豬價(jià)不是當(dāng)前債市的核心因素

1、近期債券市場(chǎng)經(jīng)歷了大幅調(diào)整，債券急跌背后豬價(jià)快速上漲起到了推波助瀾的作用。1024103010bps2489TMLF、公開市場(chǎng)操作也連續(xù)多日暫停，利率出現(xiàn)急跌背后是豬價(jià)快CPI預(yù)期以及貨幣政策保持靜默引發(fā)的市場(chǎng)情緒宣泄。圖1：10月底利調(diào)整度遠(yuǎn)年內(nèi)其個(gè)月（%）圖2：豬肉價(jià)周環(huán)創(chuàng)新（%）2月4月 8月9月 10月1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 3112.0010.008.006.004.002.000.00-2.002019/012019/012019/012019/012019/022019/032019/032019/042019/052019

2、/052019/062019/072019/072019/082019/092019/102019/10資料來(lái)：Wind， 資料來(lái)：Wind， 豬價(jià)推升 CPI 預(yù)期是不是走得太遠(yuǎn)？9 CPI 3%之CPI 3%10 月份以來(lái)豬肉價(jià)CPI 4%CPI 將破 5 甚至破 6。而市場(chǎng)參與者對(duì)豬價(jià)和 CPI 增速的預(yù)期調(diào)整也是造成 10 月底最后一周空頭情緒宣泄、利率大幅調(diào)整的主要原因。隨著豬肉價(jià)格和環(huán)比增速都創(chuàng)歷史新高， 我們對(duì) CPI 增速也進(jìn)行調(diào)整，但我們認(rèn)為 CPI 同比破 4%概率很大但破 5%概率較小。年2018 1012 12 2018 年以來(lái)豬價(jià)上漲啟動(dòng)要早于以往豬周期啟動(dòng)階段，主要

3、也是由于非洲豬瘟導(dǎo)致的生豬存欄銳減。圖3：傳統(tǒng)豬期圖4：本輪豬上漲超歷周（元/公斤）1111112131415161718191101111121131141151161171181191201第一輪第二輪第三輪第四輪資料來(lái)： 資料來(lái)：Wind， 圖5：以往豬期大為12個(gè)（元/公斤，%）圖6：非洲豬導(dǎo)致價(jià)快上（元/公斤，%）2008/072009/042008/072009/042010/012010/102011/072012/042013/012013/102014/072015/042016/012016/102017/072018/042019/012019/102020/07平均價(jià):

4、豬肉:全國(guó):月能繁母豬存欄變化率:同比增減（lag+12）-50-40-30-20-100102008/072009/042008/072009/042010/012010/102011/072012/042013/012013/102014/072015/042016/012016/102017/072018/042019/012019/102020/07平均價(jià):豬肉:全國(guó):月生豬存欄變化率:同比增減(lag+2)-44-34-24-14-46資料來(lái)：Wind， 資料來(lái)：Wind， 本輪豬價(jià)快速上漲除了生豬存欄的大幅減少外，養(yǎng)殖戶和豬企壓欄惜售也是重要因素。隨著生豬存欄量大幅減少，7 7 9

5、 月生豬存欄環(huán)比減少有所收窄的原因之一。圖7：全國(guó)生定點(diǎn)宰量7月大幅下（萬(wàn)）圖8：廣東生定點(diǎn)宰量滑加明顯萬(wàn)頭）2,6002,4002,2002,0001,8001,6001,4001,2001,0002016201720182019400350300250200201720182019資料來(lái)：Wind， 資料來(lái)：Wind， 圖9：全國(guó)各區(qū)生出欄重斤)圖10：廣東屠宰業(yè)生屠宰平均重量快速升公斤)201720182019117115113111109107105資料來(lái)：搜豬網(wǎng)，資料來(lái)：Wind， 10 17 望探底回升，而按傳統(tǒng)豬周期來(lái)看，豬價(jià)企穩(wěn)需要等待三季度末。但正如前文所述，從非 CPICP

6、I4%5%14.5%左右，此后緩慢回CPI將快速回落。圖11：CPI同比大率破4%，難破5%CPI同比：測(cè)-悲觀CPI同比：測(cè)-中性CPI同比：測(cè)-樂(lè)觀5.5%5.0%4.5%4.0%3.5%3.0%2.5%2.0%1.5%2018/012018/022018/012018/022018/032018/042018/052018/062018/072018/082018/092018/102018/112018/122019/012019/022019/032019/042019/052019/062019/072019/082019/092019/102019/112019/122020/0

