The Shanghai Composite Index returned to 3,000 points! The real estate sector continues to be positive, can market confidence be restored?

Source: China Business News, China Securities Journal, Wind

Today's A-share shrinkage climbed, the Shanghai Composite Index regained 3,000 points in the afternoon, and more than 3,100 shares rose in the market. Have the stocks you followed go up? Let's review today's stock market.

The three major indices were mixed

The turnover of the two cities shrank significantly

Today (December 12), the three major indexes were mixed, as of the close, the Shanghai Composite Index rose 0.4% to regain 3,000 points, the Shenzhen Component Index fell 0.08%, the ChiNext Index fell 0.62%, and the Beijing Stock Exchange 50 rose 1.22%.

Overall, individual stocks rose more and fell less, more than 3,100 shares in the two cities were red, and the transaction volume shrank significantly, with a turnover of 787.5 billion yuan today.

Wind data shows that northbound funds unilaterally sold 5.024 billion yuan throughout the day, including 1.829 billion yuan in Shanghai-Hong Kong Stock Connect and 3.195 billion yuan in Shenzhen-Hong Kong Stock Connect.

The main funds continued to net inflow into computers, banks, real estate and other sectors at the end of the session, and net outflows from communications, power equipment, non-ferrous metals and other sectors.

In terms of individual stocks, Agricultural Bank of China, Sichuan Jinding, and China Shipbuilding Technology received net inflows of 614 million yuan, 548 million yuan, and 511 million yuan.

In terms of net outflows, Xin Yisheng, Zhongji Innolight, and Tonghua Jinma were sold off 636 million yuan, 438 million yuan, and 435 million yuan respectively.

The education sector was strong throughout the day

The real estate sector was among the top gainers

On the disk, the China Shipbuilding Department, education, real estate development and other sectors were strong throughout the day, and the themes of photovoltaics, computing power, and lithium batteries were called back.

Specifically, the education sector was strong throughout the day, as of the close, Fangzhi Technology had a 20% daily limit, and Pearl River Piano, Guoxin Culture, China Hi-Tech, Zhiwei Intelligence and other stocks had a daily limit.

Jin Jun, investment director of Qianhai Boben Fund, believes that the market expects that the market share of AI+ education is expected to achieve exponential growth, which has prompted the education sector to come out of a strong independent market in the near future, but the sector has hit the bottom of the box in the early stage, and it is necessary to pay attention to the risk of structural adjustment.

The open source securities research report believes that the AI multimodal models represented by Pika 1.0 and Gemini continue to make breakthroughs, or promote the application of large models in education, office and other fields to accelerate the implementation and open up the space for commercialization.

Guosen Securities said that the regulatory attitude of the education industry is gradually becoming clearer, and the business model of superimposed education companies is being carried out in a more compliant form, and the results of stage transformation are prominent, and education companies are expected to show a strong recovery this year. In the long term, after the double reduction policy, the supply side of education and training institutions will be cleared by nearly 9%, the industry competition pattern will improve, and the industry prosperity is expected to be maintained under the mismatch between supply and demand.

Galaxy Securities also pointed out that the double reduction policy has brought about the clearing of industry supply, and in the future, with the acceleration of non-compliant supply to withdraw from the market, the trend of market concentration improvement is clear. The demand side is still rigid, and the number of college entrance examinations will continue to increase in the next ten years, driven by the orderly expansion of the enrollment scale of ordinary high schools and the integration of vocational and general education. The transformation of the new business of the leading education company is progressing smoothly, and the diversified layout of vocational education, education informatization, live streaming and other businesses is expected to broaden the growth space.

The real estate sector was among the top gainers, with many stocks such as Fuxing Shares, Zhongdi Investment, CCCC Real Estate, and Dalong Real Estate rising to the limit.

On the news side, according to the website of Wanda Group, on December 12, PAG Investment Group (PAG) and Dalian Wanda Commercial Management Group jointly announced the signing of a new investment agreement. According to the new agreement, Dalian Wanda Commercial Management holds 40% of the shares, making it the single largest shareholder, and several existing and new investor shareholders such as PAG participate in the investment, holding a total of 60% of the shares.

On the evening of December 11, Poly Development announced that it planned to spend 1 billion to 2 billion yuan to repurchase the company's shares, and the upper limit of the repurchase price was 15.19 yuan per share, which was nearly 60% higher than the current stock price. At the same time, the company's actual controller, Poly Group, plans to increase its holdings of the company's shares in the next 12 months, amounting to 250 million to 500 million yuan.

Xinzhi Software also announced on the 11th that about 380 million yuan was bought in Shanghai, and in the case of a downturn in the real estate market, Xinzhi Software bought a house by the market called "buying the bottom".

In addition, important progress has been made in the "three not less than", and the banks have held a symposium on real estate enterprises to pay close attention to the implementation, and the participating real estate enterprises are basically private real estate enterprises to support the implementation of financing guidance for real estate enterprises.

Some institutions believe that the current should be the lowest point of real estate fundamentals, and it can be appropriately arranged. Founder Securities believes that the "three not less than" can be implemented, and it is optimistic about the continuous repair of the financing side. Since the third quarter of this year, favorable policies for real estate have been issued frequently, and efforts have been made in all aspects of demand, investment and financing, and the determination of policies to stabilize the property market is firm, and the industry is expected to gradually stabilize.

According to the analysis of Guojin Securities, the support of various 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.

Ping An Securities' latest view said that short-term fundamental changes are still the key to affecting the real estate sector, and in the medium and long term, real estate companies with financing and land advantages, and with the help of industry adjustment period to continuously optimize asset quality, are expected to gradually win.

In terms of individual stocks, the share price of Poly Development rose by more than 7% with the two-pronged approach of repurchase and increase of holdings, and Tonghua Jinma crashed and fell in the afternoon.

The Shanghai Composite Index regained 3,000 points,

Can market confidence be restored at the same time?

Ping An Securities believes that with the further deepening of the transformation of macroeconomic fundamentals and the increasing number of new changes in emerging industrial technologies, technological growth will still be the main style of the market. Structural opportunities in the market are increasing significantly in 2024. The first is the main line of technological growth, represented by the automotive and TMT industries, and Huawei's industry chain is expected to lead technological innovation and application iteration, and the second is the main line of pharmaceutical growth, represented by innovative drugs, and the export chain has further opened up space.

Guosheng Securities believes that the key to the market to really strengthen lies in two aspects, one is the moderate amplification of trading volume, and the continuous entry of incremental funds can consolidate the bottom and bring about the continuation of the money-making effect; The policy aspect is also the focus of the next market attention. Strategically, short-term swing opportunities are still the mainstay, and in terms of direction, we can focus on trading opportunities in sectors such as intelligent driving, VR equipment, and artificial intelligence.

The market also hopes to judge the sustainability of policy strength and economic repair through the follow-up year-end Chinese medicine meeting and the setting of next year's GDP growth target, so the policy slope of the market outlook will become a key factor affecting the market. Comprehensive analysis, although there are still some factors that suppress the market, the probability of marginal improvement in the market outlook is obvious, and the market outlook has limited room for downward exploration, and it will be more repair-oriented.

Editor on duty: Su Xiao

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