what digital currency to invest in 2020, People also ask

At present, the global macroeconomic environment is still complex and changeable. Although the domestic economy has generally maintained a stable recovery trend, it still faces many challenges in the context of the global economic slowdown. Although the tension of international trade has eased, uncertainty still exists, and the operating pressure of some export-oriented enterprises has not been fundamentally alleviated, which has affected the market's expectation of overall economic growth to a certain extent, and then reflected in the trend of A-share market. In addition, recent fluctuations in some macroeconomic data, such as marginal changes in manufacturing purchasing managers' index (PMI), have also made investors more cautious in judging the economic prospects, which has become one of the deep-seated reasons for the lack of market confidence and the downward trend of the index after opening higher in the morning.Third, tomorrow's A-share market inferenceThe tightness of funds has a key impact on the trend of A-share market. Recently, the overall market liquidity is in a relatively stable but not loose state, and the entry speed of incremental funds is relatively slow. After opening higher in early trading, due to the lack of sufficient follow-up funds, it is difficult for the market to maintain a high increase. At the same time, investors' mood changed greatly in the process of opening higher and then going lower in the morning. When the market opened higher, the optimism of the market briefly warmed up, but with the decline of the index, pessimism gradually gained the upper hand, which further aggravated the selling pressure of the market and formed a vicious circle, making it difficult for the index to obtain effective support and rebound during the decline.

(B) Macro policies and news expectationsConsidering the current situation of market segmentation today, tomorrow's plate rotation will play a key role in the market trend. Although the financial sector changed in early trading today, it failed to continuously lead the market to rise. If the financial sector, especially the banking and securities sector, can rise again tomorrow under the impetus of favorable policies or expected improvement of its own performance, it is expected to stabilize the market index and drive the market sentiment to rebound. For example, if there are positive signals such as the improvement of net interest margin and the improvement of asset quality in the banking sector, it will attract capital inflows and provide solid support for the upward movement of the index.From the internal structure of the market, the phenomenon of plate differentiation is more prominent. The weighting sectors such as finance in early trading once drove the index to open higher, but the follow-up of other sectors was weak. On the one hand, science and technology growth sectors, such as artificial intelligence and semiconductors, which had a large increase in the previous period, are facing profit-taking pressure. With the recent gradual increase in the valuation of related sectors, some investors choose to lock in profits, and funds flow out of these high-valuation sectors, which has a certain impact on the overall popularity of the market. On the other hand, the traditional cyclical sectors, such as steel and coal, are relatively depressed due to multiple factors such as overcapacity, environmental protection policies and fluctuation of downstream demand, and failed to form effective support after the index opened higher, resulting in the lack of core driving force for sustained growth in the market, and finally moved towards a low trend.

From the perspective of capital flow, if the market as a whole shows a rebound trend tomorrow, it is expected that some off-exchange funds will gradually flow in, especially the institutional funds that have been waiting and seeing in the early stage may increase the allocation of high-quality blue-chip stocks and leading enterprises in growth stocks. In the process of market decline, funds may flow from the high valuation plate to the low valuation defensive plate or the early oversold plate to seek hedging and arbitrage opportunities.At the same time, changes in news at home and abroad will also have an important impact on A shares. Internationally, the results of monetary policy meetings in major economies and the latest progress in international trade negotiations may trigger global market fluctuations, which will then be transmitted to the A-share market. For example, if the Fed releases a dove signal, it will help global funds to return to emerging markets, including the A-share market, and provide external assistance for the index to go up. In China, industry-level policy news, such as the adjustment of centralized purchasing policy in pharmaceutical industry and the continuation or optimization of subsidy policy in new energy automobile industry, will directly affect the trend of related industry sectors, and then have a chain reaction to the pattern of the whole A-share market.The technical forms of Shenzhen Stock Exchange Index and Growth Enterprise Market Index are similar to those of Shanghai Stock Exchange Index, and they both face short-term technical adjustment pressure. Shenzhen Stock Exchange means that if the closing price of tomorrow is lower than today's low, and the technical indicators such as relative strength index (RSI) continue to weaken, it may further test the bottom area of the previous box consolidation. Growth enterprise market refers to the supporting role of its 20-day moving average after experiencing today's high opening and low going. If we can hold the moving average and some growth sectors can stop falling and stabilize, the GEM index may be able to maintain a relatively stable range fluctuation in the short term; If it falls below the moving average and the trading volume is enlarged, it may pull back to a lower level, dragging down the whole market sentiment.