Double financing balance
As of February 24, the two financial balances of Shanghai Stock Exchange reported 920.761 billion yuan, a decrease of 1.156 billion yuan compared with the previous trading day; The two financial balances of Shenzhen Stock Exchange reported 806.36 billion yuan, a decrease of 5.644 billion yuan compared with the previous trading day; The two cities totaled 172.7121 billion yuan, a decrease of 6.8 billion yuan over the previous trading day.
Latest views
On Thursday, impacted by the general decline in peripheral markets, A-Shares plunged in the afternoon, with the Shanghai index falling more than 2% and the gem index falling more than 3%. As of the closing, the Shanghai Composite Index fell 1.70%, the Shenzhen composite index fell 2.20%, the gem index fell 2.11%, the Shanghai and Shenzhen 300 fell 2.03%, the Shanghai Composite 50 fell 1.87%, and the China composite 500 fell 1.78%. The number of gainers in the two cities was 653, lower than the average value of 2537 last week and 3598 in the previous trading day. The limit was 44, lower than the average value of 74 last week and 100 the previous trading day. The number of decliners in the two cities was 4021, higher than the average of 1952 last week and 973 in the previous trading day. The number of drop limits was 44, higher than the average value of 13 last week and higher than 4 in the previous trading day. The net outflow of northbound funds was 3.358 billion yuan, with an average net outflow of 480 million yuan last week and a net inflow of 1.421 billion yuan the previous trading day. The turnover of the two cities was 1363.861 billion yuan, with an average value of 843.588 billion yuan last week and 1041.887 billion yuan the previous trading day. The conflict between Russia and Ukraine escalated, the global market fell sharply, and A-Shares also adjusted significantly in the same period. The Shanghai index returned to the 3400 point area again. At present, after the release of risk concentration, A-Shares do not have the basis for continuous adjustment. The RMB exchange rate rose on Thursday night. At present, China’s economic fundamentals are the most stable in the world, and A-Shares may become a safe haven for European funds, After digesting the panic in the short term, it should stabilize gradually.
Topic tracking
Today’s focus: precious metals, cultivation diamonds, photovoltaic equipment
1. Precious metal theme: according to cnr.com, on the 24th local time, Russia launched a special military operation against Ukraine, Ukraine entered a state of comprehensive defense, and the president of Ukraine announced that Ukraine had severed diplomatic relations with Russia. The situation in Russia and Ukraine continued to heat up, causing market panic, and the price of precious metals as safe haven assets rose. Moreover, the situation in Russia and Ukraine exacerbated the inflation problem in Europe and the United States, increased the probability of stagflation, and strongly supported the price of precious metals. In the long run, the follow-up development of the situation in Russia and Ukraine, the US inflation data, the expectation and progress of the Fed’s monetary policy adjustment, the policy trend of the European Central Bank, the US dollar index and the trend of US bond yields may shock the price of gold. Suggested attention: Western Region Gold Co.Ltd(601069) (601069), Hunan Gold Corporation Limited(002155) (002155)
2. Diamond cultivation theme: Diamond cultivation, i.e. artificial diamond, is a diamond synthesized under the artificial growth environment of natural diamond. It is mainly synthesized by HTHP method (high temperature and high pressure) and CVD method (chemical vapor precipitation method). It belongs to superhard materials. China is a large market country of superhard materials in the world, and the share of superhard materials reaches more than 95%. At present, in the context of new consumption trends and production technology updates, consumers’ acceptance of diamond cultivation will continue to improve, with broad downstream demand, high industry prosperity and huge growth space in the future. Suggested attention: Mclon Jewellery Co.Ltd(300945) (300945), Sf Diamond Co.Ltd(300179) (300179) 3. Theme of photovoltaic equipment: on February 18, the national development and Reform Commission issued several policies to promote the steady growth of industrial economy. The notice proposes to organize and implement the special action for the innovative development of photovoltaic industry, implement the construction of large-scale wind power photovoltaic bases in desert Gobi desert areas, encourage the development of distributed photovoltaic in the Middle East, and drive the investment in Cecep Solar Energy Co.Ltd(000591) battery and wind power equipment industry chain. The central government’s policy guidance firmly promotes the dual carbon goal and is conducive to the overall development of new energy. Recently, Henan, Shandong, Inner Mongolia Eerduosi Resources Co.Ltd(600295) and other places have introduced support policies for clean energy such as photovoltaic and wind power. It is expected that with the intensive introduction of relevant policies, the industrial chain will accelerate the expansion of production capacity and demand. In 2022, wind, light, storage, hydrogen and other industries will further accelerate their development on the basis of last year. Suggestions: Sunshine Energy (300274), Jiangsu Zhongli Group Co.Ltd(002309) (002309)
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.
