On February 11, the A-share market continued to fluctuate at a low level as a whole, and the gem index weakened again and hit a new low. The leading gem stock Contemporary Amperex Technology Co.Limited(300750) fell sharply again, once falling more than 5%, becoming one of the main driving forces that dragged down the continuous decline of the gem index.
It is worth noting that the recent strength of Chinese prefix concept stocks has become one of the main forces for the stable performance of the Shanghai index. This morning, the long silent China Life Insurance Company Limited(601628) A shares soared by more than 8%. The strength of China Life Insurance Company Limited(601628) also led to the further strength of the long silent insurance sector. The wind insurance index soared by nearly 5% in the morning.
Overall, in early trading, stocks fell more or rose less, and more than 3500 stocks fell. The half day turnover of the two cities reached 607.3 billion yuan, 38 billion yuan higher than that in the morning of the previous trading day.
A-share low shock
The insurance sector soared 5%
The A-share market continued to fluctuate at a low level, the trend of the Shanghai index was relatively strong, and the gem index weakened again, hitting a new low at this stage.
As of the morning closing, the Shanghai Composite Index rose 0.34%, the Shenzhen composite index fell 0.31% and the gem index fell 1.36%.
In the sector, insurance stocks led the rise, and China Life Insurance Company Limited(601628) A shares soared by more than 8% during the session. China Pacific Insurance (Group) Co.Ltd(601601) , New China Life Insurance Company Ltd(601336) , Ping An Insurance (Group) Company Of China Ltd(601318) followed.
For the insurance industry, the recent research view of Huachuang Securities believes that the recent rise of the sector is mainly contributed by beta, and the asset side catalyzes the valuation repair. However, the core fundamentals of the industry have not changed. It is expected that the liability side is still weak in the first quarter and the first half of the year. The sector will still be at the bottom stage for a period of time. The inflection point of the liability side needs to be observed for the rising market. Huachuang Securities pointed out that the operating data of the insurance industry released by the China Banking and Insurance Regulatory Commission in December showed that the monthly premium of industrial life insurance companies in December was 20.2 billion yuan, a year-on-year increase of + 1.7%, including 152.1 billion yuan of life insurance, a year-on-year increase of + 3.6%; Health insurance was 46.3 billion yuan, a year-on-year increase of – 3%; Accidental injury insurance was 3.6 billion yuan, a year-on-year increase of – 9.3%. The growth of life insurance premium has improved compared with the previous period, which is expected to be mainly contributed by the full start of “a good start” and the sprint of performance at the end of the year. As of December, the cumulative premium growth rate of life insurance companies was – 1.4%. Property insurance companies continued to pick up in December, with a monthly premium of 123.6 billion yuan in December, a year-on-year increase of + 13.2%, an increase of 5.32 percentage points over the previous month. Among them, auto insurance was 82.1 billion yuan, a year-on-year increase of + 7.38%, and the growth rate continued to pick up; Non auto insurance was 41.4 billion yuan, up + 26.7% year-on-year, rebounding strongly, thanks to the rapid growth of health insurance and agricultural insurance. Health insurance returned to normal after a sharp decline in the past three months, with a monthly growth rate of + 64.5%. The growth rate of other types of insurance also rebounded, and several types of insurance became positive month on month, realizing the positive growth of all types of insurance in a single month.
Not only insurance, the performance of the whole large financial sector was relatively strong in the morning. Under the category of Shenwan industry, the non bank financial sector rose by more than 2% and the banking sector rose by more than 1%.
On individual stocks in the sector, Xiangcai Co.Ltd(600095) pulled the daily limit at the end of the morning.
Bank of Lanzhou also raised the limit sharply in the late morning.
Other Chinese prefix and central enterprise concept stocks also rose.
Petrochina Company Limited(601857) A shares rose nearly 6% again.
China State Construction Engineering Corporation Limited(601668) A shares hit another stage high, with an intraday increase of more than 4%.
In addition, the real estate industry performed strongly. Under Shenwan real estate industry, 9 stocks rose by the limit.
