A shares rose across the board on the 10th, with the Shanghai Composite Index up 0.96% and more than 3,400 shares floating red.

　　Beijing, May 10 (Xinhua), the client of Chinanews.com, was not affected by the overnight decline in European and American stock markets. A shares rose across the board on the 10th, with technology stocks such as food and beverage, brokerage and 5G concept leading the gains, while other sectors such as hydrogen energy, industrial hemp and second child concept were eye-catching.

　　Overnight (May 9), European and American stocks closed down across the board. The US stock market Dow fell 0.54%, the Nasdaq fell 0.41%, and the S&P 500 index fell 0.30%, hitting a new low since April 2. STOXX Europe 600 Index decreased by 1.65%.

　　On May 10th, the Shanghai Composite Index opened at 2878.23 points, an increase of 0.96%. The Shenzhen Component Index reported 8988.92 points, up 1.26%; Growth enterprise market index reported 1489.19 points, up 1.34%.

　　On the disk, individual stocks generally rose. At present, more than 3,400 stocks in the two cities rose, and less than 200 stocks floated green. Shipping, brewing, brokerage, software services, communication equipment and other industry sectors were among the top gainers.

　　In recent trading days, the Shanghai Composite Index fluctuated repeatedly below 2900 points, and the market trading activity dropped significantly. The single-day turnover of the two cities in the past two days was less than 500 billion yuan.

　　China securities journal’s article said that in retrospect, the A-share bull market has always gone up and down sharply, and on the way up, there will always be one or two "diving" under the joint action of internal and external factors. At present, the market has limited room to fall, and the rebound momentum is gestating.

　　Some analysts believe that the trend logic behind the stock market operation has not changed since the beginning of the year, and the main contradiction in the market operation will shift from interest rate downward policy friendliness to economic recovery and fundamental inflection point.

　　According to data released by the National Bureau of Statistics on the 9th, the consumer price index (CPI) rose by 2.5% year-on-year in April, hitting a six-month high and rising by 0.1% quarter-on-quarter. In April, PPI rose by 0.9% year-on-year, with an increase of 0.5 percentage points from the previous month and 0.3% from the previous month.

　　Northeast Securities believes that the market may overestimate the pressure of rising inflation on future monetary policy, and the price increase of pig price list varieties has not spread, and the probability of marginal monetary policy turning loose in the future is greater, which will help improve the liquidity of the stock market.

　　According to data released by the People’s Bank of China on the 9th, RMB loans increased by 1.02 trillion yuan in April, a year-on-year decrease of 161.5 billion yuan. At the end of April, the balance of broad money (M2) was 188.47 trillion yuan, up 8.5% year-on-year, and the growth rate was 0.1 percentage point lower than that at the end of last month.

　　Experts believe that the growth rate of social financing dropped slightly in April, but the overall growth continued to rebound, indicating that the financing environment of the real economy still improved compared with 2018.

　　In the view of some research institutions, the decline in new credit in April was mainly due to seasonal factors, and the credit expansion rate was generally stable. The tone of prudent monetary policy has not changed. It is still the key to steady economic growth to dredge the transmission mechanism of monetary policy and keep the "quantity" moderate and "price" reasonable in the future.

　　Li Jing, vice chairman of JPMorgan Chase Asia-Pacific region, also said recently that she is optimistic about the performance of China stock market. Loose fiscal and monetary policies and moderate economic recovery; Market valuation is more attractive at the beginning of this year; RMB exchange rate is stable; The Fed’s policy stance is more moderate; China’s support for capital market financing policy and other five factors will bring benefits to the stock market.