InterfaceObservation
Monday, the two cities opened low shock retracement, the two cities turnover 716.3 billion. Plate observation, medical industry, in vitro diagnostics, locust control and other plates rose, cloud games, brokerage concept, diversified financial and other plates fell. The two cities up 63, down 32, northward net inflow of funds - 1.4 billion. The Shanghai index fell 0.61%, at 2961.54 points, the Shenzhen Composite Index fell 0.52%, at 11751.36 points, the Chuangxin index fell 0.42%, at 2372.54 points.
AftermarketOutlook
Duonwu small holiday period, the epidemic data outside the country intensified, U.S. stocks fell 3-4%, the A50 futures index also fell nearly 2%, however, the A-share due to the better control of domestic epidemics and the economic data of the industrial enterprise profits in May year-on-year rebound of 6% favorable hedge, only Opened 0.22% lower, then brokerage stocks due to media reports that the Securities and Futures Commission plans to open up commercial banks to pilot the issuance of brokerage licenses short news hit all the way down suppressing the market, and the pre-holiday strong theme stocks cloud game also led the fall, the whole day the stock index to maintain the trend of shock lower, but the overall adjustment is not strong, the end of the market northward capital flow back significantly, to help the stock index stabilized. On the one hand, the overseas epidemic data to set a new high, on the other hand, the United States and European trade disputes again, and China's 20 high-tech enterprises to take new sanctions, the global stock market so again by the volatility is inevitable, however, although the epidemic and trade disputes are not smooth sailing to resolve, their psychological impact on the public has been reduced, the global, especially Europe and the United States, the economic activity has been gradually restoring the trend of the market once again panic! In fact, the market panic again has been very limited, is expected to be difficult to reappear in March's extreme irrational decline in the market, the global economy's "V" reversal will continue as before, and is unlikely to see a second bottoming recession and the market. Overall, it is expected that the global epidemic repeated will cause disturbances to the rhythm of economic recovery, but the main theme of the world is still repair, in the Federal Reserve expansion of the table does not clearly appear inflection point, the U.S. stock market is difficult to appear a major systemic risk, the conduction of the A-share has been weakened; June 30 before the second quarter, the central bank put liquidity to help financial institutions to smooth the cross-season, the bond market phases of the interest rate will be the end of the upward movement into the high level of shock! State, the third quarter is expected to ease financial conditions, the discount rate down to drive the "financial supply side of the slow bull", A shares are expected to be in the earnings of the weak repair of the "performance repair elasticity".
OperationStrategy
Suggested industry configurations: (1) consumer demand repair (leisure services, department stores, gold jewelry); (2) export repair (machinery and equipment, white goods, apple chain of consumer electronics); (3) supply and demand repair double new (building materials/heavy trucks, IDC / medical information technology / new energy vehicles). Guangfa Securities Investment Advisor Luo Limin, Practice Certificate No.: S0260611010126