Cyclical stocks are weak, dragging down the stock index, the operation should not be aggressive

A selection of financial news

SEC Chairman Yi Huiman: investigate corruption behind financial risks

October 28, China Securities Regulatory Commission (CSRC) party committee and the Central Commission for Discipline Inspection of the State Supervision Commission of the CSRC Discipline Inspection and Supervision Group held a system-wide vigilance education conference. The party secretary and chairman of the CSRC, Mr. Yi Huiman, emphasized that we should always maintain a high-pressure situation of "zero tolerance" and strengthen the deterrence of "not daring to rot". The system of public officials for personal gain, abuse of approval and supervision of corruption, to participate in the "roundup" and willing to be "rounded up", against the wind and discipline behavior, all in accordance with the rules and regulations of strict investigation and punishment. Adhere to the "double-case investigation", strictly investigate the corruption behind financial risks, and continuously improve the effectiveness of the governance of corruption in the capital market. Focusing on the capital market and the new manifestations of corruption in the SEC system, identify the weak links in supervision and integrity risk points, improve the more systematic measures to address the root causes of the problem, and purposefully establish rules and regulations to plug the loopholes.

Beijing issued an excessive fall in pig prices a level of warning, will start a temporary reserve storage

According to the Beijing Daily, Beijing has recently revised the issuance of pig regulation and control plan, adjusted the warning interval. Municipal Development and Reform Commission relevant person in charge of the introduction, according to the latest control plan, Beijing pig grain ratio into excessive decline in the first level of warning interval, to be launched in the near future, the second round of temporary reserve storage work, to promote the price level of hogs to return to a reasonable range, to promote the long-term stable operation of the hog market. Subsequently, the city will also be in accordance with the provisions of the plan to take the appropriate level of control measures to promote the balance of supply and demand in the city's hog and pork market and price stability, to prevent the production and supply and price ups and downs.

State-owned Assets Supervision and Administration Commission (SASAC) and the Ministry of Industry and Information Technology (MIIT) signed a strategic cooperation agreement to accelerate the deep integration of digital technology with the real economy

The State Council's SASAC and the Ministry of Industry and Information Technology (MIIT) signed a Strategic Cooperation Agreement on Accelerating the Integration of Dual-use and Digital Transformation of Central Enterprises,*** with the aim of promoting the acceleration of informationization by central enterprises. industrialization integration and digital transformation, promote the deep integration of digital technology and the real economy, and play a better leading and supporting role for the construction of a manufacturing power, network power, digital China and the development of the digital economy.

The State Council issued the "14th Five-Year Plan" for the protection and utilization of national intellectual property rights

The State Council issued the "14th Five-Year Plan" for the protection and utilization of national intellectual property rights. The goal is that by 2025, the construction of a strong intellectual property country will be completed on schedule, the governance capacity and level of governance in the field of intellectual property will be significantly improved, and the cause of intellectual property will realize high-quality development, effectively support the innovation-driven development and the construction of a high-standard market system, and vigorously promote the high-quality development of the economy and society.

Ministry of Commerce: deployment of local to do a good job of living necessities to maintain supply and stabilize prices, and put the government reserves at the right time

In the Ministry of Commerce held a regular press conference, the Ministry of Commerce spokesman Shu Jue Ting, said that by the cooling and rainy weather and other factors, the recent part of the food and agricultural products, especially vegetables and some of the means of production Prices continue to rise. In accordance with the deployment of the CPC Central Committee and the State Council, the Ministry of Commerce has actively carried out the work of maintaining supply and stabilizing prices, tracking the market operation of vegetables, meat, grain and oil and other necessities of life on a daily basis, and paying close attention to market supply and demand and price changes across the country and in the areas where the epidemic has spread, and on the basis of strengthened monitoring and early warning, deploying the localities to do a good job of maintaining supply and stabilizing prices of the market of the necessities of life in the winter and the next spring, setting up and improving the mechanism of joint guarantee and joint supply and putting in the government reserves at the right time. Supervision of trade and circulation enterprises to strengthen the production and marketing convergence, increase the number of key periods of stocking, and timely resolution of possible problems.

