On October 10, popular Chinese concept stocks rose, with the Nasdaq China Golden Dragon Index up 0.3% and the A50 Index up 0.6%.
Source: Wind
iShares MSCI中国ETF上涨0.74%;三倍做多富时中国的Direxion ETF(代码:YINN)尾盘涨幅收窄,收盘涨3.34%。
Source: Wind
Source: Wind
FTSE China A50 Index futures closed up 0.66% at 13,975 points in overnight trading.
Source: Wind
On October 10, the three major indexes of Hong Kong stocks rose in early trading, and the Hang Seng Index rose by more than 4.7% at one point. The Hang Seng Index closed up 2.98% at 21,251.98, the Hang Seng Tech Index rose 2.05% to 4,736.1 and the Hang Seng China Enterprises Index rose 3.46% to 7,620.74. Hong Kong stocks were closed on Friday due to the Chung Yeung Festival, with the Hang Seng Index down 6.53% for the week and the Hang Seng Tech Index down 9.39% for the week.
On October 10, the three major A-share indexes diverged, with the Shanghai Composite Index falling back to close up 1.32% at the end of the session, and the Shuangchuang Index falling sharply. In the three trading days after the holiday, Wind All A fell by 0.7%, the rise of the Science and Technology Innovation 50 and ChiNext Indices narrowed to 9.38% and 1.74%, and the CSI dividend fell by 3.88%.
In the past three trading days, eight industries, including electronics, national defense and military industry, computers, communications, building decoration, household appliances, banking and non-bank finance, have generally risen; Most industries such as real estate, food and beverage, light manufacturing, and transportation have fallen into adjustment.
Fidelity International believes that the attractiveness of China A-shares will continue. First of all, the valuation of the Chinese market is still in the historically low range, which is lower than the valuation level of most major markets in the world, and a large amount of funds from international investors in Asia, the Americas, Europe and other countries may need to be rebalanced in the future, which is expected to further boost the performance of the A-share market. Second, the resilience of China's economy should not be underestimated, and China has become a global leader in many fields such as green technology, digital economy and high-end manufacturing, while maintaining stable economic fundamentals. Finally, the Chinese government's determination to stabilize growth and stimulate the economy is clear, and the "three-step" strategic path is clear.
In the view of Zhou Wenqun of Fidelity Fund, with the synergy of monetary policy and fiscal policy, the policy will gradually take effect. With China's economic fundamentals improving and valuations remaining attractive, now is a good time for global investors to refocus on the Chinese market. Macrologically sensitive sectors such as consumption and domestic cyclical sectors are likely to outperform.
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