Market review:
China stock run a big vola as Q1 GDP release today. Almost all data were above the expectations, with GDP and M2 fell in line with the expectations.
Research Notes:
Money outflowed from Highway Construction, Entertainment and Hotel sectors the most. Jinma Corp(000980.sz), an automobile equipment manufacturer rallied to limit-up, for its taking-over of Zhongtai Automobile and entered the new energy car market.
Though profit-taking ‘s obvious in both equity and commodity market with coal futures slumped to limit-down, we maintained our mid-term target of SHA 3200 but the short term retreat could bring the index near 3000 again, which justified some profit-taking and reload some share when such selling maneuver is over.
Copyright by FangQuant.com