The bottom of the two cities rebounded in the afternoon, rising stocks increased significantly, and the three major indexes closed with a long shadow. Medicine plate pulled up in the afternoon, Watson biology, Heng Rui medicine once impact the limit; semiconductor chips, real estate, photovoltaic and other plates have been pulled up.

On the whole, individual stocks generally rose, with more than 2700 shares floating red, and the turnover on the Shanghai and Shenzhen stock markets exceeded trillion yuan for the 14th trading day in a row. Gem new shares Longhua new materials closed up 146%, Qiang Rui technology closed up 88%, all triggered a second temporary stop in intraday trading.

By the close, the Prev index was down 0.41%, the Shenzhen index was down 0.38%, and the gem index was down 0.3%. Northbound funds sold 11.81 billion yuan in net sales throughout the day, the highest since July 26, the fourth consecutive day of net sales.

　　Collective flameout of new energy industry chain

Today's A-share market, the new energy industry chain collectively flameout. Ganfeng Lithium and Tianqi lithium industry have plummeted, and the Ningde era has fallen by more than 2%.

The adjustment of the new energy industry chain today is first of all affected by the mood of Tesla, Inc.. Tesla, Inc. shares fell nearly 12 per cent on Tuesday after falling 4.8 per cent local time on Monday. Tesla, Inc. is an important customer of many A-share new energy industry chain companies.

As for the reason why Tesla, Inc. has adjusted so violently recently, we have to talk about it a few days ago.

On Nov. 7, Musk launched a survey on social media asking his fans whether he should sell 10 per cent of Tesla, Inc. shares.

In the end, nearly 60% of netizens voted in favor, and Musk himself said that no matter what the result, he would "abide by the result of the vote." This directly led to the collapse of Tesla, Inc. 's share price emotionally.

The most direct trigger for Musk's move is the recent emergence of a proposal for billionaire income tax in the United States.

A key point of the proposal would be a tax on "unrealized gains" on assets held by about 700 billionaires in the US, that is, an annual valuation of billionaires' assets, regardless of whether they sell or not.

Musk explained that because he "does not get cash salary or bonus from anywhere, only stocks, so the only way for individuals to pay tax is to sell shares."

However, some netizens are not convinced by Musk's statement, questioning that Musk wants to cash out at a higher level, and some are worried that Musk's move may attract inquiries from SEC again.

According to relevant media reports, Kimbal Musk, the younger brother of Tesla, Inc. CEO Musk, sold 88500 Tesla, Inc. shares on November 5, accounting for about 15 per cent of his shares. It is reported that Kimbal Musk sold the shares through JPMorgan Chase & Co at an average price of $1229.91 per share, with a total value of about $109 million.

Secondly, there is a lot of good news about the new energy industry chain recently. in this context, there are also funds cashing in with the good news.

Finally, the decline of the consumer sector and the large-scale selling of foreign investors all contributed to the sharp decline of A-shares in early trading today.

　　China Merchants, is the tactical spell coming?

In addition to the above reasons, there are veteran investors who threw the pot that once plummeted in the market today at China Merchants's annual strategy meeting. Today, China Merchants held the 2022 capital market annual meeting with the theme of "rebalancing the sea of stars" as scheduled.

Frankly speaking, it is a bit unfair for China Merchants to bear the burden of today's sharp fall. However, since some investors have mentioned that China Merchants's strategy will be a curse, let's talk a little bit about this so-called A-share curse today.

Historically, there is indeed a certain coincidence between the timing of China Merchants's annual strategy and the decline of A-shares.

For example, during the Investment Promotion 2012 Strategy meeting from December 13 to 14, 2011, the Prev fell 1.87% on the first day.

Similarly, at the same time in 2012, during China Merchants's 2013 annual strategy meeting, the Prev fell 0.66% on the first day; 1.49% on the first day during the 2014 annual strategy meeting; and 5.43% on the first day during the 2015 annual strategy meeting. but rebounded sharply the next day.

But not every time China Merchants holds an annual strategy meeting, A shares will plummet. For example, the three major indices of A shares rose on the first day of the 2019 strategy meeting held at the end of 2018.

And China Merchants strategy will spell the same as the so-called "419 spell" and so on.

But whether it is "419 spell" or "China Merchants strategy will spell", these are just excessive associations with no scientific basis. At best, it can only be regarded as a joke, not taken seriously.

The right way to invest in stocks is to constantly improve their cognitive level and rely on their own cognition to realize.

　　Outlook for the future of A-share market

Recently, the disk theme rotates relatively fast, especially the theme of the growth direction, the fourth quarter is the vacuum period of the performance factor, and it has become the honeymoon period of the current theme hype.

As for the future of A-shares, Huaxi Securities believes that the current A-shares are in the stage of "steady economic growth pressure + counter-cycle, cross-cyclical policy waiting force + enterprise performance vacuum period".

With the supply and price stability in various places, the pressure of "inflation" is expected to ease in the first quarter of next year, while the downward pressure on the economy continues to show. Under the goal of stable growth and stable employment, macro liquidity is expected to remain relatively abundant in the fourth quarter. Instead of following the Fed's withdrawal of water, it also sets the tone for the A-share "New year market".

Everbright Securities said that the current market lacks significant hot spots to lead gains, and the stock game has obvious characteristics. Whether the stock index can break through the market situation in the future still needs to be boosted by external forces, and it is necessary to pay close attention to the changes in the policy side and the capital side.

It is expected that the Prev short-term small shock is more likely, the gem short-term small upward is likely to be greater. Configuration, from cycle to consumption, from high valuation attack to low valuation defense.