Looking back on Tuesday's A-share market, the Shanghai and Shenzhen stock markets opened low. After the opening, the Shanghai index quickly turned red, while the Shenzhen Composite Index operated in the green position. With the support of securities companies, the Shanghai index continued to perform. Due to the differentiation of subject stocks, the Shenzhen Composite Index and gem index always performed poorly; At the end of the day, the stock index fell slightly again, but maintained a narrow range shock pattern as a whole.
As mentioned in Soochow Securities Co.Ltd(601555) , at present, the market has started to adjust spontaneously after the strong market broke away from the downward channel, the capital flow in the floor is more positive , the overall plate rotation is relatively healthy, and there is no rapid rotation trend of rapid rise and fall for the time being. In terms of operation, investors can gradually increase their positions when there is a benign adjustment in the market, select popular sectors for short-term trading, and grasp the long market of the market.
From a technical point of view, Dongguan Securities believes that the Shanghai index closed slightly red on Tuesday, with a preference for market profit-making effect. The trading of the two cities remained active, and the northward capital continued to flow in. It is expected that the market will continue to fluctuate and rise, paying attention to the change of volume and energy and the rotation of plates. In terms of operation, it is recommended to pay attention to finance, food and beverage, chemical industry, electrical equipment, TMT and other industries.
In terms of the future market, China Galaxy Securities Co.Ltd(601881) Securities pointed out that investor sentiment is still high, the cross-year market is still expected to start in advance, and the structural market will rise alternately around scientific innovation and consumption . After the adjustment of science and technology since July and the continuous improvement of policies and systems and the support of multi-level capital market for science and innovation, the main line of the market is expected to return to the science and technology and high-end manufacturing field with high vision and high growth.
Everbright Securities Company Limited(601788) mentioned that the current market differentiation is obvious, there are some signs of top consolidation in track stocks, and the underestimated plate is still strong in the medium term . At the operational level, the suggestions are mainly to avoid the possible sudden adjustment of individual stocks in lithium battery, semiconductor, military industry and chemical industry, and then look for long opportunities. The undervalued sector focuses on industries with obvious reversal of scenery, such as food, securities companies, innovative drugs and e-cigarettes, and obvious signs of disk long.
Macroscopically, Citic Securities Company Limited(600030) pointed out that with the increasing downward pressure on economic growth in the second half of the year, the market's concerns about next year's economy are also gradually increasing. Under the backing of the "counter cyclical" policy, the economic expectation for 2022 should not be too "Pro cyclical". We believe that the economic growth target for next year may be set at "about 5.5%. In the troika, it is expected that investment will become the main starting point for broadening credit, stabilizing leverage and steady growth next year. For the bond market, it is expected that in the process of continuous confirmation from the financial bottom to the economic bottom, the space for downward interest rate is relatively limited, and the risk of correction has increased.
In terms of operation strategy, Northeast Securities Co.Ltd(000686) said that during the performance vacuum period of , the market is more inclined to the track with high boom logic or clear policy expectations. It is expected that the growth main lines of new energy, semiconductor and military industry will still lead the cross-year market . In addition, based on the current and future profit growth, A-Shares can be divided into four directions. The industries with high prosperity next year include electronics and Dianxin, and the marginal improvement of prosperity includes automobiles, communications, food and beverage, household appliances, etc. the downturn is mainly real estate and banks, and the weak prosperity is non-bank.
Everbright Securities Company Limited(601788) pointed out that at present, A-Shares are still in the stage of "showing the pressure of stable economic growth + counter cyclical and cross cyclical policies + enterprise performance vacuum". With the goal of steady growth and employment, macro liquidity is expected to remain relatively abundant in the fourth quarter, helping the "cross year market" of A-Shares to unfold as scheduled . Therefore, although the market is under pressure in the short term, the upward trend of A-Shares is not expected to change in the medium and long term.
The agency further analyzes and looks forward to the next year's market, and can lay out (1) high boom scarcity ideas : new energy, military industry, etc. among them, if the upstream valuation of lithium battery is too high, it can focus on the direction of downstream auto parts and photovoltaic, and the impact of upstream silicon price on modules. (2) ideas on liquidity varieties in the downward profit environment : topics such as metauniverse, VraR and automatic driving; (3) policy expected restoration ideas : real estate and post real estate cycle, biomedicine, etc.
Anxin securities mentioned that currently focuses on grasping the valuation repair opportunities of undervalued sectors , including undervalued small cap stocks, financial real estate - non bank / bank / real estate / building materials / household appliances (policy margin relaxed, midstream cost pressure decreased), communication / consumer electronics (business transformation), food and beverage (price increase expectation) and other valuation repair opportunities. Continue to hold the high prosperity and long track represented by "Ning combination", including photovoltaic, new energy vehicles (auto parts, lithium resources, lithium batteries), semiconductors (high-end chips / equipment), military industry, etc.
