The three major A-share indexes closed slightly lower, and the tourism and hotel sector surged.

On November 28, the three major indexes jumped sharply in early trading and then bottomed out and rebounded. However, the rebound was limited. By midday, the three major indexes all fell by more than 1%. In the afternoon, the two markets still maintained weak fluctuations within a narrow range, and the decline narrowed in late trading. The Shanghai stock market even strongly covered the downward gap that day.

As of the close on November 28, the Shanghai Composite Index fell 0.75% to 3078.55 points; the Science and Technology Innovation 50 Index fell 0.72% to 992.81 points; the Shenzhen Component Index fell 0.69% to 10829.08 points; Entrepreneurship The Shanghai Stock Exchange Index fell 0.46% to 2,298.8 points.

Statistics show that 1,495 stocks in the two cities rose, 3,331 stocks fell, and 161 stocks were flat.

On November 28, the total transaction volume of the Shanghai and Shenzhen stock markets was 758.3 billion yuan, an increase of 18.4 billion yuan from the 739.9 billion yuan on the previous trading day. Among them, the Shanghai stock market turnover was 338.5 billion yuan, an increase of 13.1 billion yuan from 325.4 billion yuan on the previous trading day, and the Shenzhen stock market turnover was 419.8 billion yuan.

On the Shanghai and Shenzhen stock exchanges***, 51 stocks rose by more than 9%, and 11 stocks fell by more than 9%.

The net sales of northbound funds narrowed significantly at the end of November 28, with a total net outflow of 3.76 billion yuan. Among them, the Shanghai Stock Connect had a net outflow of 4.17 billion yuan, and the Shenzhen Stock Connect had a net inflow of 411 million yuan.

Tourism hotels bucked the market trend and strengthened, while banks and non-bank finance led the decline in the two cities.

In terms of sectors, tourist hotels bucked the market trend and strengthened. The catering and tourism sector led the gains in the two cities. Huatian Hotel (000428), Emeishan A (000888), etc. hit their daily limit, while Junting Hotel (301073), Uxin Travel (002707), China Youth Travel Service (600138), etc. rose by more than 7%.

Media stocks performed actively, with China Publishing (601949), China Science and Technology (601858), Business Bao (002095), etc. hitting the daily limit, Tianwei Video (002238), Hua Media Holdings (000607), etc. rising by more than 5 %.

Banks and non-bank finance led the decline in the two markets, with China Galaxy (601881), Caida Securities (600906), Dongxing Securities (601198), China CITIC Bank (601998), Bank of Ningbo (002142) and others falling more than 3%

Pharmaceuticals and biopharmaceuticals were among the top decliners. WuXi AppTec (603259) once hit the limit, while Innovative Healthcare (002173), Jinling Pharmaceuticals (000919), Xingqi Eye Medicines (300573), etc. fell more than 5%.

The mid-term upward trend of A shares has not ended

Guosheng Securities believes that although the momentum of the recent market rebound has weakened, the mid-term upward trend of A shares has not ended. In terms of operation, in the short term, it is recommended to focus on real estate development, banks, Zhongzitou and other sectors that benefit more from policies; in the medium term, continue to focus on photovoltaics, energy storage, wind power, computers, domestic software and other related sectors that continue to be highly prosperous.

Industrial Securities pointed out that the market has been in shock again recently, and the core lies in the recurrence of risk appetite. But we believe that there is no systemic risk in the market. Structurally, we will follow the trend and pay attention to the low valuation repair opportunities of state-owned enterprises and central enterprises in the short term. In the medium and long term, we will continue to pay attention to the main lines such as "science and technology innovation".

China Merchants Securities pointed out that the recent announcement by the central bank to lower the required reserve ratio has once again confirmed that the current tone of monetary policy has not changed significantly, boosting short-term market sentiment. The profits of industrial companies bottomed out in October, and A-share performance may still be under pressure in the fourth quarter. Taking into account the recent cooperation and guidance of a series of financing support policies, the probability of increasing stabilizing growth policies has further increased. In terms of industry configuration, it is recommended to focus on stabilizing real estate, medical care, computers, and equipment manufacturing that benefit from improved liquidity and prosperity, and profitability has improved significantly. In the medium and long term, it is still recommended to continue the layout of the "Five Golden Flowers of the New Era".

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