The Federal Reserve decided to release hawkish signals in January, and the market funds are obviously lack of confidence as the Spring Festival holiday is approaching. On the 27th, A-Shares adjusted sharply again, the Shanghai index fell below the 3400 point mark, and the gem index fell more than 3%. Digital economy, automobile, semiconductor, military industry, household appliances and other sectors retreated one after another, with more than 4000 stocks falling, and the market profit-making effect was very poor.
Industry analysts believe that after the extreme release of short-term market risk, it is expected to usher in the repair market, and investors can patiently wait for the spring market after the festival.
more than 4300 stocks fell
On the 27th, the three major indexes of Shanghai and Shenzhen opened low and walked low throughout the day, breaking the recent low again. Although there was a slight rebound in the session, they did not change the downward pattern of shock throughout the day. Finally, the three indexes closed in Changyin, with the Shanghai index falling 1.78%, the gem index falling 3.25% and the Shenzhen component index falling 2.77%.
On the disk, the concept of digital economy retreated in depth, Fujian Rongji Software Co.Ltd(002474) , Beijing Vastdata Technology Co.Ltd(603138) , Inspur Software Co.Ltd(600756) and other limits. Automobile, semiconductor, military industry, household appliances and securities companies collectively weakened, Great Wall Motor Company Limited(601633) , Will Semiconductor Co.Ltd.Shanghai(603501) fell by more than 5%. Sungrow Power Supply Co.Ltd(300274) fell by more than 14%, and the photovoltaic sector was under pressure, Longi Green Energy Technology Co.Ltd(601012) , Tongwei Co.Ltd(600438) followed. The anti epidemic concept changed in the afternoon and Andon Health Co.Ltd(002432) was once on the board. The banking sector remained stable throughout the day, and the secondary new shares of Bank of Lanzhou rose by the limit. Qilu Bank Co.Ltd(601665) , Bank Of Nanjing Co.Ltd(601009) , Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) , Wuxi Rural Commercial Bank Co.Ltd(600908) , Bank Of Hangzhou Co.Ltd(600926) are red.
In terms of the rise and fall of individual stocks, only more than 200 stocks in the two cities were red, and more than 4300 stocks fell, with a very poor profit-making effect. As of the closing, the main capital outflow was nearly 41 billion yuan, and the turnover of the two cities was 822.97 billion yuan, an increase of 3.63% over the previous trading day and a contraction of 12.61% over the average of the previous five days. Northbound funds sold a net 14.624 billion yuan throughout the day, and the single day net sales reached a new high since July 24, 2020. At the same time, it is also the fifth time that the land port link has sold more than 14 billion yuan since its opening.
three major reasons caused the sharp decline of A-Shares
On the 27th, the A-share market saw a general decline in individual stocks again, and the peripheral markets also fell sharply. Yue Zhifang, an investment consultant of Yuanda, analyzed that the main reason for the decline was that the interest rate meeting of the Federal Reserve released a more pessimistic expectation of raising interest rates than the market. It is difficult for A-Shares to be alone. In addition, the substantial net sales of northbound funds made it worse for the already weak market. The massive disclosure of the annual report forecast and the concentrated release of some performance Thunder have led to the freezing point of individual stock effect.
Ma Wenyu, a strategic analyst, believes that Powell’s statement that “interest rate hikes will be discussed at every meeting” was slightly more hawkish than expected, which led to the rapid rise of US bond yields and the intraday diving of the three major stock indexes of US stocks. The current market panic of US stocks is still strong, and the current valuation level of US stocks is high, or will continue to adjust, stimulated by the unlimited easing policy after the long bull superimposed epidemic.
However, Ma Wenyu’s performance in the A share market is still more promising. On the one hand, China’s monetary policy has been restored to normal after the outbreak, and the stock market has limited bubbles. Especially after the collapse of the holding group in early 2021, the bubble in the consumer sector has been squeezed out, and the valuation is at a reasonable level, and some sub sectors are at a low level. On the other hand, the poor policy of internal loosening and external tightening is also a clear card, and China’s policy environment is better. In addition, the tendency of overseas funds to increase their holdings of Chinese assets is obvious, which is expected to increase the amount of energy in the market.
waiting for the marginal repair opportunity of market sentiment
On the whole, Yue Zhifang believes that the short-term disturbance factors are gradually landing, but the panic is still spreading. The emotional repair of the market still needs some time, and we need to continue to wait patiently. In addition, after China Europe Fund and Glenn bought their own funds out of their own pocket, many fund companies began to buy their own funds, which will have a certain bottom supporting effect on the white horse stocks and blue chips with heavy institutional positions. However, in the weak market, it is difficult for self purchase behavior to immediately change the operation trend of the market. Therefore, it is suggested that we continue to control our positions and wait until it stabilizes in the later stage.
\u3000\u3000 “The Spring Festival is coming, the market trading is light, the market mood is obviously depressed, and the bottom building trend continues. It is expected that the mood will be gradually repaired after the year. Therefore, strategically, we should hold light positions for the festival and wait patiently for the spring market after the festival. We should also adjust our mentality and keep our ammunition until the market comes out of the right signal, that is, when we greatly increase our positions. It is very cold in winter, but in spring It will come. ” Yue Zhifang said.
Ma Wenyu also suggested to balance the mentality, and wait for the opportunities brought by the marginal repair of market sentiment after the year for home appliances, medicine and biology, national defense and military industry, social services and other sectors with strong certainty of bargain hunting performance, high industrial prosperity and large repair space for valuation.
