A股奇观！大盘连续两天最高多涨1个点——道达投资手记

Market Performance - The A-share market showed mixed results with the Shanghai Composite Index rising by 0.03%, while the Shenzhen Component and ChiNext Index fell by 0.58% and 0.68% respectively [1] - The total trading volume in the Shanghai and Shenzhen markets was 1.109 trillion yuan, a decrease of 120.7 billion yuan compared to the previous day [1] - A total of 1,545 stocks rose, while 3,694 stocks fell, with a median decline of 0.93% in stock prices [1] Technical Analysis - The Shanghai Composite Index has shown a pattern of increasing high points over the last three days, with the highest points being 3,311, 3,312, and 3,313 [2][3] - Technical indicators suggest a potential need for consolidation or correction, as the MACD on the 30-minute chart shows a double top divergence and a death cross on the 60-minute chart [3] - After a 13-day rebound, there is pressure from profit-taking, and the market's ability to break upward may depend on the outcomes of the upcoming Politburo meeting at the end of April [3] Banking Sector Insights - The four major banks have reached historical highs, with Agricultural Bank of China rising by 14.23% since the low on April 7, while Industrial and Commercial Bank of China, Bank of China, and China Construction Bank have increased by 10.45%, 10.40%, and 8.59% respectively [3] - According to a report from China International Capital Corporation (CICC), public funds' allocation to bank stocks decreased to 3.47% in Q1, down 0.2 percentage points from Q4 of the previous year, marking the first decline since the end of 2023 [4] - The banking sector remains underweight by 10 percentage points compared to the overall market, indicating a low allocation by public funds [4] Monetary Policy and Economic Measures - The People's Bank of China announced a 600 billion yuan MLF operation on April 25, which will result in a net injection of 500 billion yuan after accounting for 100 billion yuan maturing [5] - The recent monetary policy has shown a tendency towards moderate easing, with the central bank's actions reflecting a supportive stance for economic stability [5] - Shanghai's new measures to accelerate the development of the commercial aerospace manufacturing industry include financial subsidies for key products, with support reaching up to 300 million yuan [5] Satellite Internet Growth - The demand for satellite internet is expected to grow significantly due to the limitations of existing communication networks and the requirements of emerging industries like autonomous driving and IoT [6] - The commercial aerospace satellite communication industry is projected to see an overall increase of approximately 653.6 billion to 765.5 billion yuan from 2024 to 2030 [6] - The acceleration of low-orbit satellite launches in China is anticipated to lead the commercial aerospace industry into a high-growth cycle [6]