I originally thought that the previous round of high dividend adjustments had reached their position, coupled with the completion of the bottoming structure of the ChiNext Index, there could be a general rebound, but I didn't expect that funds would start to group together for high dividends again. Today, banks were pulled up to support the market, while the ChiNext Index and the STAR 50 continued to adjust, and they are about to hit new lows. This is the worst script. It's no wonder that A-shares can still maneuver with a volume of 500 billion, eating rebounds on one side and then eating the other side.

After A-shares closed last Friday, I saw how much the pharmaceutical stocks in Hong Kong stocks rose, with WuXi AppTec and WuXi Biologics both rising by more than 10%. When it came to today's A-shares, they opened high and closed low, with WuXi AppTec's increase being less than 3%. This is too disgusting. Institutions see good news as a chance to sell, and the bad ecology is no wonder that foreign capital doesn't play here. Recently, Hong Kong stocks have shown a bull market trend, while A-shares still look like they are about to hit new lows.

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Let's look at the heavy news:

The central bank conducted a reverse repurchase operation of 7.45 billion yuan for 14 days today, with a winning interest rate of 1.85%, which was previously 1.95%; it conducted a reverse repurchase operation of 16.01 billion yuan for 7 days, with a winning interest rate of 1.70%, which was the same as before. Because there was a maturity of 13.87 billion yuan for 7-day reverse repurchase today, a net injection of 9.59 billion yuan was achieved.

The interest rate of this 14-day reverse repurchase operation was reduced by 10 basis points, which is a supplementary reduction following the reduction of 10 basis points in the interest rate of the 7-day reverse repurchase operation in July, and it is not significant.It is worth mentioning that a press conference will be held tomorrow morning at 9 o'clock, with Pan Gongsheng, Governor of the People's Bank of China, Li Yunze, Director of the China Banking and Insurance Regulatory Commission, and Wu Qing, Chairman of the China Securities Regulatory Commission, introducing the financial support for high-quality economic development and answering questions from journalists. Let's see if there is any incremental information.

Last week's explosion of communication equipment in Lebanon sparked distrust in the Western industrial chain in the Middle East. This is a qualitative statement, and there is certainly some degree of distrust, but how much distrust there is and what measures will be taken are uncertain. Then there are various speculative reports, claiming that the Middle East is frantically placing orders and that Apple is being boycotted. Over the weekend, there was even news of a $670 billion order, which feels a bit insulting to intelligence.

Coincidentally, the A-share market is also a place where intelligence is not required. Hytera Communications has been continuously hitting the daily limit for three days, and today the market has even started to speculate on the domestic substitution of intelligent driving. Mainly, nearly 28% of China's smart cars use products from the Israeli company Mobileye, which poses a security risk. Therefore, the market believes that the domestic substitution will be accelerated, and the A-share intelligent driving sector has risen sharply, with Siwei Tu Xin hitting the daily limit.

Today, the inverter sector plummeted, with Deye Shares hitting the daily limit down, and institutions interpreted that Pakistan reduced electricity prices, and the Middle East's 20GWH project system price quote was too low. Whether it's true or not, I don't know, but in any case, all falls are considered bearish.According to a report from Caixin, the latest wholesale reference prices disclosed today show that on September 23rd, the 2024 Feitian Moutai original box was reported at 2,365 yuan/bottle, a decrease of 25 yuan from the previous day; the 2024 Feitian Moutai loose bottle was reported at 2,250 yuan/bottle, a decrease of 20 yuan from the previous day.

As reported by Caixin, the U.S. Department of Commerce intends to propose a ban today on the use of Chinese software and hardware in smart connected vehicles and vehicles with autonomous driving technology on the mainland of the United States.

Today, during the trading session, COMEX gold reached a new high of over 2,655 USD/ounce, and the main gold futures contract on the Shanghai Futures Exchange touched 595 yuan/gram, with a gain of 1.35%, continuing to set a historical high. So far this year, it has risen by more than 20%. Logically, gold should experience a phased retreat after the Federal Reserve's interest rate cut, but judging by the current trend of gold, it seems to be pricing in a U.S. economic recession. However, U.S. stocks and bonds are pricing in a soft landing. We will have to wait and see who is correct. Apart from AI, I am determined not to touch high-position assets.

Lastly, taking a brief look at the market, as of the close, the Shanghai Composite Index rose by 0.44%, the ChiNext Index fell by 0.40%, the Hang Seng Index in Hong Kong fell by 0.06%, and the Hang Seng Technology Index fell by 0.15%. The total turnover in the two markets slightly shrank to 0.55 trillion, with roughly an equal number of gains and losses.Looking at the industries, coal, banking, home appliances, light manufacturing, and public utilities sectors led the gains, while agriculture, forestry, animal husbandry, fishery, pharmaceutical and biological, beauty care, and power equipment sectors led the declines.