A-share Opening Express | The three major indices collectively opened higher, and MLCC and CRO concepts strengthened
Opening data
The Zhitong Finance App learned that on September 21, the Shanghai Index opened 0.21% higher to 3920.27 points, the Shenzhen Index opened 0.55% higher to 13716.22 points, and the GEM index rose 0.93% to 3403.90 points. Science Innovation 50 opened 1.00% to 1669.20 points.
As of 9:34, a total of 3,928 companies in the Shanghai and Shenzhen markets had risen, 1,346 were down, and 291 were flat.
The increase was highest: MLCC concept, CRO concept, semiconductors, components, communication equipment, medical services, etc.; the decline was the highest: precious metals, petroleum and petrochemicals, banks, electricity, etc.
Market conditions
The four major indices collectively opened higher and continued to rise slightly. As of 9:34, the Shanghai Index reported 3928.97 points, up 0.44%; the Shenzhen Index reported 13769.78 points, up 0.95%; the GEM Index reported 3426.80 points, up 1.60%; and Science Innovation 50 reported 1677.73 points, up 1.52%. Capital inflows to communication equipment, semiconductors, etc. were high, and components, medical services, chemicals, pharmaceuticals, etc. strengthened simultaneously; precious metals, etc. were adjusted in the defensive direction in the early stages, and the weight direction of banks, electricity, etc. declined slightly. As of 9:34, the market had risen and stopped at 22 and 0, accounting for 70% of the increase.
Overnight quick facts
Overseas markets: The three major US stock indices closed with mixed results on September 18. The Dow fell 0.18%, the S&P 500 rose 0.17%, the NASDAQ rose 0.39%, and the Philadelphia Semiconductor Index closed up 2.78%. WTI crude oil fell 1.81% to $95.47 per barrel. According to CME interest rate futures, the market is pricing the Fed's interest rate hike again in October by about 55%.
Domestic macro: The Ministry of Commerce said on September 19 that He Lifeng will lead a delegation to the US to hold economic and trade negotiations from September 19 to 23. The executive meeting of the State Council held on September 18 deployed and implemented the medical rehabilitation and nursing expansion and upgrading project. The central bank announced on September 20 that LPRs for 1 year and 5 years or more were 3.0% and 3.5% respectively, unchanged for 16 consecutive months.
Key industries: Ten departments including the Ministry of Industry and Information Technology issued the “Fifteenth Five-Year Plan for the Development of the Pharmaceutical Industry” on September 18, proposing that the operating income of pharmaceutical industry enterprises above scale will exceed 3.5 trillion yuan by 2030. On September 20, Changxin Technology announced the official mass production of the fifth-generation technology platform, and the 24Gb LPDDR5X product entered mass production.
Trend analysis
The four major indices collectively opened higher. The GEM index was the most flexible with the Science and Innovation 50, leading the way in components, communication equipment, medical services, etc.; MLCC and CRO concepts were active; precious metals etc. weakened in the early stages. Driven by the strengthening of the US stock memory chip sector on the previous trading day, mass production of Changxin Technology's fifth-generation technology platform, and the implementation of the “15th Five-Year Plan” for the pharmaceutical industry.
Institutional consensus is biased. The Fed's interest rate hike in September was implemented, short-term policy suspense was released in stages, and the rebound window may have already been opened, but it is more likely to show a rebound rather than a trending market. As the Mid-Autumn Festival and National Day are approaching, trading activity may have declined. The index may remain volatile and rotating in the short term, and structural opportunities may be superior to the overall market.