Track stocks that experienced adjustment before the Spring Festival continued to fall after the long Spring Festival holiday. The leading stocks represented by Contemporary Amperex Technology Co.Limited(300750) , Wuxi Apptec Co.Ltd(603259) , Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) all fell by more than 17% in just one week. Correspondingly, the performance of coal, petrochemical and banking sectors is eye-catching, and the market is still on the road of rebalancing.
track stock depth adjustment
From the market performance after the Spring Festival holiday, the track stocks with eye-catching performance in the past few years continued to suffer losses, and the lithium battery leader Contemporary Amperex Technology Co.Limited(300750) fell 17%. Under the impact of rumors, Wuxi Apptec Co.Ltd(603259) fell by 20.73% in volume, and the share price fell back to before July 2020.
From the performance of the fund, the “injury” of the medical theme fund is serious. As of February 10, China EU medical innovation, China Maritime pharmaceutical health industry, Qianhai open source medical health and other funds have all fallen by more than 23% this year.
For a long time, since the second half of last year, the share prices of many pharmaceutical stocks sought after by people in previous years have been “halved”. For example, the share price of dental leading stock Topchoice Medical Co.Inc(600763) exceeded 420 yuan in the middle of last year, and the latest share price was less than 150 yuan. The share price of cro leading stock Pharmablock Sciences (Nanjing) Inc(300725) fell from 210 yuan to about 80 yuan. The share prices of Hangzhou Tigermed Consulting Co.Ltd(300347) , Wuxi Apptec Co.Ltd(603259) and so on are in the state of “halving”. The cro sector, which has been sought after in the past few years and its share price has risen steadily, has now become a hot potato in the hands of many investors.
“Being sought after when the stock price rises, attracting investors to buy or buy related funds has become a positive spiral effect. Now it has reversed, and investors continue to sell, exacerbating the decline of the stock price.” A private equity fund manager in Shanghai analyzed. In his view, the current market is in the stage of emotional catharsis. No matter how good the track is and how beautiful the prospect is, it will adjust if it rises more in the short term.
Corresponding to the decline of track stocks, undervalued sectors such as coal, petrochemical and banks have been sought after. Over the past two months, many coal stocks have rebounded by more than 30%.
focus on three investment opportunities in the future
How should investors respond to the sharp decline in the market? From the perspective of the industry, with the continuous decline of the market, the risk is decreasing, and multiple market bottom signals are quietly emerging. For example, fund companies have issued announcements to open the intensive self purchase mode. In the past, after the self purchase of fund companies, the market may decline slightly, but it is not far from the real bottom of the market. From the perspective of fund issuance, the highly sought after situation in the past no longer exists, and fund issuance becomes difficult, which is also a signal that the market is at the bottom. From the signal transmitted by private equity funds, many private equity funds are on the verge of stop loss line, and some funds have announced to start liquidation.
In the view of juming investment Liu Xiaolong, the current valuation level of the leading stocks of the representative leading track is basically reasonable. Although the first quarter is partial to the value style of infrastructure and finance, the market may gradually turn to the growth style when the steady growth policy is gradually implemented.
For specific investment opportunities, harmony Huiyi said that it mainly focused on the following aspects: first, the areas in line with the direction of steady growth policy, mainly real estate, infrastructure chain and cyclical boom varieties that are expected to benefit from the rise of oil prices; Second, the growth stock sector, focusing on smart cars with technological innovation expectations and consumer electronics with product innovation expectations; Third, in the field of dilemma reversal, pay attention to Hong Kong stock Internet companies and Hong Kong stock consumer goods companies that are also undervalued.