7、12020/022020/032020/042020/052020/062020/07資料來(lái)源：Wind， 測(cè)算盯著豬價(jià)做債，勝率并不高CPI CPI CPI CPI 上行來(lái)進(jìn)行利率交易，贏面并不大。首先，CPI 豬肉分項(xiàng)與利率走勢(shì)相關(guān)性已經(jīng)很弱。2012 年前 CPI 豬肉分項(xiàng)與 10 年國(guó)2012 年后二者走勢(shì)基本沒(méi)有相關(guān)性。兩段走勢(shì)吻合程度不同的原因在于通脹的結(jié)構(gòu)性分化。2012CPI PPI走勢(shì)趨于一致，體現(xiàn)為豬周CPI2年后I與II與利率走勢(shì)相關(guān)性始終保持較強(qiáng)，豬價(jià)、CPI豬肉分項(xiàng)與利率走勢(shì)基本不相關(guān)。圖12：CPI豬肉項(xiàng)利率勢(shì)相性已經(jīng)弱（%，%）圖13：PPI與利率走相關(guān)更（%，%

8、）02004/092005/102004/092005/102006/112007/122009/012010/022011/032012/042013/052014/062015/072016/082017/092018/10CPI:豬肉:當(dāng)月同比中債國(guó)債到期收益率:10年（右軸）5.505.004.504.003.503.002.505.000.00PPI:全部工業(yè)品:當(dāng)月同比中債國(guó)債到期收益率:10年（右軸）5.505.004.504.003.503.002004/092005/102004/092005/102006/112007/122009/012010/022011/032012

9、/042013/052014/062015/072016/082017/092018/10資料來(lái)：Wind， 資料來(lái)：Wind， PPI 的基本面角I 很難擺脫基數(shù)效應(yīng)大幅回升。而CPI PPI CPI 并不能成立。PPI 2016 年以來(lái)上游工業(yè)品價(jià)格上漲對(duì)下游形成的成本推動(dòng)I 的大幅上行并未推動(dòng)CI 圖14：PPI與的主要影素和傳路徑資料來(lái)源： 資產(chǎn)荒再持續(xù)，利率調(diào)整即機(jī)會(huì)資產(chǎn)的缺失20191030-1%，全年累計(jì)14.4%1.6個(gè)百分點(diǎn)；同樣受土地購(gòu)置充裕的背景下，各類資產(chǎn)端的限制政策是導(dǎo)致這一輪資產(chǎn)荒的原因。在資產(chǎn)荒的中長(zhǎng)期邏輯下，信貸、非標(biāo)等資產(chǎn)都難以替代利率債的配置需求，利率債仍將

10、是核心的配置資產(chǎn)選擇。圖15：土地購(gòu)置持續(xù)滑圖16：企業(yè)盈利續(xù)筑，PPI難以大幅升（%，%）2004-092005-082004-092005-082006-072007-062008-052009-042010-032011-022012-012012-122013-112014-102015-092016-082017-072018-062019-0502000/082001/112000/082001/112003/022004/052005/082006/112008/022009/052010/082011/112013/022014/052015/082016/112018/022

11、019/05工業(yè)企業(yè):利潤(rùn)總額:累計(jì)同比PPI:全部工業(yè)品:當(dāng)月同比（右軸）151050-5-10資料來(lái)：Wind， 資料來(lái)：Wind， 我們認(rèn)為年內(nèi)實(shí)際的發(fā)行量仍然不會(huì)太大，專項(xiàng)債供給不會(huì)造成較大的沖擊。10 月2911000 億元。這一消息準(zhǔn)確與否尚未可CPI 上行并不會(huì)的鼓勵(lì)生豬養(yǎng)殖等產(chǎn)業(yè)政策還是需求側(cè)的貨幣政策都會(huì)受到影響，CPI 同比大幅上行或多CPI，貨PPI CPI 明年一季度逐步回落后貨幣寬松的政策空間 資金面市場(chǎng)回顧2019 10 31 日，銀存間質(zhì)押式回購(gòu)加權(quán)利率漲跌互現(xiàn)，隔夜、7 天、14 天、21 1 29.56bps、0.48bps、-0.63bps、0.00bps

