Today (February 14), the Shanghai and Shenzhen stock markets opened low across the board. The gem index rose rapidly after the opening, and the Shenzhen Composite Index turned red. However, with the decline of financial stocks, the Shanghai index continued to weaken, which dragged down the gem index, resulting in the rise and fall. The three major stock indexes showed a weak pattern of pulse downward throughout the day.
As of the close of Shanghai and Shenzhen stock markets all day, the Shanghai index fell 0.98% to 3428.88 points; The Shenzhen Component Index fell 0.77% to 13123.21 points; The gem index fell 0.52% to 2732.01.
From the disk point of view, the rise and fall of industry and concept sectors are different, and the local profit-making effect is still in existence. In terms of industries, tourism and hotels, precious metals, education, household light industry, cultural media, chemical pharmacy, aerospace and other industries led the increase; In terms of subject matter stocks, covid-19 drugs, online tourism, tax rebate concept, film and television concept and so on rose higher.
In terms of funds, the central bank announced on February 14 that in order to maintain the reasonable and abundant liquidity of the banking system, the people’s Bank of China launched a 10 billion yuan reverse repurchase operation by means of interest rate bidding on February 14, 2022, with a bid winning interest rate of 2.10%. As 220 billion yuan of reverse repo expired today, the people’s Bank of China realized a net withdrawal of 210 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 passenger Federation, the retail sales of generalized passenger cars in China decreased by 4.5% year-on-year in January.
2. According to the Beijing business daily, on February 12, the official website of the State Food and Drug Administration issued a document saying that the State Food and Drug Administration conducted emergency review and approval in accordance with the relevant provisions of the drug administration law and the special drug approval procedures, and approved the import registration of the combined packaging of nevitavir tablets / ritonavir tablets (i.e. paxlovid) of Pfizer covid-19 virus treatment drug conditionally.
3. According to China news network, on the 14th, the national development and Reform Commission revised and formed the measures for supervision of grain quality and safety (Draft for comments). The main contents of the revision include: improving the quality and safety management system of grain circulation; Strengthen the capacity-building of food quality and safety inspection and monitoring; Strengthen supervision and management and increase punishment.
4. According to the Shanghai Securities News, Wang Songlin, deputy director of the law enforcement inspection bureau of the State Administration of market supervision, said at a special press conference on Comprehensively Strengthening the protection of intellectual property rights of the Winter Olympics on the 14th that the next step will continue to promote the special action for the protection of intellectual property rights of Olympic symbols, strive to improve the efficiency of law enforcement and maintain the trend of severely cracking down on infringement and illegal acts. First, strengthen law enforcement inspection. Second, strengthen regional law enforcement cooperation. Third, give full play to the advantages of comprehensive law enforcement.
institutional perspective
For the current market, Guosheng securities mentioned that the current market sentiment is relatively pessimistic, and it also takes time to repair market confidence. The lack of mainstream hot spots leads to insufficient market profit-making effect. The index may have further downward demand in the short term. In the short term, we still need to be cautious and wait for the bottom signal.
Southwest Securities Co.Ltd(600369) pointed out that at present, A-Shares are indeed in a “dilemma” and “under the flood” also need to lower expectations. But does this mean that A-Shares have no chance? We don’t think so. At present, there are at least three areas with opportunities for A-share Jedi assault. One is the “dilemma reversal” of the epidemic damaged sector. It mainly includes business tourism and other fields. Second, the dilemma reversal of “stable growth” related sectors. It mainly includes construction, building materials, raw materials, real estate and other sectors. These sectors win in low valuation, low institutional expectations and low allocation proportion. However, with the introduction of the policy of steady growth, the market’s expectations for it gradually increased. Third, it is the sector with stable performance growth and relatively low valuation in the performance forecast. In contrast, this direction is more decentralized and focuses more on bottom-up stock selection.
Macroscopically, China Merchants Securities Co.Ltd(600999) believes that the growth rate of new social finance in January has become positive and will gradually enter the upward cycle, which is conducive to improving investors’ pessimistic expectations of profits, which is one of the important conditions for the previous bottoms of a shares. As 2022 is a stable growth year, the growth rate of new social finance is expected to continue to rise, forming a positive support for a shares. After the Fed’s interest rate hike and other external factors affecting risk appetite are gradually implemented, A-Shares are expected to return to the upward cycle. The judgment of “√” of A-share trend throughout the year, “undervalued +” and “depression strategy” are still the dominant allocation strategy at present.
Huaxi Securities Co.Ltd(002926) said that it is currently in the stage of repeated bottom grinding and in the stage of strategic layout in the medium and long term. The current A shares are still in a period of shock and repeated bottom grinding. The adjustment of the A-share overvalued boom track is a “cold spring” after the general rise in the early stage. Many factors restricting the strength of the A-share market need to be gradually digested.
The agency further analyzed that for a longer period of time, A-Shares are in the stage of strategic layout. First, after nearly two months of release of market sentiment and short-term violent venting, the risk has been fully released; Second, the long-term sound and positive trend of China’s economy remains unchanged. At present, it is in the transmission period from wide currency to wide credit, and the follow-up steady growth policy is expected to gradually strengthen; Third, from the forecast of annual reports of listed companies, there are many structural highlights in the profits of A-share enterprises.
