The loosening of the gun in the property market should not be overly imaginative
The mainland stock market continued to weaken, and the Shanghai and Shenzhen stock indexes fell 1.05% and 1.48% respectively. Although all sectors fell across the board, the property sector saw a fine decline, mainly due to the cancellation of the property market restrictions in Shandong Heze, which caused the market to be infinite.
However, there have been many unfavorable news in the pharmaceutical industry recently. The stock continued to be weak and generally fell more than 2% yesterday.
The pace of interest rate hikes in the United States not only affects the US economy, but also suffers from Hong Kong and the Mainland. Hong Kong stocks have been quiet in recent days, and investors generally adopt a wait-and-see attitude. In terms of A-shares, investors’ desire to enter the market declined. The total turnover of the Shanghai and Shenzhen stock markets yesterday was only 217.2 billion yuan, falling to the lowest level in the past three months.
Main capital maintains a net outflow
At present, not only is the transaction low, but the main fund maintains a net outflow. WIND statistics show that in the past month, only one trading day (December 13), there was a net inflow of main capital, and the accumulated net outflow of the main force was close to 300 billion yuan.
The main fund is not willing to enter the market, the index naturally can not afford to rise, the Shanghai Composite Index closed at 2549 points yesterday, the lowest level since November. The market is weak, and several important news to be announced may cause large fluctuations in market conditions.
News about the US Federal Reserve’s interest rate hike, especially the pace of interest rate hikes next year, will have a major impact on the global economy and the direction of the stock market. On the Chinese side, how the central economic work conference will deploy monetary and fiscal policies next year will be the focus of speculation in the coming days.
However, before the emergence of important news, the market speculation was not speculative, only attention to some small news, Shandong Heze canceled the policy of restricted sales, it triggered a hot discussion, some real estate stocks were taken yesterday, the real estate sector fell 0.4% overall, performance Outperform the market.
Heze first line, the housing company is relieved
The local government was also surprised by the news. The Heze Housing and Construction Bureau issued a response saying that in November 2017, after the local restrictions on the purchase of new and second-hand housing, some citizens could not buy suitable housing, but the price of second-hand housing transactions instead. With the rapid growth, in order to promote the stable and healthy development of the real estate market, the authorities decided to cancel the regulations on the restrictions on the new purchase and second-hand housing transfer.
The market generally believes that Heze’s action is the first shot of the property market regulation and relaxation in 2018, I believe that more cities will follow suit next year. At present, the downward pressure on property prices has increased. For housing companies with rising financing costs, they are expected to breathe a sigh of relief.
A-share leading enterprises such as Vanke (000002.SZ) and Poly Real Estate (600048.SH) fell about 0.5% yesterday. Some small and medium-sized real estate stocks performed better. Rongan Real Estate (000517.SZ) yesterday received a net inflow of 41 million yuan of main capital, and its share price was strong. Huaye Capital (600240.SH) soared 9.85%, and Yuetai Shares (600393.SH) also rose 3.07%.
There is downward pressure on property prices, and small and medium-sized housing companies are the first to bear the brunt. Nowadays, the third- and fourth-tier cities are expected to be loosened, which really makes small-scale housing enterprises breathe a sigh of relief. However, if the mainland’s monetary policy does not relax next year, it is believed that the benefits of restricted purchases are still limited, so the development prospects of small-scale housing enterprises are difficult to be optimistic, and investors should not blindly pursue.
In addition to the real estate industry, the pharmaceutical industry has also received much attention. Recently, many cities have tried to purchase quantities, and the market is worried that prices will fall and corporate profits will suffer. In addition, Tong Ren Tang (600085.SH) was exposed to the recovery of expired honey, which made the market worried about the safety and quality of drugs.
Scandals raging Tongrentang continued to fall
Under the unfavorable news, the stock price of pharmaceutical stocks continued to fall. The scandal protagonist Tong Ren Tang fell 4.1% yesterday and has fallen 7.36% since this week. As for other A-share leading pharmaceutical stocks, the three largest stocks with market capitalization, Hengrui Medicine (600276.SH), Yunnan Baiyao (000538.SZ) and Pien Tze Huang (600436.SH), all fell more than 3% yesterday.
Pharmaceutical companies are suffering from negative news in the short term, but the consumption level of the people continues to grow, and the prospects for the pharmaceutical industry are not bad. The National Information Center recently released the “2019 Pharmaceutical Industry Development Report”. It is estimated that the total profit of the pharmaceutical industry in 2019 will be about 23.3 billion yuan, an increase of about 6% year-on-year. With recent adjustments, it may be a time to lower the absorption of quality pharmaceutical stocks.