the market. The news said that the brokerage Morgan Stanley will fast hand target price from HK $300 per share to HK $50 per share. However, the reporter contacted the relevant Hong Kong brokerage analysts said, did not see the relevant research report, this news is the latest research report on Morgan Stanley misreported.
Meituan extended its losses to as much as 15 per cent in late trading, its biggest drop on record. Prior to this, the State Administration for Market Regulation and other seven departments jointly issued “on the implementation of online catering platform responsibility to effectively safeguard the rights and interests of food delivery workers.”
The hang Seng index fell more than 1,100 points to close down 4.13 per cent at its lowest level for the year. The Hang Seng Technology Index closed down 6.57 per cent, its biggest drop of the day. Education stocks were bloody, science and technology stocks collectively tumbled, property management, catering and other plates suffered heavy losses; Semiconductor plate late strong against the market to pull up.
In the United States stocks before the extended decline
In the United States, Chinese education stocks fell before the market, good future fell more than 70%, high road fell more than 63%, New Oriental fell more than 54%, Youdao fell more than 42%. Popular Chinese concept stocks before the market to maintain last week’s decline, shell, Didi fell more than 10%; Tencent Music Fell more than 16% after the state Administration of Market Regulation over the weekend ordered Tencent Holdings Ltd. to revoke its exclusive rights to online music. Futu Holdings, Vipshop will fall 7%, Xiaopeng Automobile, Baidu fell more than 5%.
Industrial Securities said that the medium-term to maintain the “macro panic in the second half of the year, A share is not A bear market, the market first after the rise of the basic judgment, there is no systemic risk in the market as A whole, flat in the search for novel, structural opportunities are exciting, and the long cattle of science and technology innovation is thriving. However, in the short term, the A-share market is faced with the risk of fluctuations in overseas markets, the pain in the process of reducing the stock risks at home, and the negative impact brought by the changes in supervision policies such as education and Internet. Therefore, the market enters A bumpy period in the short term, and the difficulty of making money in the previous hot topics such as science and technology innovation is increased, and even there are adjustment risks. Investment strategy, it is recommended to take the opportunity to adjust and optimize the position portfolio, the patient layout of high-quality growth stocks on dips, do not recommend blind reduction of positions because of short-term pessimism.
Guotai Junan Securities pointed out that in the second half of the year, there are two major macro risks in the market, the domestic economic recovery pace is more than expected to decline, and the United States continued high inflation caused by Taper pace ahead of time, and high profit growth can simultaneously counter the macro economic growth rate and overseas monetary tightening liquidity shock. Based on this clue, combined with the performance guidance given to us in the announcement, we recommend two main investment lines: 1) high economy sustainable: semiconductor, new energy can pay attention to military, special equipment and other industries; 2) The industry may usher in an economic turning point, and there is room to configure food and beverage, auto parts, consumer electronics, etc.
Essence Securities mentioned that growth continues to become the main line of the market in the middle of the three logic: (1) economic growth center long-term downward: growth is scarce; (2) Neutral loose monetary policy tone: liquidity conducive to growth style; ③ The logic of the long track is not falsified: style switching is difficult to happen. High in the short term, the industry boom and fund allocation direction adjustment makes the new energy, semiconductor and other popular track continue to maintain a strong, future growth stock market is expected to military industry, brokers in the early period of the contour boom stagnation plate and the automobile industry diffusion of marginal improvement recently, such as mid market is still expected to further extension to the small dish.
Citic Securities pointed out that the market liquidity began to tighten, is expected to plate extreme differentiation early end, but the overall market correction risk is very low, stable to good macro fundamentals support structure rebalancing, growth plate from the high track wheel to the low, some consumption and pharmaceutical industry with left layout value.