brief description of disk
On Tuesday, A-Shares rebounded from shock, and the gem rose 3% to 2800 points. On the disk, wind power, batteries, medical services, photovoltaic, semiconductors, education, traditional Chinese medicine, energy metals, jewelry, wine making, medical devices and other industries led the increase; Tourism, hotels, airports, coal, mining, oil, commercial department stores, real estate, steel, shipping ports and other industries led the decline. In terms of theme stocks, cultivation of diamond, CRO, SMIC concept, IGBT concept, automobile chip, silicon carbide, etc. led the increase, while online tourism, oil price related, tax-free concept, REITs concept, Beijing Tianjin Hebei, oil and gas equipment and services led the decline.
message plane
foreign capital has increased its position in RMB assets for three consecutive years! These companies have been intensively investigated by QFII since February!
Data show that since February, as of February 14, 17 companies have received QFII intensive research. Among them, Luxshare Precision Industry Co.Ltd(002475) , Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , Beijing Supermap Software Co.Ltd(300036) and other three companies were investigated by 7 or more QFII during the period, Lens Technology Co.Ltd(300433) , Huadong Medicine Co.Ltd(000963) , chuangyao technology, Guangdong Chj Industry Co.Ltd(002345) , Yusys Technologies Co.Ltd(300674) and other five companies were also investigated by 2 or more QFII during the period.
blue chip or growth? Institutional debate A-share style trend
Since 2022, the differentiation of A-share market has reappeared. Growth stocks represented by the new energy industry chain performed prominently in 2021, but there has been a significant adjustment this year; Hot sectors such as medicine, food and beverage also saw a sharp correction. At the same time, the large financial sector, real estate, household appliances and other industrial chains and infrastructure sector rose significantly. For the “rising again” value blue chips and growth stocks facing a large correction, institutions generally believe that the “steady growth” style may continue under the strengthening of policies, but after substantial adjustment, the subsequent market style is still possible to switch to growth.
China Securities News quoted industry insiders as saying that China is expected to have the possibility of reducing reserve requirements and interest rates in the future
Industry insiders believe that with the cash flowing back to the banking system after the Spring Festival holiday, the central bank’s capital investment will be recovered in time to avoid capital accumulation, which is in line with the operating practices of previous years, and there is still the possibility of reducing reserve requirements and interest rates in the follow-up. The financial market is expected to benefit from the stable and abundant capital.
Jufeng view
Medium term strategy:
Jufeng investment adviser believes that the liquidity at the macro level has been gradually improved, and the central bank has continuously cut reserve requirements and interest rates to release liquidity, indicating that the policy bottom has appeared; The medium-term market is expected to rise, but the construction of the market bottom is more complex and there is a time lag between the market bottom and the policy bottom. We should be more patient.
pre market judgment: the European stock market generally fell by 2% overnight, and the three major indexes of US stocks continued to fall, but the decline narrowed significantly, the anti epidemic and oil and gas sectors fell sharply, and the gold concept rebounded. It is expected that the related sectors of A shares will be linked, and the oil and gas sectors with continuous strength of A-Shares may make up for the decline in the near future, At the same time, covid-19 drug sector, which rose sharply yesterday, paid attention to grasping the opportunity of high selling.
In fact, the three major A-share indexes rose or fell at the opening. The Shanghai index opened almost flat, and the gem opened 0.45% higher because Contemporary Amperex Technology Co.Limited(300750) opened 2% higher. Yesterday, the strong performance of tourist hotels made up a sharp decline, and coal and oil were adjusted. After the opening, the growth enterprise market index continued to rise driven by sectors such as lithium batteries, semiconductors, consumer electronics and cro, with an increase of more than 2% and a recovery of 2800 points. The Shanghai Composite Index rose driven by the brewing and pharmaceutical sectors, and the expected style transformation is under way.
In the afternoon, the growth of medicine and wine making narrowed, and the decline of steel, oil and coal deepened; The leading sectors turned into new energy sectors such as wind power, photovoltaic and lithium batteries, as well as semiconductor and education sectors.
Looking at the trend of the whole day, there is no doubt that the best performance of the market is all kinds of track stocks. It should be reminded that these track stocks are just the heavy positions of the fund. The funds that have experienced a sharp fall after the Spring Festival are currently facing redemption pressure, and the rebound at this time will not be too sustainable; The fund’s position reduction in response to redemption is not excluded. In addition, although the market rebounded today, the capacity is obviously insufficient, and the market is expected to repeat.
Investment suggestions:
Before the Spring Festival, A-Shares were corrected continuously, and the overvalued track stocks and growth stocks were significantly adjusted. The undervalued blue chips reflected a certain defensive nature. The make-up decline of blue chips in the last week before the festival was a signal of accelerating bottom building. After the Spring Festival, the market liquidity will improve, the spring offensive will be officially launched, and the initial stage will still be a structural market. After the market experienced the decline of growth stocks and the rebound of value stocks after new year’s day, there was a style switch in the short term. At this stage, it is recommended to allocate secondary new shares with high growth and oversold in the annual report.