12、和-24.29bps 2.60%、2.70%2.72%2.90%2.75%3 5 10 年分0.04bps-0.45bps-4.29bps-2.45bps 2.66%2.91%3.08%3.29%0.35%2,929.060.48%9,635.330.76% 1,671.31。600 7 600 億元流動(dòng)性金回籠。2017 性的“投與收”。增量方面，我們根據(jù)逆回購(gòu)、SLF、MLF 等央行公開市場(chǎng)操作、國(guó)庫(kù)現(xiàn)金2018 3 2016 12 M0 累計(jì)4388.8 4473.2 5562.4 億元，粗算每日流動(dòng)性減少總量。同時(shí)，我們對(duì)公開市場(chǎng)操作到期情況進(jìn)行監(jiān)控。圖 17：2018 年 1 月 1

13、 日至 2019 年 10 月 31 日公開市場(chǎng)操作和到期監(jiān)控（億元）資料來(lái)源：Wind， 圖 18：2017 年 1 月 1 日至 2019 年 10 月 31 日流動(dòng)性投放和回籠統(tǒng)計(jì)（億元）資料來(lái)源：Wind， 圖 19：2019 年 10 月 31 日人民幣對(duì)各幣種匯率當(dāng)前值相對(duì)于 2017 年年末值變化百分比資料來(lái)源：Wind， 市場(chǎng)回顧及觀點(diǎn)可轉(zhuǎn)債市場(chǎng)回顧10 31 90.53 1.43%0.48%176 精測(cè)轉(zhuǎn)債和輝豐轉(zhuǎn)債橫盤外，7支上漲，3支下跌。其中，亨通轉(zhuǎn)債（%、玲瓏轉(zhuǎn)債（5%、德爾轉(zhuǎn)債（%）領(lǐng)漲，萬(wàn)順轉(zhuǎn)債（-%、聯(lián)泰轉(zhuǎn)債（-58%三力轉(zhuǎn)債（-12.91%）領(lǐng)跌。178 支可

14、轉(zhuǎn)債正股，除藍(lán)曉科技、中化巖土、高能環(huán)境橫盤外，2 支上漲，1 支下跌。其中，海爾智家（2%、久立特材（%、中航電子（%）領(lǐng)漲，中裝建設(shè)（-%、萬(wàn)順新材（-76%、三力士（-%）領(lǐng)跌?？赊D(zhuǎn)債市場(chǎng)周觀點(diǎn)上周在權(quán)益市場(chǎng)整體震蕩的背景下中證轉(zhuǎn)債指數(shù)基本收平，成交量較前期有所下滑； 個(gè)券層面除新券表現(xiàn)較優(yōu)外，以板塊 beta 行情為主?？赡苄暂^小，反而建議從新券資質(zhì)入手尋找價(jià)格合理的中長(zhǎng)期布局機(jī)會(huì)。從權(quán)益市場(chǎng)趨勢(shì)來(lái)看，在三季度企業(yè)盈利逐步企穩(wěn)疊加國(guó)內(nèi)穩(wěn)國(guó)外寬松的宏觀背景， alpha的時(shí)間窗口beta個(gè)券分化可能在中短期繼續(xù)。alpha 布局個(gè)券，而這一調(diào)整趨勢(shì)當(dāng)前仍會(huì)繼續(xù)。5G區(qū)塊鏈、自主可控等。高

15、彈性組合建議重點(diǎn)關(guān)注參林（百姓）轉(zhuǎn)債、拓邦（和而）轉(zhuǎn)債、絕味轉(zhuǎn)債、高能轉(zhuǎn)債、洲明轉(zhuǎn)債、安圖轉(zhuǎn)債、水晶轉(zhuǎn)債、啟明轉(zhuǎn)債、哈爾轉(zhuǎn)債以及券商轉(zhuǎn)債。穩(wěn)健彈性組合建議關(guān)注蒙電轉(zhuǎn)債、玲瓏轉(zhuǎn)債、藍(lán)曉轉(zhuǎn)債、華森轉(zhuǎn)債、藍(lán)思轉(zhuǎn)債、亞泰轉(zhuǎn)債、中來(lái)轉(zhuǎn)債、明泰轉(zhuǎn)債、久立轉(zhuǎn) 2、長(zhǎng)久轉(zhuǎn)債和銀行轉(zhuǎn)債。風(fēng)險(xiǎn)因素：市場(chǎng)流動(dòng)性出現(xiàn)大幅波動(dòng)，宏觀經(jīng)濟(jì)不如預(yù)期，無(wú)風(fēng)險(xiǎn)利率大幅波動(dòng)，正股股價(jià)超預(yù)期波動(dòng)。股票市場(chǎng)表 1：市場(chǎng)概況代碼簡(jiǎn)稱收盤價(jià)日變化（%）成交額（億）成交額同比變化（%）000001.SH2,929.06-0.351815.300.15399001.SZ9,635.33-0.482858.11-5.77399300.SZ3,

