Just now, it soared by 1 trillion yuan! A shares rose to 3000 points, GEM rose nearly 4%, and technology stocks soared. RBA cut interest rates suddenly, global "large-scale drainage" began?

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The China Foundation reports that Murphy has indeed surged! Chinese stocks continued to show a strong upward trend on Tuesday after a retaliatory rebound in U.S. stocks. When the stock market opened on March 3, the three a-share indexes moved higher together, and the increase immediately expanded. Among them, the Shanghai Stock Exchange quickly broke through 3,000 key points, and the GEM market resumed its offensive, with intraday gains of more than 4%. In just half a day, the trading volume of the Shanghai and Shenzhen stock markets exceeded 700 billion yuan. As of midday, the Shanghai Composite Index rose 1.36%, the Shenzhen Composite Index rose 2.14%, the GEM index rose 3.70%, and the market value rose 1 trillion yuan. The mad cow of science and technology is making a comeback, supporting the fierce attack on the GEM market. The topics of technology concepts such as cloud computing are very popular, and capital transactions are also very active. At the same time, the "smart money" resumption of cargo sweeping northward, with a net inflow of more than 1.9 billion yuan in half a day. The a-share market is receiving more and more positive signals: China ’s national epidemic control has achieved remarkable results, a series of macroeconomic stability policies have been introduced, 25 trillion key investments have been accelerated, and new infrastructure projects have become new investment opportunities in the market. More foreign media comments: Chinese a-shares are leading Asian stocks to rise. These three major indexes have been rising for half a day, and the turnover has exceeded 700 billion yuan. Stimulated by the soaring sentiment of the US stock market, the a-share market also experienced a sharp rebound. In the early morning of March 3, the three major a-share indexes rose across the board, and fund trading was extremely active. Continuing yesterday's rally, the market index rose again this morning, then rose more than 1%, and soon exceeded 3,000 key positions. As of midday, the Shanghai Composite Index closed at 3011.37 points, up 1.36%. Shen Zhengcheng refers to the same sharp rise in the morning, which rose by more than 2.14% in only half a day, reaching 11,624.93 points. Slightly different from yesterday's market, this morning GEM began to give full play to its strength, the index quickly broke through 2200 points, the increase continued to expand, and the intraday index rose nearly 5%. As of midday, the GEM rose 3.70% to 2214. 36 points. That morning, a total of 3342 stocks rose in the entire market, of which 109 stocks rose. From the perspective of trading volume, according to the Vanderbilt a-share index, the half-day trading volume of the Shanghai and Shenzhen stock markets has exceeded 720 billion yuan. This also means that today's a-shares have a good chance to break the record of trillions of transactions in 10 days. Many market participants believe that a bull market in the a-share market has been established. In terms of turnover, breaking through trillions of dollars for several days is a sign. Statistics show that in 2015, 2019 and now, the trading volume of a shares has broken the historical trillion mark. However, events lasting more than 9 days occurred only 3 times in 2015, and basically occurred around 5,178 times. In addition, the growth of GEM after the year is even more amazing. Statistics show that the GEM index has rebounded more than 14% from its low since February 3. Technology stocks explode again. Technology stock exchange-traded funds have once again become top gold attractors. From early morning, technology stocks are making a comeback and becoming the most dazzling stars in the market. In the industrial sector, the computer, defense, military, electronics, communications and other technology sectors have risen sharply, and the computer sector index has risen by almost 5%. However, from the perspective of the wind concept board, operating system, Huawei Kunpeng, cloud computing and other conceptual topics are very popular, with the highest increase. That morning, technology exchange-traded funds became popular again. 5G ETFs, chip ETFs, and semiconductor 50 ETFs have traded more than 2.8 billion, 2 billion, and 1.6 billion, respectively. At the same time, the medical sector also made new efforts and became the department with the highest growth rate on the day. On the same day, the CITIC Medical Index rose by more than 3% and the transaction volume exceeded 50 billion yuan. From the perspective of market segments, the fund's pursuit of medical device stocks is very high, and GEM leader Mindray Medical hit a new high of over 324.9 billion yuan. Libang Instruments, Kaiyuan Medical and other medical shares collective limited company. It is worth noting that after several days of net outflows, the capital known as "smart capital" moved north yesterday, reversing and reopening the swe mode The transaction volume of technology-based ETFs such as ETFs exceeds 2.8 billion, 2 billion and 1.6 billion, respectively. At the same time, the medical sector also made new efforts and became the department with the highest growth rate on the day. On the same day, the CITIC Medical Index rose by more than 3% and the transaction volume exceeded 50 billion