Since the beginning of the year, affected by the policy shift of the Federal Reserve and the effect of China's Spring Festival, the sentiment of A-Shares has tended to be cautious. In the last week of the year of the ox, the market ushered in the continuous escalation of tensions between Russia and Ukraine; The Federal Reserve's interest rate meeting in January once again strengthened the expectation of raising interest rates and reducing bonds, and other external events that have a great impact on the market. Under the disturbance of external risks, due to the concern that the long time window of the Spring Festival holiday may bring greater uncertainty, some A-share funds left the market in advance, resulting in the excessive release of negative sentiment in the market.
In the trading in the first month of 2022, the market experienced the process of oscillation and bottoming, and some institutions have begun to lay out after the festival in the bottom range.
At the beginning of the Spring Festival, several institutions first released the first batch of gold stocks in the year of the tiger. In this list, jewelry giants Chow Tai Seng Jewellery Company Limited(002867) were recommended by three institutions at the same time in February, Beijing Roborock Technology Co.Ltd(688169) , Kweichow Moutai Co.Ltd(600519) , Midea Group Co.Ltd(000333) , Zhejiang Nhu Company Ltd(002001) , Flat Glass Group Co.Ltd(601865) , Industrial Bank Co.Ltd(601166) , Focus Media Information Technology Co.Ltd(002027) , Anhui Kouzi Distillery Co.Ltd(603589) were recommended by two institutions at the same time.
For the reason of recommending Chow Tai Seng Jewellery Company Limited(002867) , Kaiyuan Securities said: gold and jewelry consumption is expected to continue a high boom in 2022, and the market share of leading brands will continue to increase; The provincial agent model is expected to bring important increments to the company in terms of channel expansion, breakthrough of commanding heights and growth of gold products; Recently launched the latest store product distribution model, which is expected to promote the performance of single stores after promotion.
Looking back on January, the best gold stock portfolio of securities companies to obtain excess return in that month was Tianfeng Securities Co.Ltd(601162) , followed by Guotai Junan Securities Co.Ltd(601211) and Huachuang securities. Tianfeng Securities Co.Ltd(601162) emphasized the layout prospect of hard technology track and difficult reverse direction last month.
In the new month, Mou Yiling of Minsheng Securities said that after the falsification of the "cross year market", the opportunity should be paid attention to. The release of risks is accelerating, but hope is brewing. When we focus on the core variable of inflation, we can rebound. He also said that the original steady state of the market has been broken. Although the amplification of overseas volatility will continue to affect a shares, its main line should be clearer and clearer. This main line will also resonate with the formation of global value style, and a new consensus is expected to be formed. Investors should not only focus on the risks in the market, but rather think ahead rather than stop. Its suggestions focus on credit recovery, inflation elasticity and value return.
For the allocation direction, Shenwan Hongyuan Group Co.Ltd(000166) view said that the "steady growth" sector is expected to continue to contribute relative returns. There are three main lines to focus on: (1) there are still opportunities in the infrastructure and real estate industry chain. (2) The high prosperity track is resilient and continues to be equipped with bottom warehouse: green electricity and new energy vehicles. (3) high-end consumption is not pessimistic, concern: baijiu.