(Investment adviser: Lin Xu Rui, practice certificate number S0260615100004)

Two, the market hot spot focus

Market comment: cyclical stock trend is weak, dragging down the stock index, the operation should not be aggressive

Thursday The major stock indexes continue to retracement, as of the close, the Shanghai index closed down 1.23%, closed at 3518.42 points; SZSE index fell 1.03%, closed at 14244.82 points; GEM index fell 0.92%, closed at 3278.36 points. Shanghai index appeared three consecutive negative, plate observation, coal, oil, non-ferrous metals, iron and steel industry and other cyclical sectors generally fell, only food and beverage, brewing industry, home appliance industry and a few other plates against the market red. Industry sectors showed a general downward trend, plate stocks speculation differentiation is obvious, considering the current market in the upper economic downward pressure, under the macro-context of liquidity support, the index is expected to range oscillation is dominated by the structural market will continue to be interpreted. Operation continues to weaken the index, it is recommended that the three quarterly reports focus on electricity, food and beverage, new energy and other sectors, the stock market is risky, investment needs to be cautious.

(Investment Advisor Gu Zhixiong Registered Investment Advisor Certificate No.: S02606611020066)

Macro Viewpoint: The State Council to the manufacturing industry, small and medium micro-secondary tax slowdown of 200 billion, the release of what signal?

Event: October 27, Premier Li Keqiang presided over the State Council executive meeting, the meeting decided to the fourth quarter of the manufacturing industry, small and medium-sized micro-enterprises, such as the implementation of phased tax deferral (hereinafter referred to as "deferred tax") measures are expected to be in the manufacturing industry, small and medium-sized micro-enterprises deferred tax of about 200 billion yuan. The government is expected to provide tax relief of about 200 billion yuan for small and medium enterprises in the manufacturing industry.

Source: First Financial

Comment: Influenced by the rise in commodity prices, the small and medium-sized micro-enterprises in the manufacturing industry to increase operating pressure. The state through the introduction of phased tax relief initiatives, can ease the pressure on corporate cash flow, to help enterprises tide over the difficult times, is conducive to stabilize employment, to stabilize the fundamentals of China's economy is of great significance, the news look at the overall is neutral slightly positive impact.

(Investment Advisor Gu Zhixiong Registered Investment Advisor Certificate No.: S02606611020066)

?

Automotive industry: expected to improve, the market started, valuation waiting for the repair of the rebound

Event: by the lack of core impact, passenger car terminal retail sales in September fell 13.68% year-on-year, but the new energy vehicles with the same / chained to grow 189.7% / 42.1%. Traditional automobile plate three quarterly report under pressure, is expected in the fourth quarter chip supply will improve month by month. Bullish on the long-term development of new energy vehicles.

Source: Zhejiang Securities Research Report

Comment: September passenger car sales year-on-year double-digit decline, mainly due to the lack of supply of chips, up 8% from a year earlier, chip supply is expected to improve month by month in the fourth quarter. At present, the dealer inventory is low, terminal discounts narrow, the industry is expected to replenish inventory, analysis that the fourth quarter production and sales are more optimistic. From a structural point of view, new energy vehicle sales exceeded market expectations, and three, four and five cities rapid growth. The future of the new energy vehicle plate is one of the larger catalytic factors will be the use of lithium iron phosphate overseas automobile enterprises, the domestic industrial chain will significantly benefit from the global electrification. At the current point in time, continue to optimistic about the new energy vehicle plate, while it is recommended to pay attention to the traditional automobile plate is expected to improve the market, it is recommended to moderate and actively pay attention to the configuration of the relevant industry leaders at a low level.

(Investment Advisor Gu Zhixiong Registered Investment Advisor Certificate No.: S02606611020066)

Three, the new stock subscription tips

strong>strong Rui technology subscription code 301128, the subscription price of 29.82 yuan

Four, key stock recommendations

See the full version of the "Morning View" (customized path by month: discovery-information-information products-information-morning viewpoints; single customized path: discovery-gold-medal identification stock-morning viewpoints)