Index tracking
[Shanghai and Shenzhen composite index] Shanghai Composite Index rose 2.03% to close at 3429.58 points; The Shenzhen Component Index rose 0.96% to close at 13456.65 points; The gem index rose 0.31% to close at 2917.86.
[industry tracking] industry: 25 industries rose and 5 industries fell. Among them, building decoration, petroleum and petrochemical and building materials sectors led the increase, with increases of 5.99%, 4.55% and 4.12% respectively. Computer, media, social services and other sectors led the decline, with declines of – 0.6%, – 0.57%, – 0.38%.
Comments
The building decoration sector led the increase. At the central economic conference last December, the tone of “steady growth” was further clarified, and both fiscal and monetary policies are expected to continue to work. During the Spring Festival, the head of the national development and Reform Commission once again pointed out that there were many uncertain factors in the first quarter of this year. We should appropriately move the policy starting point forward, so as to make early arrangements, start early and achieve early results, so as to meet various challenges with a stable economic operation situation. We should step up the introduction of a series of policies and measures to implement the strategy of expanding domestic demand, and appropriately advance infrastructure investment. In addition, the overall performance of infrastructure related sectors is good, and the valuation is low, so the sector led the rise. In terms of individual stocks, Shenzhen Institute Of Building Research Co.Ltd(300675) , Henan Provincial Communications Planning & Design Institute Co.Ltd(300732) , Metallurgical Corporation Of China Ltd(601618) and other individual stocks rose by the limit.
Gains were led by the petroleum and petrochemical sector. During the Spring Festival, oil prices continued to rise. As of February 7, Brent crude oil prices stood at $93. The rise of crude oil price mainly comes from two aspects. On the one hand, the global situation is tense. As a major crude oil country, Russia Ukraine conflict makes the market expect to reduce production; On the other hand, OPEC has maintained a high implementation rate of production reduction and limited increase in production. At the same time, the global economic recovery and rising crude oil demand further promote the rise of oil prices. In terms of individual stocks, China Oilfield Services Limited(601808) , China Petroleum Engineering Corporation(600339) , huaiyou shares and other individual stocks rose by the limit.
The overall strength of the steel sector. At the news level, the Ministry of industry and information technology and other three departments issued guidance on promoting the high-quality development of the iron and steel industry, and proposed to strive to complete the ultra-low emission transformation of more than 80% of the iron and steel production capacity by 2025, reduce the comprehensive energy consumption per ton of steel by more than 2%, and reduce the intensity of water resources consumption by more than 10%, so as to ensure that the carbon peak can be reached by 2030, and it is strictly prohibited to add new iron and steel production capacity. At the performance level, the overall performance of the industry disclosed in the annual report is good. At the same time, it is expected to drive demand under the background of infrastructure development this year. In terms of individual stocks, Zhejiang Kingland Pipeline And Technologies Co.Ltd(002443) , Xinxing Ductile Iron Pipes Co.Ltd(000778) limit, Beijing Shougang Co.Ltd(000959) rose 8.81%
Outlook
During the Spring Festival, the disturbance of the Fed’s expectation of raising interest rates gradually slowed down, the overseas market recovered as a whole, and the A-share market also ushered in a “good start”. The Shanghai stock index rose by more than 2%, and the net inflow of funds to the North exceeded 5 billion yuan. Overall, “steady growth” is still the main tone of the whole year. The joint efforts of monetary policy and fiscal policy will provide basic support for the macro-economy. At the configuration level, we believe that the layout should be carried out from the perspective of “performance improvement”. It is suggested to pay attention to the nonferrous metals industry and electronics industry with high pre happy rate disclosed in the annual report, as well as the power industry chain and infrastructure with expected improvement.
Risk warning: the profit of the enterprise is less than expected; Increased volatility in overseas markets; Systemic risk
