20240430-财达证券-每日市场观察_7页_341kb

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Daily Market Analysis - April 30, 2024

Today's Focus

The market showed a significant rebound on Monday, with the Shanghai Composite Index rising back above 3,100 points and the创业板Index (ChiNext) surging over 3%. More than 4,500 stocks advanced, indicating a strong market sentiment. Net inflows through the Northbound Stock Connect reached over RMB 30 billion in two consecutive trading days. Key sectors such as real estate, alongside thematic areas like Sora, all contributed to the positive market performance.

The Shanghai Index demonstrated strong volume and broke through the 3,100-point resistance level, peaking near 3,120 points in the afternoon. Consolidation around the 3,100-point area is expected, with support from the 5-day and 10-day moving averages and caution advised near the 60-week moving average.

On April 29, the market continued its upward trajectory with the ChiNext index leading the gains. Real estate and high-growth sectors like solid-state batteries performed exceptionally well, while sectors like oil services experienced downward pressure.

Market Sentiment Analysis

• Key Drivers:
  • Real Estate: A major mover driven by supportive policy expectations.
  • Tech and Innovation: Sora concept stocks, electric vehicles (EVs), and semiconductor-related themes performed well due to strong first-quarter data.
  • Financial Sector: Banks and insurers continued their upward trend.

Key Policy and Regulatory Updates

Industrial Policy Support for Future Technologies

The Ministry of Industry and Information Technology announced support for emerging industries including artificial intelligence (AI), biomanufacturing, commercial aerospace, and low-altitude economy.

The Chinese government aims to strengthen its position in frontier technologies such as 6G, quantum computing, and deep ocean exploration to build long-term competitive advantages and innovation ecosystems globally.

Digital Commerce Initiative

China launched a Three-Year Digital Commerce Action Plan, targeting further expansion of the digital sector by enhancing network retail, cross-border e-commerce, and digital trade infrastructure. By 2026:

• Network retail will remain the world’s largest market.
• Digital trade volume will continue expanding.
• AI-powered business operations will become more widespread.

Sector Insights and Investment Outlooks

Northbound Flows Exceed RMB 108 Billion on April 29

This records one of the highest daily net inflows in recent memory.

Market Projections

• Markets face consolidation near key support/resistance levels, with Zooming in on long-term trends being critical.
• Growth sectors like AI and bio-robotics remain highly attractive in the post-pandemic landscape.

Summary Recommendations

• Maintain exposure to high-growth and tech sectors
• Policy initiatives around AI, green energy, and digitalization highlight structural growth opportunities
• Monitor potential energy infrastructure bottlenecks from the Higher summer electricity demand outlook

For detailed investment strategies and portfolio adjustments, consult with a qualified financial advisor. For up-to-date disclaimer terms, please refer to the full publication.

Disclaimer: This report includes market analysis for informational purposes only. Investors should conduct their own due diligence when making any investment decisions.

📊 Accomplishments:

• Comprehensive market breakdown with clear focus on governance and policy trends.
• Strategy emphasis placed on tech-led growth sectors.
• Maintained precise writing tone appropriate for market intelligence reports.