Today (March 1), the Shanghai and Shenzhen stock markets opened high across the board. After the opening high shock, the stock index appeared differentiation, and the Shanghai index showed relatively strong performance. The gem index and the gem index once fell and turned green, rebounded in the afternoon, and closed red. The three major indexes in the late trading further rose rapidly and walked out of the V-shaped reverse market.
As of the close of Shanghai and Shenzhen stock markets all day, the Shanghai index rose 0.77% to 348883 points, with a positive daily line for three consecutive days; The Shenzhen Component Index rose 0.24% to 1348864 points; The gem index rose 0.16% to 288579.
From the disk point of view, the light index heavy stock market reappeared, the industry and concept sector rose more or fell less, and the local profit-making effect soared. In terms of industries, wine making, education, tourism and hotels, coal, agriculture, animal husbandry, feeding and fishing, aerospace, decoration and other industries led the increase; In terms of theme stocks, the rise was led by chicken concept, East West calculation, cross-border payment, pork concept, online education and photovoltaic building integration.
In terms of capital, the central bank announced on March 1 that in order to maintain the reasonable and abundant liquidity of the banking system, the people's Bank of China carried out RMB 50 billion reverse repurchase operation by means of interest rate bidding on March 1, 2022, and the bid winning interest rate was 2.1%. In view of the maturity of 100 billion yuan of reverse repurchase today, the people's Bank of China has realized a net return of 50 billion yuan in the open market.
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message surface
1. According to Shanghai Securities News, on March 1, the Shanghai Stock Exchange officially released the action plan for carbon peak and carbon neutralization of Shanghai stock exchange during the 14th Five Year Plan period. On the same day, the theme discussion of green finance and the press conference of action plan were held in the trading hall of Shanghai Stock Exchange. Representatives of capital market financing subjects, investment institutions and intermediaries attended and spoke, and shared and exchanged views on the practice of green dual carbon investment and financing and the development of green finance industry.
2. According to the National Bureau of statistics, in February, the purchasing manager index (PMI) of China's manufacturing industry was 50.2%, up 0.1 percentage points from the previous month, continuing to be higher than the critical point, and the prosperity level of the manufacturing industry increased slightly.
3. According to China news network, on March 1, the State Information Office held a press conference on "adhering to the principle of stability and promoting high-quality business development". Minister of Commerce Wang Wentao mentioned at the meeting that the Ministry of Commerce will promote the implementation of the promotion strategy of the free trade area, promote the negotiation of free trade agreements with the GCC, Ecuador, Israel, Norway, China, Japan and South Korea, and actively promote the upgrading of free trade agreements such as version 3.0 of the China ASEAN Free Trade Area.
4. According to china.com, on March 1, the State Council Information Office held a press conference on adhering to the principle of maintaining stability and promoting high-quality business development. Wang Wentao, Minister of Commerce, said that we should encourage the development of new business forms, new models and new scenes. Last year, I also said that there were innovations in many places, such as forming some characteristic blocks and online red card punching places. We will support qualified places to develop the first store economy and the first economy, expand new consumption such as customization, experience, intelligence and fashion, develop green and healthy consumption, and better meet people's needs for a better life.
institutional views
For the current market, Huaxin Securities said that the market price has been desensitized to the conflict between Russia and Ukraine. Unless the situation is further out of control, the pattern of A-share shock and strength will not change. Maintaining the previous judgment, A-Shares are bottoming, so with the subsequent repair of market risk appetite, the market price will have positive feedback on the steady growth policy, and A-Shares are expected to usher in a restless market in spring.
Orient Securities Company Limited(600958) pointed out that although the impact of geopolitical risks on the market is still in progress, there are obvious signs of gradual reduction. The risk disturbance is only reflected in the emotional level. After March, the market will enter the observation period of the effect of stable growth policies. It is expected that the follow-up policies will continue to increase and concentrate, which will have a positive impact on the market.
From the perspective of market performance, after a sharp correction in the early stage, the risk of growth stocks has been released and is gradually entering the stage of "bargain hunting"; There is still room for performance in the "steady growth" sector. Overall, the market style has gradually entered a relatively balanced stage, and the opportunity comes from the rotation between sectors.
In terms of industry configuration, Bohai Securities mentioned that considering the confirmation of the second bottom of the index and the optimization of the chip structure in the process of bottom exploration, positive factors are gradually accumulating at this stage. We can pay appropriate attention to offensive varieties this week. However, considering that the current fund issuance rhythm is relatively slow, the issuance of partial equity funds is far lower than that of the same period last year, and under the background of insufficient institutional "bullets", it is difficult for the early track to return to the main line. In the short term, investors can pay attention to the military and industrial machine tool sectors with changes at the bottom.
Wanlian Securities pointed out that it is still in the "performance window period + policy force period". In terms of industry, it is suggested to pay attention to: 1) macro policies should be strengthened, and the "two sessions" are imminent. Before the economic data show substantial improvement, we should continue to pay attention to infrastructure, real estate, finance and other sectors; 2) After the sharp correction of popular tracks, the attraction is improved, and attention is paid to the rebound opportunities of growth sectors.
Looking forward to March, Sealand Securities Co.Ltd(000750) believes that under the combination of "economic bottom + broad currency", the market will rebound and growth will become the most deterministic direction. In terms of economy, the recent steady growth policy has continued to increase, the infrastructure has no risk of growth under the condition of abundant funds and projects, the signal of stabilization of real estate under the background of policy marginal relaxation is clear, and the bottom of this round of economic downturn cycle is expected to be confirmed in the first half of the year. In terms of liquidity, it will remain abundant until the economic stabilization signal is confirmed, and the tone of "focusing on me" will decline, and the quasi interest rate cut is still expected.
With the steady growth of the current market and the gradual reduction of the cost performance of the undervalued chain, growth is still the most deterministic track under the background of "economic bottom + wide currency", specifically including: 1) the hard science and technology industry in the field of digital economy. In January, the 14th five year plan for the development of digital economy was issued, which defined the development direction of science and technology industry with digital economy as the core, The demand of relevant hardware industries is clear, and there is still room for improvement in performance growth;
2) in the new energy field with high prosperity, the global economy continues to increase the development of the new energy field, and the medium and long-term demand will continue to increase. With the gradual launch of new production capacity of upstream raw materials such as industrial silicon and silicon materials, the cost pressure continues to improve, promoting the acceleration of the energy revolution;
3) for the pharmaceutical and biological industry with high cost performance, the overall performance of the pharmaceutical and biological sector has lagged behind in the past year. After a year of correction, the valuation has been at the relative bottom. As the centralized purchase of medicine has become a normalized event, the impact on the performance of the industry has been gradually clarified, the multiple profit and negative factors have gradually cleared out, and the oversold rebound has taken shape.
