Looking back on Tuesday’s A-share market, the Shanghai and Shenzhen stock markets opened up mixed. They surged rapidly at the beginning of the market and then fell back. In the afternoon, the stock index plunged further, and the stock index stabilized at the end of the market. However, it is difficult to change the downward trend of the day, and the weak pattern can be seen at a glance.
As mentioned in Soochow Securities Co.Ltd(601555) , due to the downward adjustment of the market due to unexpected news, the stock index has not got rid of the shock, and the breakthrough direction has not been determined yet. It needs to be cautious, but it is not yet time to be completely pessimistic. At present, on the one hand, the market should continue to grasp the main line opportunities, but also pay attention to the possibility of high-low switching. For oversold undervalued varieties, as long as the performance growth rate can be maintained, the current position has good investment opportunities.
For the future, Central China Securities Co.Ltd(601375) points out that the core assets have fallen in turn recently, the focus of the stock indexes of the two cities has been moving downward, and the industries such as military industry, food and beverage, agriculture, animal husbandry, feeding and fishing can not effectively gather popularity. it is expected that the Shanghai index will compete repeatedly around the annual line in the future. It is suggested to pay close attention to the changes in policy and capital .
Wanhe Securities believes that there is adjustment risk in the short term and pays attention to the upstream and undervalued blue chips. At present, market uncertainties have increased, macroeconomic downward pressure has further increased, and the profit differentiation of industrial enterprises has an impact on the performance of the sector. Although the overall market is still a structural market, the market is facing a certain adjustment risk due to the impact of the overall slowdown in the profit growth of A-Shares in the third quarterly report. at this time, the market differences have increased, and the undervalued blue chips and raw materials affected by the resonance between price and demand are expected to maintain high market attention .
The agency further analyzed that there is still a certain risk aversion in the current market, so it can continue to pay attention to the food and beverage sector ; Affected by the continuous high price operation and demand, in the short term, the price of raw materials such as coal will continue to maintain high operation after stabilizing, and the performance of upstream industries such as mining is highly uncertain; Due to the impact of prosperity and performance, electrical equipment can maintain appropriate attention.
In addition, Haitong Securities Company Limited(600837) said that it is difficult for the index to perform well temporarily from the perspective of technical trend, political geography and other factors, but structural market will continue, focusing on new energy and consumer electronics . In the context of carbon neutralization, in order to achieve the goal of 2060 carbon neutralization, the new energy industry chain will be a sustainable high-profile industry in the future. Lithium, photovoltaic, energy storage, wind power and other sectors are active in the future or repeatedly, and can absorb low and throw high. The pessimistic expectations of the consumer electronics sector have been fully reflected, the negative suppression factors have begun to eliminate, and the industrial chain is expected to improve month on month in the fourth quarter, focusing on the companies transforming to automotive electronics.
According to China Galaxy Securities Co.Ltd(601881) securities, adopts a defensive strategy and waits for a new turn for the better in the market . In terms of industries, new energy related industries have seen great recent growth, high valuation and rising short-term risks; For some industries with large decline, there is no significant sign of improvement in fundamentals, so it is not suitable to take too heavy positions.
Therefore, in terms of operation strategy, the organization believes that balanced configuration is appropriate and recommends configuration: first, it is preferred to choose opportunities related to new energy, photovoltaic, energy storage and new power system construction related to energy structure adjustment under the general trend of “double carbon”, and is optimistic about the transformation of thermal power leading companies to new energy. Second, the performance of resources and energy materials industries such as phosphorus, silicon, fluorine chemical industry and coal is good. Third, semiconductor, military industry, individual consumer goods and other segments with high prosperity should be allocated in a balanced manner.
Wanlian Securities pointed out that the current market is still in a period of shock consolidation and still focuses on the structural market . In terms of industry configuration, it is suggested to pay attention to: 1) new energy industry chain with strong policy support, sufficient future orders and production scheduling, and opportunities for wind power, photovoltaic and energy storage; Military industry with sufficient orders in hand; 2) The pig cycle is expected to gradually hit the bottom and pick up. The agricultural, forestry, animal husbandry and fishery industry enabled by seed industry science and technology and the optional consumer sectors such as household appliances, textile and clothing, light industry and so on with large valuation and rising cost performance after the disclosure of the third quarterly report; 3) The undervalued value has partially reflected pessimistic expectations. Banks, insurance and other large financial sectors generally perform well under the calendar effect in the fourth quarter.
Orient Securities Company Limited(600958) believes that with the landing of the third quarterly report, the stage with the greatest pressure on the fundamentals of A-Shares may end , the roe of A-Shares is expected to rise steadily and slightly, and the growth rate of net profit will gradually bottom in the next few quarters. Considering that China’s monetary policy will maintain a relatively warm environment in the medium term, the market risk appetite is expected to rebound.
In terms of configuration, Orient Securities Company Limited(600958) further analysis, on the one hand, we can continue to focus on the growth and technology sectors such as new energy vehicles, photovoltaic and semiconductors with strong performance boom and medium and long-term industry development certainty; On the other hand, we can layout the leading white horse style (represented by Shanghai and Shenzhen 300) .
In addition, Sealand Securities Co.Ltd(000750) mentioned that consider the allocation idea of high prosperity + oversold marginal improvement . On the one hand, the third quarterly report shows that the profit growth of the whole a in a single quarter has turned negative, the scarcity of the boom sector is strengthening in the period of profit decline, and the high boom sector can attack and retreat, mainly focusing on the new energy and new energy vehicle chain. On the other hand, industries with oversold in the early stage and improved performance margin to a certain extent also deserve attention, mainly focusing on subdivided industries such as food and beverage and consumer electronics.