16、886.75-0.11399005.SZ6,149.60-0.81399006.SZ1,671.31-0.76000016.SH上證 502,952.12-0.54資料來(lái)源：Wind， 2：每日漲幅前五板塊日漲跌幅（%）日漲跌幅（%）家電1.52農(nóng)林牧漁-2.79食品飲料0.63計(jì)算機(jī)-1.79醫(yī)藥0.61紡織服裝-1.61餐飲旅游0.07傳媒-1.49非銀行金融-0.05電子元器件-1.38每日漲幅前五板塊日漲跌幅（%）每日跌幅前五板塊日漲跌幅（%）每日漲幅前五板塊日漲跌幅（%）每日跌幅前五板塊日漲跌幅（%）長(zhǎng)江經(jīng)濟(jì)帶0.16生物育種-4.06抗癌0.10二胎政策-3.57LNG-0.08次

17、新股-3.56證金概念-0.24智能 IC 卡-3.34滬股通 50-0.28移動(dòng)支付-3.34資料來(lái)源：Wind， 轉(zhuǎn)債市場(chǎng)4名稱收盤價(jià)日變化（%）中證轉(zhuǎn)債指數(shù)329.99-0.43平價(jià)指數(shù)90.53-1.43轉(zhuǎn)債指數(shù)110.42-0.43名稱簡(jiǎn)稱收盤價(jià)（元）漲跌幅（%）成交額（千萬(wàn)）110030.SH名稱簡(jiǎn)稱收盤價(jià)（元）漲跌幅（%）成交額（千萬(wàn)）110030.SH格力轉(zhuǎn)債107.70-0.470.48110031.SH航信轉(zhuǎn)債111.21-0.260.14110033.SH國(guó)貿(mào)轉(zhuǎn)債113.00-0.010.40110034.SH九州轉(zhuǎn)債105.750.050.25110038.SH濟(jì)川轉(zhuǎn)債

18、106.01-0.430.08110041.SH蒙電轉(zhuǎn)債115.01-0.171.20110042.SH航電轉(zhuǎn)債116.000.170.81110043.SH無(wú)錫轉(zhuǎn)債104.50-0.381.12110044.SH廣電轉(zhuǎn)債133.06-0.561.52110045.SH海瀾轉(zhuǎn)債99.640.330.46113008.SH電氣轉(zhuǎn)債112.66-0.220.53113009.SH廣汽轉(zhuǎn)債112.65-0.200.62113011.SH光大轉(zhuǎn)債117.85-1.1335.20113012.SH駱駝轉(zhuǎn)債102.560.060.06113013.SH國(guó)君轉(zhuǎn)債118.090.073.12113014.SH

19、林洋轉(zhuǎn)債98.38-0.090.13113016.SH小康轉(zhuǎn)債97.83-0.070.16113017.SH吉視轉(zhuǎn)債99.86-0.140.27113019.SH玲瓏轉(zhuǎn)債122.801.351.04113502.SH嘉澳轉(zhuǎn)債98.150.040.13113503.SH泰晶轉(zhuǎn)債119.370.632.78113504.SH艾華轉(zhuǎn)債107.22-0.610.17113505.SH杭電轉(zhuǎn)債101.02-0.040.20113507.SH天馬轉(zhuǎn)債123.53-2.650.89113508.SH新鳳轉(zhuǎn)債103.20-0.330.12113509.SH新泉轉(zhuǎn)債104.11-0.380.13113510.S

20、H再升轉(zhuǎn)債105.86-0.360.02113511.SH千禾轉(zhuǎn)債125.20-0.280.27113514.SH威帝轉(zhuǎn)債103.12-0.490.10113515.SH高能轉(zhuǎn)債116.500.000.00113516.SH蘇農(nóng)轉(zhuǎn)債107.90-0.380.20113517.SH曙光轉(zhuǎn)債113.12-0.930.30113518.SH顧家轉(zhuǎn)債113.110.391.23123002.SZ國(guó)禎轉(zhuǎn)債123.150.411.44123003.SZ藍(lán)思轉(zhuǎn)債125.700.5637.20名稱簡(jiǎn)稱收盤價(jià)（元）漲跌幅（%）成交額（千萬(wàn)）123004.SZ鐵漢轉(zhuǎn)債100.01-0.270.15123007.S

