The global stock market rose during the Spring Festival holiday, and eight major institutions expected the A-share market to start well
2023-01-30
On January 30, A-shares ushered in the first trading day of the Year of the Rabbit. During the Spring Festival A-share closing period, major global stock markets generally rose, with the S&P 500 index of the US stock market up 2.47% and the Hang Seng index of Hong Kong stock market up 2.92%, which created a positive atmosphere for the opening of A-share market in the Year of the Rabbit. As for the performance of A-shares after the Spring Festival, eight major institutions, including CICC, Huaxi Securities and CITIC Securities, in their latest strategic views, are optimistic about the trend of A-shares after the Spring Festival. They believe that the consumer market will recover strongly during the Spring Festival, and the performance of overseas markets and Hong Kong stocks will be better, and the "good start" of A-shares after the Spring Festival is expected. The performance of peripheral markets was excellent during the Spring Festival, and the global stock market was "up", boosted by the expected increase of the Federal Reserve's interest rate cut. In the US stock market, the flush data showed that from January 23 to January 27, the three major US stock indexes collectively rose sharply, and the Dow Jones Industrial Average achieved six consecutive positive daily. By the close of January 27, the Nasdaq Composite Index had risen by 4.32% in total during the period, and the S&P 500 Index and the Dow Jones Industrial Average had also risen by 2.47% and 1.81% respectively during the period. In the Hong Kong stock market, the Hang Seng Index of Hong Kong shares rose 2.37% on the first trading day of the Year of the Rabbit (January 26), ushering in a good start. On January 27, the Hang Seng Index rose 0.54% again, hitting a new high since July 2022, with a cumulative increase of 2.92% in the two days; The Hang Seng Technology Index rose by 5.35% during the period, hitting a new high since July last year, with a strong performance. Among other Asia-Pacific markets, the Nikkei 225 index of Japan rose 3.12% during the A-share closing period, and the Korea Composite Index rose 3.71%; The European stock market mostly rose during the A-share closing period, with Germany's DAX30 index up 0.77%, France's CAC40 index up 1.45%, Italy's FTSE MIB index up 2.56%, and Britain's FTSE 100 index down 0.07%. At the same time, the A50 stock index futures traded overseas also showed an upward trend, and the FTSE China A50 index futures performed well, with a cumulative increase of 2.94% during the period. The increase showed that foreign investors remained optimistic about Chinese stocks, which had a positive role in boosting A-shares after the holiday. "For A-shares, the domestic economic recovery trend is gradually clear, and the overall performance of the superimposed peripheral markets is better, which will boost the risk appetite of domestic investors and promote the continued repair of A-shares," said Zhang Qiyao, chief strategic analyst of Industrial Securities. The "good start" of A shares can be expected in the context of the general rise of peripheral stock markets during the Spring Festival. How will A shares perform after the Spring Festival? Looking back at the performance of A-shares in previous years, the flush data shows that in the past five years, the probability of the Shanghai Stock Exchange Index rising on the first trading day after the holiday is 80%, and the Shenzhen Composite Index and the GEM Index are both 60%. Therefore, the A-share market has a high probability of getting a "good start". "At present, the positive factors at home and abroad are beginning to emerge, and the risk appetite has rebounded. After the Spring Festival, the 'good start' of A-share is worth looking forward to." Huaxin Securities said that, first of all, during the Spring Festival, the "soft landing transaction" is expected to bring about a rebound in overseas assets, and the expectation of a soft landing of the US economy has boosted the recovery of risk appetite in overseas markets, most of which
Edit：wangwenting Responsible editor：xiaomai
Source：china.cn
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