china-morning-note

china-morning-note

Purpose

Draft concise A股晨会纪要/每日策略, summarizing overnight developments and pre-market sentiment for the Chinese equity market. Designed for the typical Chinese sell-side 晨会 format (typically 7:00-8:30 AM before market open).

Data Sources (Multi-Tier)

Tier 0 — 万得 Wind（最全面付费数据）

• 覆盖：A股/港美股/基金/指数/债券/宏观/研报/分析（44个工具）
• MCP 服务：wind-mcp（需 WIND_API_KEY 密钥，以 ak_ 开头）
• 优势：全市场覆盖面最广、数据最全面、包含研报和量化分析
• 密钥申请：https://aifinmarket.wind.com.cn/#/home

Tier 1 - Tonghuashun iFind (paid)

ifind_search_news(query)       -> Real-time financial news
ifind_search_trending_news()   -> Trending events
ifind_index_data(query)        -> Index data
ifind_sector_data(query)       -> Sector data

Tier 2 - AkShare / Other (free, fallback)

Data source mode: IFIND_DATA_SOURCE_MODE=ifind-only for iFind-only mode.

Data Sources (Legacy)

Market Data

get_market_overview()          → Top gainers, losers, most active
get_index_data("000001")       → 上证指数
get_index_data("399001")       → 深证成指
get_index_data("399006")       → 创业板指
get_index_data("000688")       → 科创50
get_stock_news(ticker="")      → Market headlines

News & Sentiment

Macro Data (if relevant)

Workflow

Step 1: Overnight Developments

Macro / Policy:

• 央行 (PBoC) announcements — MLF/LPR rates, RRR cuts, open market operations
• 国务院 / 部委政策 — industry regulations, 产业政策
• 美联储 (Fed) developments — impact on A-share opening
• 外围市场 (overnight markets) — US equities, commodities, FX

Company news:

• Earnings releases from prior evening / overnight
• 业绩预告 (earnings preview notices)
• 增减持 (shareholder buy/sell announcements)
• 重大合同 (major contract wins)
• 回购 (share buybacks)

Format:

【宏观/政策】
- [News item with brief implication]
- [News item with brief implication]

【公司要闻】
- [Company]: [Event] — [Implication]
- [Company]: [Event] — [Implication]

Step 2: Market Preview

Previous session recap:

• 上证指数: close, change, volume
• 深证成指: close, change
• 创业板指: close, change, 涨跌家数
• Sector performance: top 3 up/down sectors
• 北向资金: net buy/sell amount, direction

Overnight markets:

• 美股三大指数 (Dow, Nasdaq, 中证500) — impact on A-share opening
• Hang Seng Index (港股)
• Commodities: 原油, 铜, 黄金
• USD/CNY: exchange rate movement

Step 3: Trade Ideas

2-4 actionable ideas for the day:

For each idea:

• 方向: Long / Short / Watch
• 标的: Company name + ticker
• 逻辑: Brief thesis (1-2 sentences)
• 催化剂: Key event to watch
• 风险: Main risk factor

Example format:

【今日策略】
1. [方向] [标的]（[代码]）
   逻辑：[简要投资逻辑]
   催化剂：[近期催化剂]
   风险：[主要风险]

2. ...

Step 4: Key Events Calendar

Today's events:

• Earnings releases (A-share companies reporting)
• Economic data releases (CPI, PMI, etc.)
• Policy events (PBoC MLF operations, 国新办发布会)
• Earnings calls (业绩说明会)
• Sector conferences / 策略会

Step 5: Sector / Thematic Focus

Sector of the day:

• What's moving?
• Key drivers (policy, data, sentiment)
• Names to watch within sector

Step 6: Draft the Note

Standard A-share morning note format:

【XX证券】A股晨会纪要 [YYYY-MM-DD]

一、市场回顾
   [Yesterday's close, sector performance, 北向资金]

二、隔夜外盘与大宗
   [Overnight US/Asia markets, commodities, FX]

三、重要资讯
   【宏观政策】...
   【公司要闻】...
   【行业动态】...

四、今日策略
   [Trade ideas with rationale]

五、重点事件日历
   [Today's scheduled events]

六、风险提示
   [Market-wide risks]

Step 7: Delivery

Tone guidelines:

• Concise and actionable
• Opinionated but evidence-based
• Flag high-conviction ideas vs. lower-conviction
• Include risk management notes (止损位, 仓位建议)

Typical length:

• 300-600 words for daily note
• 800-1,500 words for weekly strategy piece

China-Specific Morning Context

Market Mechanics

Common A-share Themes

• 政策市 (policy-driven market) — government announcements move markets
• 存量博弈 (capital rotation) — limited new money, sector rotation
• 北向资金 (Northbound flows) — tracked as sentiment indicator
• 两融余额 (margin balances) — leverage indicator
• 龙虎榜 (Dragon-Tiger list) — unusual activity names
• 涨跌停 — limit-up/limit-down stocks (market momentum)

Common Catalysts in A-share

• 央行公开市场操作 (PBoC open market operations)
• LPR报价 (Loan Prime Rate announcements)
• PMI数据 (monthly PMI releases)
• 季报/年报窗口 (earnings season: Apr, Aug, Oct)
• 重要会议 (重要会议: 政治局会议, 中央经济工作会议)
• 行业监管政策 (sector regulation: 集采, 反垄断, etc.)
• 外资流入 (foreign inflow via 沪深港通)

Quality Checks

Before delivering:

• Market data current and accurate
• Overnight developments captured
• Trade ideas actionable and time-relevant
• Event calendar complete
• Risk factors included
• Tone appropriate for morning meeting format