November 24th, the market index fluctuated slightly throughout the day, and the Shanghai Composite Index returned to the 3600 integer mark once, driven by heavy plates such as spirits and banks. As of the close, the Shanghai Composite Index closed up 0.10%, the daily line four Lianyang, the Shenzhen Composite Index fell 0.12%, and the gem Index fell 0.40%. In terms of plates, photovoltaic and Xinneng cars, which were active a few days ago, showed a pullback on November 24. Coal and steel were led by the rising prices of black varieties in the commodity market, while meta-cosmic concept stocks led the game plate to strengthen. On the whole, the recent rotation of the market plate accelerated, the persistence of hot spots is poor. Individual stocks rose and fell by half on November 24th, with nearly 2300 rising and more than 2000 falling.
In terms of capacity, the total transaction volume of the two cities exceeded 1.2 trillion yuan on November 24, breaking through the trillion mark for the 24th trading day in a row. Northbound funds, a total of 2.369 billion yuan net inflow, including Shanghai Stock Connect inflow of 51 million yuan, Shenzhen Stock Connect inflow of 2.318 billion yuan, the fourth consecutive trading day inflow.
Recent northward capital inflows and outflows, data from WIND
On November 24th, the periodic plate represented by coal and iron and steel showed a bright performance. Coal ETF (515220) rose 2.38%, with a turnover of 396 million yuan, while steel ETF (515210) rose 1.31%, with a turnover of 161 million yuan. The rise in coal and steel on November 24 was mainly driven by a surge in black varieties in the futures market, of which the main contract for coking coal rose 12.40%.
The market performance of black varieties in the commodity futures market on November 24th, data from WIND
Since the steel and coal sectors began to be adjusted by policy regulation in mid-September, the adjustment rate in the past two months has exceeded 30%, which has fallen too much in the short term, and there is a demand for repair that has overfallen and rebounded. So since last week, as coal futures have stopped falling and stabilized, coal ETF and steel ETF have also gone through a wave of continuous growth, with a cumulative increase of nearly 10 per cent.
Looking forward to the future, policy may still be one of the important factors affecting the coal sector. In winter, the policy pressure of ensuring supply and stabilizing prices limits the upper limit of the rebound of coal prices; while the iron and steel sector is currently in a market pattern of both supply and demand, in the short term, it may still be dominated by shock consolidation. However, in the medium to long term, under the background of "carbon neutralization" and "carbon peak", whether the iron and steel industry or the coal industry has been in a "supply-side reform" for a long time is relatively certain, and it may be in a tight balance between supply and demand for a long time in the future. Therefore, after the full adjustment, we can still pay attention to the phased investment opportunities of iron and steel ETF (515210) and coal ETF (515220).
The new energy sector, which was active a few days ago, made a collective adjustment on November 24, with carbon neutral 50ETF (159861) down 2.33%, photovoltaic 50ETF (159864) down 2.29%, and new energy vehicle ETF (159806) down 1.32%.
The decline of the new energy sector, on the one hand, was disturbed by news. According to media reports, a suspected BYD Qin Pro exploded in the basement yesterday. According to BYD's official response, the fire at the scene was put out in time, no explosion occurred, and there were no casualties. Vehicles will be sold in early 2019, the specific reasons, will cooperate with the relevant departments for further investigation. The BYD fire accident has also had an impact on the market mood of the new energy car industry chain, which is on fire this year.
On the other hand, the reason is that the overall valuation of the new energy sector is relatively high, and the market has risen a lot in the past three years. The market needs time to meet performance expectations and gradually digest the current higher valuation. Therefore, we can see that whether it is the new energy vehicle industry chain, or photovoltaic and other new energy sectors, the overall market since August has been dominated by horizontal market shocks, with time to change space.
However, the long-term development prospect of the whole new energy sector is good. At present, not only China is making great efforts to develop new energy, but Europe and the United States are also making every effort to develop new energy. Therefore, after the adjustment time is more sufficient or the adjustment range is more sufficient, we can focus on the related targets such as new energy vehicle ETF (159806), carbon neutral 50ETF (159861) and photovoltaic 50ETF (159864).
Risk Tips:
Investors should fully understand the difference between regular fixed investment and zero deposit and lump sum withdrawal of the fund. Regular quota investment is a simple and easy way to guide investors to make long-term investment and average investment cost. However, regular quota investment can not avoid the inherent risks of fund investment, can not guarantee the return of investors, nor is it an equivalent way of financial management instead of savings.
No matter the stock ETF/LOF/ graded funds belong to the securities investment funds with higher expected risk and expected return, their expected return and expected risk level are higher than those of mixed funds, bond funds and money market funds.
Fund assets invested in Science and Technology Innovation Board and gem stocks will face unique risks caused by differences in investment targets, market systems and trading rules, which should be brought to the attention of investors.
The short-term rise and fall of the plate / fund is only used as an auxiliary material for the analysis of the article, is for reference only, and does not constitute a guarantee for the performance of the fund.
The short-term performance of individual stocks mentioned in this article is for reference only and does not constitute a stock recommendation, nor does it constitute the prediction and guarantee of the performance of the fund.
The above views are for reference only and do not constitute investment advice or commitment. If you need to buy relevant fund products, please pay attention to the relevant regulations on investor appropriateness management, do the risk assessment in advance, and buy the fund products that match the risk level according to your own risk tolerance. The fund has risks and needs to be invested with caution.
