Index
On February 24, 2022, the Shanghai Composite Index closed at 3429.96 points, down 1.70%; Shenzhen composite index closed at 13252.2 points, down 2.20%; The coal industry index closed at 2673.31 points, down 1.32%. The top three companies were Yankuang energy, China Shenhua Energy Company Limited(601088) and Northern Shaanxi mining. The non-ferrous metals index closed at 5833.08 points, down 0.92%. The top three companies are: Western Region Gold Co.Ltd(601069) , Hunan Gold Corporation Limited(002155) , Chenzhou City Jingui Silver Industry Co.Ltd(002716) .
Comments
The precious metals sector rose higher, with gold prices above $1910 / ounce. Recently, we have repeatedly mentioned the investment opportunities in the precious metal sector, which is gradually confirmed by the market. The main reason is still the risk aversion brought by the geopolitical war between Russia and Ukraine. Since the beginning of the year, due to the high inflation in the United States and the repricing of monetary policy, the double killing of U.S. stocks and bonds has been promoted, and the safe haven attribute of gold has regained its favor of funds, and the investment targets, including gold related stocks, gold ETFs and gold futures, have received capital inflows. In the short term, the Russian Ukrainian problem is difficult to ease quickly, and the risk aversion has brought some support to gold. The subsequent gold price is expected to continue to strengthen under the expectation of interest rate hike by the Federal Reserve and war factors. Related subjects: Yintai Gold Co.Ltd(000975) , Shandong Gold Mining Co.Ltd(600547) , Western Region Gold Co.Ltd(601069) .
Crude oil prices continued to rise today, with related concept stocks rising higher. The current geopolitical events affect the short-term rhythm of crude oil. If Iran fails to reach an agreement in the peace talks, it will further increase the upward risk of crude oil. For Russia and Ukraine, under the condition that Russia recognizes the independence of Donbas region, the risk of conflict between Russia and Ukraine escalates in the short term, and Russia is highly likely to face EU sanctions in the follow-up. If Russia’s oil and gas exports or production are affected by European and American sanctions, the short-term upward risk of crude oil prices will continue to increase. It is recommended to pay attention to relevant investment opportunities. Related subjects: China Oilfield Services Limited(601808) , Zhongman Petroleum And Natural Gas Group Corp.Ltd(603619) , Petrochina Company Limited(601857) .
Industry dynamics
On February 24, the national development and Reform Commission held a press conference to introduce the relevant situation of further improving the coal market price formation mechanism. On the basis that the coal price is formed by the market, the national development and Reform Commission clarified the reasonable range of price, strengthened the range regulation, guided the coal price to operate within the reasonable range, and realized the better combination of effective market and promising government. (National Development and Reform Commission)
Company dynamics
Hunan Valin Steel Co.Ltd(000932) (000932): on February 21, the original Hunan Hunan Valin Steel Co.Ltd(000932) Group Co., Ltd. changed its industrial and commercial name to Hunan Iron and Steel Group Co., Ltd. Enterprise investigation information shows that the company was established in 1997 and is jointly held by Valin Holding Group Co., Ltd. Hunan Development Group Co.Ltd(000722) Asset Management Group Co., Ltd.
Risk tip: macroeconomic is less than expected and geopolitical risks are escalating.
