Since 2022, there has been a sudden change in the market style. Not only the growth track stocks have experienced a correction, but also the “drinking and taking medicine” market has suffered a sharp decline. In contrast, the undervalued banking sector and “two barrels of oil” performed well. According to the data, as of today (February 14), the market value of Petrochina Company Limited(601857) and China Construction Bank Corporation(601939) has increased the most this year, exceeding 100 billion yuan. In addition, the market value of Kweichow Moutai Co.Ltd(600519) and Contemporary Amperex Technology Co.Limited(300750) has evaporated the most this year.
Excluding secondary new shares, Petrochina Company Limited(601857) (RMB 166.5 billion), China Construction Bank Corporation(601939) (RMB 100 billion), Postal Savings Bank Of China Co.Ltd(601658) (RMB 68.4 billion), Industrial Bank Co.Ltd(601166) (RMB 66.7 billion), China Shenhua Energy Company Limited(601088) (RMB 64.6 billion), Ping An Insurance (Group) Company Of China Ltd(601318) (RMB 63.8 billion), China Merchants Bank Co.Ltd(600036) (RMB 62.8 billion) and Industrial And Commercial Bank Of China Limited(601398) (RMB 60.6 billion) ranked first in market value growth during the year, and all exceeded RMB 60 billion. In addition, Kweichow Moutai Co.Ltd(600519) (227.8 billion yuan), Contemporary Amperex Technology Co.Limited(300750) (186.5 billion yuan), Longi Green Energy Technology Co.Ltd(601012) (113 billion yuan), Byd Company Limited(002594) (105.2 billion yuan) ranked among the top in terms of market value evaporation during the year, all exceeding 100 billion yuan. It is not difficult to find that the market style has changed to some extent. The representatives of “Mao index” and “Ning combination”, Kweichow Moutai Co.Ltd(600519) and Contemporary Amperex Technology Co.Limited(300750) , have retreated sharply this year, while the previously weak undervalued blue chip has continued to strengthen.
Statistics show that the top 20 of market value growth are mainly banks, cycles and transportation, and the top 20 of market value evaporation are mainly medicine, biology, power equipment and electronics. Haitong Securities Company Limited(600837) believes that under the shock of the market, the stable growth spring market will not be absent. In terms of structure, the value will be first and then growth, such as undervalued financial real estate, new energy and digital economy of new infrastructure.
