CSI300 gained 1.36%
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This week, the A-share market showed weakness, with overall trends facing some resistance. The SSE Index(000001) rose 0.95% this week, closing at 3400.14 points, but its trading volume decreased by 22.47% compared to the 50-day moving average, indicating a weakening of market activity. The CSI 300(000300) saw a larger increase, reaching 1.36%, closing at 3981.03 points, but it also showed a decline in trading volume (down 21.48%). The Nasdaq Composite(0NDQC) performed strongly up until now, rising by 2.29%, despite a reduction in trading volume of 8.21%, showing a relatively stable trend overall. The S & P 500 Index(0S&P5) also increased by 1.8%, but with a significant drop in trading volume, down 34.38%, indicating cautious market sentiment. The Hang Seng Index(HSI) edged up slightly by 1.87%, but remains far from its annual high, with the current price ratio relative to its one-year high being -13.56%, highlighting the relative weakness of the Hong Kong market.
In the United States, initial jobless claims for the week ending December 21 were 219,000, slightly below the expected 224,000, indicating that the labor market remained resilient. This could support the Federal Reserve’s tightening policy. Meanwhile, China’s economic growth data has been revised, with the 2023 GDP increasing by 336.9 billion yuan over preliminary calculations, indicating a steady economic growth momentum.
From an industry perspective, Wholesale-Electronics(G3577IG.CN) had the highest increase this week, reaching 7.72%, with the performance of its main constituent stocks driving the strong rise in the sector. Computer-Hardware/Perip(G3580IG.CN) andRetail-Super/Mini Mkts(G5411IG.CN) followed closely behind, rising 5.7% and 5.64% respectively. The performance of these industries was relatively positive, reflecting higher market attention towards these sectors.
Among the top 33 stocks this week, the average increase was 1.28%, with 16 stocks rising and 17 falling. Individually, Fuyao Glss.Ind.Group ‘A'(600660) stood out, with its stock price rising by 3.58%. The company is highly competitive in the automotive glass sector and has received good market recognition. Its O’Neil Score is 79, with RS Rating of 83, indicating strong market performance. The EPS Rating is 97, reflecting robust profit growth capabilities, while it ranks 46th in the industry, with Acc/Dis Rating of 23, showing moderate capital inflows.
Overall, although some sectors and individual stocks performed well this week in the A-share market, most indices and industries had limited gains, with market sentiment remaining cautious. Particularly, the contraction in trading volume indicates insufficient investor confidence in the market, which may require further attention to macroeconomic data and policy changes, especially against the backdrop of slowing global economic growth.
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Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.
published on December 27, 2024