21、Z道氏轉(zhuǎn)債103.01-0.280.14123009.SZ星源轉(zhuǎn)債111.960.510.14123010.SZ博世轉(zhuǎn)債103.98-0.630.15123011.SZ德爾轉(zhuǎn)債110.001.101.58123012.SZ萬(wàn)順轉(zhuǎn)債112.58-4.100.24123013.SZ橫河轉(zhuǎn)債102.82-0.980.17123014.SZ凱發(fā)轉(zhuǎn)債109.390.080.17123015.SZ藍(lán)盾轉(zhuǎn)債110.35-2.411.55127003.SZ海印轉(zhuǎn)債105.08-0.130.20127004.SZ模塑轉(zhuǎn)債95.75-0.010.55127005.SZ長(zhǎng)證轉(zhuǎn)債116.88-0.361.731270

22、06.SZ敖東轉(zhuǎn)債103.50-0.881.11127007.SZ湖廣轉(zhuǎn)債108.08-0.711.32128010.SZ順昌轉(zhuǎn)債103.53-0.410.18128012.SZ輝豐轉(zhuǎn)債99.300.000.59128013.SZ洪濤轉(zhuǎn)債101.700.483.61128014.SZ永東轉(zhuǎn)債99.19-0.530.27128015.SZ久其轉(zhuǎn)債95.90-0.382.21128016.SZ雨虹轉(zhuǎn)債119.25-0.210.96128017.SZ金禾轉(zhuǎn)債111.130.570.19128018.SZ時(shí)達(dá)轉(zhuǎn)債97.73-0.170.10128019.SZ久立轉(zhuǎn) 2114.310.641.65128

23、020.SZ水晶轉(zhuǎn)債125.000.001.35128021.SZ兄弟轉(zhuǎn)債109.31-0.201.44128022.SZ眾信轉(zhuǎn)債100.31-0.590.02128023.SZ亞太轉(zhuǎn)債94.63-0.250.08128025.SZ特一轉(zhuǎn)債112.770.080.11128026.SZ眾興轉(zhuǎn)債93.90-0.110.43128028.SZ贛鋒轉(zhuǎn)債103.200.290.16128029.SZ太陽(yáng)轉(zhuǎn)債117.990.760.64128030.SZ天康轉(zhuǎn)債169.00-2.4358.79128032.SZ雙環(huán)轉(zhuǎn)債96.10-0.030.06128033.SZ迪龍轉(zhuǎn)債101.36-0.100.051

24、28034.SZ江銀轉(zhuǎn)債107.90-0.691.62128035.SZ大族轉(zhuǎn)債108.45-0.510.85128036.SZ金農(nóng)轉(zhuǎn)債120.80-2.111.06128037.SZ巖土轉(zhuǎn)債95.710.000.00128038.SZ利歐轉(zhuǎn)債116.40-0.260.98128039.SZ三力轉(zhuǎn)債110.60-2.283.90128040.SZ華通轉(zhuǎn)債108.51-0.460.23128041.SZ盛路轉(zhuǎn)債130.30-1.990.18128042.SZ凱中轉(zhuǎn)債100.350.050.12128043.SZ東音轉(zhuǎn)債183.30-0.221.02128044.SZ嶺南轉(zhuǎn)債100.48-0.07

25、0.16名稱簡(jiǎn)稱收盤價(jià)（元）漲跌幅（%）成交額（千萬(wàn)）128045.SZ機(jī)電轉(zhuǎn)債112.100.090.27128046.SZ利爾轉(zhuǎn)債102.660.120.03113520.SH百合轉(zhuǎn)債119.79-1.040.30128048.SZ張行轉(zhuǎn)債110.00-1.571.69113519.SH長(zhǎng)久轉(zhuǎn)債110.650.651.46123016.SZ洲明轉(zhuǎn)債120.47-0.850.03113521.SH科森轉(zhuǎn)債105.30-0.340.46110047.SH山鷹轉(zhuǎn)債107.05-0.833.43113522.SH旭升轉(zhuǎn)債115.70-0.120.42113020.SH桐昆轉(zhuǎn)債117.30-0.33

26、2.08110046.SH圓通轉(zhuǎn)債120.66-0.481.78128049.SZ華源轉(zhuǎn)債100.80-0.580.21123017.SZ寒銳轉(zhuǎn)債118.900.340.87127008.SZ特發(fā)轉(zhuǎn)債194.11-1.721.63113523.SH偉明轉(zhuǎn)債123.400.031.16128050.SZ鈞達(dá)轉(zhuǎn)債101.39-0.130.42110048.SH福能轉(zhuǎn)債116.63-1.010.68113524.SH奇精轉(zhuǎn)債102.14-0.110.16128051.SZ光華轉(zhuǎn)債105.270.110.04113525.SH臺(tái)華轉(zhuǎn)債104.24-0.710.01110049.SH海爾轉(zhuǎn)債119.09

