In the first trading day of 2019, A-shares were doing bad, and the highest positions almost fell on the board. Of the top 50 companies in the total market capitalization of the two cities, only five companies have turned their shares. Strong 5G concept stocks continued strong yesterday, but they were unable to reverse the overall decline in the market. In the end, the Shanghai Composite Index fell 1.15% to 2465.29 points, the Shenzhen Composite index dropped 0.91% to 1256.39 points, while the SME Board and ChiNext Composite Index fell 0.88% and 0 , 95% respectively.
The general mood of the disk was weak, banks and insurance reserves remained weak, and the performance of related supplies in the Shanghai automotive and other manufacturing industries were not good. There were also pharmaceutical companies such as Kangmei Pharmaceutical, Jichuan Pharmaceutical, Huadong Medicine and Lepu Medical. Continue to plunge. Secondly, the consequences of a centralized drug procurement policy still exist. The second crisis of Kanmay Pharmaceuticals shook the confidence of some investors in other pharmaceuticals. Thirdly, it is threatened by the unfavorable rumors of "Minei Medical".
During the New Year's holiday, the official index of Purchasing Managers in China (PMI) for December 2018 was 49.4%, a record low since August 2016. In addition, the newly announced Caixin Manufacturing PMI from 2018 was 49.7%, the lowest since June 2017. This group of data completely suppresses industrial enterprises. Investors may be questioning the performance of the relevant reserves in the first quarter, so the purchase will be reduced and the pressure on sales will temporarily prevail.
In addition, the funds of the post-holiday market were unexpectedly tight. It is reasonable to say that the beginning of the funds from each month will usually be relatively loose, but the repurchase rate on yesterday's securities market is at a high level, and the price of national debt is once touched by 20%. I must say that this situation makes people feel a little surprised.
On the individual level of shares, Eastern Communications continued their daily limit for the third consecutive trading day, which also led to the rise of some 5G concept actions, such as Xintian Technology, Eastcom Peace, Nanjing Panda, Daian and Orvieto Communications. The 5G concept is a relatively large entity, as this is the leading field of technology in China, and the theme of market speculation naturally has its rationality.
In addition, when economic indicators fall, the difficulty of selecting stock exchanges increases, especially the suspicion of traditional blue chip actions. In this case, it is logical to choose some varieties that have great imagination in terms of performance. Taking into account the problem of "risk-benefit", 5G and other topics naturally become a good investment target.
Although the market is temporarily insufficient, this situation should not have much inertia. Investors may have shares for some time, and there is no need to panic because of a one-time decline. In my opinion, the tightness of the funds is a relatively easy problem to solve. Perhaps investors can see the activities undertaken by the relevant parties today. As for the relevant industrial reserves, bearing in mind that such varieties have been adapted for a long time, the area for further decline in the future should be relatively limited.
Some investors may think that the first day of the new year indicates the direction of A-shares throughout the year. I can only say that the authenticity is questionable. Only in 2018, the first trading day closed the Zhongyang line, but the stock index was very bad throughout the year.
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