Today (February 11), the Shanghai and Shenzhen stock markets opened low across the board. With the support of the large financial market, resource stocks strengthened, leading the stock index to rise rapidly and turn red; However, many sectors such as medicine and biology fell sharply, which dragged down the index. In the afternoon, Contemporary Amperex Technology Co.Limited(300750) continued to bottom, further accelerating the decline of the gem index, while the Shanghai index was relatively resistant to decline. Although there were repeated intraday, the overall trend was volatile.
As of the day’s closing of Shanghai and Shenzhen stock markets, the Shanghai index fell 0.66% to 3462.95 points; The Shenzhen Component Index fell 1.55% to 13224.38 points; The gem index fell 2.84% to 2746.38.
From the disk point of view, large financial and resource stocks work together to do more, and the local profit-making effect remains. In terms of industries, insurance, energy metals, coal, banking and other industries rose against the market; In terms of subject stocks, digital currency, lithium extraction from Salt Lake and power battery recycling rose slightly. In terms of individual stocks, the “big guys” have great power, Petrochina Company Limited(601857) , China Life Insurance Company Limited(601628) and other gains are ahead, while Andon Health Co.Ltd(002432) , Byd Company Limited(002594) , Contemporary Amperex Technology Co.Limited(300750) and other targets have fallen into the top ten list of net outflow of main forces.
In terms of funds, the central bank announced on February 11 that in order to maintain the reasonable and abundant liquidity of the banking system, the people’s Bank of China launched a 20 billion yuan reverse repurchase operation by means of interest rate bidding on February 11, 2022, with a bid winning interest rate of 2.10%. In view of the maturity of 200 billion yuan of reverse repo today, the people’s Bank of China realized a net withdrawal of 180 billion yuan in a single day.
hot sector
Top 10 gainers in industry sector
Top 10 industry sector declines
Top 10 gainers in concept sector
Top 10 decline in concept sector
individual stock monitoring
Top 10 net inflow of main forces
Top 10 net outflow of main force
northbound funds
southbound fund
message plane
1. According to the financial report of China Central Television, on the 11th, the State Council Information Office held a regular policy briefing of the State Council to introduce the progress of deepening the reform of centralized procurement of drugs and high-value medical consumables. Chen Jinfu, deputy director of the National Medical Security Bureau, said that dental implant is an important method of dental restoration treatment. There is great social demand and many services provided by medical institutions. (centralized collection of dental implants) It has been deployed since the beginning of last year. Sichuan has organized an inter provincial alliance to study the rules of centralized dental implant collection. Now the scheme is basically mature, and the opinions of clinical, enterprises and local governments have been widely heard. It is prepared to launch such an alliance reform of centralized dental implant collection in the first half of this year. In fact, it is also a layout led by the state, A centralized mining method for dental implant exploration. “
2. According to the national development and Reform Commission, in view of the recent changes in iron ore prices and other relevant situations, the price department of the national development and Reform Commission and the price supervision and Competition Bureau of the State Administration of market supervision plan to send a joint research team to some commodity exchanges and key ports to carry out iron ore market supervision and research. The research team will focus on the recent changes in iron ore inventory and the participation of relevant enterprises in iron ore futures and spot trading, and listen to the opinions and suggestions of relevant parties on strengthening the linkage supervision of futures and spot market, and severely cracking down on fabricating and disseminating price increase information, hoarding, bid up prices and malicious speculation.
3. According to the central bank’s website, RMB loans increased by 3.98 trillion yuan in January, a monthly statistical high, an increase of 394.4 billion yuan year-on-year. At the end of January, the balance of broad money (M2) was 243.1 trillion yuan, a year-on-year increase of 9.8%, 0.8 and 0.4 percentage points higher than that at the end of last month and the same period of last year respectively.
4. According to the official website of Beijing Municipal People’s government, the implementation plan on promoting the high-quality development of Beijing Urban sub center was announced today. The plan proposes to attract financial institutions and large science and technology enterprises to set up financial technology companies in urban sub centers, and support financial institutions and enterprises to carry out financial science and technology innovation activities in accordance with laws and regulations. We will build a pilot area for legal digital currency and a digital financial system, actively promote the pilot of legal digital currency in urban sub centers, actively attract large banks and other legal entities to set up digital RMB operations, attract qualified banks to participate in the pilot of direct banking, and explore the construction of digital asset trading venues. Build a joint laboratory for financial risk monitoring, early warning and regulatory innovation in Beijing Sub Center to effectively prevent and resolve financial risks.
institutional view
Soochow Securities Co.Ltd(601555) it was mentioned earlier that the gem index was dragged down by the continuous sharp decline in Contemporary Amperex Technology Co.Limited(300750) and the direction of medicine, and there was no stabilization signal in the technical side. It is still recommended to watch carefully in the short term. In terms of operation, it is suggested to light the index and focus on individual stocks, cautiously pursue the rise, try to avoid crowded hot tracks, and focus on the recovery line and digital economy in the short term.
China International Capital Corporation Limited(601995) mentioned that since the beginning of the year, A-Shares have been adjusted due to the interest rate hike of the Federal Reserve and the changes of China’s economic cycle. At present, the “policy bottom” is gradually emerging, but the prosperity has not reversed the downward trend since the third quarter of last year. According to past experience, “policy bottom”, “market bottom” and “boom bottom” usually appear successively, with a transition period of 2-3 quarters.
China International Capital Corporation Limited(601995) also pointed out that at present, it is in the early stage of stable growth. Looking back on the initial performance of several policy easing in 2012, 2014 and 2018, it can be found that although the overall performance of the initial stock market is weak, the undervalued, high dividend yield and cyclical sectors are relatively good, such as finance and real estate. High valuation sectors such as gem index and medical technology have the risk of further valuation decline.
The agency further analyzed that after the inflection point of probability A-Shares appeared in the second and third quarters, with the recovery of market sentiment, the growth sector after valuation adjustment is likely to lead the rise of a shares. For example, the growth enterprise market index rose much higher than the market index in 2013 and 2015. It is suggested that investors grasp the structural opportunity and adjust the investment rhythm.
In addition, Ping An Securities pointed out that the policy combination fist shows that the policy bottom has appeared and the market bottom has gradually approached. Focus on the two clues and four main lines of high-quality steady growth and post epidemic recovery: ① under the background of steady growth, infrastructure may become an important starting point for supporting the economy; The expected improvement of credit environment will help boost the prosperity of the financial sector. ② Transportation, wine travel, etc. may benefit from the improvement of the epidemic situation. ③ Yuancosmos, digital economy, high-end manufacturing and other innovation driven sectors, ④ new energy vehicles, new energy and other green development sectors, both of which provide the power of steady growth as the new economy.
In addition, Guosheng Securities believes that before the effective upward breakthrough in the market, we should still control the overall position and be suitable for low absorption. “Stable growth” and “post epidemic era” will become the main logic driving the operation of the market. It pays attention to traditional infrastructure such as building materials and undervalued sectors such as banking and insurance. It is suggested to properly layout the digital economy, central enterprise reform Tourism, hotel, air transportation and other theme sections.
