In early trading today, A shares fluctuated slightly, with a shrinking trend in trading between the two cities. On the disk, electricity, grain concept, water, pork and other plates led the rise, while glass substrates, low-altitude economy, PEEK materials, memory chips and other plates led the decline.
Affected by the bad news, the Hong Kong stock Kang Bio plunged sharply in early trading. At one point, the share price fell nearly 45%, and the share price fell as low as 26%.Boxingpunchmachine.45 Hong Kong dollars, the lowest in a year and a half, with a turnover of 1.55 billion Hong Kong dollars in just one hour of trading, more than five times higher than yesterday's daily turnover of 254 million Hong Kong dollars.
According to the market, the clinical data of Kang Fang Biological AK112,EGFR-TKi in the treatment of non-small cell lung cancer (NSCLC) in China's III phase is lower than expected.
Driven by the sharp fall in Kangfang Biological Co., Ltd., pharmaceutical stocks in the entire Hong Kong stock market fell sharply. At one point, the China Hong Kong Biotechnology Index fell nearly 9%, and the Hang Seng Innovation Drug Index fell more than 7% at most. Liankang Biotechnology Group, Lepu Biology, Junshengtai Pharmaceutical and other leading declines.
The funds in the top 10 declines in ETF are all related to the Hong Kong pharmaceutical sector and are all down more than 3 per cent.
Electric power stocks make waves again.
Power stocks strengthened across the board in the morning, especially in the direction of new energy green power. The volume of the power sector index rose more than 2 per cent, reaching a nine-year high since August 2015, with half-day turnover exceeding that of yesterday. Chendian International limit, Guangxi Energy opened sharply after the second limit, Leshan Power (600644), Star Power (600101) and so on are straight-line limit.
The green power plate set off a daily limit of 20%, while Jiuzhou Group also rose by 20%, and its share price reached an one-year high, rising more than 60% in the past month. Jiawei Xinneng (300317), Hunan Development (000722), electricity production and other more than 10 shares rose by the limit or more than 10%.
Subdivision plates such as virtual power plant, supercritical power generation, UHV, smart grid, photovoltaic and wind energy are also strong one after another. Zhong Zhi Technology opened only 3 minutes straight 20% limit, Core Energy Technology (603105), Dalian Thermal Power (600719) and so on. The funds with the top 10 gains in ETF are all related to electricity.
According to the Central Meteorological Observatory, although there are more Rain Water in southern China recently, the northern region has gradually begun to enter the summer high temperature period. in late May, the temperature in many places increased significantly, which was 2 ℃-3 ℃ higher than that in the same period of normal year. The temperature in Hebei, Tianjin, Shanxi, Shandong, Henan and other provinces (cities) will rise to around 35 ℃, among which the daily maximum temperature in Shijiazhuang, Zhengzhou, Xi'an and other provincial capitals may exceed 35 ℃. In this context, the market generally expects a surge in electricity demand, and it is expected that power "to meet the peak and spend the summer" will be started ahead of schedule.
In addition, yesterday, "2024 China International Electric Power Industry Expo and Green Energy equipment Expo" opened. With the theme of "Green Development and dynamic Future", the Expo brings together more than 300 well-known exhibitors at home and abroad to display thousands of high-quality products of the electric power and energy industry. Many technologies and equipment representing the first-class domestic and international water, wind, light, hydrogen, natural gas and other green energy industries were unveiled, showing the new productivity of China's power system and green energy industry in a panoramic view.
Changjiang Securities believes that the current investment in Green Power is at the inflection point of the triple bottom.Boxingpunchmachine1. The external catalysis brought about by the successive introduction of the green power policy and the collection of EU carbon border tariffs may mean that the green power industry will officially usher in the policy inflection point.
2. SASAC will carry out the market value management assessment of listed companies in 2024 and the central power generation enterprises in order to complete the listing and financing of new energy assets, their own higher management requirements for market value will also become a subjective inflection point.
3. The current PE valuation of new energy power generation operations is only in the 10% quantile since September 2020, which is already at an absolute low. Therefore, under the resonance of the triple bottom, new energy power generation will usher in an excellent allocation opportunity.
The supply of live pigs goes down, the price goes up, the cost goes down.
Agricultural stocks also strengthened collectively in the morning, with the pork concept leading the way, with the intraday volume of the sector index rising more than 2%, approaching the highest point of the year. Zhenghong Technology (000702) rose for the fifth day in a row, with its share price reaching a 21-month high, while New Wufeng (600975), Tang Renshen (002567) and Shanghai Meilin (600073) were among the top gainers.
The concept of grain, chicken, artificial meat, chemical fertilizer, land transfer, prefabricated vegetables and other plates have also strengthened, Wanfang Development (000638), Boen Group and so on.
On May 23, the average price of lean pigs nationwide was 15.92 yuan / kg, up 0.2 yuan / kg from the previous day, according to Souzhu. Prices across the north and south generally showed a marked increase of 0.15 yuan / kg-0.4 yuan / kg. Pig prices in some places have exceeded 17 yuan / kg, and the increase in the market is further expanding.
After continuous production capacity, the stock of fertile sows gradually tends to the normal level. Data from the Ministry of Agriculture and villages show that at the end of the first quarter of 2024, 39.92 million sows were kept in the country, down 7.3 percent from the same period last year, equivalent to 102.4 percent of the normal population of 39 million, which is in the green and reasonable area of production capacity regulation.
Data from the National Bureau of Statistics also showed that 408.5 million pigs were kept at the end of the first quarter, down 5.2 percent from the same period last year; 194.55 million pigs were fenced in the first quarter, down 2.2 percent from the same period last year; and national pork production in the first quarter was 15.83 million tons, down 0.4 percent from the same period last year.
In addition to the decrease in supply and the rise in prices, the price of feed in the upper reaches of pigs has declined continuously. According to the statistics of the National Development and Reform Commission, the average feed price of fattening pigs was 3.16 yuan / kg in May, down 3 wool / kg from the same period last year, which is basically the lowest level in nearly four years. The cost of retail farming is basically 14 yuan / kg-15 yuan / kg. As the price of pork rose, farming began to make a profit.
Guojin Securities said that pig production capacity has been eliminated for 15 months, and pig production capacity is at its lowest level since 2021. According to the estimation of the stock of breeding sows, the supply of live pigs around April began to be lower than that of the same period last year, and the decline gradually expanded. It is expected that with the gradual weakening of the impact of weight reduction, the supply-side gap is gradually reflected, pig prices are expected to continue to rise, and give good profits in the second half of the year. Value the high-quality enterprises that have excellent cost-side control and can continue to expand.