In Shanghai and Shenzhen stock markets, the stock index rebounded for four days in a row. Today, it slightly corrected by 0.66%, and the gem continued to adjust, down 2.84%. The trading volume of the two cities is 991.5 billion, getting closer and closer to trillion. Digital currency, salt lake lithium, and large financial sectors were among the top gainers.
For the recent market adjustment, the article mentioned two points yesterday, one is the social finance data in January, and the other is the CPI data of the United States.
As for China’s social finance data in January, it is better than the market expectation on the whole. In January, the new social finance is 6.17 trillion, and the market expectation is 5.4 trillion, of which the new credit is 3.98 trillion, and the market expectation is 3.7 trillion, and the growth rate of Social Finance has rebounded in three months, which shows that the background of China’s “wide currency + wide credit” has not changed.
However, the CPI released by the United States also “exceeded expectations”, and US inflation reached a 40 year high, leading to the warming of US interest rate hike. In fact, China’s loan growth rate is not enough, which causes the market to shift the direction to the direction of inflation, resulting in insufficient confidence in funds. Due to the poor economy and insufficient market demand, it also emphasizes stable growth. Such a one-way operation has plunged the market into confusion.
At present, the core of the market is the adjustment and end of track share market direction, and the continuation of the panic after the low medical and medical innovation. After waiting for the full decline of valuation in the direction dominated by institutions, there is bound to be an opportunity to repair the expected difference.
At this stage, the impact of sentiment is far greater than the impact of Fundamentals (stabilizing the economy and broadening the currency). However, the killing of valuation caused by the extreme valuation will not lead to a bear market. Only China’s interest rate increase will lead to a systematic sharp decline. From the current policy point of view, under the guidance of stabilizing the economy, the expectation of interest rate reduction is relatively strong.
Therefore, the major indexes of A-Shares are still not a problem, and the individual stock market is more active than the index. Now the most definite direction of the market is the infrastructure sector. When the traditional infrastructure meets the new infrastructure outlet, the profit-making effect will not be bad. In terms of themes, we can focus on the expectations of the two sessions, and the green power line is gradually clear, including wind power, optoelectronics, smart grid, etc.
Hot spot direction: {123567}
infrastructure / Construction: at the stage when economic policies are guided by stable growth and infrastructure investment is needed to stimulate the economy, the industry ushers in valuation repair. Strong stocks in the sector: Tangshan Jidong Equipment And Engineering Co.Ltd(000856) , Chongqing Construction Engineering Group Co.Ltd(600939) , Anhui Transport Consulting & Design Institute Co.Ltd(603357) etc.
green power: the two departments issued documents to promote green power certificate trading and promote green power consumption. This measure comprehensively improves the demand for green power, which is expected to bring both the volume and price of green power. Strong stocks in the sector: Ning Xia Yin Xing Energy Co.Ltd(000862) , Guangdong Shunkong Development Co.Ltd(003039) etc.
(risk warning: there are risks in the stock market, so investment should be cautious. The above contents and individual stocks are only for investors’ reference and are not used as the basis for investment decision-making.)