yuan. From the perspective of market segments, the fund's pursuit of medical device stocks is very high, and GEM leader Mindray Medical hit a new high of over 324.9 billion yuan. Libang Instruments, Kaiyuan Medical and other medical shares collective limited company. It is worth noting that after several days of net outflows, the capital known as "smart capital" moved north yesterday, reversing and reopening the swe mode The transaction volume of technology-based ETFs such as ETFs exceeds 2.8 billion, 2 billion and 1.6 billion, respectively. At the same time, the medical sector also made new efforts and became the department with the highest growth rate on the day. On the same day, the CITIC Medical Index rose by more than 3% and the transaction volume exceeded 50 billion yuan. From the perspective of market segments, the fund's pursuit of medical device stocks is very high, and GEM leader Mindray Medical hit a new high of over 324.9 billion yuan. Libang Instruments, Kaiyuan Medical and other medical shares collective limited company. It is worth noting that after several days of net outflows, the capital known as "smart capital" moved north yesterday, reversing and reopening the swe mode The transaction volume of technology-based ETFs such as ETFs exceeds 2.8 billion, 2 billion and 1.6 billion, respectively. At the same time, the medical sector also made new efforts and became the department with the highest growth rate on the day. On the same day, the CITIC Medical Index rose by more than 3% and the transaction volume exceeded 50 billion yuan. From the perspective of market segments, the fund's pursuit of medical device stocks is very high, and GEM leader Mindray Medical hit a new high of over 324.9 billion yuan. Libang Instruments, Kaiyuan Medical and other medical shares collective limited company. It is worth noting that after several days of net outflows, the capital known as "smart capital" moved north yesterday, reversing and reopening the swe mode The transaction volume of technology-based ETFs such as ETFs exceeds 2.8 billion, 2 billion and 1.6 billion, respectively. At the same time, the medical sector also made new efforts and became the department with the highest growth rate on the day. On the same day, the CITIC Medical Index rose by more than 3% and the transaction volume exceeded 50 billion yuan. From the perspective of market segments, the fund's pursuit of medical device stocks is very high, and GEM leader Mindray Medical hit a new high of over 324.9 billion yuan. Libang Instruments, Kaiyuan Medical and other medical shares collective limited company. It is worth noting that after several days of net outflows, the capital known as "smart capital" moved north yesterday, reversing and reopening the swe mode

RBA unexpectedly cut interest rates in Asia-Pacific stocks soared collectively In addition to a shares, the performance of Asia-Pacific stocks today is equally surprising. According to media reports, the RBA cut rates unexpectedly today, cutting its cash rate target by 25 basis points to 0.50%. Become the world's leading central bank. After the news was released, the Australian common stock index soared rapidly to 2%. As of the press release, the index is still up more than 1.48%. At the same time, Japanese and Korean stock markets followed closely, with the South Korea Composite Index exceeding 2% and the Nikkei index opening up more than 1.78 before narrowing its gains. In addition, Pakistan, Indonesia, New Zealand, Thailand and other multi-national indexes have all risen sharply. From the perspective of the domestic market, the Hang Seng Index opened slightly higher on the day of opening, all major stock indexes appeared red, and the medical and other industries soared. Is the Fed lowering interest rates or accelerating the "big churn" of global central banks? Under the influence of the epidemic, the global supply chain has been severely damaged, and people have become more worried about the global economic recession. More and more investors are counting on their central bank to take action to save the market, which has also become the core driving force for this market rebound. At present, central banks around the world may cut interest rates at the same time. This also means that since the financial crisis of 2008, the global "big loss" may be staged again. At the moment, the Fed's March rate cut appears to be "inevitable." On the evening of March 2, US President Trump said that Federal Reserve Chairman Powell and the Federal Reserve were too slow. Germany and other countries are injecting capital into their economies. Other central banks have taken more aggressive action. For all the right reasons, the United States should have the lowest interest rates. Immediately after Trump's announcement, U.S. stock markets retaliated. As of the morning, the Dow Jones Index rose 5.09%, its largest increase since March 2009. The Nasdaq and the S & P 500 are down 4.49% and 4. 