Market review: the Shanghai and Shenzhen index continued to callback, led by the non bank financial sector
Today, the Shanghai and Shenzhen index continued its correction trend. After opening low in the morning, it fluctuated downward all day. As of the close, the Shanghai index fell 0.98% to 3428.88 and the Shenzhen index fell 0.76% to 13123.21. In terms of sectors, food and beverage, comprehensive, textile and clothing led the increase, while non bank finance, building materials and real estate led the decline. The turnover of the two cities was 862.46 billion yuan, down 13.02% from the previous trading day and 5.47% from the average of the previous five days. The net sales of Shanghai Stock connect were 1.37 billion yuan, the net sales of Shenzhen Stock connect were 2.418 billion yuan, and the net sales of northbound funds throughout the day were 3.788 billion yuan.
Market focus:
The people's Bank of China recently released the report on the implementation of China's monetary policy in the fourth quarter of 2021, which pointed out that in the next stage, prudent monetary policy should be flexible and appropriate, strengthen cross cycle regulation, give full play to the dual functions of the total amount and structure of monetary policy tools, pay attention to sufficient, accurate and forward force, and do not engage in "flood irrigation", We will also meet the reasonable and effective financing needs of the real economy, strive to increase financial support for key areas and weak links, and achieve a better combination of stable aggregate and excellent structure.
Strategy suggestion: focus on the undervalued sector
Today, the two markets continued the correction trend of last Friday. After the opening, they continued to fluctuate downward, and the decline widened in the afternoon. The Shanghai and Shenzhen indexes once fell by more than 1% and rose slightly in the late trading. In terms of the research and judgment of the general trend of a shares, we believe that the post holiday repair of the current market is gradually approaching the pressure level. Although the easing of the macro environment is still expected to continue in the short term, the trend upward momentum is insufficient. It is still recommended to focus on undervalued blue chips with high prosperity level.
In terms of sectors, the steady growth sectors such as real estate, finance and steel have been collectively adjusted. Among them, the securities concept sector led the decline, with individual stocks in the sector generally falling, and China stock market news falling by more than 13%. The main force had a significant net outflow, or it was mainly caused by greater downward pressure during the stock conversion period. From the perspective of the medium-term and long-term adjustment of the business scale of the insurance sector, it is expected that the short-term adjustment of the sub market of the wealth management sector will lead to a decline in the short-term or medium-term adjustment of the sub market of the wealth management sector Individual stocks of securities companies with strong advantages in customer service ability are still expected to repair the valuation. It is suggested to pay continuous attention from the "bottom-up" dimension. In addition, the entertainment concept sectors such as film and television, tourism and scenic spots, duty-free shops and so on performed strongly all day, which verified what we previously stressed that with the gradual decline of the impact of the epidemic, the expected adjustment of relevant undervalued sectors is expected to bring trend upward opportunities. At the same time, under the influence of the escalation of tensions between Russia and Ukraine over the weekend, today's national defense and military industry, gold and jewelry and other sectors are among the top gainers. We believe that geopolitical issues will still repeatedly affect the asset price adjustment in the capital market in the short term. Combined with the fact that the current military industry sector has stepped out of a certain margin of safety, it is suggested to continue to pay attention and make timely layout. Contemporary Amperex Technology Co.Limited(300750) after refuting the rumor over the weekend, the new energy track stocks rose once after opening today, but then reappeared the "fatigue" shock and fell back. We re emphasize that under the current environment of high uncertainty at home and abroad, the target of the relevant overvalued growth sector has not yet "hit the bottom", and the recovery power is limited. It is recommended to deal with it carefully.
Risk tip: the macro-economy is less than expected, the national epidemic is more than expected, and the geopolitical risk is intensified.