Tourism stocks exploded, China United Travel Co.Ltd(600358) , Caissa Tosun Development Co.Ltd(000796) , Xi’An Qujiang Cultural Tourism Co.Ltd(600706) limit. According to the research view of Caitong Securities Co.Ltd(601108) , the core investment logic of the tourism sector is “repair + growth”. Restoration refers to the restoration of the original business with the weakening of the marginal impact of the epidemic and the adjustment of policies. At present, the stabilization of the overall market and the rebound of some markets have begun to catalyze the “repair market”. The marginal impact of the epidemic is weakening. Under this logic, priority should be given to scenic spots, hotels and catering. Growth refers to the germination of new growth momentum and new logic. Cultural tourism IP assets such as scenic spots are expected to expand new growth space through the digital collection market. At present, they have shown signs, and the “growth market” is expected to be brewing. This logic will give priority to the objects of cultural and tourism scenic spots with strong IP attributes, such as Qujiang, Huangshan, Emeishan, Zhang Jia Jie Tourism Group Co.Ltd(000430) , China Cyts Tours Holding Co.Ltd(600138) , Guilin Tourism Corporation Limited(000978) , Songcheng Performance Development Co.Ltd(300144) .
The coal sector rose sharply, Pingdingshan Tianan Coal Mining Co.Ltd(601666) , Yankuang energy, Shanxi Coking Coal Energy Group Co.Ltd(000983) and so on. According to the research view of Guotai Junan Securities Co.Ltd(601211) , the investment in coal stocks in 2022 should not be too tangled with coal prices and explore alpha opportunities. There is more room for increasing holdings with high dividend + transformation. After the ups and downs of the coal market in 2021, the government has sufficient means to maintain the stability of coal prices. The high performance and high flexibility brought by the sharp rise in prices will be difficult to appear in 2022, but it can be clear that the government has tolerance for relatively high coal prices, the coal prices will operate at a high level, and the long-term agreement price will increase significantly year-on-year, Thus, the profit center of the enterprise will jump to a higher level, and value discovery will become the main theme of coal stock investment in 2022. In February 2022, the q5500 long-term association price of Qinhuangdao Power Coal was 725 yuan / ton. Under the new mechanism, the high long-term association price was maintained and significantly increased year-on-year, and the capital expenditure cash flow finance profit dividend will be continuously optimized. With the coal enterprises will successively disclose their annual reports after March 2022, the new dividend scheme under the high long-term association and high profit is worth looking forward to. In addition, the State encourages the governance of coal mining subsidence areas through the construction of photovoltaic projects, and judges that some coal enterprises will use local resources to obtain green power projects, and the transformation is expected to accelerate.
Building materials, non-ferrous metals and other sectors also rose sharply.
The large pharmaceutical sector weakened again, with a decline of more than 2%.
“ningwang” fell below 500 yuan after four months
The new energy track leading stock Contemporary Amperex Technology Co.Limited(300750) as the “first brother in the market value of the gem” fell again this morning. It once fell below the 500 yuan mark and returned below 500 yuan after four months. With the decline of the share price, the share price of the stock also reached the annual level.
As of midday closing, Contemporary Amperex Technology Co.Limited(300750) share price rose slightly, still down 2.53% to 505 yuan / share, with a total market value of 1177.1 billion yuan.
It is worth noting that previously, for five consecutive trading days from January 26 to February 8, the financing funds under the two financial institutions sold Contemporary Amperex Technology Co.Limited(300750) continuously. However, they showed net buying since February 9, especially when they fell sharply on February 10, the financing funds bought 272 million yuan Contemporary Amperex Technology Co.Limited(300750) .
Northward funds have a similar trend in Contemporary Amperex Technology Co.Limited(300750) . According to the data, on February 10, BEIXIANG capital net bought more than 200 million yuan Contemporary Amperex Technology Co.Limited(300750) , ending the previous net selling trend for several consecutive trading days. Up to now, the number of Contemporary Amperex Technology Co.Limited(300750) shares held by BEIXIANG capital still accounts for more than 15% of the freely circulating share capital.
in addition to Contemporary Amperex Technology Co.Limited(300750) , northbound funds also net bought Eve Energy Co.Ltd(300014) , Yunnan Energy New Material Co.Ltd(002812) on February 10, but still net sold Ganfeng Lithium Co.Ltd(002460) .
The strategic view of Shanxi Securities Co.Ltd(002500) is still relatively optimistic about the future market. At the same time, it still emphasizes to grasp the opportunities of undervalued sub sectors in market style adjustment. The strategic view of the securities firm believes that in the short term, it is still recommended to focus on defensive targets such as finance and mandatory consumption, and focus on livestock breeding, banking, insurance and other sectors, Pay attention to the valuation repair opportunities brought by the accelerated recovery of the service industry to tourism, machine wine and other sectors. In the medium and long term, it is suggested to continue to pay attention to the realization of themes such as low-carbon transformation, digital economy and heavy weapons in large countries, and deeply tap the high-quality targets of subdivided sectors such as hydrogen energy, 5g +, high-end equipment.