27、0.752.48128052.SZ凱龍轉(zhuǎn)債156.70-2.000.45110050.SH佳都轉(zhuǎn)債123.01-0.740.54123018.SZ溢利轉(zhuǎn)債115.550.170.12113526.SH聯(lián)泰轉(zhuǎn)債138.71-4.560.84113527.SH維格轉(zhuǎn)債94.98-1.020.85128053.SZ尚榮轉(zhuǎn)債105.40-0.210.23128054.SZ中寵轉(zhuǎn)債112.000.180.12113021.SH中信轉(zhuǎn)債106.98-0.495.91113528.SH長(zhǎng)城轉(zhuǎn)債99.75-0.280.19128056.SZ今飛轉(zhuǎn)債100.090.040.18123019.SZ中來(lái)轉(zhuǎn)債107.

28、580.540.56110051.SH中天轉(zhuǎn)債104.20-0.190.84123021.SZ萬(wàn)信轉(zhuǎn) 2112.040.030.79113022.SH浙商轉(zhuǎn)債106.80-0.240.59123020.SZ富祥轉(zhuǎn)債119.210.080.78110052.SH貴廣轉(zhuǎn)債117.08-1.472.05128057.SZ博彥轉(zhuǎn)債111.48-1.803.08128059.SZ視源轉(zhuǎn)債121.960.151.82113529.SH絕味轉(zhuǎn)債158.80-1.102.30128055.SZ長(zhǎng)青轉(zhuǎn) 2115.320.080.04110053.SH蘇銀轉(zhuǎn)債109.13-0.477.94127011.SZ中鼎轉(zhuǎn)

29、 2106.27-0.240.20110055.SH伊力轉(zhuǎn)債110.50-0.590.23128058.SZ拓邦轉(zhuǎn)債113.00-0.570.75名稱簡(jiǎn)稱收盤價(jià)（元）漲跌幅（%）成交額（千萬(wàn)）123022.SZ長(zhǎng)信轉(zhuǎn)債120.60-1.092.00110054.SH通威轉(zhuǎn)債120.10-1.323.77128060.SZ中裝轉(zhuǎn)債146.67-6.2329.88110056.SH亨通轉(zhuǎn)債105.501.966.84123023.SZ迪森轉(zhuǎn)債100.00-0.220.30123024.SZ岱勒轉(zhuǎn)債102.00-1.730.36113530.SH大豐轉(zhuǎn)債106.050.410.51123025.SZ

30、精測(cè)轉(zhuǎn)債109.000.000.20113531.SH百姓轉(zhuǎn)債123.60-0.400.29113533.SH參林轉(zhuǎn)債150.99-3.623.18113532.SH海環(huán)轉(zhuǎn)債104.61-0.320.10128063.SZ未來(lái)轉(zhuǎn)債105.10-0.050.60128062.SZ亞藥轉(zhuǎn)債93.83-0.710.99128061.SZ啟明轉(zhuǎn)債125.01-0.790.69113024.SH核建轉(zhuǎn)債102.18-0.570.56127012.SZ招路轉(zhuǎn)債108.18-0.572.01110057.SH現(xiàn)代轉(zhuǎn)債106.90-0.020.48113534.SH鼎勝轉(zhuǎn)債103.01-0.120.84113

31、025.SH明泰轉(zhuǎn)債108.81-0.201.03128064.SZ司爾轉(zhuǎn)債99.77-0.230.28113026.SH核能轉(zhuǎn)債105.94-0.343.04110058.SH永鼎轉(zhuǎn)債98.660.060.50128065.SZ雅化轉(zhuǎn)債96.52-0.340.23128066.SZ亞泰轉(zhuǎn)債105.82-0.200.17127013.SZ創(chuàng)維轉(zhuǎn)債105.60-0.861.61128067.SZ一心轉(zhuǎn)債114.60-0.350.22113535.SH大業(yè)轉(zhuǎn)債100.49-0.550.21113536.SH三星轉(zhuǎn)債104.44-0.490.33128068.SZ和而轉(zhuǎn)債125.361.032.66

