Today's index rose and fell, the three major stock indexes all rose more than 1% in early trading, and fell significantly in the afternoon, the Shanghai Composite Index narrowed, the Shenzhen Component Index turned green, and the ChiNext Index fell more than 1%. More than 3,000 shares in Shanghai, Shenzhen and Beijing are red, with a turnover of 705.9 billion yuan today. The Shanghai Composite Index rose 0.73%, the Shenzhen Component Index fell 0.01%, and the ChiNext Index fell 1.16%.
In the first half of the year, the per capita loss was about 12,600 yuan, and the CSI 2000 index fell 23%
A-shares ended the half-year today, with the median A-share price down 23.65%. At the beginning of the year, the total market value of A-shares was 83.71 trillion yuan, and as of June 28, it closed at 80.95 trillion yuan, and the per capita loss in the first half of the year was about 12,600 yuan according to the calculation of 220 million shareholders. Excluding new stocks listed in 2024, in the first half of 2024, 795 listed companies rose, 4,524 shares fell, more than 273 shares fell by more than 50%, and 2,830 stocks fell between 20% and 50%, accounting for 53.21%.
Judging from the market performance in the first half of the year, the performance of several major indexes was differentiated, among which the Shanghai Composite Index fell 0.25%, the weight represented the Shanghai 50 and CSI 300 Indexes closed up, the ChiNext Index fell more than 10%, the CSI 2000 Index fell 23%, the Beijing Stock Exchange 50 Index fell more than 30%, and the Flush ST sector fell more than 55%.
In the first half of the year, high-dividend stocks such as banks rose sharply
From the perspective of industries, most industries fell, Shenwan first-class industry banks, coal, public utilities and other 8 high-interest sectors rose, the banking sector rose 16.5%, and the Industrial and Commercial Bank of China and the Agricultural Bank of China hit new highs this year. Since the beginning of this year, the government has repeatedly advocated that listed companies pay dividends to investors, and in the context of poor performance expectations in most industries this year, this year has continued to receive funds in depth, and a large number of high-dividend stocks such as China Shenhua, Industrial and Commercial Bank of China, and Yangtze River Power have hit a record high during the year. Computer, media, medicine and other sectors led the decline, falling by more than 20%.
In the first half of the year, the top ten bull stocks were released: Zhengdan shares rose more than 3 times
In the first half of the year, high-dividend blue-chip stocks performed strongly, with many stocks such as Yangtze Power and CNOOC hitting record highs; Low-altitude economy and other hot topics were once active. Except for the new shares listed in 2024, only 5 shares rose by more than 100% in the first half of the year. TMA leader Zhengdan shares rose 373% to lead the gains, and low-altitude economic leader Wanfeng Aowei rose 176%, the second largest stock of the year. The optical module leader Xinyisheng rose 114%. Copper cable high-speed connection concept stock Wall Nuclear Materials rose 91% in the first half of the year, delisted stocks and ST shares fell sharply, and many stocks fell by more than 80%.
Brokerage: The market is expected to usher in a period of restorative recovery in the second half of the year
Looking ahead, Huatai Securities believes that under the guidance of capital, valuation and policy, the "seven turnaround" market may still be expected. CITIC Securities also believes that with the convening of important meetings in July, the market is expected to usher in further clarification of policy expectations, which will support market risk appetite, and it is expected that A-shares will usher in the starting point of the annual rise, especially when policy signals, price signals and external signals are verified in the third quarter, the market is expected to directly start the rising market.
Galaxy Securities said that in the second half of the year, the macroeconomic repair is expected to continue to rise, and the performance of A-shares is expected to stabilize and rebound. At present, the valuation of A-shares is at a historically low level, and the improvement in fundamentals has led to a rebound in investors' risk appetite.
Soochow Securities believes that the key to obtaining excess returns in the second half of the year lies in the grasp of style, and the growth style is expected to rise, especially optimistic about the growth of science and technology. Looking ahead to the second half of the year, the convergence of the nominal growth rate gap between China and the United States is expected to lead to a narrowing of the interest rate gap between China and the United States, which will become the core factor in the recovery of China's asset prices. It is recommended to pay attention to: advantageous manufacturing, cutting-edge emerging industries and future industries, and digital economy. Focus on semiconductors, autonomous driving, information innovation, low-altitude economy and other tracks.
Dongguan Securities Research Report said that the domestic economy operated steadily in the first half of the year, and follow-up policy support is expected to continue to increase, especially the issuance of treasury bonds, equipment renovation and consumer goods trade-in, as well as the adjustment and optimization of real estate policies will promote the economy to stabilize in the second half of the year. Under the guidance of the new "National Nine Articles" policy, the capital market will usher in the deepening of reform, and the results of reform are expected to be gradually realized in the second half of the year. At present, market valuations are still at a relatively low historical level, and the fundamental factors that suppressed the market in the first half of the year may improve moderately in the second half of the year, and market confidence will gradually recover. With the gradual stabilization of economic fundamentals and the continuous promotion of capital market policies, the market is expected to usher in a continuous recovery pattern in the second half of 2024.
Source: NetEase Finance