Index tracking
[Shanghai and Shenzhen composite index] Shanghai Composite Index rose 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.
[industry tracking] industry: 14 industries rose and 16 industries fell. Among them, power equipment, medicine, biology and electronics sectors led the increase, with increases of 3.94%, 3.40% and 3.00% respectively; Coal, banking, petroleum and petrochemical sectors led the decline, with declines of – 1.70%, – 1.28%, – 1.19%.
Comments
The power equipment sector led the increase. In our strategy report on February 10, we pointed out that from the perspective of valuation, the valuation of new energy, semiconductor and other directions has entered a relatively reasonable valuation range in the medium and long term. In terms of the market, according to the data of the passenger Federation, the sales volume of new energy vehicles reached 412000 in January, with a year-on-year increase of 141.4%. At present, the high growth trend of new energy vehicles remains unchanged. After the valuation falls, some enterprises have certain allocation opportunities. In terms of individual stocks, Hunan Zhongke Electric Co.Ltd(300035) , Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) , Shenzhen Dynanonic Co.Ltd(300769) and other individual stocks rose by 11.89%, 11.38% and 11.37% respectively.
The pharmaceutical sector led the gains. At the news level, on February 11, the State Food and Drug Administration conducted emergency review and approval in accordance with the relevant provisions of the drug administration law and the special drug approval procedures, and conditionally approved the import registration of the combined packaging of nevitavir tablets / ritonavir tablets (i.e. paxlovid) of Pfizer covid-19 virus treatment drug. Under the background of repeated global epidemics, As paxlovid is approved in more countries, pharmaceutical enterprises deeply involved in paxlovid supply chain will benefit. In terms of individual stocks, Chengda pharmaceutical, Wuxi Apptec Co.Ltd(603259) , Asymchem Laboratories (Tianjin) Co.Ltd(002821) and other stocks rose by the limit.
The electronics sector strengthened. On the one hand, since November last year, affected by the Fed’s expectation of raising interest rates and the rise in the ten-year yield of US bonds, the sector has continued to fall, and the current sector valuation has fallen to a reasonable range; On the other hand, at the news level, liandian’s official website issued a statement saying that its 8-inch wafer factory and ship chip manufacturing company in Suzhou were suspended gradually in order to cooperate with the competent authority’s full inspection because an employee was suspected to be infected with covid-19. In addition, the current supply and demand of the industry is still tight, and the prosperity of the industry still exists. In terms of individual stocks, Ningbo Sunrise Elc Technology Co.Ltd(002937) , Ruima precision, Wuxi Taiji Industry Limited Corporation(600667) and other stocks rose by the limit.
Outlook
Today, the gem index strengthened, up more than 3%. In terms of northward capital, the net outflow was 3.544 billion yuan, which was related to the sharp decline in the prices of some commodity futures in the afternoon. On the whole, the market has responded relatively fully to the expectation of overseas interest rate hikes. The probability of US bonds continuing to rise sharply in the 10-year period is relatively low. Under the tone of China’s “steady growth”, the overseas risk disturbance is expected to slow down in the future. In the medium and long term, the valuations of new energy and semiconductors have entered a relatively reasonable valuation range, but they are still subject to the expectation of interest rate hikes, fund redemption Some enterprises’ performance is lower than expected and other risk disturbances.
Risk warning: the profit of the enterprise is less than expected; Increased volatility in overseas markets; Systemic risk
