Double financing balance
As of February 23, the balance of the two financial institutions on the Shanghai Stock Exchange reported 921.917 billion yuan, an increase of 4.309 billion yuan over the previous trading day; The two financial balances of Shenzhen Stock Exchange reported 812.005 billion yuan, an increase of 4.325 billion yuan over the previous trading day; The two cities totaled 173.3922 billion yuan, an increase of 8.633 billion yuan over the previous trading day.
Latest views
On Wednesday, A-Shares rose unilaterally, track stocks rebounded comprehensively, the Shanghai index approached 3500 points, the gem index recovered 2800 points, and Kechuang 50 once rose more than 4%. As of the close, the Shanghai stock index rose 0.93%, the Shenzhen Component Index rose 1.90%, the gem index rose 2.82%, the Shanghai and Shenzhen 300 rose 1.07%, the Shanghai Stock Exchange 50 rose 0.51%, and the China Stock Exchange 500 rose 1.51%. The number of gainers in the two cities was 3534, higher than the average of 2537 last week and 878 in the previous trading day. The limit was 100, higher than the average value of 74 last week and 58 the previous trading day. The number of decliners in the two cities was 958, lower than the average of 1952 last week and 3695 in the previous trading day. The number of drop limits was 4, lower than the average value of 13 last week and 14 the previous trading day. Northbound funds had a net inflow of 1.421 billion yuan, with an average net outflow of 480 million yuan last week and a net outflow of 7.34 billion yuan on the previous trading day. The turnover of the two cities was 1041.887 billion yuan, with an average value of 843.588 billion yuan last week and 979.111 billion yuan the previous trading day. The rebound of A-Shares and the return of trillion transaction amount is a relatively clear signal, and the participation of investors has become higher. For the current market, we believe that the current market price has responded to the Fed’s interest rate increase expectation in March or the Russian Ukrainian geopolitical crisis, but the market has ignored the steady growth expectation and the continuous implementation of the policy of wide credit and wide finance. We think the follow-up market will have positive feedback. However, in terms of the market alone, we should focus on whether the Shanghai index can break through the 3500 point mark, otherwise it will return to the box again.
Topic tracking
Focus today: semiconductor, lidar, silicone
1. Semiconductor sector: according to the report of global semiconductor watch, Infineon recently issued a notice to dealers. Due to the shortage of market supply and the increase of upstream costs, Infineon may brewing a new round of price increase, but the specific price increase range and category have not been disclosed yet. Recently, the national development and Reform Commission and other departments announced that they agreed to start the construction of the national hub node of the national integrated computing network in Beijing, Tianjin and Hebei, the Yangtze River Delta, the Great Bay area of Guangdong, Hong Kong, Macao and Chengdu Chongqing. This also marks that the “Eastern digital computing and Western computing” project will enter the stage of large-scale planning and construction. The “Eastern digital computing and Western computing” will promote the upgrading of data processing and computing power and promote the development of chip industry chain. Key concerns: Konfoong Materials International Co.Ltd(300666) (300666), Maxscend Microelectronics Company Limited(300782) (300782) 2. Lidar theme: Recently, the German and European markets have “relaxed the policy” on L3 automatic driving, defined the division of responsibilities between people and vehicles in regulations, and granted Mercedes Benz the first license for L3 automatic driving on the Road, which is expected to accelerate the evolution of global automatic driving to high-level automatic driving. Lidar is indispensable in the high level automatic driving system. Lidar has the advantages of far ranging and angular resolution, and little influence on ambient light. And it does not need deep learning algorithm, which can significantly improve the reliability of automatic driving system. With the increase of automatic driving level, the carrying capacity of lidar single vehicle also increases gradually. It is suggested to pay attention to: Ningbo Yong Xin Optics Co.Ltd(603297) (603297) and Juguang Technology (688167) show that as of February 23, 2022, the reference average price of organosilicon DMC market quotation in mainstream areas of data monitoring is 34716 yuan / ton. Compared with the price on February 1, 2022, the average price is increased by 3056 yuan / ton, or 9.65%. The overall market demand and supply of silicone are still tight, driven by the market expectation. Focus on: Hoshine Silicon Industry Co.Ltd(603260) (603260), Henan Hengxing Science & Technology Co.Ltd(002132) (002132).
Risk tips
The epidemic has not been effectively controlled, the macro economy has unexpectedly declined, the liquidity crunch has intensified, and the industrial policies are lower than expected.