32、123026.SZ中環(huán)轉(zhuǎn)債108.71-0.820.83123027.SZ藍(lán)曉轉(zhuǎn)債121.25-1.020.48113537.SH文燦轉(zhuǎn)債101.08-0.500.63113028.SH環(huán)境轉(zhuǎn)債118.110.310.32113027.SH華鈺轉(zhuǎn)債100.85-0.070.29128069.SZ華森轉(zhuǎn)債103.32-0.350.09123028.SZ清水轉(zhuǎn)債103.13-0.350.51113538.SH安圖轉(zhuǎn)債148.130.433.73128070.SZ智能轉(zhuǎn)債101.00-0.610.22113539.SH圣達(dá)轉(zhuǎn)債117.990.871.74113540.SH南威轉(zhuǎn)債114.64-0.8

33、73.49113541.SH榮晟轉(zhuǎn)債103.000.420.48113542.SH好客轉(zhuǎn)債105.66-0.370.23113543.SH歐派轉(zhuǎn)債120.110.262.22123029.SZ英科轉(zhuǎn)債114.55-0.180.12128073.SZ哈爾轉(zhuǎn)債106.31-0.260.45名稱簡(jiǎn)稱收盤價(jià)（元）漲跌幅（%）成交額（千萬(wàn)）123030.SZ九洲轉(zhuǎn)債105.01-0.940.25128071.SZ合興轉(zhuǎn)債105.62-0.450.87128072.SZ翔鷺轉(zhuǎn)債104.70-0.770.07123031.SZ晶瑞轉(zhuǎn)債115.800.000.63113544.SH桃李轉(zhuǎn)債116.630.05

34、0.60128074.SZ游族轉(zhuǎn)債108.101.031.56123032.SZ萬(wàn)里轉(zhuǎn)債101.300.009.82128075.SZ遠(yuǎn)東轉(zhuǎn)債103.080.0071.05名稱簡(jiǎn)稱收盤價(jià)（元）漲跌幅（%）成交額（億）600185.SH名稱簡(jiǎn)稱收盤價(jià)（元）漲跌幅（%）成交額（億）600185.SH格力地產(chǎn)5.07-0.590.12600271.SH航天信息20.60-0.482.66600755.SH廈門國(guó)貿(mào)7.25-0.680.57600998.SH九州通12.92-6.311.91600566.SH濟(jì)川藥業(yè)24.02-1.641.61600863.SH內(nèi)蒙華電2.762.220.906003

35、72.SH中航電子14.054.071.52600908.SH無(wú)錫銀行5.42-2.340.73600831.SH廣電網(wǎng)絡(luò)8.95-1.000.86600398.SH海瀾之家7.683.231.70601727.SH上海電氣4.88-0.610.43601238.SH廣汽集團(tuán)11.491.061.27601818.SH光大銀行4.34-3.568.59601311.SH駱駝股份8.99-1.210.57601211.SH國(guó)泰君安17.060.122.91601222.SH林洋能源4.45-1.980.54601127.SH小康股份12.64-0.550.11601929.SH吉視傳媒2.05-

36、0.970.16601966.SH玲瓏輪胎20.973.151.52603822.SH嘉澳環(huán)保23.45-1.010.08603738.SH泰晶科技18.40-0.540.71603989.SH艾華集團(tuán)18.31-0.110.17603618.SH杭電股份5.840.860.41603668.SH天馬科技9.05-3.931.03603225.SH新鳳鳴11.360.090.21603179.SH新泉股份13.68-2.220.14603601.SH再升科技6.58-0.900.11603027.SH千禾味業(yè)22.53-0.531.10603023.SH威帝股份4.20-2.330.21603

37、588.SH高能環(huán)境10.140.000.00603323.SH蘇農(nóng)銀行5.23-1.690.83603019.SH中科曙光33.42-1.074.30603816.SH顧家家居35.500.650.63300388.SZ國(guó)禎環(huán)保10.322.180.52名稱簡(jiǎn)稱收盤價(jià)（元）漲跌幅（%）成交額（億）300433.SZ藍(lán)思科技13.200.7613.08300197.SZ鐵漢生態(tài)3.17-0.940.26300409.SZ道氏技術(shù)11.24-0.880.23300568.SZ星源材質(zhì)25.290.280.32300422.SZ博世科10.59-3.810.69300473.SZ德爾股份38.44

