Shanghai Index Closes the Month Steadily, Blue-Chip Stocks Favored by Funds
The Shanghai and Shenzhen stock markets rose and fell in the morning today, and fluctuated narrowly in the afternoon. In the end, the Shanghai Composite Index fell 0.26%, the Shenzhen Composite Index fell 0.90%, the ChiNext Index fell 1.55%, the Sci-Tech 50 Index fell 1.12%, and the Beijing Stock Exchange 50 Index fell 0.12%. Turnover on the two markets exceeded 1.03 trillion yuan. Among sectors, home appliances, coal, and textiles and clothing rose the most, while construction, brokerage firms, and real estate fell the most.
1. Shanghai Index Closes the Month Steadily, Holding Above the 3100 Point Mark
Today is the last trading day of April, and the Shanghai Composite Index closed steadily. After opening lower in the morning, it edged higher slightly, and then adjusted after 10:00 am. In the afternoon, the index fluctuated narrowly, rebounded after 1:40 pm, and fell slightly at the end of the session. At the close, it held above the 3100 point mark.
2. Consumer Stocks Lead Gains, Blue-Chip Stocks Favored by Funds
On the market today, consumer stocks such as home appliances, textiles and clothing, and food and beverage led the gains. Consumer stocks have been performing well recently due to the holiday effect and have been on a continuous upward trend. In addition, blue-chip stocks with low prices and low price-to-earnings ratios such as coal, banks, and oil also performed well, showing that blue-chip stocks are favored by funds.
3. Shanghai Index Closes with Three Consecutive Monthly Yang Lines, Uptrend Steady
The monthly K-line of the Shanghai Composite Index closed with a Yang line in April, and the monthly K-line has closed with a Yang line for three consecutive months. After the sharp rise in February, the Shanghai Composite Index has been steadily climbing since March. It has completed a technical adjustment by trading time for space and fully absorbed the trapped chips in the early stage. At the end of April, it broke through the annual line in one fell swoop, and the upward trend is very steady
