freetostartcryptogames| The three major A-share indexes closed up: Shanghai Composite Index rose more than 1% and lithography machine concept stocks broke out

The three major A-share indexes closed higher today.FreetostartcryptogamesThe Prev index is up 1.Freetostartcryptogames.14% recovered 3100 points to close at 3124FreetostartcryptogamesAt 04:00, the Shenzhen Composite Index rose 0.88% to close at 9507.75 points, and the gem index rose 0.68% to close at 1830.96 points. Today's turnover on the Shanghai and Shenzhen stock markets was 774.8 billion, an increase of 10.9 billion over the previous trading day.

The industry sector rose more and fell less, lithography concept stocks broke out, electronic chemicals, semiconductors, power grid equipment, shipping ports, logistics industry led the increase, photovoltaic equipment, agriculture, animal husbandry, fishing, aerospace and aviation sector led the decline. In terms of individual stocks, the number of stocks rose to nearly 3400. The power industry chain continues to be strong, with virtual power plants leading the way, Zhong Zhi Technology, Guodian Nanzi, Hengshi Technology, Chendian International and Xinzhonggang trading limit. Cross-border e-commerce concept rose in early trading, Kaichun shares, cross-border access (rights protection), sea Bonda, Passepartout, League of Nations shares (rights protection) limit. High dividend stocks such as coal are strong, and shares in Shanxi controlled coal and Pingping coal have risen by more than 5%. The semiconductor industry chain broke out collectively in the afternoon, in which lithography machine and photoresist led the rise, including large photosensitivity, blue British equipment, new materials, Dongfang Jiasheng, Tongcheng new materials and so on. In terms of decline, the photovoltaic concept began to adjust, Touri Xineng, Tian Chen shares fell by the limit, King Kong photovoltaic fell by more than 10%.

Today's important news

On May 24th, the third phase of the National Integrated Circuit Industry Investment Fund Co., Ltd. was established, with legal representative Zhang Xin, registered capital of 344 billion yuan, business scope for private equity fund management, venture capital fund management services, private equity funds engaged in equity investment, investment management, asset management and other activities, enterprise management consulting.

From January to April, the total profits of industrial enterprises above the national scale reached 2.09469 trillion yuan, an increase of 4.3 percent over the same period last year. From January to April, among industrial enterprises above scale, the total profits of state-controlled enterprises totaled 739.64 billion yuan, down 2.8 percent from the same period last year; joint-stock enterprises made 1.55081 trillion yuan, up 0.9 percent; foreign investors and enterprises invested in Hong Kong, Macao and Taiwan made a total profit of 528.59 billion yuan, up 16.7 percent; and private enterprises realized 544.8 billion yuan, an increase of 6.4 percent.

On May 24, the CSRC formally promulgated the interim measures for the Administration of the reduction of shares held by shareholders of listed companies and the rules for the Management of shares and their changes held by Directors, Supervisors and Senior managers of listed companies, and the two rules shall enter into force as of the date of promulgation. The above "management measures for shareholding reduction" and "shareholding change rules" have been called by many people in the industry as "the strictest new rules for shareholding reduction in history". Some brokerage analysts believe that the new rules for the reduction of holdings have been issued in the form of regulations for the first time, and the legal rank has been significantly raised. In addition, the formal draft of the new rules on stock reduction has been adopted to be more detailed and stringent.FreetostartcryptogamesThe regulatory measures will block the space for reduction and arbitrage and help to build a healthy ecology of the A-share market.

Recently, the executive meeting of the State Council examined and approved the opinions on expanding the export of cross-border e-commerce and promoting the construction of overseas warehouses. The meeting made it clear that it is necessary to actively cultivate cross-border e-commerce operators, encourage local governments to support traditional foreign trade enterprises to develop cross-border e-commerce based on their unique advantages, strengthen the training of cross-border e-commerce personnel, provide enterprises with more display and docking platforms, and continue to promote brand building. Industry insiders believe that the adoption of the "opinion" is of positive significance for strengthening the construction of overseas warehouses, optimizing the layout of overseas warehouses, and supporting the upgrading of processing trade. According to the unanimous forecast of more than five institutions, the net profit growth rate of Huatu Shanding, Langzi shares, Huakai Yibai, Saiwei Times, Jihong shares, Chao Acer and focus Technology is expected to exceed 20% this year and next.

