CSI300 gained 1.0%
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The CSI 300 rose 1.0% this week on volume above the average but lower than the last week. The market condition was Confirmed Uptrend. The stock surged again this Friday, with turnover once again topping RMB2.0 trillion. Resistance remains at the Oct. 8 high of 4,450, and support remains at the May 20 high of 3,703. China’s CPI increased 0.4% y/y in September, lower than expected and previous value. PPI fell 2.8% y/y, the drop higher than expected and previous value. 24Q3 GDP grew 4.6% y/y, unchanged from expectations and slightly lower than the previous value. M1 declined 7.4% y/y in September, lower than expected, while M2 increased 6.8% y/y, higher than the previous value and expectations. New RMB loans in September amounted to RMB1.6 trillion, lower than expectations but higher than the previous value. Social financing scale increased by RMB3.8 trillion in September, higher than the previous value and expectations, and the stock of social financing scale rose 8% y/y, lower than the previous value. The value added of industry above designated size rose 5.4% y/y in September, higher than the expectations and the previous value. Fixed-asset investment in the January-September period increased 3.4% y/y, the same as the previous value. Total retail sales of consumer goods in September rose 3.2% y/y, higher than the expectations and the previous value. The economic and financial data in September was generally good. Market sentiment was high this week as a series of policy rules began to materialize. The U.S. presidential election enters a late stage. Geopolitical risks in the Middle East rise. Investors are advised to continue to focus on technically and fundamentally sound stocks and on the third quarter earnings season.
Leading: Technology (+9.0%), Industrial (+3.0%), Real Estate (+2.9%); Lagging: Consumer Staple (-2.4%), Energy (-1.4%), Utility (-1.0%).
【A33】portfolio rose 6.7% with 25 stock up and 8 down. IC design company Rockchip Electronics (603893) led the gains. The stock rose 28.9% this week. RS and AD ratings were 92 and A+. DG rating was 83.
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published on October 18, 2024