On September 25, the three major A-share indexes rose and fell, with the Shanghai Composite Index up 1.16%, the Shenzhen Component Index up 1.21%, the ChiNext Index up 1.62%, and the Beijing Stock Exchange 50 Index up 1.21%, with a market turnover of more than 1.16 trillion yuan. More than 4,100 stocks rose in the two cities.
On the disk, the concept of big finance led the rise throughout the day, with more than 10 shares such as Tianfeng Securities, Guohai Securities, Yinzhijie, Minmetals Capital, Xinli Financial, Haide Shares, COFCO Capital, Aijian Group, and Haide Shares. The media sector is among the top gainers, and it is worth buying, Fushi Holdings, Zhongguang Tianxue, TV and Radio Media, and Huawen Group. Broken net stocks fluctuated and strengthened, and many stocks such as Haixin Energy, Zhongnan Shares, Yatai Group, and Financial Street rose to the limit.
Analysts believe that the press conference of the State Council Information Office announced a package of financial support for entity policies, and the intention of boosting market confidence is obvious. Market risk appetite is expected to continue to improve significantly, and a short- to medium-term rebound in A-shares may come.
Big finance led the gains
The concept of big finance led the rise throughout the day, with more than 10 shares including Tianfeng Securities, Guohai Securities, Yinzhijie, Minmetals Capital, Xinli Financial, Haide Shares, COFCO Capital, Aijian Group, and Haide Shares.
On the news, on September 24, Pan Gongsheng, governor of the People's Bank of China, Li Yunze, director of the State Administration of Financial Supervision and Administration, and Wu Qing, chairman of the China Securities Regulatory Commission, introduced the relevant situation of financial support for high-quality economic development at a press conference of the State Council, mentioning a number of heavy favorable policies.
On the same day, the China Securities Regulatory Commission issued the "Opinions on Deepening the Reform of the M&A and Restructuring Market of Listed Companies", which mentioned that securities companies should be guided to increase investment in financial advisory business, give full play to the role of transaction matchmaking, and actively promote M&A and restructuring transactions. Support listed securities companies to enhance their core competitiveness through mergers and acquisitions, and accelerate the construction of first-class investment banks.
The sharp rise in the large financial sector is related to the continuous improvement of the market environment and the accelerated return of incremental funds. Guo Shiliang, an independent financial commentator, said in an interview with this reporter that the large financial sector gathers market sentiment and market funds, and stocks with low valuations and high dividends are more likely to be sought after by market funds.
Looking ahead, "it is necessary to observe the average daily trading performance of A-shares, if the average daily turnover of A-shares reaches more than one trillion yuan, the market is still in a bull-dominated market." Guo Shiliang said.
CICC said that the current performance, valuation and holdings of the brokerage sector have been at the bottom, and the recent RRR and interest rate cuts have provided market liquidity, the creation of new policy tools to support the development of the stock market (such as securities, funds, insurance companies, swap facilities, stock repurchases, increased holdings and reloans, etc.), and the acceleration of mergers and acquisitions within the industry, focusing on M&A transaction sentiment, market improvement and rebound opportunities catalyzed by internal and external policies.
The media was among the top gainers
Broken net stocks fluctuated and strengthened, and many stocks such as Haixin Energy, Zhongnan Shares, Yatai Group, and Financial Street rose to the limit.
On the news side, on September 24, the China Securities Regulatory Commission solicited public opinions on the "Regulatory Guidelines for Listed Companies No. 10 - Market Value Management (Consultation Draft)", in which Article 9 requires that long-term broken companies should disclose the valuation improvement plan, including objectives, deadlines and specific measures, and make a special explanation on the implementation of the valuation improvement plan in the annual performance briefing.
The net failure ratio is one of the important indicators to observe in the A-share market. Caixin Securities believes that the current A-share cost performance is highlighted, and medium and long-term funds usher in a better allocation point.
The media sector is among the top gainers, and it is worth buying, Fushi Holdings, Zhongguang Tianxue, TV and Radio Media, and Huawen Group.
In terms of industry, during the Mid-Autumn Festival, the consumption of cinemas and cultural tourism continued to recover. According to Maoyan data, as of September 20, the box office in September exceeded 1 billion yuan. In 2024, the total number of Mid-Autumn Festival shows will exceed 1.356 million, and the total box office will exceed 383 million yuan, setting a new record for Mid-Autumn Festival shows in Chinese film history.
In addition, some high-level stocks fell, Datang Telecom and CCCC Real Estate staged a sky floor, and Baobian Electric fell to the limit.
Grasp the repair market
Today, the three major A-share indexes continued to rebound, and the Shanghai Composite Index once regained the 2,900-point integer mark intraday. Looking ahead, institutions are optimistic about the rebound of A-shares.
CITIC Securities believes that the press conference of the State Council Information Office of the three ministries and commissions of monetary policy and financial supervision announced a package of financial support entity policies, which has obvious intentions to boost market confidence. For banks, the adjustment of the interest rate of existing mortgage loans has a negative impact on the pricing of banks' assets, and it is clear that the subsequent decline in LPR and deposit interest rates will have a neutral impact on bank interest margins. Swap facilitation tools increase the financing facilities of non-bank institutions and target investment in the stock market, re-lending tools help listed companies buy back and increase their shareholdings, and index weighted stocks with good subject qualifications and liquidity have more room for practical operation, and listed banks are expected to directly benefit.
Founder Securities said that the current monetary policy first, fiscal policy will take over the baton, market risk appetite is expected to continue to improve significantly, superimposed incremental funds to reverse the situation of the capital stock game, it is recommended to open the bullish thinking, actively look for opportunities for the bottom layout, and grasp the repair of the market.
In terms of investment themes, Huajin Securities Research Report pointed out that the short-term rebound of A-shares may come. The financial real estate, technology and core asset sectors are expected to benefit.