On Tuesday, the differentiation of A-Shares intensified, and the gem index fell by more than 4% at one time. After the decline of the Shanghai index, it walked out of the "deep V" trend and turned red driven by financial stocks such as securities companies and banks.
As of the close, the Shanghai composite index reported 3452.63 points, up 0.67%; The Shenzhen Composite Index and the gem index fell 0.98% and 2.45% respectively. A total of 878.8 billion yuan was traded in Shanghai and Shenzhen, and 817 million yuan was sold to the north.
On the disk, new energy, CXO, semiconductor and other track stocks collectively fell, the largest heavyweight stock Contemporary Amperex Technology Co.Limited(300750) on the gem fell 6.66%, and leading stocks such as Naura Technology Group Co.Ltd(002371) , Luxshare Precision Industry Co.Ltd(002475) made a deep adjustment. Undervalued sectors showed resistance, with banks, securities companies, infrastructure and other sectors leading the gains.
Zhongrong Fund believes that the market decline has both style influence and emotional reasons. The core reason for the weak market in the near future is that the valuation and position of the manufacturing growth sector with good performance in 2021 are high, and the position adjustment of investors has brought about the rebalancing of the sector.
Yesterday, the CXO sector led the decline, and "yaomao" Wuxi Apptec Co.Ltd(603259) fell rapidly after opening. However, the game between Shanghai Stock connect seats and institutional seats is fierce. The dragon and tiger list of Wuxi Apptec Co.Ltd(603259) shows that yesterday, the seats of Shanghai Stock connect bought 169 million yuan and sold 628 million yuan, another four institutional seats bought 574 million yuan and four institutional seats sold 655 million yuan.
The financial sector continued to rise yesterday, driving the Shanghai index to turn red. Among bank stocks, Lanzhou bank rose the limit, Xiamen Bank Co.Ltd(601187) , Industrial And Commercial Bank Of China Limited(601398) , Agricultural Bank Of China Limited(601288) and so on.
The counter trend rise of the banking sector is inseparable from good fundamentals. Data show that since this year, 19 A-share listed banks have issued performance letters, of which 12 banks' net profits have increased by more than 20%.
China Merchants Securities Co.Ltd(600999) Liao Zhiming, chief banking analyst, believes that the trend of bank stocks in the future depends more on the market's expectations of the economy and performance. After the economic policy center shifts to "steady growth", with the force of the policy, the economy will continue to recover and promote the repair of Bank stock valuation.
The brokerage sector is also one of the important forces to help the Shanghai index reverse. Yesterday, Guolian Securities Co.Ltd(601456) rose sharply in the afternoon, and Shanghai Chinafortune Co.Ltd(600621) , Sealand Securities Co.Ltd(000750) , Chinalin Securities Co.Ltd(002945) closed up more than 4%. Guosheng Securities said that the data of the fund's fourth quarter report in 2021 showed that in the large financial sector, the fund reduced the allocation of banks and insurance, and the securities companies obtained additional allocation. The probability of performance of securities companies in the fourth quarter of 2021 is higher than expected, and the annual performance is expected to grow high.
In addition, the infrastructure sector has risen for two consecutive days since the opening of the year of the tiger. As of yesterday's close, Hualan Group Co.Ltd(301027) , Chongqing Construction Engineering Group Co.Ltd(600939) and other more than 10 individual stocks collectively rose by the limit. In terms of news, the relevant person in charge of the national development and Reform Commission said a few days ago that infrastructure investment should be carried out moderately in advance and the implementation of 102 major projects in the 14th five year plan should be solidly promoted.
Many securities companies believe that the current large infrastructure sector is in the undervalued range, which is expected to usher in new development opportunities driven by policies. Guotai Junan Securities Co.Ltd(601211) believes that the market selling pressure has not been fully released, the superimposed risk appetite is low, the capital will still "flow to the low", and the style will accelerate the switching to undervalued value. It is suggested to pay attention to the undervalued sector with the infrastructure chain as the core.
Anxin Securities said that at present, the overall fundamentals of the construction industry are improving, especially the rapid growth of orders from central infrastructure enterprises and local infrastructure leaders, which will help improve performance. In the future, it will take the lead in benefiting from the release of infrastructure demand under the goal of "stable growth".
