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Interface News reporter | Sun Yizhen

On the first trading day after the May Day holiday, the A-share market got off to a good start as expected, with the three major indexes rising strongly collectively.

Just in the pastSwitcharcadegamesDuring the holiday, Chinese assets were very popular in overseas markets, and the Nasdaq China Golden Dragon Index rose more than 8%.

By the close of trading on May 6, the Prev was up 1.Switcharcadegames.16%, up 2% on the Shenzhen Composite IndexSwitcharcadegames.00%, the gem index rose by 1.98%. The net purchase of northbound funds reached 9.938 billion yuan, and the turnover in Shanghai and Shenzhen exceeded trillion yuan for the fourth consecutive trading day.

More than 4500 stocks rose in Shanghai and Shenzhen today. From a sub-plate point of view, construction machinery, daily chemicals, petrochemical, chemical fiber, biotechnology and other plates strengthened across the board, while brokerage stocks and insurance stocks rose generally; in intraday trading, the ST plate fell by the stop tide, and the Wande ST plate index fell by more than 1% St Lunda, ST Beauchamp, ST Poly and other stocks fell by the daily limit, while telecom, precious metals, oil and gas and other plates were shaken and adjusted.

During the holidays, the Hong Kong stock Hang Seng Index rose more than 4% to achieve "nine Lianyang". On May 6, Hong Kong stocks continued to rise, with the main index rising as of press time, and the Hang Seng Technology Index up more than 1%. In terms of individual stocks, ideal cars and pharmaceuticals rose more than 6%, and Weilai rose nearly 4%.

A number of institutions believe that the over-pessimistic expectations of the market at the beginning of the year have been gradually corrected from low levels, global confidence in the allocation of Chinese assets has rebounded, Chinese assets have become a more cost-effective choice, and A-shares are expected to rise in shock.

Guotai Junan pointed out that after the decline at the beginning of 2024 and the adjustment of all-A majority stocks from March to April, stock market expectations were low, valuations were low, and positions were also low, while the consensus that they were consistently low implied room for unexpected returns and a more positive response to marginal good. The reduction of uncertainty from the economy, policy and stock market is expected to promote the improvement of investors' risk acceptance, expected repair and replenishment of positions, and investment opportunities are expected to rise in shock and rise in the middle of the year.

Societe Generale Securities said that recently there has been a large inflow of foreign capital into and long China, and Chinese assets have both victory and odds. First of all, the over-pessimistic expectations of the market at the beginning of the year have been gradually rectified by economic data and policies. At the industry level, the recent northward funds mainly increase positions in banks, non-ferrous metals, power equipment, medicine, biology, food and beverage and other sectors. The entry of foreign capital will resonate with all kinds of domestic institutions, and the "assembly number" of core assets has been sounded.

In terms of allocation, Huatai Securities believes that market sentiment may improve in the short term under internal and external catalysis, and tactically, it may be possible to focus on Hong Kong stocks and the CSI 300 Index which benefit from the return of overseas liquidity "pendulum". Dividend assets are still a medium-term bottom choice, and if adjusted, it may bring allocation opportunities. In the short term, we can pay attention to white electricity and dairy products in A-shares, big finance and public utilities in Hong Kong stocks, and look for the direction of sustainable improvement of ROE in the medium term; in terms of prosperity, supply decompression and external demand may still be the main clues.