6%. On Friday, Federal Reserve Chairman Jerome Powell said in a statement that the Federal Reserve would "take appropriate action" to support the U.S. economy, China ’s February manufacturing industry released on Saturday. Activity data fell to a record low. Economists at Goldman Sachs said they currently expect the Federal Reserve to cut key interest rates by 50 basis points this month and increase the likelihood of cooperation with other central banks. Overall, Goldman Sachs expects the Federal Reserve to cut interest rates by 100 basis points this year, while the Bank of Japan is leading the way. On March 2nd, Bank of Japan Governor Kuroda Yukihiko issued an emergency statement, clearly stating that it will take necessary measures to "stabilize financial markets." According to media reports, the Bank of Japan purchased a record 101.4 billion yen of ETFs yesterday. In addition, the Bank of Japan provided 500 billion yen to financial institutions for two weeks. In accordance with the Federal Reserve's position to maintain stability, the Bank of England said on March 2 that it is working closely with the Treasury, the Financial Services Authority (FCA) and international partners to ensure that all necessary measures are taken to protect the financial and monetary system from the new Impact of a pneumonia outbreak. The market expects that the Bank of England will cut interest rates by 25 basis points in March. Goldman Sachs estimates that Bank of Canada will cut interest rates by a total of 100 basis points in the near future. Britain, Australia, New Zealand, Norway, India and South Korea will cut interest rates by 50 basis points, while the European Central Bank and the Swiss National Bank will cut interest rates by 10 basis points. Renminbi has become the best time for a-shares of safe-haven assets. Due to the impact of the global epidemic and the turbulence of external markets, Chinese assets have gradually become a safe haven for global funds seeking safe havens. On March 2nd, Morgan Stanley released a report saying that the Chinese stock market will become a "hedging asset" under the New Crown virus, increasing the proportion of Chinese stocks in the Asia-Pacific region and emerging market asset allocation, and adding China The stock market rating was upgraded from “unchanged” to “overweight”. The report shows that the valuation of the Chinese stock market is relatively low, and the Chinese government is expected to launch stronger economic stimulus measures in the future to promote the stock market's rise. Foreign media reported on March 3 that China's stock market rose more than 3% at the close on March 2 to escape last week's decline (Stanley) released a report saying that the Chinese stock market will become a "hedging asset" under the New Crown virus, increasing the proportion of Chinese stock markets in the Asia-Pacific region and emerging market asset allocation, and upgrading the Chinese stock market rating from "unchanged" to "increasing." hold". The report shows that the valuation of the Chinese stock market is relatively low, and the Chinese government is expected to launch stronger economic stimulus measures in the future to promote the stock market's rise. Foreign media reported on March 3 that China's stock market rose more than 3% at the close on March 2 to escape last week's decline (Stanley) released a report saying that the Chinese stock market will become a "hedging asset" under the New Crown virus, increasing the proportion of Chinese stock markets in the Asia-Pacific region and emerging market asset allocation, and upgrading the Chinese stock market rating from "unchanged" to "increasing." hold". The report shows that the valuation of the Chinese stock market is relatively low, and the Chinese government is expected to launch stronger economic stimulus measures in the future to promote the stock market's rise. Foreign media reported on March 3 that China's stock market rose more than 3% at the close on March 2 to escape last week's decline (Stanley) released a report saying that the Chinese stock market will become a "hedging asset" under the New Crown virus, increasing the proportion of Chinese stock markets in the Asia-Pacific region and emerging market asset allocation, and upgrading the Chinese stock market rating from "unchanged" to "increasing." hold". The report shows that the valuation of the Chinese stock market is relatively low, and the Chinese government is expected to launch stronger economic stimulus measures in the future to promote the stock market's rise. Foreign media reported on March 3 that China's stock market rose more than 3% at the close on March 2 to escape last week's decline (Stanley) released a report saying that the Chinese stock market will become a "hedging asset" under the New Crown virus, increasing the proportion of Chinese stock markets in the Asia-Pacific region and emerging market asset allocation, and upgrading the Chinese stock market rating from "unchanged" to "increasing." hold". The report shows that the valuation of the Chinese stock market is relatively low, and the Chinese government is expected to launch stronger economic stimulus measures in the future to promote the stock market's rise. Foreign media reported on March 3 that China's stock market rose more than 3% at the close on March 2 to escape last week's decline (Stanley) released a report saying that the Chinese stock market will become a "hedging asset" under the New Crown virus, increasing the proportion of Chinese stock markets in the Asia-Pacific region and emerging market asset allocation, and upgrading the Chinese stock market rating from "unchanged" to "increasing." hold". The report shows that the valuation of the Chinese stock market is relatively low, and the Chinese government is expected to launch stronger economic stimulus measures in the future to promote the stock market's rise. Foreign media reported on March 3 that China's stock market rose more than 3% at the close on March 2 to escape last week's decline (Stanley) released a report saying that the Chinese stock market will become a "hedging asset" under the New Crown virus, increasing the proportion of Chinese stock markets in the Asia-Pacific region and emerging market asset allocation, and upgrading the Chinese stock market rating from "unchanged" to "increasing hold". The report shows that the valuation of the Chinese stock market is relatively low, and the Chinese government is expected to launch stronger economic stimulus measures in the future to promote the stock market's rise. Foreign media reported on March 3 that China's stock market rose more than 3% at the close on March 2 to escape last week's decline

