Today, the two markets traded 700 billion yuan, with the median down 1.79%. The bull market experience card that spanned two months (August 29 to September 1) expired, and it returned to the previous days.
The best performers today are coal and banking sectors. As long as the market crashes, these two sectors are like official designated bomb shelters, and all kinds of funds will flee to hide in them. As for the decline list, semiconductors -4%, liquor -4%, home appliances -3.6%, games -3.1%, securities -3%, movie theaters -2.8%, software development 2.7%, real estate -2.6%, all of them were smashed into pieces by a bear's paw.
I took a look at the global stock market. Today, there are both ups and downs. Overall, it is not that bad. The reason why we fell so sharply may be that there was a rumor on Friday that the interest rate of existing mortgage loans would go up, but it did not come true over the weekend. The good news failed to materialize, causing a lot of funds to flee at the opening. What does this show? It shows that these rats in our market lack strategic determination.
After today's decline, the Shanghai Composite Index reached 2811 points, setting a new low in this round. According to data disclosed, the national team Huijin increased its holdings of ETFs by 450 billion in the first half of the year. As a result, the market kept buying lower and lower, indicating that various funds were reducing their holdings. Foreign capital + public funds (redemption of fund investors) + private funds + institutions + shareholders, together sold at least 500 billion.
This is different from the previous bear markets, which saw a decline in volume and a small outflow of funds. So the government gave some policies and people bought more stocks and the market recovered. This time, the policies were given and real money was bought, but it was still difficult to reverse the decline. I have a wild guess. It may be that the whole society is in deflation, leverage is being reduced everywhere, and people are short of money, so everyone is withdrawing cash from the stock market to fill the gap.
In addition, I saw a data today that the operating income of more than 5,300 A-share companies in the first half of the year fell by 1.41%, and the net profit fell by 2.36%. This seems strange. What's strange about it? Our GDP grew by 5% in the first half of the year. I reflected on what was going on. One possibility is that all the companies listed on the A-share market are garbage, and the good companies are hiding and not listed.
After today's decline, some readers left messages, saying that I had said before that I would consider buying the dip below 2,800 points, and whether I was planning to buy now. The prerequisite for me to buy the dip is that the market can experience a sharp drop, rather than the current tepid drop. If you don't understand what kind of sharp drop is, you can refer to the trend in early February. Only when the market falls to the point of ghosts crying and wolves howling or the Internet is full of curses, it means that the extreme emotions are at their peak, and you can speculate and make some money, otherwise forget it.
I have said this many times: it is better to miss out on A-shares now than to make mistakes. It is not a pity to miss out on the rise like last Thursday and Friday. Less loss is also profit, not to mention that the long-term return rate of this market is a mess. Time is a whore, not a friend.
People who have money printing machines don't use them, but you only have a few dollars in your pocket, what are you going to use them for?
……
1. Today, China Shipbuilding plunged 9%, which is a bit puzzling, because the company announced a 155% increase in profits in the semi-annual report on Friday. The listed company responded that the business was normal and there was no major negative news. What's interesting is that there was news tonight that China Shipbuilding will issue additional shares and absorb China Heavy Industry, and the two companies will merge. I took a look at the share price of Heavy Industry, which also fell by more than 6% today.
The company merger is not a good thing in the traditional sense, but it is not a bad thing either. I don’t understand the logic behind the rush to invest.
2. The interest rate for first-time home loans in Guangzhou has dropped to 2.89%. I think there is still room for this interest rate to fall, but at least it is close to a reasonable level. The existing home loans with an interest rate of more than 4% are what really need to be lowered.
Never mind, there's nothing else to write.