brief description of disk
Affected by the external decline, A-Shares opened slightly lower on Monday, then rose and fell, heavyweights adjusted, and small cap stocks made up for the rise. On the disk, Internet services, communication services, computer equipment, software development, communication equipment, coal, non-metallic materials, education, engineering consulting services, games, cultural media, biological products and other industries led the increase; Airport, insurance, wind power, lithium battery, photovoltaic, chemical fertilizer, cement and other industries made a slight correction. In terms of subject stocks, East digital West computing, state-owned cloud concept, data center, cloud computing, network security, smart government, edge computing and other gains were among the top, while MLCC, phosphorus chemical industry, CRO, medical waste treatment, passive components and other small pullbacks.
message plane
policy “combination fist” is fast and quasi economic “heat map” is full of spring
The economic operation data for the first month of this year will be announced soon. A series of leading indicators and macro data show that the effect of the steady growth policy is gradually beginning to appear, and a stable start to the economy is within reach. Experts believe that the signals for the recovery of economic operation are emerging one after another, but the external environment is becoming more complex, severe and uncertain. In order to stabilize the macro-economic market, counter cyclical and cross cyclical adjustment should also be strengthened. There is room for overweight fiscal and monetary policies. At the same time, policy coordination and linkage should be strengthened to fully show the power of “combined fist”.
24 plans to “promote the listing of enterprises” 166 enterprises in seven provinces are ready to go
With the accelerated reform of the whole market registration system, since this year, many places have given more specific quantitative indicators in promoting the listing of high-quality enterprises. A total of 24 provinces (autonomous regions and municipalities directly under the central government) clearly proposed to promote the listing of enterprises. Among them, Zhejiang Province, Anhui Province, Jiangxi Province, Henan Province, Hubei Province, Hainan Province and Shaanxi Province also put forward this year’s quantitative indicators.
MSCI, FTSE Russell, Hang Seng and other index companies made quarterly adjustments to their indexes
On February 18, Hang Seng Index Co., Ltd. announced the results of the quarterly review of the index series. Lenovo Group and nongnongshanquan were newly included in the Hang Seng Index, while Hang Seng technology index joined several stocks such as Shangtang group, Xiaopeng automobile and ideal automobile. In addition, several indexes such as the Hang Seng Composite Index and the Hang Seng China enterprise index have also been adjusted.
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 and American stock markets collectively closed down on Friday, and the popular Chinese concept stocks fell deeply, which is expected to lead to the low opening of A-Shares on Monday. In late February, the market will enter the window period of the two sessions. Under the expectation of policy dividends, the market is generally good. Once the market rises in large quantities, it is necessary to increase positions in time.
In fact, the three major A-share indexes collectively opened low, and the speculation on the theme of infrastructure continued. The East data and West computing (covering data center, computing power concept, communication, Internet and other concepts) that broke out the daily limit on Friday continued to rise sharply. However, heavyweights were relatively depressed, led by the Shanghai and Shenzhen 300 and Shanghai 50 indexes, while the national securities 2000 index, which represents medium and small cap stocks, performed strongly. Among them, China Life Insurance Company Limited(601628) the subject of Shanghai Stock Exchange 50 led the decline, which may be related to FTSE Russell’s transfer out of the global index. From the morning trend, heavyweights have not stopped falling, but small cap stocks have a strong performance. The market rose more or fell less, which is generally safe. In the afternoon, if heavyweights hit another intraday low, they may pull small cap stocks lower.
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 degree of defensive. After the Spring Festival, the market liquidity will be improved, and the spring offensive will be officially launched. In the initial stage, it will still be a structural market, with value and growth one after another. In the short term, it is recommended to allocate secondary new shares with high growth and oversold in the annual report. We can pay attention to bargain hunting for the theme of infrastructure, but there is no need to chase up.
