CSI300 gained 1.32%
Editor’s Note: As always, we would appreciate any feedback you have. It will help us make this app more useful to you.
This week, the A-shares market continued to face resistance despite some upward movement. The SSE Index increased by 1.81%, but trading volume was down 8.76% relative to the 50-day moving average, indicating insufficient buying momentum. The CSI 300 also gained 1.32%, but volume saw a significant contraction, dropping 23.98% relative to the 50-day moving average, reflecting cautious sentiment in the market. The Nasdaq Composite and S&P 500 Index rose by 0.3% and 0.49%, although the S&P 500 reached a new high this week, the overall performance of global markets remains weak.
Domestic stock markets still face pressure. The Shenzhen Composite and ChiNext Indexes rose by 1.66% and 2.23%, respectively, but trading volumes remained relatively low, showing a lack of market activity. The Hang Seng Index showed the weakest performance, rising only 0.85% with a sharp 49.17% decline in trading volume, highlighting subdued investor sentiment.
On the global economic front, U.S. EIA crude oil inventories unexpectedly fell by 1.844 million barrels for the week ending November 22, well below the anticipated -0.605 million barrels, indicating ongoing tension in the oil market. The U.S. core PCE price index remained at 2.8%, in line with market expectations, suggesting stable inflationary pressures. However, initial jobless claims in the U.S. showed a slight decline, signaling a relatively healthy labor market. Microsoft’s antitrust investigation news may cause short-term volatility in tech stocks, but institutions generally remain optimistic about the future performance of the tech and restructuring sectors. Additionally, BYD and SAIC Maxus’ request for suppliers to cut prices by 10% signals increased competition in the automotive sector, with cost control becoming a critical issue. Meanwhile, the “millet economy,” an emerging force in the derivative market for 2D culture, is gaining significant attention from the capital markets, driven by its unique business model and the changing consumption habits of younger generations.
The sectors that performed strongly this week include Leisure-Toys/Games/Hobby(G3941IG.CN), Retail-Super/Mini Mkts (G5411IG.CN), and Computer Sftwr-Financial (G2821IG.CN), with weekly gains of 17.24%, 12.92%, and 11.5%, respectively. In particular, Leisure-Toys/Games/Hobby has maintained strong overall performance recently, reflecting robust market demand. The strong performance in Retail-Super/Mini Mkts and Computer Sftwr-Financial sectors highlights the recovery in consumer-related demand and the support from government policies.
Among the top 33 stocks this week, the average gain was 4.78%, with 23 stocks rising and 10 falling. In terms of individual stocks, Shenzhen Bestek Tech (300822) stood out with a 80.19% increase, making it the best performer in the top 33. The company specializes in the research and sale of smart controllers and intelligent products, with major clients including TTI and Amazon. The company has strong R&D capabilities and a stable client base, with RS rating of 99, indicating strong price performance. Its O’Neil score is 65, suggesting stable earnings growth potential.
Looking ahead, the market trend remains one of upward movement faced with resistance. Investors should stay cautious, consider gradually reducing positions, and maintain an appropriate level of cash to deal with potential market fluctuations. Some individual stocks, especially those with high industry rankings and strong relative performance, may still provide opportunities for investors. However, due to the overall market pressure, short-term operations should be cautious to avoid chasing stocks blindly.
What do you think? Please email us any questions or comments.
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 November 29, 2024