According to the State data Bureau on May 26, driven by the State data Bureau, on May 24, at the main forum of the Digital China Construction Summit, 24 data trading institutions jointly issued the "Mutual recognition and Interoperability Initiative of data Trading institutions". The aim is to improve data circulation and transaction efficiency, reduce compliance circulation and transaction costs, and stimulate the vitality of the data element market.

Institutional viewpoint

Citic Securities: the steady upward trend will continue, with a layout around three major themes

The market enters the stock state, the global capital rebalance impulse to cool down, based on the expected repair of the market is over, the reality gradually verified, the steady upward trend will continue, the configuration suggested to continue to focus on high-performance growth, low-wave dividends and active theme layout, reduce the rotation game. On the one hand, the liquidity situation of the market no longer supports the market driven by purely expected repair, the room for further expansion of active private equity is limited, ETF continues to show a small outflow, overseas risky assets are being repaired, and the impulse of global capital rebalancing is cooling. On the other hand, the market turns to a steady upward trend driven by the gradual improvement of policies, fundamentals and risk preference, and the verification of four factors is very important: first, the effect of the real estate policy shift and subsequent further policy responses need to be verified; second, the industrial policy aimed at optimizing the supply side needs time to gradually take effect, and third, the introduction of the reform guidelines of the third Plenary session of the CPC Central Committee is worth looking forward to. Fourth, the influence of complex geo-environment on market risk preference needs to be digested.

Citic Construction Investment: strategically optimistic about A shares

After the landing of the real estate policy, we suggest that tactically, we should stop as soon as possible, and the market adjusted as scheduled last week. In the near future, the expectation of the Federal Reserve to cut interest rates continued to move backward, and the pressure on the exchange rate increased. China issued special treasury bonds, but the expectations of the previous market to cut reserve requirements and interest rates were not fulfilled and the net investment did not appear. A-share reduction of new rules on the ground, while the recent IPO audit restart, broad-based ETF showed outflow, micro-liquidity marginal contraction. The export boom is still there, and the repair of domestic demand remains to be seen. We believe that strategically we can still be optimistic about A-shares, tactically short-term defense-oriented, waiting patiently. The configuration is still configured with a dividend bottom position, while focusing on industries with independent fundamental logic. Focus on the direction and related ETF: pay attention to dividends, electric power, aquaculture, non-ferrous, construction machinery and so on.

China International Capital Corporation: the index is expected to rise again after adjustment

Combined with the current market environment, the implementation of stable growth policies may be the key to subsequent market directional choices. Subsequent policies and reforms at the economic level in my country are expected to continue to increase, and drive investors 'expectations to continue to repair. The recent phased adjustment of the A-share market does not mean that the repair market since February is over. After adjustment, the main index is expected to regain its momentum. Although the current market valuation has been repaired, the forward P/E ratio of the Shanghai and Shenzhen 300 Index is only 10.5 times, which is still far from the historical average (the average in the past ten years is about 12.6 times), and the marginal repair of profit expectations after the first quarter also contributes to the performance of the market outlook index. In terms of allocation, there are still opportunities for allocation in export chain industries and globally priced resource products against the background of better external demand; some price-increasing sectors such as utilities have attracted increased market attention; green sectors such as new energy focus on recent marginal changes in industrial policies, which will help reverse investor expectations.

Guotai Junan: Investment opportunities are in the middle of the year, dare to reverse layout

After winter, spring is still there. The apparent reason for the stock market's correction last week was that the market's concerns about geopolitical risks increased. We believe that although the external geography remains severe, the market has not expected too much in the past two to three years. More importantly, we should note that internal uncertainty in the economy and society is declining, which is the core factor driving this round of market conditions. Unlike most prudent consensus, we believe that expectations will no longer be revised downwards and uncertainty will decrease, which is the key driving force for China's stock market to rise. Although there is still behavioral and thinking inertia despite the huge uncertainties in the past, it is manifested in weak data and stock market volatility. However, the marginal combination of stable RMB value + strong domestic demand policy + rising reform expectations has made China's asset logic smoother. In the middle of the year, investment opportunities dared to reverse layout, and the stock market fluctuated and rose.