This website uses cookies to collect usage information in order to offer a better browsing experience. By browsing this site or by clicking on the "ACCEPT COOKIES" button you accept our Cookie Policy.

Closing Bell (June 24, 2020)

By:

Sales Trader, International Business Division

MARKET

In the afternoon, the index continued to consolidate, and the index declined slightly. Near the end of the day, the ChiNext rose and turned red. Individual stocks maintained a trend of falling more and rising less, with a general profit-making effect. Till market closed, Comprehensive Finance and Real Estate led the gain. Textile and Medical led the fall. In total, both markets traded 728.72 billion RMB, down 3.90% dod.

OpenClose% Change(bn yuan)
Shanghai2972.982979.550.3297.01
Shenzhen11813.3611813.530.17431.71
CSI 3004128.14138.990.42224.55
ChiNext2386.262382.470.02161.55
SectorTop 1Led byTop 2Led by
Upward-leadingComprehensive Finance000567Real Estate000011
Downward-leadingTextile603608Medical603718

NEWS

*From June 24 to June 27, the national railway is expected to send 26 million passengers, and June 25 is the highest peak passenger flow, is expected to send 7 million passengers. On the first day of the Dragon Boat Festival holiday on June 24, the national railway is expected to send 6.7 million passengers and arrange for 7,479 passenger trains.

*Global Computer Vision Summit CVPR 2020 announced the results of the major challenges. Alibaba (09988.HK) won the world championship in four competitions. Among them, in the most difficult DAVIS challenge, Ali proposed that it can accurately predict the target location of the video. Method, and won the first place with more than 80 points for the first time.

*Liu Kezhi, Director of the Market Management Department of the Ministry of Culture and Tourism, said that as of June 22, 10064 tourist attractions across the country had resumed opening, and the Dragon Boat Festival will continue to promote the normal management of tourist spots in accordance with the principles of limit, reservation and peak shift. Continue to receive passengers in accordance with the 30% flow limit that does not exceed the maximum carrying capacity of the tourist attractions.

*The Federation said that the retail performance of the passenger car market in the third week of June (15-21) picked up slightly, with an average retail of 43,900 vehicles on the third Sunday, a year-on-year growth rate decrease of 11%. Since the inventory pressure before the implementation of the Sixth National Day in June 19 was particularly high, and the rhythm of dumping goods was tight before loosing, the pressure on this year is gradually decreasing. Judging from the caliber of the chain, the third week of June increased by 9% from the third week of May, and the trend was relatively stable.
*The National Development and Reform Commission and the Ministry of Commerce released the 2020 version of the Negative List of Foreign Investment Access.
This revision speeds up the opening up of key areas in the service industry. In the financial sector, the restrictions on foreign shares of securities companies, securities investment fund management companies, futures companies, and life insurance companies were lifted. In the field of infrastructure, the rule that the construction and operation of urban water supply and drainage pipeline networks with a population of 500,000 or more must be controlled by the Chinese party.
*Chinese scientists have made major breakthroughs in the research of coronavirus antibodies. A team led by Chen Wei, academician of the Chinese Academy of Engineering and researcher of the Academy of Military Medical Sciences, found the first highly efficient neutralizing monoclonal antibody targeting the N-terminal domain of spike protein.
At 22:00 Beijing time on June 22nd, the international top academic journal “Science” published the research results online. This is another world-class scientific research achievement after the adenovirus vector recombinant new crown vaccine developed by Chen Wei’s team first entered the Phase II clinical trial in the world.

FUND FLOW

Disclosure: Interactive Brokers

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Guosen Securities Co., Ltd and is being posted with permission from Guosen Securities Co., Ltd. The views expressed in this material are solely those of the author and/or Guosen Securities Co., Ltd and IBKR is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

trading top