After the rapid decline in January, the A-share market showed differentiation in February, but the monthly lines of Shanghai index and Shenzhen index have both turned red.
In the view of institutions, the market has a margin of safety after adjustment, but the mood may continue to be restrained by peripheral risks. The A-share market is still dominated by shocks in March, and structural opportunities are expected to increase; In terms of investment layout, high boom industries and steady growth are the directions that securities companies pay more attention to.
With the release of securities companies' investment strategy in March, there is also their promising "gold stock" portfolio. According to incomplete statistics, as of February 28, 12 securities companies had announced their optimistic "gold stocks" in March, a total of 114. On the whole, these "gold stocks" are densely distributed in power equipment, mechanical equipment, computer, electronics, automobile, medicine, biology and other industries.
overall market performance in 3 may be better than that in February
As of the closing on February 28, the three major stock indexes of A-Shares collectively turned red, and the gem index hit 2900 points again. From the market situation of the whole month in February, the Shanghai index closed up 3%, the Shenzhen Component Index closed up 0.96%, the gem index fell 0.95%, and the market differentiation was obvious.
For the current market of a shares, China Galaxy Securities Co.Ltd(601881) Securities believes that looking forward to the future, the market has a safety margin after adjustment, but the mood may continue to be restrained by peripheral risks.
Ping An Securities believes that the A-share market in March is still dominated by shocks, but structural opportunities are expected to increase, and the overall performance will be better than that in February. After March, with the release of economic data, the policies of the two sessions and the performance of listed companies, the uncertainty of the market will gradually decrease and the bottom of the market will be closer and closer.
In terms of overseas disturbance factors, in addition to the situation in Russia and Ukraine, the first interest rate meeting held by the Federal Reserve on March 17 also deserves attention. In Soochow Securities Co.Ltd(601555) view, as long as the interest rate is not increased by 50 basis points and the table is not announced, the market will be "relieved" and the bad will be exhausted, causing the market to rebound.
The annual reports of Listed Companies in 2021 have been disclosed one after another, Western Securities Co.Ltd(002673) believes that the performance window period of the annual report is also an opportunity for the market to move from chaos to order, and the performance realization of the high growth sector is expected to become an important opportunity to promote the upward movement of the market center. Looking forward to the future, the style correction market is starting. The boom track leader with large adjustment range in the early stage and high performance fulfillment will usher in a round of repair market.
technology growth style is favored
While looking forward to the future market, many securities companies also disclosed their promising investment "gold stocks" in March.
According to the incomplete statistics of China Securities Journal and China Securities Taurus reporter, as of February 28, 12 securities companies, including China Galaxy Securities Co.Ltd(601881) securities, China Securities Co.Ltd(601066) securities, Anxin securities, Dongxing Securities Corporation Limited(601198) , Huaan Securities Co.Ltd(600909) and other securities companies, had disclosed the list of investment portfolios in March, and recommended 114 A shares and Hong Kong stocks in total.
From among the stocks with the highest number of recommended shares, the four stocks of China Pacific Insurance (Group) Co.Ltd(601601) Guangzhou Automobile Group Co.Ltd(601238) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\909 , open source securities, The Pacific Securities Co.Ltd(601099) securities, etc. Divided by Shenwan level industry, the above four stocks belong to automobile, computer, banking and food and beverage sectors.
The stocks with the highest number of recommendations from securities companies also include Ningbo Ronbay New Energy Technology Co.Ltd(688005) , Contemporary Amperex Technology Co.Limited(300750) , Goertek Inc(002241) , Tianqi Lithium Corporation(002466) , Gemdale Corporation(600383) , Lushang Health Industry Development Co.Ltd(600223) , etc. From the perspective of the overall industry distribution, the aforementioned 114 "gold stocks" are concentrated in power equipment, mechanical equipment, computers, electronics, automobiles, medicine and biology, and the overall style is biased towards scientific and technological growth.
List of gold shares of 12 securities companies in March
Data source: Research Report of securities companies
focus on the high-profile industry and the main line of steady growth
For the future allocation direction, China Securities Co.Ltd(601066) securities is optimistic about power semiconductors and photovoltaic with high prosperity, CXO with expected marginal improvement, etc., while paying attention to aluminum, crude oil chain, thermal power and digital economy supported by policies.
China Galaxy Securities Co.Ltd(601881) Securities believes that China's financial and economic environment is relatively stable compared with adverse factors such as overseas liquidity contraction and high inflation. With the policy support, the downstream demand can be recovered gradually, and the emergence of the economic bottom will significantly boost the market, but in the short term, we still need to pay attention to the cost performance and alpha value of allocation. The main line of the industry is still to focus on the areas that benefit from the national long-term strategic support or the support of short-term stable growth policies.
From the perspective of fundamentals, YueKai securities expects that the steady growth that can be attacked and maintained will still be the main market. In addition, for the high valuation sector, the advantageous industries with core competitiveness have better anti risk and anti fluctuation ability. Under the energy revolution, the new energy development road represented by "scenery hydrogen storage" has a long slope and thick snow, and the long-term layout value is reproduced after adjustment.
Cinda securities recommends three main lines: first, financial, real estate, construction and other sectors, which can continue to be over allocated until the second quarter; Second, the supply and demand cycle of hotel, aviation, military industry and other industries is independent and can be paid attention to all year round; Third, the growth sector has a large decline in the early stage, and there is the possibility of oversold rebound. It is suggested to pay attention to computers and media.