On March 3, the central parity rate of RMB against the US dollar rose by 295 points to 6.9516, the highest since February 3, 2020, and the largest increase since January 14, 2020. The yuan has become increasingly secure. Wen Bin, chief researcher of Minsheng Bank, believes that, first of all, China's epidemic prevention and control measures have achieved remarkable results. The restoration work and production have been properly coordinated to ensure the normal operation of the economy and enhance market confidence. Second, China's national debt has been included in the international mainstream index, which indicates that foreign investment is still optimistic about China's capital market. The spread of more than 150 basis points between China and the United States has also attracted capital inflows and strengthened the exchange rate "buffer". In terms of bonds, JP Morgan Chase announced that from February 28, RMB-denominated, highly liquid Chinese government bonds will be included in JP Morgan Chase ’s flagship global emerging market government bond index series, which will be gradually completed within 10 months. . This is also the second time that Chinese government bonds have been included in the international index after the Bloomberg-Barclays Global Composite Bond Index. Goldman Sachs estimates that these bonds "after entering Morocco are expected to bring a total of 100 billion yuan of incremental capital." Many institutions expect that Chinese bonds will be added to the FTSE Global Government Bond Index in March. Research by the JP Morgan Global Index team shows that the inclusion of Chinese bonds in the three major indexes will bring in capital inflows of up to $ 250 billion to $ 300 billion. Golden Abyss 2.0 is coming. What's next? Many institutions expect that due to the impact of the epidemic, the a-share market suffered a deep adjustment last week, but at the same time it also brought "golden pit 2.0" to the market. Many buyer agencies have made high-profile statements that they plan to increase their positions in March. According to the March monthly report of the Chinese private equity managers' a-share confidence index released on March 2 by the private equity network, as of the end of February, the average position of long-term strategic private equity funds was 73.26%, an increase of 1.43 percentage points from 71.83% in the same period last month. It has remained at a high level for nearly half a year. At the same time, 65.27% of private equity fund managers chose to keep their existing A-share positions unchanged in March, and 27.48% of private equity fund managers planned to increase or substantially increase their positions in March. At present, the willingness of private equity fund managers to increase a-share positions has been generally high in the past six months. Anson's strategy believes that in view of the current situation, the current adjustment due to concerns about overseas epidemics is "Golden Pit 2.0". What may be different from "Gold 1.0" is that the market position, especially the position of technology stocks, is relatively high. Of course, the global risk-free interest rate is also further reduced. From the perspective of market laws, "Jinkeng 2. The repair price of “0” may be more stable and the market risk appetite may be slightly lower, which makes the repair speed and structure of the market different from the repair price of “Gold Pit 1.0”. It is expected that the repair speed will be relatively mild and the structure will not be too extreme , The market will no longer excessively pursue the theme stocks, but pay more attention to the fundamentals. It is worth noting that the current technology stock market is rising again, and the main infrastructure industry is also sought after by funds. Under the golden pit 2.0, the next step for a shares Which direction should be allocated becomes a concern for investors. CITIC Securities believes that for the a-share market, technology stocks will enter a period of calibration of performance and valuation, individual stocks will be split, and high-quality technology white horses will eventually win. On the one hand, the recycling industry that has benefited from the economic bottoming and recovery of work and production currently has high transaction value, focusing on relevant leaders in the non-ferrous metals, building materials and chemical industries. Shock, technology stocks adjusted significantly in advance. Considering the performance of leading technology and pharmaceutical companies is expected to be in the second Return of rising channel, proposals have been set are heavy investors in the field of science and technology do not make big changes in positions, reserved white horse, adjusted earnings

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