The market fluctuated on Thursday, and the turnover shrank to less than 900 billion yuan. On the disk, the paper, tourism and expressway sectors rose slightly, while most industries such as military industry and shipbuilding fell. Northbound funds sold 2.832 billion yuan, of which Shanghai Stock Connect sold 4.3865438+billion yuan and Shenzhen Stock Connect bought 6.5438+549 billion yuan. At the close, the Shanghai Composite Index reported 3363.90 points, down 1.30%, while the Shenzhen Component Index reported 13320.92 points, down1.19%; The Shanghai Composite Index reported 2587.86 points, down 0.96%.

market outlook

Yesterday, foreign media reported that American university funds were asked to withdraw from China Stock Exchange. In addition to curbing Huawei's upgrade, a new round of Sino-US economic and trade agreement negotiations is pending, and the investment sentiment of Hong Kong stocks and A shares has cooled down. There are three sets of data worth paying attention to recently. In July, 1 * * 14 1 new funds were established, with a total issuance scale of nearly 540 billion yuan, a record in a single month, including 67 hybrid funds, with a total issuance scale of nearly 270 billion yuan. 2) The number of new investors in July was 2,426,300, the highest in a single month in the last five years, and the investment amount exceeded 65.438+0.7 billion for the first time. 3) Since the beginning of this year, there have been 199 IPO companies in the two cities, with a financing amount of 272.6 billion yuan, a new high in annual financing since 20 1 1. In July, there were 50 issuing companies, and the financing scale exceeded 654.38 billion yuan. Judging from the above data, although the supply of new funds in the short-term stock market is increasing, the supply of stocks is also accelerating. With the promotion of registration system and the return of technology giants, there is still a lot of room for expansion of IPO financing scale. For investors, it is particularly important to improve the stock selection standard and the long-term quality standard of fermentation. At present, capital market investment needs the ability to resist inflation. Under the general trend of capital gathering to head investment institutions and head listed companies, if the target held is not high enough to create value for shareholders, its investment value may be weakened in the medium term. To sum up with the classic words of the old bus, time is the friend of excellent enterprises and the enemy of mediocre enterprises.

Operation strategy

External instability triggered a market correction, and the market waited for the progress of a new round of Sino-US economic and trade agreement negotiations. Large financial sectors and low-value cyclical industries that benefit from economic recovery can still be allocated on dips, giving priority to building materials, chemicals, finance, household appliances and other sectors.

The practice certificate number of Chen Da, the chief investment consultant, is s0260611kloc-0/0020.