Sudden dive!The reason was found for the adjustment of “Dragon” and “Phoenix” themed stocks_Oriental Fortune Network

In early trading today, A-shares once plunged. Around 10:40, the three major indexes collectively rose and the decline narrowed. As of the morning’s close,The Shanghai Composite Indexdown 0.45%,Shenzhen Component Indexdown 0.46%,GEM indexdown 0.41%. More than 2,900 stocks fell.

There may be four reasons for the early dive:

First, U.S. stocks plunged overnight. Federal Reserve Chairman Powell recently stated that the Federal Reserve will further raise interest rates if necessary to achieve its long-term goal of reducing inflation to 2%.Powell says Fed is committed to tightening enoughcurrencyPolicy, however, is currently not on target and if further tightening of monetary policy becomes appropriate, the Fed “will not hesitate” to do so.

Second, many netizens are mentioning the Double 11 curse of A-shares, but on November 11 in the past two years, the Shanghai Composite Index has risen sharply.

Third, in the past two days, people whose names contain “dragon” and “phoenix”themeshares, withThalysStrong trend stocks represented by , have seen adjustments one after another.ThalysIt fell 7.14% in the morning, once falling more than 9%, with a turnover of 7.91 billion yuan, ranking first in A-shares. The mentality of active funds on the market tends to be somewhat defensive.

Fourth, A-shares have continued to rebound and have reached the lower edge of the early platform. In the absence of external stimulation, it is normal to fall back when encountering resistance.

In fact, based on the third and fourth points, the market is just resolving the accumulated pressure and profit taking from the short-term rebound, and the general logic supporting the market’s continued growth has not changed. This is also the reason why some funds were willing to buy the bottom later in the morning.

In addition, in the morningInnovative drugsThe sector is going up well.Innovative drugsSector trends are generally in line with U.S. Treasury 10-yearinterest rateThere is a negative correlation. On Thursday, local time, U.S. Treasury yields of multiple maturities rebounded after Powell’s speech.This may indicate that the market does not believe that long-terminterest rateSteering.

Pharmaceutical stocks rebound sharply

This morning, pharmaceutical stocks rebounded.Pharmaceutical business,Innovative drugs,biological vaccineOther sectors were among the top gainers.

According to the news, on November 9th,Chi-Medannouncementsaid its partner Takeda has obtained U.S. Food and Drug Administration (FDA) approval for FRUZAQLA (fruquintinib) for the treatment of previously treated metastatic colorectal cancer.

According to agency statistics, this is the fourth domestic innovative pharmaceutical product successfully launched in the United States. The first three are Legend Biotech’s Carvykti,BeiGenezanubrutinib and the latest approvedJunshi Biotechnologyof toripalimab.

Founder SecuritiesIt is said that the internationalization of innovative drugs independently developed by domestic pharmaceutical companies is expected to enter the harvest period. As the U.S. interest rate hike cycle comes to an end and the national medical insurance negotiations for domestic innovative drugs are catalyzed, we will look at the multi-innovative drug sector comprehensively.

CITIC Construction InvestmentIt said that looking forward to 2024, the drug store sector is expected to have a strong operating margin improvement: 1. Consumption power is expected to improve at the margin, the impact of the superposition of household inventories of four types of drugs will gradually subside, and the demand for medication is expected to continue to be released; 2. The outpatient coordination policy is gradually clarified, and single stores The marginal improvement in growth is expected to be strong; 3. The marginal impact of the high operating base is weakening, and the growth rate of drug stores may improve quarter by quarter; 4. The valuation has reached a historical low, and there are allocation opportunities.

Chip stocks performed actively

This morning, chip stocks bucked the trend and strengthened.memory chipadvanced packaging,third generation semiconductorOther sectors were among the top gainers.

In terms of news, there are two catalysts: First, yesterday eveningSMICDisclosed three quarterly reports, the third quarter of this year,SMICCapital expenditures increased by approximately 26% month-on-month to 15.31 billion yuan, and capital expenditures for the whole year were raised to approximately US$7.5 billion, a year-on-year increase of approximately 18%; second, on November 9,E Fund,China Asset Management,Huatai-PineBridge FundAn announcement was made that its Science and Technology Innovation 100ETFIt was officially established on November 8, with fundraising scales of 553 million yuan, 3.895 billion yuan, and 1.059 billion yuan respectively, totaling more than 5.5 billion yuan.

Some organizations said that from the perspective of the demand side of the chip industry chain, demand for PCs and mobile phones has picked up. In the third quarter, Android andappleNew models have been launched one after another, and domestic mobile phone shipments have remained positive year-on-year for many consecutive weeks.downstreamAIThe industry’s demand for computing power has increased significantly, and the chip demand side is expected to open up new growth space. The chip industry cycle is generally 3-5 years, and the current downward cycle is gradually coming to an end.It is expected that the end of this year or the first half of next year will usher in an inflection point and enter the next upward cycle. UpstreamsemiconductorEquipment materials are expected to be the first to benefit.

(Source of article: China Securities Journal)

Source of article: China Securities News

Author of the article: Niu Zhongyi

Original title: Sudden diving!The reason was found