Chen Yanqing, a client reporter of Shenzhen Business Daily.
European and American markets closed red last week, A shares and Hong Kong stocks continued their gains last week on the 29th, with the Shanghai Composite Index rising above 3100 points to a new high for the year. The gem index and the Wande micro-disk index also rose by more than 3%, sweeping away the haze of small and micro stocks in the early days. In terms of Hong Kong stocks, the Hang Seng Index rose more than 4% today after Lianyang last Friday. From the capital point of view, the turnover of the two cities exceeded 1.2 trillion yuan, and the net inflow of northbound funds exceeded 10.8 billion; more than 4500 stocks in the two cities rose, ushering in a more comprehensive strong market.
JPMorgan Asset Management believes that recent data show a rebound in US inflation, a further increase in the possibility of delaying the interest rate cut cycle and increased market volatility in the near future. At the same time, the domestic macro data in the first quarter are eye-catching, and the previous policies have achieved certain results one after another. the introduction of the new "National Nine articles" and the CSRC's further optimization of the Shanghai-Shenzhen-Hong Kong Stock Connect mechanism have helped to boost market sentiment and confidence. coupled with the low valuation of A / H shares, the emergence of funds to accelerate the return of funds has contributed to the recent rise in the stock market.
Looking to the future, Morgan Asset believes that China's economy is expected to continue to improve, providing macro fundamental support, the new "National Nine articles" to promote the high-quality development of the capital market, the CSRC to further optimize the Shanghai-Shenzhen-Hong Kong Stock Connect mechanism, and A-share Hong Kong stocks are expected to attract continuous attention from domestic and foreign funds. The US economy still faces risks such as weakening consumption and high interest rates as a drag on corporate profits. The Fed may cut interest rates more or be late rather than absent. It is expected that after the Fed starts its interest rate reduction cycle this year, the weakening of the US dollar may lead to a further return of funds to Asia, which is conducive to continuing to promote valuation repair, while Hong Kong stocks may have higher upward flexibility under factors such as liquidity and trading system.
Review and readCrashkirbyTan Lugang
