A-shares closing review: Completely boiling! ChiNext index rose more than 5.5%, Maotai (600519.SH) surged and hit the limit.

ital IntelligenceBank of ShanghaiYinhua FundChina Merchants Bank Overall, on September 24th, "One Belt, One Road, One Round" made a significant statement! The reserve requirement ratio was reduced by 50 basis points, the 7-day reverse repurchase rate was lowered by 20 basis points, existing housing loan rates were lowered, and new policy tools were introduced to support the stock market development... Stimulated by the news, all three major indexes surged throughout the day, with the trading volume in Shanghai and Shenzhen reaching 971.3 billion, compared to 420.3 billion on the previous trading day, and over 5100 stocks in the market rising. By the close, the Shanghai Composite Index rose by 4.15% to reach 2850 points, the Shenzhen Component Index rose by 4.36%, and the ChiNext Index rose by 5.54%. Noteworthy was that the leading Chinese liquor company Kweichow Moutai surged by 8.8%, with a trading volume exceeding 10 billion for the third time this year. On the market, the financial industry saw a strong surge, with multiple financial, brokerage, insurance, and banking stocks leading in both Shanghai and Shenzhen. Steel and other cyclical industries also performed strongly, as well as the new energy industry chain. Some high-priced stocks experienced a pullback. In terms of institutional views, various reports suggest that the current market favors cash cows, cyclical stocks, and SOEs. There is an expectation of continued strength in these sectors and that new policies, both fiscal and monetary, will support their growth. Furthermore, specific sectors like steel, real estate, mergers and acquisitions, and the financial industry were particularly active, while the release of new products by Huawei and other technology companies were also closely followed.Italian, Holly Futures, Kunwu Jiuding Investment Holdings and more than 10 other stocks hit the daily limit price increase, East Money Information rose more than 10%.Review: On the news front, Pan Gongsheng, the Governor of the People's Bank of China, announced at a press conference at the State Council Information Office on September 24 that the central bank will create convenience for securities, mutual funds, and insurance companies to exchange assets, support eligible securities, mutual funds, and insurance companies to obtain liquidity from the central bank through asset pledging, significantly enhancing their ability to obtain funds and increase stock holdings. This article is reprinted from "Tencent Self-selected Stocks", edited by Li Fo.