The six heavyweight stocks of the four major banks fell sharply, and the small and medium-sized market capitalization stocks rebounded in a large area
Today's news:
The three major U.S. stock indexes closed mixed, with the Dow up 0.2%, the S&P 500 down 0.51%, and the Nasdaq down 0.93%. Most of the large technology stocks fell, Google fell more than 3%, Microsoft fell more than 2%, Meta, Nvidia fell more than 1%, Apple, Netflix, Amazon fell slightly; Tesla rose about 2%.
Fang Lei, head of the Science and Technology Innovation Bureau of the State-owned Assets Supervision and Administration Commission of the State Council, said at the press conference of the State Council Information Office on the 26th that in the next step, the State-owned Assets Supervision and Administration Commission of the State Council will accelerate the development of the artificial intelligence industry driven by application demonstration, and the central enterprises also have the confidence, determination and ability to seize strategic opportunities and join hands with all parties to accelerate the supply of intelligent computing resources. The transformer of application scenarios and the cultivator of industrial ecology. The first is to dig deep into high-value scenarios and fully open them, carry out collaborative cooperation between supply and demand, and form a number of industry application demonstration benchmarks. The second is to explore the standard system and construction path of high-quality datasets, and build high-quality datasets for key industries in batches. The third is to promote the construction of intelligent computing centers and computing power scheduling and operation platforms in an orderly manner, strengthen the supply of intelligent computing capabilities, and better serve small and medium-sized enterprises. Fourth, we should focus on the frontier to improve the ability of basic large models, improve the evaluation system of large models, explore the establishment of a number of industrial development communities, and accelerate the promotion of external empowerment.
[State-owned Assets Supervision and Administration Commission: In the next five years, central enterprises are expected to arrange a total investment of more than 3 trillion yuan in large-scale equipment renovation] Liu Shaowei, head of the Financial Supervision and Operation Evaluation Bureau of the State-owned Assets Supervision and Administration Commission of the State Council, said at a press conference today that the next step will be to adhere to the principle of being able to give and should be given, increase policy support for investors, and guide central enterprises to focus on the direction of a new round of technological revolution and industrial transformation, and play an exemplary and leading role in this round of large-scale equipment renewal. In the next five years, the central enterprises are expected to arrange large-scale equipment renovation with a total investment of more than 3 trillion yuan. At the same time, we require the central enterprises to treat all kinds of enterprises equally when purchasing equipment, insist on buying the best technical level and the most cost-effective equipment, so that the equipment suppliers with excellent quality and price stand out.
[United States' GDP in the second quarter exceeded expectations, and the probability of the Fed cutting interest rates in September remained 100%] On the evening of July 25, Beijing time, the Bureau of Economic Analysis (BEA) of the United States Department of Commerce released data showing that the annualized quarterly preliminary value of real GDP in the second quarter of United States was 2.8%, exceeding the expected 2%, far exceeding the previous value of 1.4%; The core PCE price index in United States for the second quarter came in at 2.9% on an annualized basis, exceeding expectations of 2.7% and slowing significantly from the previous value of 3.7%. Agency analysis believes that the GDP and PCE price index in the second quarter of this year show that the United States economy is expected to achieve a "soft landing", that is, inflation is steadily cooling while economic growth is stable. This is good news for the Federal Reserve, which is working to achieve a soft landing for the economy and could start cutting interest rates as early as September.
[The central bank carried out a 7-day reverse repurchase operation of 358.05 billion yuan today] The central bank carried out a 7-day reverse repurchase operation of 358.05 billion yuan today, and the winning interest rate was 1.70%, the same as before. Due to the expiration of 59 billion yuan of 7-day reverse repurchase today, a net investment of 299.05 billion yuan was realized.
As of July 25, the financing balance of the Shanghai Stock Exchange was 740.079 billion yuan, an increase of 94 million yuan from the previous trading day, the financing balance of the Shenzhen Stock Exchange was 668.037 billion yuan, a decrease of 271 million yuan from the previous trading day, and the total of the two cities was 1408.116 billion yuan, a decrease of 177 million yuan from the previous trading day.