38、1.560.50300057.SZ萬(wàn)順新材5.76-7.691.53300539.SZ橫河模具8.00-0.250.82300407.SZ凱發(fā)電氣7.500.270.18300297.SZ藍(lán)盾股份5.98-3.862.71000861.SZ海印股份2.64-0.380.10000700.SZ模塑科技3.821.870.44000783.SZ長(zhǎng)江證券6.81-0.580.88000623.SZ吉林敖東15.760.250.57000665.SZ湖北廣電5.00-3.100.34002245.SZ澳洋順昌3.57-1.920.21002496.SZ輝豐股份2.870.350.13002325.SZ

39、洪濤股份3.06-0.330.15002753.SZ永東股份8.210.980.30002279.SZ久其軟件6.18-4.923.18002271.SZ東方雨虹23.450.825.76002597.SZ金禾實(shí)業(yè)18.301.390.85002527.SZ新時(shí)達(dá)5.420.740.19002318.SZ久立特材8.164.081.70002273.SZ水晶光電14.96-0.275.43002562.SZ兄弟科技4.983.111.02002707.SZ眾信旅游4.97-3.680.49002284.SZ亞太股份4.65-1.060.11002728.SZ特一藥業(yè)16.98-0.760.09

40、002772.SZ眾興菌業(yè)6.69-1.040.13002460.SZ贛鋒鋰業(yè)21.810.141.67002078.SZ太陽(yáng)紙業(yè)8.16-0.730.85002100.SZ天康生物13.77-1.1517.07002472.SZ雙環(huán)傳動(dòng)5.480.370.18002658.SZ雪迪龍6.87-2.970.13002807.SZ江陰銀行4.40-1.350.56002008.SZ大族激光38.00-2.563.78002548.SZ金新農(nóng)10.91-5.701.47002542.SZ中化巖土4.060.000.00002131.SZ利歐股份1.97-1.011.81002224.SZ三力士6.

41、09-8.283.35002758.SZ華通醫(yī)藥10.35-1.430.27002446.SZ盛路通信8.90-2.201.01002823.SZ凱中精密8.56-1.610.12002793.SZ東音股份11.73-0.760.63名稱簡(jiǎn)稱收盤價(jià)（元）漲跌幅（%）成交額（億）002717.SZ嶺南股份4.70-0.210.25002013.SZ中航機(jī)電6.651.841.60002258.SZ利爾化學(xué)11.651.920.33603313.SH夢(mèng)百合17.07-0.930.78002839.SZ張家港行5.86-2.981.79603569.SH長(zhǎng)久物流12.072.990.88300232

42、.SZ洲明科技8.880.230.62603626.SH科森科技7.80-3.470.29600567.SH山鷹紙業(yè)3.09-0.320.41603305.SH旭升股份30.950.321.27601233.SH桐昆股份13.230.612.63600233.SH圓通速遞12.54-0.480.79002787.SZ華源控股6.43-1.230.10300618.SZ寒銳鈷業(yè)55.971.032.81000070.SZ特發(fā)信息10.61-2.211.68603568.SH偉明環(huán)保21.650.230.64002865.SZ鈞達(dá)股份18.701.361.00600483.SH福能股份8.86-1

43、.450.27603677.SH奇精機(jī)械11.90-2.540.14002741.SZ光華科技11.47-0.860.21603055.SH臺(tái)華新材6.72-1.610.06600690.SH海爾智家16.005.1210.94002783.SZ凱龍股份10.44-2.160.50600728.SH佳都科技9.54-0.932.98300381.SZ溢多利9.06-0.330.38603797.SH聯(lián)泰環(huán)保11.98-5.741.28603518.SH錦泓集團(tuán)6.81-2.710.13002551.SZ尚榮醫(yī)療4.64-1.280.10002891.SZ中寵股份22.990.220.82601

44、998.SH中信銀行6.13-1.451.66603897.SH長(zhǎng)城科技18.66-0.800.21002863.SZ今飛凱達(dá)5.53-0.360.13300393.SZ中來(lái)股份12.812.480.80600522.SH中天科技8.020.121.10300168.SZ萬(wàn)達(dá)信息13.81-1.571.88601878.SH浙商證券8.750.341.60300497.SZ富祥股份17.691.140.85600996.SH貴廣網(wǎng)絡(luò)8.74-2.670.55002649.SZ博彥科技9.53-3.642.09002841.SZ視源股份85.55-0.051.77603517.SH絕味食品45.34-1.411.61002391.SZ長(zhǎng)青股份8.08-0.370.15600919.SH江蘇銀行7.07-0.702.25000887.SZ中鼎股份8.59-1.040.42600197.SH伊力特15.57-