Market trend:
In the morning, the major indexes once fell sharply, and the gem index fell by more than 4%. In the afternoon, the market rebounded. The abnormal rise of financial stocks such as securities companies drove the Shanghai stock index to turn red. Then the large infrastructure sector strengthened again, and the sector lifted the limit tide, driving the index to rebound further. In terms of decline, track stocks such as lithium chip cro fell sharply in the morning, and the decline of various sectors narrowed in the afternoon. Finally, Contemporary Amperex Technology Co.Limited(300750) still fell by more than 6%, and Wuxi Apptec Co.Ltd(603259) was close to the limit. Overall, individual stocks rose more and fell less today, with more than 3600 stocks rising in the two cities. The market shows the characteristics of strong Shanghai and weak Shenzhen. The Shanghai stock index also has a significant volume. Large market capitalization bank stocks strengthened, while track stocks fell further. After the strength of heavyweights, they tend to be active repeatedly in the short term with inertia.
Hot sector analysis:
In terms of sectors, we will focus on tracking two sectors today: first, the large infrastructure sector has strengthened again, and the sector has lifted the limit tide. GEM stocks Hualan Group Co.Ltd(301027) 2 connected to the board, Chongqing Construction Engineering Group Co.Ltd(600939) , Zhongyan Technology Co.Ltd(003001) , Shenzhen Grandland Group Co.Ltd(002482) , Huitong group and other more than 10 shares rose by the limit. The valuation of major infrastructure industry sectors is generally low. Specifically, taking the median P / E ratio as the valuation standard, among the 31 industries, the P / E ratio of steel industry is less than 10 times, and the P / E ratio of subdivided industries such as building materials and building decoration is also maintained within 20 times. The resonance between underestimated value and poor expectation is the reason for the continued strength of the infrastructure sector. At present, the logic of the market has not changed, but it is still stable. Some institutions also believe that only by seeing the deterministic recovery of social finance data can we judge whether the economy is really stabilizing. There are signs of local relaxation in the real estate regulation policy. If the medium and long-term loans represented by real estate continue to be lower than expected, the possibility of further interest rate reduction by the central bank will not be ruled out. Second, the digital currency sector is active. Today, in the context of eye-catching performance of real estate finance related cyclical stocks, digital currency stocks still rose against the market; In the sector, Shenzhen Emperor Technology Company Limited(300546) rose by the limit, and Business-Intelligence Of Oriental Nations Corporation Ltd(300166) , Beijing Advanced Digital Technology Co.Ltd(300541) rose by more than 10%. Digital currency has a large growth space and accelerated pace. It belongs to a strong stock in the near future. After adjustment, it also has a strong anti pumping force, which can continue to be paid attention to in the future.
Outlook:
The rebound launched by securities companies this afternoon is not easy. Under the background of interest rate hike in the United States, the capital side is under pressure to a certain extent; In addition, institutions are generally not optimistic about this year’s export demand. Under the background of unable to afford consumption, government investment is expected to be high. Therefore, infrastructure stocks rose sharply, superimposed with their undervalued value, and became the object of funds for heating; Although the old infrastructure works quickly to stabilize the economy, the side effects are also obvious; The recent performance of the new infrastructure has been mediocre. We believe that in order to maintain steady growth, the new infrastructure is also an important part, and there is also a poor expectation; That is, how strong the government’s support for the new infrastructure is. What is more certain is a table in the 14th five year plan, in which the industrial Internet has great room for improvement, but the specific operation of the government needs to be further tracked. After the current round of decline, the risk has been significantly released, and the rebound opportunity in the future market is greater than the risk, but pay attention to the rebound opportunity of track stocks after oversold.
