A-share half year closed, Shanghai Composite Index fell 0.25% half year, low-altitude economy, banking and other sectors performed well丨 A week of market observation

Cover News

2024-07-01 08:04Cover News Official Account

Cover News Reporter Zhu Ning

The first half of 2024 has quietly passed in A-shares, and looking back at the market in the first half of the year, some hot sectors have been active.

Judging from the data, the total turnover of the two cities reached 100.17 trillion yuan, a decrease of 10.93 trillion yuan from the same period in 2023 (111.1 trillion yuan), a year-on-year decrease of 9.83%. In terms of index performance, in the first half of 2024, the Shanghai Composite Index closed at 2,967.40 points, down 0.25% in the first half of the year, with a minimum of 2,635.09 points and a high of 3,174.27 points, the Shenzhen Component Index closed at 8,848.70 points, down 7.10%, with a minimum of 7,683.63 points and a high of 9,805.92 points, and the ChiNext Index closed at 1,683.43 points, down 10.99%, with a minimum of 1,482.99 points and a high of 1,926.40 points.

ChiNext Index

The low-altitude economic trend is bright

The power sector of banks makes money "in a low-key" manner

In terms of specific concepts, the low-altitude economy is undoubtedly the hottest theme concept in the first half of this year. Since the National People's Congress and the National People's Congress wrote the low-altitude economy into the government work report, the provincial, municipal and local governments have intensively introduced relevant policies to seize the development opportunities of the low-altitude economy, rapidly promote the deep integration and coordinated development of the relevant industrial chains, and accelerate the implementation of the low-altitude economic industry. According to the "National Three-dimensional Transportation Network Planning Outline", the industrial scale of China's low-altitude economy will reach 6 trillion yuan by 2035, with a compound annual growth rate of 7.6%.

In terms of market trends, it first came out of a comprehensive round of main rising market from February to March, and then experienced a period of correction and correction, and once again ushered in a second wave of speculation in mid-April. Among them, Wanfeng Aowei rose more than 4 times in the first half of the year, and popular stocks such as Rice Information, CITIC Haizhi, and Jindun also rose by more than 200%.

SZSE Component Index trend

In addition, with the low-altitude economic bidding in various places in the past three months is also in full swing, the expectation of policy transmission to orders is constantly strengthening. In the second half of the year, the low-altitude economy is expected to shift from the previous conceptual hype to the fundamental rise of orders. In the future, we can still pay attention to the direction of the industrial trend landing rhythm in the main links of the low-altitude economy, such as the whole machine and parts, planning and design, management system, and operation.

In addition, if only from the perspective of single-day gains, the banking sector is easy to be ignored by the market, but in fact, bank stocks are one of the best directions for the sector effect in the first half of the year, with an overall increase of nearly 20%.

The power sector also performed well in the first half of the year. In the context of the overall weak index environment, it has stepped out of an independent trend market. And most of the stocks that led the rise are large market capitalization weights, among which the benchmark stocks Yangtze River Power rose by more than 20%, with a total market value of more than 700 billion, while China General Nuclear Power, Guodian Power, SDIC Power, China Nuclear Power and other stocks with a market value of 100 billion also rose by more than 30% in the first half of this year.

From this year's individual stock gains, excluding this year's listed new shares, Zhengdan shares rose more than 3 times in the first half of the year, the largest annual increase in stocks, Zhengdan shares rose mainly because of its main product trimellitic anhydride product market price increase. In addition, a number of low-altitude economic concept stocks on the list, Wanfeng Aowei rose 176%, the second largest stock of the year, Jindun shares rose more than 95%, and CITIC Sea rose more than 86%. Among the other stocks on the list, Xin Yisheng rose 114% in the first half of the year and is a CPO concept stock. Wall Nuclear Materials rose 91% in the first half of the year, and it is a high-speed copper cable connection concept stock. Shantui shares are stocks in the construction machinery sector, and Xinji Energy is a stock in the coal sector.

The outlook for A-shares is slightly divergent

"The reason why the low-altitude economy is so hot is due to the strong support of national policies on the one hand, and the continuous growth of market demand on the other hand." Some industry analysts told reporters that whether it is urban air mobility, emergency rescue, or agricultural plant protection, environmental monitoring, the low-altitude economy has shown broad application prospects and huge economic value. In the future, with the continuous progress of technology and the continuous expansion of the market, the low-altitude economy is expected to usher in a broader development prospect, and related enterprises will inevitably benefit.

The Shanghai Composite Index trend

For the rise of sectors such as banks, the analyst said that the equity market will be volatile in 2024, investors' risk appetite will be lower, and funds will seek more certain returns. The high dividend yields and very low valuations of bank stocks have become the preferred choice for funds, thus boosting the market performance of the entire banking sector.

"At present, the A-share market has gone through a wave of rapid downturn, which has fully released risks. Market confidence has been affected in the short term. Yang Delong, chief economist of Qianhai Open Source Fund, told reporters that if at present, there are more favorable policies to promote everyone to improve their expectations for the future, especially for economic growth expectations, and at the same time the national team can increase efforts to enter the market and reverse the postponement of the market, I believe that the A-share market in the second half of the year still has a greater probability of going out of the upward market, bringing opportunities to make money.

Kaiyuan Securities expects the Shanghai Composite Index to rise slightly for the rest of 2024; Guohai Securities believes that a new round of reform measures will enhance risk appetite. However, some brokerages are more pessimistic about the future trend of 9, and Cinda Securities believes that the next 2 months may be volatile and resting; Guojin Securities believes that the volatility of the A-share market will rise with a high probability, and there is even the possibility of a "double bottom".

View original image 95K

• 

• 

•