Last week, the market was volatile and the industry was mixed. On the disk, the Shanghai index fell 1.13%, the component index fell 0.35%, the gem index rose 1.03%, the Shanghai and Shenzhen 300 fell 1.67%, the Shanghai Stock Exchange 50 fell 2.76%, the China Securities 500 fell 0.23%, the China Securities 1000 rose 1.52% and the science and Innovation Board Rose 3.03%. Shenwanyi industry was mixed. Power equipment (4.25%), national defense and military industry (3.05%), electronics (2.45%) led the increase, while building decoration (- 6.53%), building materials (- 6.50%) and media (- 4.26%) led the decrease.
Last week, the volume of the two cities recovered significantly, and the funds going north showed a net outflow. Last week, the average daily turnover of Shanghai and Shenzhen stock markets was 1060208 billion, up 25.82% from 842664 billion in the previous period; The average daily trading volume of the two cities was 84.840 billion shares, up 24.25% month on month. In terms of RMB, the total outflow from the land stock connect to the north is 6.413 billion yuan, including 5.269 billion yuan from the Shanghai Stock connect and 1.144 billion yuan from the Shenzhen Stock connect; The balance of the two financial institutions fell month on month, closing 1725235 billion yuan on Friday, down 68.696 billion yuan month on month compared with the previous period; Among them, the balance of financing is 1629524 billion yuan and the balance of securities lending is 95.711 billion yuan.
The international geopolitical situation is volatile, and attention is paid to the price changes of upstream raw materials. At present, the situation between Russia and Ukraine has become the focus of global attention. We believe that the violent conflict between Russia and Ukraine has a far-reaching impact on the global economic recovery. We focus on three aspects: first, due to the tense geographical situation, the price of global safe haven assets may fluctuate significantly; Second, global raw material prices may fluctuate, affecting global inflation; Third, the impact of Western sanctions on the follow-up situation and global relations.
China's inflation pressure eased and the two sessions were approaching, focusing on the specific direction of the steady growth policy. From the inflation data in January, China's current inflation pressure has eased, and the price of industrial products has dropped significantly. In addition, the two sessions are approaching. Under the complex and changeable international situation, it will bring more challenges to China's steady growth this year. It is necessary to closely track the central government's judgment on the current situation and the core issues of steady growth.
There are more uncertain factors, waiting for the policies of the two sessions. At present, there are more uncertain factors in the market, and overseas risks such as geographical situation, global supply chain and global inflation; There are risks such as epidemic situation, sluggish domestic demand and increasing downward pressure on the economy, both inside and outside are facing great uncertainty. We believe that the current market will still focus on finding the bottom, and the proximity of the two sessions has also boosted the wait-and-see mood in the market. This year, China focuses on steady growth. Facing the new crisis in the global supply chain, China is facing more severe challenges in the fields of energy, resources and equipment. At this time, we need to wait for the two sessions to make further arrangements around steady growth, It is also clearer about the direction of steady growth this year. In terms of industry, we can pay attention to the industrial chain related to consumption and infrastructure.
Risk tips: the epidemic situation exceeded expectations, the liquidity tightening exceeded expectations, and the economic downturn exceeded expectations.
