$SSE Composite Index (000001.SH)$   $Chinext Price Index (399006.SZ)$
First, let's look at the positions of several institutions over the weekend.
CITIC Securities: The balance in style is beginning, and this week the new energy sector faces significant internal capital diversion pressure.
CICC: Keep an eye on some 'old blue chips'.
Such commentary trends are not very friendly to last week’s highly popular high-growth sectors (new energy vehicles, photovoltaics, chips, and military industry).
Additionally, state media emphasized: 'Chip shortage' is not a reason for 'chip speculation'; regulators will firmly curb price-related illegal activities and maintain market price order.
Therefore, chips, new energy vehicles, and photovoltaic stocks have seen considerable declines today...
Let's first talk about 'chip speculation'.
The chip shortage is a fact; prices are largely driven by supply-demand tensions, but there is also a component of price gouging.
Thus, management intervention to regulate prices will somewhat harm the interests of the entire industry chain and is a short-term negative factor.
The chip industry has always been a weak point for our country. Some dealers taking advantage of supply-demand tensions to hike prices could be considered profiteering from national difficulties, which is no exaggeration.
However, in the long term, I believe restrictions on the chip industry are beneficial. If left unchecked, rampant speculators diverting profits improperly would only hinder the development of the chip industry.
Now, let’s talk about 'old blue chips'.
Some blue-chip stocks indeed have fallen into reasonable valuation ranges, such as banks.
But others, like Moutai, dropped from 2,600 to 1,600, yet still hold a P/E ratio of over 40x, which isn’t exactly cheap.
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