Major Players Look at Themselves
We're looking at today's A-share market.
The entire index explored its bottom and rebounded, with all three major indices rising slightly, with the Shanghai Composite Index up 0.65%, the Shenzhen Component Index up 0.62%, and the ChiNext Index up 0.5%.
Most individual stocks fell or rose modestly, with over 2,900 individual stocks declining on the two markets, with turnover reaching 94.46 billion yuan, down 36.5 billion yuan from yesterday.
Northbound funds increased their buying power in the afternoon, and the day's net buying reached 48.07 billion yuan.
The market's performance was driven by the rebound of consumption concept stocks, particularly hotels, tourism, home appliances, pork, and retail in the afternoon. Additionally, oil, gas, and storage chip concept stocks surged, while financial stocks showed unusual movements.
On the other hand, digital economy and ChatGPT concept stocks collectively adjusted downwards.
From a news perspective:
Last night, China Mobile issued an announcement stating that it would participate in Postal Savings Bank's capital increase with a premium of over 40%, but today the bank only rose by 3.66%.
The "three barrels" of A-shares also released their annual reports last night, with Sinopec leading the way, reporting net profits of 1493.80 billion yuan, a historic high. China Petroleum and Chemical Corporation followed closely, while China National Offshore Oil Corporation's performance lagged behind.
From a stock price perspective:
Sinopec had the largest gain today, rising by 6.95%.
Why did it rise so sharply?
Because it plans to repurchase up to 10% of its own shares through a buyback plan, which is a genuine case of looking at oneself and acting on one's own behalf.
Last night, China Petroleum Corporation also released the minutes of its eighth board meeting, including a resolution allowing the board to repurchase shares within certain limits.
This authorization will allow the board (or authorized directors) to repurchase up to 10% of the company's outstanding A-shares or H-shares during the authorized period.
Additionally, in 2022, the company distributed a total of 773.41 billion yuan in cash dividends, with a payout ratio of 51.78%.
Based on the closing price of December 31, 2022, the cash dividend yield corresponds to an annualized yield of 8.50%, which is not too low.
There's also rumors about "buying a house and getting home appliances", but it was later denied. The market expects economic recovery to be lower than expected, with policy stimulus on the way, driving up consumer goods and hotel tourism, retail, and electronics sectors.
Then there's today's trading:
Today is the 35th consecutive day of automatic investment for our "bird's nest" fund, which invests 1,000 yuan each time.
As of now, the total investment is 41,000 yuan, with a cumulative loss of 236.68 yuan (as of March 29th).
After upgrading to a managed portfolio, our "bird's nest" fund has been running for 336 days, with a cumulative return of 2.85%, maximum drawdown of -3.76%, and annualized return of 3.19%.
Our "bird's nest" fund will continue to invest every Thursday, and we'll also update the portfolio returns on each Thursday. Welcome everyone to supervise and even join in on the investment!
This article was first published on WeChat public number:菜鸟理财. The views expressed in this article are those of the author and do not represent the stance of Hexun. Investors should use their own judgment when making investment decisions.