Today (February 16), the Shanghai and Shenzhen stock markets opened higher across the board. At the beginning of the session, the pattern of Shanghai’s strength and Shenzhen’s weakness was obvious. The large infrastructure sector made a comeback, which prompted the overall performance of the Shanghai index to be good, while the Shenzhen Component Index and the gem index weakened for a time, and they stabilized and rose near midday; In the afternoon, the Shenzhen market fell again, and the rise narrowed further, while the Shanghai index maintained a high shock pattern, and the market differentiation between the two cities was prominent.
As of the close of Shanghai and Shenzhen stock markets all day, the Shanghai index rose 0.57% to 3465.83 points; The Shenzhen Component Index rose 0.23% to 13376.36 points; The gem index rose 0.07% to 2818.40.
From the disk point of view, the light index and heavy individual stock market reappeared, the industry and concept sectors rose more and fell less, and the local profit-making effect was obvious. In terms of industries, engineering construction, steel, decoration, cement and building materials, energy metals, automobiles and other industries led the increase; In terms of subject stocks, industrial machine tools, assembly buildings, covid-19 drugs, rare earth permanent magnets, data security, underground pipe networks and so on rose higher.
In terms of funds, the central bank announced on February 16 that in order to maintain the reasonable and abundant liquidity of the banking system, the people’s Bank of China launched a 10 billion yuan reverse repurchase operation by means of interest rate bidding on February 16, 2022, with a bid winning interest rate of 2.10%. In view of the maturity of 20 billion yuan of reverse repurchase today, the people’s Bank of China has realized a net return of 10 billion yuan.
hot sector
Top 10 of industry sector increase
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Top 10 of concept sector increase
Top 10 of concept sector decrease
individual stock monitoring
Top 10 net inflow of main force
Top 10 net outflow of main force
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1. According to the National Bureau of statistics, in January 2022, the national consumer price rose by 0.9% year-on-year. Among them, the urban rose by 1.1% and the rural rose by 0.4%; Food prices fell by 3.8% and non food prices rose by 2.0%; Consumer goods prices rose 0.4% and service prices rose 1.7%. In January 2022, the ex factory prices of industrial producers in China increased by 9.1% year-on-year and decreased by 0.2% month on month; The purchase price of industrial producers increased by 12.1% year-on-year and decreased by 0.4% month on month.
2. According to the interface news report, eight departments including the Ministry of agriculture and rural areas jointly issued the national pesticide industry development plan for the 14th five year plan. It is proposed that by 2025, the pesticide industry system will be more perfect, the industrial structure will be more reasonable, the supporting role for agricultural production will be continuously strengthened, and the level of green development and high-quality development will be continuously improved. Promote the merger and reorganization, transformation and upgrading of pesticide production enterprises, become bigger and stronger, and cultivate a number of competitive large and medium-sized production enterprises. By 2025, efforts will be made to cultivate 10 enterprises with an output value of more than 5 billion yuan, 50 enterprises with an output value of more than 1 billion yuan and 100 enterprises with an output value of more than 500 million yuan, and the output value of pesticide production enterprises in the park will be increased by 10 percentage points.
3. According to the website of securities times, on the afternoon of February 16, Lu Weidong, director of Shanghai Municipal Bureau of justice, introduced the relevant information of the legislative work plan of Shanghai Municipal People’s Government in 2022. The reporter learned that in 2022, Shanghai will focus on the construction of international financial center and scientific and technological innovation center. It plans to revise the regulations on promoting the construction of international financial center and formulate the regulations on the development of artificial intelligence industry.
4. According to Xinhua Finance and economics, the Civil Aviation Administration officially released the special plan for the development of aviation logistics in the 14th five year plan at a press conference held on February 16, which is the first time that civil aviation of China has prepared a special plan for the development of aviation logistics. The plan specifies that by 2025, CAAC will initially build a safe, intelligent, efficient and green aviation logistics system, significantly enhance the aviation logistics support capacity, reduce costs and increase efficiency, significantly improve the independent and controllable ability of the system, and continuously improve the service capacity of aviation logistics for high-end manufacturing, postal express, cross-border e-commerce and other industries.
institutional perspective
For the current market, Founder Securities Co.Ltd(601901) mentioned that the oversold is the biggest driving force of the rebound. This round of rebound is expected to continue. Structurally, we are more optimistic about the performance of small cap stocks of scientific and technological growth under the logic of zhugra cycle of emerging industry.
What do you buy? The agency further combed the performance of the A-share market in the period of 12 sharp declines and rebounds since 2008. The main characteristics are as follows: (1) the rebound mostly occurred at the end of the year and the beginning of the year, especially since 2016. The rebound market basically started in the first quarter. (2) The performance of small cap stocks in the rebound stage is significantly better than that of large cap companies. (3) There is no obvious law between rebound amplitude and roe. (4) Moderately undervalued stocks rebounded slightly ahead. (5) The reversal effect is significant. The portfolio with a large decline in the early stage has a large increase in the rebound. The more the portfolio falls in a short time, the greater the resilience of the portfolio.
Cinda Securities pointed out that from the perspective of short-term performance, on the one hand, under the background of value style deduction, the higher than expected social finance data in January verified the continuous promotion of steady growth, and the undervalued sectors related to steady growth may have sustained excess returns in the first half of the year. On the other hand, in the last quarter, growth sectors such as new energy and electronics fell sharply, and there is room for technical rebound. Referring to the adjustment of consumer stocks from March to August 2021 and the adjustment of cyclical stocks from September to November 2021, there has been a significant rise after the panic, which is a repair to the long-term logic. In the process of tactical rebound in February, the growth of oversold in the early stage and the cyclical sector with good short-term performance may strengthen at the monthly level.
Huaan Securities Co.Ltd(600909) believes that the main line of “steady growth”, the policy is constantly strengthened and confirmed, and it still has a high cost performance before the steady growth effect is confirmed. Including transportation infrastructure related buildings, building materials, steel, etc., optimizing power grid consumption capacity, related green power, power grid construction, transmission and distribution, UHV, etc., as well as gas and drainage pipe network construction related to urban renewal and transformation.
The financial sector includes the real estate sector where the regulation and control policies are slowing down day by day, the boom has reversed after the downturn hit the bottom, and the banks whose asset quality has improved with the improvement of the economic situation and the gradual liquidation of real estate risks.
In the consumption sector, the service consumption recovery logic has been continuously strengthened, and the travel chain and the required consumer goods with room for price increase have been selected. The service consumption is continuously recovering. With the addition of Pfizer covid-19 drug import approval, the recovery expectation has been strengthened, and the travel related industries such as Airport, aviation, railway, catering, tourism and duty-free have ushered in allocation opportunities, At the same time, dairy products, condiments, meat products and other required consumer goods that benefit from the transmission of PPI to CPI prices also have medium and long-term configuration value.
