Gem index fell 0.68%

The three major A-share indexes collectively opened low, with the Shanghai index down 0.28%, the Shenzhen composite index down 0.32% and the gem down 0.68%. On the disk, energy storage, UHV, titanium dioxide and other sectors led the rise, while coal, steel, semiconductor and other sectors led the decline.

This morning, the Hang Seng Index fell 0.14%, the real estate, property management and pharmaceutical sectors opened strongly, and Lenovo Group rose nearly 5%. Ideal motor Hong Kong Stock Exchange opened flat on the first day of listing, with an issue price of HK $118 / share.

U.S. stocks closed mixed on Wednesday, with the NASDAQ index up 0.62%, the S & P 500 index up 0.25%, both setting a new record, and the NASDAQ index down 0.16%; Vaccine stocks fell sharply, Moderna fell more than 15% and biontech fell nearly 14%.

Market news:

1. China’s financial data fell in July, and M2 increased by 8.3% year-on-year in July

According to the data released by the central bank, M2 increased by 8.3% year-on-year in July, compared with the previous value of 8.6%; New RMB loans reached 1.08 trillion yuan, an increase of 90.5 billion yuan over the same period last year, up from 212 thousand yuan in June. The increase in the scale of social financing was 1.06 trillion yuan, 636.2 billion yuan less than the same period last year, an increase of 3.67 trillion yuan in June; At the end of July, the stock of social financing scale was 302.49 trillion yuan, a year-on-year increase of 10.7%.

2. The CPC Central Committee and the State Council: strengthen law enforcement in key areas related to the vital interests of the masses, such as education and training

The CPC Central Committee and the State Council issued the implementation outline for the construction of a government under the rule of law (2021-2025), which proposed to strengthen law enforcement in key areas. We will strengthen law enforcement in key areas related to the vital interests of the people, such as food and drugs, public health, natural resources, ecological environment, production safety, labor security, urban management, transportation, financial services, education and training. Sort out the prominent problems strongly reflected by the masses in different fields and carry out centralized special rectification. For those with high potential risks and serious adverse consequences, strengthen daily supervision and law enforcement inspection to prevent and resolve illegal risks from the source. Establish and improve the system of punitive damages and huge fines for serious violations, and the mechanism of lifelong prohibition of entry, so that serious violators can pay their due price.

3. Shanghai and Shenzhen stock exchanges prohibit new medical and American ABS business, and the issued products will not be affected

The reporter confirmed from people familiar with the matter that among the newly listed consumer financial asset securitization (ABS) products recently required by Shanghai Stock Exchange and Shenzhen Stock Exchange, it is prohibited to add relevant assets of “medical American consumer finance” into the pool, and the issued ABS products will not be affected.

4. The loading capacity of lithium iron phosphate exceeds that of ternary battery, and the energy storage is another incremental demand

According to the data of China automotive power battery industry innovation alliance, in July, China’s power battery output was 17.4gwh, with a year-on-year increase of 185.3% and a month on month increase of 14.2%. The loading volume of lithium iron phosphate battery exceeded that of ternary battery for the first time in the year. Guoyuan Securities said that from the continuous rise of the prosperity of the phosphorus chemical industry, it can be seen that the demand for lithium iron phosphate is strong. In addition to the pull of new energy vehicles, the demand growth of the energy storage industry is also expected to contribute to huge incremental demand.

Institutional perspective:

1. Soochow Securities: the market is still repairing the early extreme market and paying attention to the traditional undervalued industries

Soochow Securities believes that the market is still repairing the extreme market in the early stage, especially the real estate industry has ushered in a strong rebound under the stimulation of the news. In the future, we should pay attention to the repair opportunities of traditional undervalued industries stimulated by industrial capital increase or repurchase by major shareholders. For undervalued blue chips, it is still recommended to treat them with a rebound. In order to further strengthen the future market, performance needs to be boosted to trigger the improvement of fundamentals. At present, the views of mainstream institutions are still digging in the growth direction, such as national defense and military industry, energy storage equipment, etc. In the future, it is recommended to allocate in a balanced way. In the value direction, we can pay more attention to the allocation opportunities of consumption blue chip and big finance. In the growth direction, we can pay attention to varieties such as energy storage, military industry and 5g equipment.

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