Looking back on Thursday’s A-share market, the Shanghai and Shenzhen stock markets opened higher, and fluctuated higher after the opening. Especially under the leadership of the securities sector, the Shanghai index continued to rise, while the Shenzhen Composite Index and the gem index also performed commendably. On the whole, the three major A-share indexes showed a strong rebound pattern, boosted by the sharp net purchase of northbound funds throughout the day.
As Guosheng Securities said, the high inflow of foreign capital on Thursday prompted a small upsurge in Baijiu and financial sector. The market has gradually changed from the plate rotation of multi theme speculation to the style rotation of growth stocks and blue chip weights, and has begun to take shape. The continuous large inflow of funds going north and the large-scale positive line of Thursday’s index give the market confidence, whether the index rises again or retreats, there is no need to worry too much about in the short term. actively pay attention to the rotation opportunities of consuming blue chips after style conversion and the repair opportunities of growth tracks such as new energy, photovoltaic and semiconductor adjusted in the early stage .
From a technical point of view, Dongguan Securities believes that the index has achieved two consecutive positive, and the volume of the two cities can be significantly expanded. The market continues to switch between high and low, and the trend of blue chip plates such as big finance and big consumption is strong. The strong net inflow of funds from the North exceeds 20 billion yuan, driving the enthusiasm of market trading. It is expected that the market is expected to continue to fluctuate upward, pay attention to the flow of foreign capital and plate rotation . In terms of operation, it is recommended to pay attention to finance, food and beverage, household appliances, electrical equipment, TMT and other industries.
As for the future, Orient Securities Company Limited(600958) said that at this stage, the market fundamentals support is strong. With the implementation of RRR reduction, the expectation of policy easing is strengthened again, which has boosted the confidence to do long. The cross year market is worth looking forward to. However, after the continuous rise of the short-term index, the subsequent high shock cannot be ruled out. Investors should pay attention to the fluctuations of plates and individual stocks caused by the withdrawal of the index stage . Operationally, for individual stocks held, if the short-term increase is large, they can be appropriately sold or reduced, while for investors with low positions, waiting for the index to withdraw will be a good opportunity to participate .
Soochow Securities Co.Ltd(601555) pointed out that after the standard reduction of A-Shares was implemented, the market first restrained and then increased, and rose sharply for two consecutive days. At the same time, the significant amplification of trading volume led to the simultaneous rise of volume and price in the market, and the short-term market is still expected to rise further. from the perspective of capital flow, the current round of market is mainly driven by north capital , and the attraction of RMB assets is enhanced, This accelerated the inflow of foreign capital into a shares. In terms of operation, balanced allocation is recommended. We should not only pay attention to the allocation opportunities of low weight blue chips and large consumption, but also pay attention to the low absorption opportunities in the growth direction of digital economy, 5g application and new energy, and cautiously pursue the rise.
In the macro aspect, Citic Securities Company Limited(600030) believes that the social financing and credit in November were slightly lower than expected, mainly due to the year-on-year decrease of 247 billion yuan in medium and long-term loans of enterprises. At the end of November, the three-month bill rediscount rate fell again to a low of 1.3%, indicating that the demand for corporate loans is weak, and the deeper may be that the macro total demand is lower than the equilibrium level, which may drag down the growth rate of subsequent investment. Residents’ medium and long-term loans continued the warming trend of last month, with an increase of 77.2 billion yuan year-on-year, which has returned to the growth center in recent years. In November, the growth rate of social finance has begun to rebound. It is expected that with the support of monetary policy, the marginal recovery of real estate financing and the issuance of government bonds, the growth rate of social finance is expected to continue to rebound to around the third quarter of 2022.
In terms of operation strategy, Shenwan Hongyuan Group Co.Ltd(000166) said that suggested to focus on holding shares to be increased . Considering the rapid switching of market style in the near future, the decline of peripheral markets yesterday, the impact of news and other factors, try to avoid frequent position adjustment and chasing up. In terms of industry, the middle line can continue to focus on national defense and military industry, electronics and non bank financial (Securities) industries, and in the short term, it can look for investment opportunities in computer and automobile sectors.
Huaxin Securities pointed out that recently, there has been a continuous large net inflow of funds going north, undervalued blue chips have excellent performance, and there is a trend of plate diffusion . From the meeting of the Political Bureau of the CPC Central Committee, the boost to consumption next year has been put forward, and the performance of food and beverage has been eye-catching one after another. In addition, the first bank and the two sessions stressed that to meet the reasonable housing demand and promote the virtuous circle of the industry, we believe that the process of real estate from debt reduction to stable leverage has been demonstrated by banks and real estate, so it has also driven securities companies. At present, the start of low-level blue chip has a high degree of capital recognition. Although there may be shocks after a short-term continuous rise, the market is still promising.
Shanxi Securities Co.Ltd(002500) also mentioned that CPI continued to rebound, making the profit recovery expectation of middle and downstream industries stronger, increasing the upward potential energy of food and beverage, household appliances and other sectors. Specifically, the rebound of CPI in November may be mainly driven by the increase of food product prices and the seasonal rise of pig prices. Under the guidance of “expanding domestic demand” at the policy level, residents’ consumption is expected to accelerate the repair and drive the profits of the consumption sector to rise. At the same time, the upstream production capacity of this round of pig cycle has reached the top, and will gradually accelerate the de capitalization in the future. The pig price may hit the bottom again after the seasonal rise. In the first half of 2022, it may remain relatively low, dilute the upward pressure of CPI, make the CPI rise moderately, and give room for loose policy. Therefore, the financial sector still has better allocation opportunities, so it is recommended to continue to pay attention.
