【Daily Rating】The Shenzhen Component Index and the GEM Index both fell by more than 1%! The 10 times popular stocks hit the fall limit in the intraday dive, and the direction of power and power grid strengthened against the trend

Finance Associated Press

2024-05-28 16:51Published on the official account of Cailianpress, a subsidiary of Shanghai Shanghai Poster Industry Group

On May 28, the Financial Associated Press reported that the market fluctuated and adjusted throughout the day, with the ChiNext Index and the Shenzhen Component Index both falling by more than 1%. On the disk, the power and power grid industry chain continued to rise against the trend, among which green power and smart grid led the rise, and Chendian International, Star Power, Jinkong Power, Huayin Power, Electric Power Research Institute, and Zhongzhi Technology rose to the limit. The chip semiconductor sector bucked the trend and strengthened, with Taiji Co., Ltd., Yangfan New Materials, Broadcom Integration, and Shanghai Belling rising to the limit. Nonferrous metals and other resource stocks are active, Huayu Mining, Liyuan shares rose by the limit, Yuguang gold and lead, Huaxi nonferrous metals rose by more than 5%. In terms of decline, the real estate sector rose and fell, Xinhualian and Zhengyuan shares fell to the limit, and Debi Group, Tefa Service, I Love My Home, and Gemdale Group fell by more than 7%. Overall, individual stocks fell more and rose less, and more than 4,100 stocks in the whole market fell. The turnover of the Shanghai and Shenzhen stock markets today was 741.7 billion, a decrease of 33.1 billion from the previous trading day. At the close, the Shanghai Composite Index fell 0.46%, the Shenzhen Component Index fell 1.23%, and the ChiNext Index fell 1.35%.

Sector

On the plate, the concept stocks of power and power grid continued to be strong, with Chendian International and Dalian Thermal Power 3 boards, Star Power, Belden Energy, Jinkong Power, Huayin Power, Shenma Power, Meiyan Jixiang and other stocks with a daily limit.

Zhongtai Securities Research Report pointed out that deepening the reform of the power system is a long-term project, is the general trend of the development of the power market, and the introduction of the new version of the "basic rules for the operation of the power market" in the system and mechanism for the power market reform, the standardized operation of the power market and the orderly development of the policy basis. In the short term, the power IT field, spot trading and decision-making support systems may be the first to benefit. In the medium and long term, we will continue to pay attention to power infrastructure fields such as UHV, distribution grid, and smart grid.

From the perspective of the market, the direction of power and power grid is driven by the dual logic of power reform expectations and power grid going to sea, and has come out of a relatively independent trend market in the recent overall weak environment. However, it should be noted that most of the recent leaders are sentimental targets with small market capitalization, and after experiencing continuous volume increases, individual stocks within the sector may intensify their divergence, so the follow-up can focus on the low-absorption opportunities when the short-term rebound of those trend-oriented targets appears.

The semiconductor chip industry chain is active again, Broadcom integrates 3 boards, Taiji shares, Shanghai Belling, Fuman Micro, Rongta Sensitive, Zhongjing Technology, Jiejie Microelectronics, Guoke Microelectronics and other stocks are among the top gainers. Guojin Securities said that semiconductor equipment components play an important role in the industrial chain, with a large number and variety, and obvious market fragmentation. After the implementation of the third phase of the fund, the order prosperity of component manufacturers in 1H24 is expected to improve, the order expectations of equipment manufacturers in 24 years are generally optimistic, and the orders and utilization rate of component manufacturers in 1Q24 remain at a high level, and the performance of component manufacturers in 2Q24 is expected to continue to improve year-on-year.

However, it should be noted that most semiconductor stocks have fluctuated and fallen due to the lack of follow-up momentum after experiencing an impulsive rally in the early trading stage today. Combined with its own large plate capacity, if there is still no incremental capital to enter the market tomorrow, it is difficult to form a continuous plate market. However, the overall rank of individual stocks in this direction is still relatively low, and with the influx of short-term active funds, some of the core targets in the front row may be expected to get out of a certain local stock market.

