Sun Yue, a reporter for ◎
On Thursday, the three major A-share indexes fluctuated lower. By the close, the Shanghai Composite Index was down 1.Vltvideopoker.33%, at 3116Vltvideopoker.39 pointsVltvideopokerThe Shenzhen Composite Index fell 1.56% to 9541.64, while the gem Index fell 1.38% to 1852.07. The total turnover on the Shanghai and Shenzhen stock markets was 847.7 billion yuan, an increase of 16.5 billion yuan over the previous trading day.
From the market point of view, periodic stocks across the board pullback, non-ferrous metals led the decline, silver non-ferrous fell more than 6%; media, computers and other plates fell ahead; low-level economy and other plates partially active.
Periodic stock callback across the board
Yesterday, periodic stocks collectively "cooled", in the non-ferrous metal plate, Western Mining, tin shares (rights protection), Shengtun Mining (rights protection) and other stocks fell more than 5%. In the precious metal plate, Xiaocheng Technology fell by more than 10%, while Sichuan gold and western gold followed suit.
Institutions believe that, on the one hand, the minutes of the overnight Fed monetary policy meeting landed, which was a "hawk" caliber that significantly suppressed market expectations of interest rate cuts, causing the precious metals sector to weaken; on the other hand, on the eve of the traditional off-season, the fluctuation of black commodity prices may be weakened by changes in supply and demand. The future trend will be affected by both domestic policies and market sentiment, and prices are expected to remain volatile.
Low-level economic concept stocks are active
Low-level economic concept stocks are active against the trend, Yibo Technology rose by 20%, and Walter shares and Kangda new materials rose by the limit one after another.
On the news side, many policies related to the low-altitude economy have been released. The Guangdong Province Action Plan for promoting low-altitude economy and High-quality Development (2024-2026), issued on May 22, from the following eight aspects: accelerating the reform of low-altitude airspace management, moderately advanced layout of low-altitude infrastructure, actively expanding low-altitude application scenarios, enhancing the innovation capability of low-altitude industry, and creating a world-class low-altitude manufacturing highland.Vltvideopoker29 development measures have been taken. The "Thirty measures to promote the High-quality Development of Zhejiang's Service Industry," recently issued, proposes to vigorously develop the low-altitude economy, speed up the layout of high-end aviation services, such as drones and general aircraft, and build a modern aviation industry cluster, and basically build a strong province of high-level civil aviation by 2027.
Changjiang Securities said that the low-altitude economy is expected to achieve high-quality development, benefiting the whole industry chain. At present, China has formed a relatively complete low-altitude economic industrial chain, with raw materials and core components upstream, drones, aircraft and supporting equipment in the middle, and aviation management and informatization downstream.
Institutions: market risk appetite is expected to increase
Looking to the future, Zhongyuan Securities believes that with the implementation of positive policies, the market risk preference is expected to increase, the current internal and external environment as a whole is conducive to the continued stabilization and improvement of the market, the stock index is expected to maintain a volatile upward pattern. At the same time, it is still necessary to pay close attention to the changes in policy, capital and external factors. It is recommended to pay attention to investment opportunities in real estate, insurance, photovoltaic, engineering construction and other industries in the short term.
In terms of allocation, China Merchants Securities said that since the beginning of this year, the speed of rotation of the industry and the main line has been significantly accelerated, and the range of excess returns of the industry and the main line has significantly narrowed. However, behind the rotation of the industry and the main line, there is a dark line of steady improvement of excess returns: under the background of stable economic profits, accelerated improvement of free cash flow of enterprises, and aggravation of asset shortage, high ROE and high FCF leaders can become stable and dominant style strategies.