royalacecasinofreespins| Midday review: The Innovation Index opened high and fell 0.15% in early trading. Real estate stocks continued to be strong

Special topic: China's stock market to rebound A-share valuation discount will be narrowed

News on May 22ndRoyalacecasinofreespinsThe index fluctuated weakly in the morning, and the three major stock indexes once turned green collectively in intraday trading. Plate, real estate stocks are strong in early trading, Tiandi Source, Chongqing Development, Jindi Group, Greenland Holdings and other collective trading limit; property plate with the rise, an Jubao, Debi Group 20cm limit; photovoltaic related concepts strengthen, converge green ecology limit. In terms of decline, the scenic spot tourism plate continued to adjust, with Dalian Shengya and Emeishan A leading the decline; the concept of digital watermarking fluctuated lower, Lingnan shares and Dacheng fell to the limit in midday; the concept of civil explosion went up and down, and Baiao Intelligence fell by more than 7%. Overall, individual stocks rose more than fell less, up more than 2800 stocks.

By lunchtime close, Prev was at 3158.Royalacecasinofreespins.48 points, up 0.Royalacecasinofreespins.02%; Shenzhen Index reported 9657.86 points, down 0.25%; Chuangxin Index reported 1858.62 points, down 0.15%.

On the market, real estate services, rental and sale rights, real estate development plate led the increase, scenic spots and tourism, digital watermarking, oil and gas mining plate led the decline.

Hotspot plate:

1. Real estate

Tiandi Source, Chongqing Development, Jindi Group, Greenland Holdings and other shares are active.

On the news side, since the central bank released the new policy on May 17, many places have followed up the implementation of down payment ratio, mortgage interest rates and other aspects of the adjustment. Banks in Wuhan implemented a down payment of 15%, and the first home loan interest rate was reduced from 3.55% to 3.25%. In Changsha, the down payment ratio of first and second homes was 15% and 25%, and the first and second home loan rates were reduced to 3.65% and 3.95%. Analysts say the down payment ratio and mortgage interest rates will be cut one after another, and it is expected that the down payment ratio in all second-tier cities is likely to fall to 15%.

2. Photovoltaic

Huilu ecology, Oriental Sunrise, Yubang new materials, Jingao science and technology and other stocks are strong.

On the news side, the China Photovoltaic Industry Association recently organized a "Symposium on the High-quality Development of the Photovoltaic Industry" in Beijing. The meeting pointed out that it is necessary to strengthen the crackdown on vicious competition in sales below cost prices, encourage mergers and restructuring in the industry, and smooth the market exit mechanism.

Message side:

1. [a number of banks in Zhengzhou have dropped the down payment ratio of the new policy of the central bank to 15%] the reporter learned from several banks in Zhengzhou that at present, Zhengzhou has begun to implement the new policy of the central bank, with the down payment of the first home reduced to 15% and the down payment of the second home to 25%. However, the mortgage interest rate of commercial loans has not been adjusted, and the interest rate of first home loans is still 3.45%.

2. [Ministry of Industry and Information Technology: telecom business revenue grew 4% year on year from January to April] according to data disclosed by the Ministry of Industry and Information Technology, telecom business revenue totaled 592.4 billion yuan from January to April 2024, an increase of 4% over the same period last year. The total volume of telecommunications services calculated at the same price last year increased by 12.5% over the same period last year.

3. [the proposal to make it more convenient for foreigners to come to China and the elderly to pay at the airport] Today, the China payment and settlement Association, the China Air Transport Association and the China Civil Airport Association jointly issued the proposal to financial institutions, airlines and civil airports to further enhance the level of payment services for foreign visitors to China and the elderly in the airport area. It is proposed to provide convenient payment facilities such as foreign currency exchange points, commercial bank outlets and ATM to support foreign card withdrawal function at transport airports, and conditional airports are equipped with foreign currency self-exchange machines. Banking institutions, chartered foreign currency exchange institutions, etc., set up payment service center counters at the international airport; hotels, restaurants, shops and other self-operated or introduced merchants in the terminal of the international airport are equipped with necessary software and hardware facilities such as mobile payments, bank cards and cash.

4. [release of relevant standards for take-off and landing fields of electric vertical take-off and landing aircraft] the China Civil Airport Association issued the group standard "Technical requirements for take-off and landing fields of electric vertical take-off and landing aircraft (eVTOL)" at the Fifth China Airport Development Conference on May 22nd. The standard was officially launched at the end of 2023.RoyalacecasinofreespinsChina's first technical specification for the take-off and landing field of electric vertical take-off and landing aircraft (eVTOL). The standard is divided into 11 chapters, which clearly explains many technical parameters of electric vertical take-off and landing aircraft (eVTOL), such as physical characteristics, obstacle restrictions, site selection, structural design, special facilities and equipment, and so on.

Institutional viewpoint:

Guosheng Securities pointed out that the recent overall market performance is divided, on the index level, Prev fluctuates all the way up, reaching a new high for the year, while the performance of the gem index and the Kechuang 50 index is relatively weak, which is still a bottom shock trend. From the perspective of market performance, rotation is still the main tone of the current market, but the problem is that the rapid switching of funds makes the pace of plate rotation too fast, and the sectors with the highest gains today are likely to be at the top of the decline list the next trading day. The lack of money-making effect also makes some funds choose to wait and see. Without the promotion of incremental funds, it is very difficult for the market to continue to rise. For short-term trading funds, the maneuverability of this market is poor, after all, it is very difficult to grasp the rhythm of rotation. In the direction, we can pay attention to the trend layout opportunities of biomedicine, construction machinery, chemical industry and other sectors.

Huatai Securities believes that the market shock strengthened last week, policy transactions heated up, the rise of the real estate chain is relatively at the forefront. Pay attention to the following three points: 1) on the whole, there are some signs of marginal improvement in A-share micro-capital flows (mainly foreign capital), the net outflow of active allocation of foreign capital has narrowed, and the passive allocation of foreign capital has turned to net inflow of → for the first time since mid-January 2024. 2) there may still be some differences in the allocation of funds to the real estate chain: the main net inflow of ETF into the real estate industry. Northward funds mainly flow into banks, and the extent of increasing positions in real estate is relatively limited; the estimated public offering fund positions show that the allocation of institutional funds to real estate has weakened month-on-month, while property chain industries such as building materials / steel / home appliances / banks, etc.; financing funds are still reducing positions in real estate and real estate chain industries; 3) ultra-long-term funds have steadily entered the market, with a buyback plan of 14.3 billion yuan last week.

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