On Tuesday, the gem index rebounded sharply and became a scenic spot of a shares. All three major A-share indexes rose, the gem index recovered 2800 points, Kechuang 50 also performed well, and track stocks rebounded strongly. Market participants believe that the impact of monetary tightening in the peripheral market on A-Shares is mainly at the emotional level. It is suggested to stick to the blue chip style. At present, we should closely follow the value blue chip main line catalyzed by the steady growth policy and continue to focus on the positive layout of “two low positions”.
capital return to emerging industries
On Tuesday, the A-share market rebounded comprehensively. Among them, the gem refers to the rising trend led by the sharp rise of track stocks such as biomedical sector and automobile electrification sector. Cro concept stocks and Ning portfolio worked together, and the gem index rose 3.09%. The three major A-share indexes rose and fell at the opening, the Shanghai index opened low, while the gem index and Shenzhen composite index opened high. After a short step back, the rebound of track stocks led to the rise of shock in Shanghai and Shenzhen. Near the end of trading, the growth of the two cities expanded, and the gem index rose by more than 3%. From the whole day, the pattern of strong Shenzhen and weak Shanghai was obvious. As of the close, the Shanghai Composite Index rose 0.5% to 3446.09 points; The Shenzhen Component Index rose 1.69% to 13345.63 points; The gem index rose 3.09% to 2816.44 points. The turnover between the two cities was 828.58 billion yuan, and the actual net outflow of funds from the North was more than 3.5 billion yuan. 2412 in the two cities rose, 2114 fell and 182 were flat. A total of 81 stocks in Shanghai and Shenzhen rose by more than 9%, and 17 stocks fell by more than 9%.
Looking ahead, Citic Securities Company Limited(600030) said that the current market style is in the process of transformation from growth to value. The growth track in the second quarter is expected to usher in systematic repair after the three conditions are complete. In the first half of the year, the impact of peripheral currency tightening on A-Shares was mainly at the emotional level, and the actual impact was limited. It is suggested to stick to the blue chip style throughout the year. At present, we should stick to the main line of value blue chips catalyzed by the steady growth policy and continue to focus on the positive layout of “two low positions”, that is, low undervalued blue chips.
Guotai Junan Securities Co.Ltd(601211) believes that on the whole, the market shock rebounded, and the gem index recovered its five-day moving average and began to show signs of stopping the decline and stabilizing. Since the beginning of this year, the market has significantly adjusted, mainly due to the negative impact of the Fed’s higher than expected interest rate hike and the significant rise in overseas inflation. However, the monetary policy and economic recovery rhythm of China and overseas are not synchronized. The current market point has basically fulfilled the bad expectations, and the further downward space is relatively limited. At present, the market has once again entered the area of cost-effective allocation.
enter the cost-effective configuration area
On Tuesday, the stocks of medical treatment, new energy, electrical equipment and semiconductor circuit continued to rise. In terms of sectors, cro continued to rebound, leading the two cities, driving the rise of the pharmaceutical and biological sector, and more than 10 stocks such as Wuxi Apptec Co.Ltd(603259) rose by the limit. Contemporary Amperex Technology Co.Limited(300750) rose by more than 3%, driving the continued rebound of Nanjing portfolio, Joinn Laboratories (China) Co.Ltd(603127) , Asymchem Laboratories (Tianjin) Co.Ltd(002821) and Advanced Micro-Fabrication Equipment Inc.China(688012) rose by more than 8%. Bank stocks rose and fell, leading the decline. Baijiu is good, Qinghai Spring Medicinal Resources Technology Co.Ltd(600381) , Gansu Huangtai Wine-Marketing Industry Co.Ltd(000995) limit, Hai Nan Yedao (Group) Co.Ltd(600238) , Jiugui Liquor Co.Ltd(000799) , Shede Spirits Co.Ltd(600702) also outstanding performance.
