The three major A-share indexes collectively closed up today, with the Shanghai index rising 0.50% to close at 3446.09 points; The Shenzhen Component Index rose 1.69% to close at 13345.63 points; The gem index rose 3.09% to close at 2816.44. The market turnover reached 827.5 billion yuan, the industry sector rose and fell, the new energy, chip and medical sector strengthened, and the tourism hotel, airport and coal industry led the decline.
Today’s news:
1. What signal? Are the three major securities companies underestimating the share of ETF? Shareholder position increase
2. Crazy buying these shares! Buffett, qiaoshui, Soros, Hillhouse and other bigwigs are holding the latest shares!
3. The central bank carried out 300 billion yuan MLF operation and 10 billion yuan reverse repurchase operation
4. The demand for risk aversion is increasing, and the gold price is approaching the 30-year high. These companies go north to increase their capital positions (list attached)
5. Can’t Zeng Yuqun sit still? Online transmission of “ningwang” research minutes and personal response to 6 questions
6. Is confidence coming? The “self purchase tide” is not over yet. These funds announced the liberalization of large purchase restrictions! How do I get to the aftermarket?
7. China Securities News quoted industry insiders as saying that it is expected that China will have the possibility of reducing reserve requirements and interest rates in the future
8. In January, the retail sales of new energy passenger vehicle market increased by 132% year-on-year, and northward funds increased their holdings of these shares (list)
For the future market trend, institutions have expressed their views.
China Merchants Securities Co.Ltd(600999) said that the growth rate of new social finance in January became 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. External factors such as the Fed’s interest rate hike cycle are expected to gradually return to the upward impact of the A-share interest rate hike cycle. The judgment of “√” of A-share trend throughout the year, “undervalued +” and “depression strategy” are still the dominant allocation strategy at present. From February to March, we can focus on the opportunities of industrial metals, petroleum and petrochemical, cement and so on, which benefit from the force of steady growth and the continuous rise of bulk prices.
China Industrial Securities Co.Ltd(601377) said that “steady growth” is far from the right, and “mini version 2014” will continue to perform. Structurally, “dumbbell” configuration: on the one hand, the direction of China’s policy relaxation is determined, and “mini version 2014” is on the way, focusing on “big finance” benefiting from “stable growth” and marginal “wide credit”; On the other hand, the layout, excavation and adjustment are deep, the pressure of congestion is fully released, and the prosperity is still good. 1) “Big finance”: there is expected to be a wave of index market similar to “mini version 2014” this year, including large financial sectors such as banks, real estate and securities companies. As a top-down logical support and a “place with few people”, the repair of undervalued sectors will continue. 2) “Small high tech”: after the adjustment since the beginning of the year, the current transaction congestion has dropped to a historically low level, and the pressure from position concentration and transaction congestion has been significantly released. On the premise of confirming the direction of prosperity, it is expected to rebound gradually in the follow-up.
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. 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. In terms of allocation, attention should be paid to two main investment lines: first, the allocation of varieties of “stable growth” in policies, such as “banking, real estate, building materials and construction”; Second, “food and beverage, breeding, Shenzhen Agricultural Products Group Co.Ltd(000061) ” and so on. In terms of theme, focus on “new energy (vehicle), digital economy, seed industry”, etc.
Guosheng Securities believes that since 2022, the landing effect of financial advance and infrastructure development has appeared. In January, the investment in major projects in 20 provinces and cities increased by 68% year-on-year, and the real estate regulatory policy has been further loosened. The credit derived blockage is gradually getting through. After the wide credit in the sense of total amount is confirmed, the monetary and credit environment will continue to improve in the first quarter. With the digestion of growth stock valuation, the improvement of credit conditions and the transmission of macro liquidity to the capital market, the short-term market is expected to usher in a resonant rebound. From the medium-term perspective, one thing to be reminded is that under the background of the slowdown of public offering + private placement and the reversal of the incremental market environment, it is not appropriate to use the experience of the past 2-3 years to understand the future market. It is suggested to increase the mining of low positions and relatively undervalued sectors. The rise of medium-term value is still on the way.
Shanxi Securities Co.Ltd(002500) said that at present, the rotation and style switching of the A-share market sector are more obvious, the overvalued growth sector has entered the adjustment stage, and the theme of “steady growth” boost, undervalued repair and digital economy have become new capital hotspots. At present, there is still room for the undervalued sector with high prosperity, so it is suggested to focus on it. First of all, under the background of great uncertainty overseas and the great downward pressure on China’s economy as a whole, the allocation cost performance of some overvalued growth track stocks is still low, which is easy to “resonate” in the process of overseas asset price revaluation, generate large selling pressure in the short term, and then fluctuate greatly. Secondly, the “steady growth” this time puts more emphasis on structural adjustment, and the upward space of traditional cycle industries is relatively limited. Finally, on the whole, the undervalued sector is more likely to usher in rising opportunities in the market style adjustment. It is suggested to focus on the sectors with “expected repair” potential, the sectors with defensive nature through the cycle and the sectors that are expected to have trend opportunities under the boost of the high boom.
Zhongtai Securities Co.Ltd(600918) said that on the whole, under the environment that the global financial market gradually adapts to the hawkish shift of the Federal Reserve, the steady growth policies such as China’s RRR reduction continue to work, and social finance and other indicators are expected to stabilize, the market is expected to go further in spring. The comprehensive registration system and steady growth are good for undervalued blue chips, while the “hawks” of the Federal Reserve may put pressure on the growth sector, and the strength and non record low of undervalued blue chips such as SSE 50 during the adjustment in January. The spring market is still dominated by undervalued blue chips. In terms of specific configuration, undervalued blue chips still adhere to three main lines: 1) securities companies; 2) Central enterprises with high dividends related to national reform, especially the development direction of central finance such as railway and electric power; 3) Green electricity. At the same time, some drugs related to the epidemic, such as ventilator and vaccine, have also entered the allocation range.