In terms of individual stocks

At the level of individual stocks, power stocks are undoubtedly the best direction for the continuity of the current market, among which Zhongzhi Technology (20CM), Dalian Thermal Power, and Chendian International have all been promoted to 3 boards, and have begun to continue to spread to the back row of stocks. In addition, it should be noted that among the less than 30 stocks with a daily limit today, the number of 20CM daily limits reached 8, which shows that under the situation that the height of the 10CM board is always difficult to break through, funds are more willing to launch 20CM stocks for short-term arbitrage.

In addition, the loss effect of today's market is also obvious, among which real estate stocks encountered concentrated selling pressure after opening slightly higher, among which Xinhualian fell to the limit, Debe Group, Tefa Services, I love my home, Gemdale Group and other popular stocks also fell more than 7%. On the other hand, chemical stocks also weakened, and the most core 10 times the popular stock Zhengdan shares also dived and hit the fall limit in the intraday, and finally fell more than 17%, and Baolidi and Baichuan shares also suffered a downward trend. The concept of AI continued to weaken, with Zhongji Innolight, Victory Giant Technology, Inspur Information, and Unisplendour falling by more than 4%, and the original volatile structure was destroyed. On the whole, the short-term market may face the possibility of a reshuffle across the board, so it is more prudent to remain cautious and wait patiently for short-term risks to be fully released.

Market outlook analysis

Today, the market fell into differentiation again, the Shanghai Composite Index hit the 5-day line and then fell under pressure, and the volume of the two cities shrank slightly again, and the short-term is still in a weak finishing structure. From the perspective of the disk, in addition to the power and power grid directions, the continuity of most hot spots is relatively poor, among which the popularity of real estate, AI and other directions have suffered significant adjustments, and short-term speculation continues to be sluggish. On the whole, the current market urgently needs a large-scale long-term red to rebuild market confidence, and before that, funds may pour into the following two directions: 1) dividends represented by electricity and coal as the defensive direction, and 2) huddle in individual core high standards.

As power stocks have come out of a certain continuity, the short-term sentiment indicator has improved slightly compared with yesterday, but it is still volatile and falling below the 0 axis.

Market news focus

1. China Academy of Information and Communications Technology: In April, the domestic market shipped 24.071 million mobile phones, a year-on-year increase of 28.8%

Finance Associated Press reported on May 28 that data from the China Academy of Information and Communications Technology showed that in April 2024, 24.071 million mobile phones were shipped in the domestic market, a year-on-year increase of 28.8%, of which 20.232 million 5G mobile phones were shipped, a year-on-year increase of 52.2%, accounting for 84.1% of mobile phone shipments in the same period. In April 2024, smartphone shipments reached 22.668 million units, a year-on-year increase of 25.5%, accounting for 94.2% of mobile phone shipments in the same period. From January to April 2024, 91.486 million mobile phones were shipped in the domestic market, a year-on-year increase of 12.3%, of which 76.665 million 5G mobile phones were shipped, a year-on-year increase of 18.3%, accounting for 83.8% of mobile phone shipments in the same period.

2. The State Administration of Financial Supervision: It is necessary to promote a virtuous cycle of finance and real estate and further play the role of the coordination mechanism for urban real estate financing

On May 28, the Financial Associated Press reported that the State Administration of Financial Supervision held a meeting of the Party Committee on the afternoon of the 27th to convey and study the spirit of the meeting of the Political Bureau of the CPC Central Committee, and to study and deploy the implementation measures of the "Provisions on Accountability for the Prevention and Resolution of Financial Risks (Trial)". The meeting stressed that preventing and defusing financial risks, especially preventing the occurrence of systemic financial risks, is the fundamental task of financial work. It is necessary to thoroughly implement the arrangements of the Central Financial Work Conference and firmly adhere to the bottom line of no systemic financial risks. It is necessary to make every effort to promote the reform of small and medium-sized financial institutions to reduce risks, adapt measures to local conditions, implement policies according to different categories, and carry out work in a planned and step-by-step manner. It is necessary to promote a virtuous cycle of finance and real estate, further give play to the role of the coordination mechanism of urban real estate financing, meet the reasonable financing needs of real estate projects, and vigorously support the construction of "three major projects" such as affordable housing. It is necessary to cooperate with the prevention and resolution of local debt risks, and guide financial institutions to carry out debt restructuring and replacement in a market-oriented manner.

(Finance Associated Press, Fenglin)

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