A50 straight up! The market value of 2 trillion yuan "Cosmic Travel" hit a new high in 6 years, and Moutai once soared by 4%! What signal?

National Business Daily

2024-07-02 13:27The official account of National Business Daily

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01 The A-share market fluctuated and diverged in early trading, the Shanghai Composite Index was strong, the ChiNext Index was adjusted again, software stocks collectively rose, and the digital direction of finance and taxation led the rise.

The Industrial and Commercial Bank of China, the "Universe Bank" with a market value of 022 trillion yuan, has hit a new high in more than 6 years, and has risen by more than 23% since the beginning of this year.

03 The banking sector continued to hit new highs, and as of midday, the bank stock index surged 1.37%, hitting another record high.

04 In addition, the A50 constituent sector performed well, Kweichow Moutai once soared 4%, and Ping An of China and China Merchants Bank rose sharply across the board.

05 The central bank announced that it will carry out treasury bond borrowing operations for some primary dealers in the open market, and market analysts believe that if the follow-up can continue to see signs of economic improvement, the market may be another scene.

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Edited by: Du Yu

On July 2, the A-share market fluctuated and diverged in early trading, with the Shanghai Composite Index being strong and the ChiNext Index adjusting again. On the disk, software stocks collectively rose sharply, led by the direction of finance and taxation digitalization, and more than 10 shares such as Watertek Information, Digital Certification, Pulian Software, and Tax Friends Shares rose to the limit.

As of midday, the Shanghai Composite Index rose 0.04%, the Shenzhen Component Index fell 0.71%, and the ChiNext Index fell 0.69%.

The "universe line" with a market value of 2 trillion yuan hit a new high

Although the market is relatively flat, the banking sector continues to hit new highs, and the bank stock index rose 1.37% in the morning to hit another record high. Since the beginning of this year, the index has risen more than 23%.

Shanghai Pudong Development Bank rose 2.54%, Industrial and Commercial Bank of China and China Merchants Bank also rose more than 1.8%, and China CITIC Bank, Bank of Suzhou, Zijin Bank, and Everbright Bank rose more than 1.5%.

The share price of ICBC, the "Universe Bank", which has a market value of more than 2 trillion yuan, hit a new high in more than six years.

According to China Fund News, some market participants said that the rise in bank stocks reflects the pursuit of funds for the concept of high dividends and high dividends. And in July, bank stocks ushered in an intensive implementation period of annual dividends in 2023.

According to the information that has been disclosed so far, the four state-owned banks of Industrial and Commercial Bank of China, Bank of China, China Construction Bank and Bank of Communications will pay dividends in July, with a total dividend scale of more than 300 billion yuan. Qingnong Commercial Bank, Qilu Bank, Bank of Wuxi, Bank of Chengdu, etc. will also pay dividends in July.

ICBC disclosed that the record date of A shares and H shares is July 15, the dividend date of A shares is July 16, and the dividend date of H shares is August 19. According to ICBC's profit distribution plan, the bank will distribute RMB 3.064 (tax included) for every 10 shares, with a total cash dividend of RMB 109.203 billion to ordinary shares.

On the evening of July 1, China CITIC Bank announced that it intends to implement interim dividends in 2024, becoming the second listed bank to announce interim dividends after Minsheng Bank.

A50 suddenly pulled!

The A50 constituent sectors performed well, with the "stock king" Kweichow Moutai soaring 4%, and Ping An of China and China Merchants Bank rising sharply across the board.

The A50 futures index rose in a straight line.

On the afternoon of July 1, the central bank announced that in order to maintain the stable operation of the bond market, on the basis of prudent observation and evaluation of the current market situation, it decided to carry out treasury bond borrowing operations for some primary dealers in the open market in the near future.

Will the market stabilize? According to the brokerage China, analysts believe that if the follow-up can continue to see good economic signals, the market may be a different scene. For example, in real estate, in June 2024, the monthly sales amount of the top 100 real estate companies (the company's comparable caliber) increased by 22.4% month-on-month, down 22.1% year-on-year, and the decline rate was 11.8 percentage points narrower than that in May, and the cumulative sales amount in 1~month decreased by 38.9% year-on-year, and the decline rate was 5.6 percentage points narrower than that from January to May. After the new deal (calculated according to the lag of one week in online signing, 5.24~6.27), the average daily transaction area of new houses in 54 cities and second-hand houses in 26 cities increased by 22% and decreased by 4% respectively compared with the average daily increase in April, and increased by 1% and 9% respectively compared with the average daily growth in March. Since May 17, real estate sales have shown signs of recovery. If this sign persists for a few months, the market's expectations will inevitably change.

In addition, the market has high hopes for reform. The Political Bureau of the Central Committee of the Communist Party of China (CPC) held a meeting on June 27 to study the issue of further deepening reform in an all-round way and promoting Chinese-style modernization. The meeting decided that the Third Plenary Session of the 20th Central Committee of the Communist Party of China will be held in Beijing from 15 to 18 July. CICC believes that the recent market attention on promoting high-level opening-up, supporting the development of private enterprises, fiscal and taxation system reform, power system reform, and capital market system improvement is relatively high, and related fields are expected to benefit from the expected boost.

National Business Daily, comprehensive brokerage China, China Fund News, market public information

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