CSI 300 dropped 0.14%
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This week, the overall A-share market showed signs of weakness, with major stock indices all experiencing declines. The SSE Index(000001) dropped by 0.7%, closing at 3,368.07 points, with trading volume decreasing by 25.14% compared to the 50-day average. The CSI 300 (000300) Index also declined by 0.14%, closing at 3,927.74 points, and its trading volume was 31.11% lower than the 50-day average. On the international front, both the Nasdaq Composite(0NDQC) and the S&P 500(0S&P5) saw significant drops, falling by 2.2% and 2.5% respectively, indicating uncertainties in global markets.
Regarding macroeconomic data, U.S. retail sales for November increased by 0.7% month-over-month, surpassing the expected growth of 0.5%, which demonstrates robust consumer spending. For the week ending December 13th, the EIA crude oil inventories in the U.S. decreased by 934,000 barrels, showing a relief in supply pressure. Meanwhile, the Federal Reserve cut interest rates as expected by 25 basis points to 4.5%, and there is a widespread expectation that the People’s Bank of China might also ease reserve requirement ratios and interest rates in the future to stabilize the economy.
In China, the society-wide electricity consumption in November grew by 2.8% year-over-year, slowing down from 4.3% in October, reflecting weaker overall economic activity growth. At the same time, recent policy moves by the CSRC also indicate the government’s strong attention to stabilizing the stock market, especially under the current market conditions showing signs of weakness.
In terms of sector performance, this week’s strongest sector was Computer-Data Storage (G3578IG.CN), which had a weekly increase of 9.45% with a trading volume reaching RMB 261.34 billion. Following closely behind were Telecom-Fiber Optics (G3552IG.CN) and Elec-Semiconductor Mfg (G3677IG.CN), which rose by 5.66% and 5.09% respectively. These sectors’ strong performances reflect a high investment enthusiasm in data storage, communication infrastructure, and semiconductors.
Among this week’s top 33 stocks, the average gain was 1.28%, with 15 stocks rising and 18 declining. Individually, Range iData Tech Group (300442) stood out, with a weekly increase of 18.89%, making it the most significant gainer this week. Specializing in data center operations and digital economy solutions, the company has become a focal point in the market due to its ongoing investments in big data, cloud computing, and the Internet of Things. The company’s O’Neil Score stands at 61, indicating stable performance, while its RS Rating is as high as 98, suggesting exceptional performance over the past year. Additionally, the EPS Rating of Range iData Tech Group is 68, signifying good earnings growth. The stock’s Acc/Dis Rating is 65, indicating moderate capital inflows.
As the year-end approaches, trading volumes are gradually decreasing, and volatility may increase. Considering changes in Federal Reserve policies and the global macroeconomic situation, investors need to remain flexible and pay close attention to various upcoming economic data releases and policy changes.
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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 20, 2024