[Northbound funds sold 6.582 billion yuan yesterday, Kweichow Moutai was net sold 846 million yuan] Northbound funds sold 6.582 billion yuan yesterday. Kweichow Moutai, CATL, and Industrial and Commercial Bank of China were net sold 846 million yuan, 644 million yuan, and 333 million yuan respectively. Zijin Mining was the largest net buyer, with an amount of 546 million yuan.
This morning, the market opened flat at 2,886 points, rose 2,899 points, bottomed out at 2,875 points, and closed at 2,881 points before noon. The SSE 50 and the Shanghai Composite Index fell 0.98% and 0.19%, while the CSI 300, the Shenzhen Component Index, ChiNext, the Science and Technology Innovation Board, the CSI 500 and the CSI 1000 rose 0.00%, 1.28%, 0.99%, 0.85%, 1.36% and 1.36%. The ratio of individual stocks is 4434:780, and the ratio of price limit is 56:5. The half-day turnover of the two cities was 394.4 billion, an increase of 4.7 billion from the previous trading day.
Since the beginning of this year, the national team has bought a large number of four major bank stocks, four major ETFs and five major heavyweight stocks, resulting in serious distortion of the broader market index. If you deduct the 30% increase of the four major banks and the increase of more than 30% of the five major weighted stocks, the current index of 2881 points, most of the small and medium-sized market capitalization stock prices are not only lower than the 2635 points in early February, but many stocks are even equivalent to only 2000 points. This is the negative effect of the national team on the market by protecting large-cap stocks and large-cap indexes and maintaining the "stability" of the market. It only protects the index and whitewashes the peace, but it hurts the interests of the majority of investors, especially small and medium-sized investors.
In this sense, the so-called 3174 points on May 20 broke through the annual line, as well as the so-called 3000 points and 2900 points defense battles, are of little practical significance. As a result of the broader market index, a few hundred shares rose and more than 4,000 shares fell.
Fortunately, in the past two days, the actions of the national team have changed. Bank stocks fell yesterday morning, the three major indexes fell, and also hit a new low of 2,872 points, but more than 4,300 shares rose, closing nearly 4,000 shares higher.
The change was more obvious this morning, with the four major bank stocks falling 2.54%-3.14%, the five major heavyweights falling 1.2%-4.27%, the CSI 50, the Shanghai 50, and the Shanghai Composite Index falling, and the Shanghai Composite Index bottoming out again at 2,875 points. However, small and medium-capitalization stocks, especially new productivity technology stocks, have rebounded in a large area, and even risen sharply, with more than 4,400 shares rising. If it weren't for the decline of the big four banks and the heavyweights, the real index would have regained 2,900 points.
In the morning, the national team still used the CSI 300 ETF to control the volatility of the broader market index, forcibly suppressing the market around 2880 points. This suggests that the market as a whole has been waiting for the big four banks and weights to dive and then start to do a rally. In particular, yesterday's "interest rate cut" by the six major banks, the yuan jumped sharply by 800 basis points. If it was in previous years, this was a substantial big positive, and it was not too much to pull the long white line. It is only because the overdrafts of the four major banks and the five major heavyweight stocks have risen and repeatedly hit record highs, which not only seized a large amount of institutional funds, but also cast a psychological shadow on investors on the impact of the decline of large-cap stocks on the index.
This has created a new pattern in the near future, with the four major banks and heavyweight stocks gradually discounting their weights and slowly declining, making it difficult for several large-cap indices to make a difference. Not only will it be difficult to return to 2,900 points, but it will also be possible to break through 2,872 points and retreat to the second line of defense around 2,860 points. In extreme cases, it may retreat to the position of the new village chief at 2830 points. At that time, under the favorable policy and the re-exertion of the national team, there may be a more decent rebound.
Therefore, investors will outperform the market in the near future, focusing on the rebound of the large-cap index and the rebound of falling stocks, especially high-quality high-growth stocks with new quality productivity.
Afternoon attention: Can the market close at 2872 points below? Can the upper side close above 2890? 4434:780 The disparity between individual stocks can be maintained and expanded? Can the trading volume rise back to more than 600 billion?