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Original Caption: Just Now, A Shares Got Popular! This Index Has Hit A Record For Two Days In A Row
Source: Shanghai Securities News
Against the background of overnight losses in the European and US equity markets, the A-share market showed extremely strong resistance in early trading today.
Although the three major A-share stock indices collectively opened lower by more than 1%, their decline has not expanded since. As the consumer stocks represented by spirits made a strong momentum, the stock index slide slowed rapidly and turned red one after another.
At the close of noon, the Shanghai Composite Index reported 3271.72 points, an increase of 0.08%; the Shenzhen Component Index reported 13,499.42 points, an increase of 0.83%; the ChiNext Index reported 2,688.42 points, an increase of 0.67%.
Morning performance of major A-share stock indices
By contrast, other markets in the Asia-Pacific region were mostly dragged down by European and US equity markets, generally falling today. At press time, the Korean Composite Index fell 1.8%, the Australian S&P 200 Index fell 1.9% and the Nikkei 225 Index fell 0.5%.
Major Asia-Pacific markets overall fell in early trading
The liquor index hit a record for two consecutive days.
Consumer stocks were the biggest contributor to the stabilization of A stocks in early trading today, especially the spirits sector.
At noon close, Wind’s Liquor Index (884705.WI) rose 3.63%, setting a record for the second day in a row. Since October, this index has increased by approximately 22%.
Daily trend of the wind liquor index
In terms of individual stocks, five liquor stocks reached record levels in early trading. among them,Jin Huijiu、Luzhou LaojiaoThey both reaped the daily limit and hit a record,Wuliangye、Shanxi fenjiu、Alcoholic wineIt also reached a record.
Luzhou Laojiao and Wuliangye Daily Trend
Consumer equity returns stand out again
Zhongtai ValuesSince the beginning of this year, the food and beverage sector is believed to have achieved significant excess profitability, with leaders in various segments repeatedly setting new highs. After the recent adjustment of some varieties, the cost behavior of the sector has once again stood out.
In terms of liquor, Zhongtai Securities believes that overall liquor consumption during the mid-autumn peak season exceeded expectations. Performance in the third quarter overall improved from the prior quarter, and actual sales were better than the report. Based on feedback from the Mid-Autumn Festival, the overall peak season for this year’s Mid-Autumn Festival has exceeded expectations. For one thing, it’s reflected in the approval price of high-end wine before the holidays. The driving force behind this is primarily the rapid recovery of banquets, and there has been a significant increase in settings such as wedding receptions and family and friends gatherings, especially in low-level cities.
Looking to the fourth quarter, the atmosphere of domestic consumption has basically recovered. Liquor sales are expected to continue to maintain a healthy momentum in the fourth quarter. Based on the experience of previous years, under the off-season volume control, the price of famous spirits will have a new upward momentum. Continue to be optimistic about the off-season price behavior of high-end spirits.
In terms of consumer goods, Zhongtai Securities proposes to focus on two main lines: one is the essential consumer goods that benefit from the epidemic, such as quick frozen, grains and oil, pasteurized milk, meat products, etc .; the other are industries with a significant marginal improvement in performance, such as dairy, beer, condiments, health foods, confectionery, etc.
The fastest period of economic recovery abroad has passed
European and US stock markets fell overnight and the Dow Jones Index posted its biggest drop since June. Since this week, the Dow Jones Index has fallen 6.4% and the Nasdaq Index has fallen 4.7%.
The CBOE volatility index (VIX), which Wall Street calls the market’s “panic index,” broke the 40 mark overnight, reaching its highest level since June 15.
CICCThe foreign team considered that recent large fluctuations in foreign markets are mainly related to the continued escalation of the epidemic.
The IACC believes that because the epidemic coincides with the simultaneous escalation of Europe and the United States, and the US fiscal stimulus is still at a standstill, this is different from the environment in which the US fiscal stimulus was launched during the second wave of the American epidemic from June to July and there was no recurrence in Europe. Different, so we must pay attention to emotional disorders.
Northeast ValuesA few days ago, the foreign macroeconomic outlook for 2021 was released. It is believed that after removing the base factor, the fastest period of economic recovery has passed for most of the world’s economies except China, and the real rebound could be limited next year.
Northeast Securities said that the epidemic control situation in the United States is well below market expectations, causing a significant slowdown in the economic recovery in the United States. The situation of repeated outbreaks and an upward trend in the center has broken the market’s expectation that after the first wave of the epidemic, the epidemic can be controlled after a strong lockdown and the economy can be restarted smoothly. Facts have shown that before effective vaccines become widespread, the United States will coexist with the epidemic for a long time and cannot fully repair the economy. With the exception of China, most of the world’s economies are similar to those of the United States.
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