Coal stocks showed a sluggish performance, with power investment energy and Jizhong Energy Resources Co.Ltd(000937) falling by more than 3%. As the national development and Reform Commission has repeatedly paid attention to and intervened in the iron ore market, the price of iron ore fell sharply. China’s commodity futures market fell more or less in the afternoon, led by the black system. The main contracts of iron ore futures fell nearly 9% and power coal fell nearly 6%. According to the Research Report of Guojun coal team, the current coal sector is at the expected bottom, and the valuation is obviously low. With the improvement of the benchmark of power coal long-term association and the price of coking coal long-term association is expected to remain high, resource high-quality enterprises have long-term value.
Galaxy Securities believes that the market fell more than expected in January, leaving room and opportunities for the market in February. Optimistic about the overall market in February, optimistic about the industries and individual stocks with large early correction range and high outlook. The structural market will focus on specialization and innovation, double carbon, meta universe and consumption. Haitong Securities Company Limited(600837) said that it is expected that the A-share market will still be dominated by the structural market, but with the full force of the “steady growth” policy, there will be investment opportunities in the follow-up industries benefiting from the “steady growth” policy. Pay attention to the real estate chain consumer building materials companies, and the market share will still focus on the leading companies in the future, with strong anti risk ability and expanding business boundaries Opportunities for industrial metals, petroleum and petrochemicals brought by the rise in the price of cement and bulk commodities whose market share is still increasing. Operationally Guotai Junan Securities Co.Ltd(601211) , it is suggested that the direction with high certainty of bargain hunting layout is: first, the value blue chips such as banks and insurance with high dividends; second, pay attention to the direction of infrastructure, building materials and other related economic underpinning.
wait patiently for medium-term reversal
In the short term, although the market gradually rebounded after the bottom, the problem of insufficient trading volume remains, and the trading volume changes still need to be observed in the future.
Qin Hong, an analyst at jinbailin consulting, believes that at present, the probability of short-term rebound in the market is higher. The main reasons are:
I. The current overall market atmosphere is conducive to the rebound of track stocks corresponding to the main line of high growth. In the past one or two months, although a lot of public opinion information such as wide currency, wide credit and stable growth has been heard, there has not been much mention about the real estate industry. In fact, this shows that the core problem of China’s economy is the upgrading of industrial structure and the pursuit of high-quality growth, which is a difficult task for real estate and even traditional infrastructure. Therefore, sensitive stock funds have once again focused on track stocks. After all, most of the fields corresponding to track stocks are in line with the strategic objectives of high-quality growth and industrial upgrading.
II. There has been a lot of positive information in the relevant fields corresponding to track stocks in the near future. For example, in the CXO field, Porton Pharma Solutions Ltd(300363) large orders show that short-term stock price fluctuations are mainly caused by the emotions of market participants, rather than a substantive shift in industry logic. For another example, in the field of electric vehicles, the sales of new energy vehicles in January exceeded expectations, and the production scheduling research information of large manufacturers also showed that the trend of vehicle electrification is still accelerating, which means that the performance of such stocks is still expected to maintain rapid growth in 2022. Therefore, there is a contrast between the downward trend of stock price in the early stage and the upward trend of fundamentals in the near future, which provides a basis for continuous long growth.
Bian Fengwei, director of Shanghai Research Department, believes that driven by Contemporary Amperex Technology Co.Limited(300750) , the gem index rebounded, and some sectors with strong early gains fell. The overall feeling after the festival is to shrink. The main problem of the current market lies in the adjustment of the internal stock structure, which is a long process. In fact, the most important aspects in the process of investment are several aspects. One is the economic cycle at the macro level. In the economic cycle at the macro level, different industries fluctuate in the wave. The second is the enterprise at the micro level. How to survive and develop its potential in such a wave is investment. The market is not satisfactory. The most important thing is the concern about structural funds and uncertainty. When we get to this position, we should be patient and wait for more institutions to make greater allocation after the completion of position adjustment.
