A-share sentiment "boosted again": the Beijing Stock Exchange "carnival", real estate is good again

The Beijing Stock Exchange has become the biggest bright spot in the A-share market.

On November 21, as of the end of the day, the Shanghai Composite Index was at 3,067.93 points, down 0.01%, the Shenzhen Component Index was at 9,997.09 points, down 0.26%, and the ChiNext Index was at 1,984.27 points, down 0.44%. As the biggest highlight of today's market, the Beijing Stock Exchange 50 Index began to soar in the morning, rising by more than 11% at one point during the session, and finally closed up 4.51%. 7 stocks on the Beijing Stock Exchange had a 30CM daily limit, and only 5 stocks fell among the 231 stocks on the Beijing Stock Exchange.

On the market, the real estate sector was strong throughout the day, and as of the close, Rongsheng Development (002146. SZ), Jinke (000656. SZ), Shenzhen Industry A (000006.SZ), Dalong Real Estate (600159. SH), Sanxiang Impression (000863. SZ) and other shares, the short drama game sector rose first, Gravity Media (603598.SH), Rock Mountain Technology (002195. SZ) rose by the limit, Haikan shares (301265.SZ) rose by more than 14%, and the semiconductor sector was adjusted, and Huahai Chengke (688535. SH) fell more than 12%, and Zhongfu Circuit (300814. SZ) fell more than 9%, and Cambrian-U (688256.SH) fell more than 6%.

"Judging from the economic and financial data released one after another, although it is still facing the dilemma of insufficient aggregate demand, the basic trend of the mainland's economy remains unchanged. With the accumulation of positive factors, the sentiment of the A-share market has been boosted, the market turnover has once again exceeded the trillion mark, and risk appetite has also rebounded. Recently, the rotation of market sectors is still rapid, and the persistence of hot spots is not strong, so it can be appropriately balanced. Bosera Fund told reporters.

The Beijing Stock Exchange started a carnival

The performance of the Beijing Stock Exchange today can be described as a blockbuster.

The Beijing Stock Exchange 50 Index strengthened all the way in the morning, and all 231 stocks on the Beijing Stock Exchange were in a state of gain. Despite the rise and fall throughout the day, the Beijing Stock Exchange 50 still closed up 4.51%, and a total of 226 stocks on the Beijing Stock Exchange rose, with a full-day turnover of 10.272 billion yuan, the highest day since its opening.

In terms of specific stocks, as of the end of the day, Liujin Technology (834021. BJ), Xingchen Technology (834885. BJ), Zhisheng Information (832171. BJ), Xujie Technology (836419. BJ), Sanwei Co., Ltd. (831834. BJ), Huayang Transmission (839946. BJ), Haidar (836699. BJ) is 30CM daily limit.

Judging from the news, the Beijing Stock Exchange has been good recently. On November 17, China Securities Index Co., Ltd. said that it decided to include eligible securities of the Beijing Stock Exchange in the sample space of the CSI All-Index Index to further enhance the representation of cross-market indexes. In this regard, the market generally believes that this move will help guide more medium and long-term funds to be allocated to companies listed on the Beijing Stock Exchange and bring more liquidity to the market.

In addition, on November 20, the Beijing Stock Exchange sent a letter of approval for the evaluation and test of the stock market-making trading business of the Beijing Stock Exchange to Haitong Securities, Guoyuan Securities and other securities firms. After obtaining the approval letter and obtaining the corresponding market-making qualifications with the approval of the China Securities Regulatory Commission, the securities firm can carry out market-making business on the Beijing Stock Exchange. After the recent implementation of the market maker expansion, it will further introduce incremental funds to the Beijing Stock Exchange market, and the liquidity of the Beijing Stock Exchange is expected to continue to improve, and the attractiveness of individual stocks on the Beijing Stock Exchange is expected to continue to rise.

"At present, the BSE 50 Index has good long-term investment value. The constituent stocks of the BSE 50 Index are the small-cap index with the highest proportion of specialized, refined, special and new high-quality enterprises, and the industry distribution is relatively balanced, covering power equipment, basic chemicals, machinery, pharmaceutical industries, etc. Dong Liang, chief quantitative investment officer of Chuangjin Hexin Fund, told reporters.

It further pointed out that the current valuation advantage of the Beijing Stock Exchange 50 Index is obvious. As of November 20, the price-to-earnings ratio (TTM, overall method) of the BSE 50 Index was 19.55 times, compared with 29.21 times of the ChiNext Index and 45.27 times of the Science and Technology Innovation Board 50 Index. Some companies with higher weighting but lower valuations in the BSE 50 Index may face the opportunity to revalue as the allocation demand increases. As the activity of participants in the BSE market increases, liquidity increases, which will also improve the performance of individual stocks on the BSE.

The real estate sector is good again

In addition to the Beijing Stock Exchange, the performance of the real estate sector is another bright spot in today's market.

As of the end of November 21, a number of real estate stocks rose to the limit, and real estate bonds also rose, "22 Longfor 03", "22 Longfor 02", "21 Longfor 04", "21 Longfor 02", "21 Longfor 06", "20 Longfor 04", "20 Longfor 02", "21 Gemdale 01", "21 Gemdale 03", etc. all rose by more than 10%.

On the news side, Sunac China (1918. HK) announced yesterday that it had successfully restructured its offshore debt after 18 months, resolving about 90 billion yuan (about S$17.2 billion) of debt risk, and becoming the first large real estate company to complete the entire debt restructuring process.

In addition, according to the Economic Observer, a white list of real estate companies that are still in normal operation according to the size of their assets is being drafted, and the regulator emphasizes that the normal financing needs of the companies on the white list should be met. The whitelist includes about 50 domestic real estate companies with different ownerships.

Previously, on November 17, the People's Bank of China, the State Administration of Financial Supervision and the China Securities Regulatory Commission jointly held a forum for financial institutions, emphasizing that the reasonable financing needs of real estate enterprises under different ownership systems should be met without discrimination. On November 19, the relevant person of the China Securities Regulatory Commission said that the China Securities Regulatory Commission will implement the deployment requirements of the Central Financial Work Conference and this symposium, and adhere to the "one department and one policy" to resolve the default risk of large real estate enterprise bonds.

"Boosted by a number of factors, the real estate industry led the rise today, and the real estate industry chain strengthened. At present, the overall property market continues to recover, but market sentiment and confidence need to be enhanced. The continuous warmth of the real estate industry policy level is expected to further boost confidence and promote the healthy and stable development of the real estate market. Bosera Fund told reporters.

Guojin Securities pointed out that the current supply-side support is ready to go. It is expected that the support of financial institutions for the financing of the real estate industry is expected to increase, and more financial policies to support real estate are expected to be implemented. Supply-side financing support is conducive to alleviating the current credit contraction problem and cash flow pressure of real estate enterprises, helping to boost market confidence and promote the return to stable development of the real estate industry.