Market review: the Shanghai and Shenzhen index made a "good start" in March, and the consumer sector warmed up
The Shanghai and Shenzhen index closed up again today and ushered in a "good start" in March. As of the close, the Shanghai index rose 0.77% to 348883 and the Shenzhen index rose 0.24% to 1348864. In terms of sectors, agriculture, forestry, animal husbandry and fishery, coal, food and beverage sectors led the increase, while non-ferrous metals, petroleum and petrochemical and basic chemical sectors led the decline. The turnover of the two cities was 969.06 billion yuan, an increase of 2.10% over the previous trading day and a contraction of 9.43% over the average of the previous five days. The net purchase of Shanghai Stock connect was 2.807 billion yuan, the net purchase of Shenzhen Stock connect was 470 million yuan, and the net purchase of northbound funds throughout the day was 3.276 billion yuan.
Market focus:
According to the data released by the National Bureau of statistics on March 1, in February, China's Manufacturing Purchasing Manager Index (PMI) was 50.2%, up 0.1 percentage points from the previous month, of which the production index was 50.4%, down 0.5 percentage points from the previous month, the new order index was 50.7%, up 1.4 percentage points from the previous month, and the raw material inventory index was 48.1%, down 1.0 percentage points from the previous month. The non manufacturing business activity index was 51.6%, up 0.5 percentage points from the previous month, of which the construction business activity index was 57.6%, up 2.2 percentage points from the previous month. The business activity index of the service industry was 50.5%, up 0.2 percentage points from the previous month.
Strategy suggestion: focus on the theme of "expanding domestic demand"
On the first trading day of March, both the Shanghai and Shenzhen indexes closed up and ushered in a "good start". Among them, the Shanghai index maintained a high shock after the opening, and the rise in the late trading further widened. The Shenzhen index showed a "V" trend throughout the day. After the high opening in the morning, it fluctuated all the way down, rebounded in the afternoon, and turned red in the late trading. Purchasing and storage work started to drive the pig industry sector to strong, and beer, Baijiu, tourism and other consumer sectors were warming up. On the whole, during the Russian Ukrainian negotiations, the A-share market sentiment was repaired, and individual stocks rose more and fell less, with a rise and fall ratio of 31991380. However, the direction of capital attack was relatively scattered, and the strong main line did not appear. In terms of macro economy, the PMI data in February sent a certain positive signal. The rebound of the new order index reflects the improvement of the demand side. The decline of the production index may be more affected by seasonal factors such as the Spring Festival holiday, the outlook of the service industry has improved, and the impact of the epidemic is expected to gradually subside. At the same time, The acceleration of construction activities or the realization of the "steady growth" policy is hedging the downward pressure on China's economy. The conflict between Russia and Ukraine is still ongoing. We expect that it will take some time for the negotiations to produce substantive results. With the participation of various forces, the situation here is still full of variables. It is suggested to continue to pay attention to the impact of the conflict and Western sanctions on global energy, nonferrous metals, Shenzhen Agricultural Products Group Co.Ltd(000061) prices, as well as the specific rhythm of tightening monetary policy by the central banks of Europe and the United States. In terms of the research and judgment of the general trend of a shares, the inter-bank liquidity continues to converge after the Spring Festival, the capital price exceeds the level of the same period last year, and there is still further upward pressure. The market volume can hardly have substantive growth in the short term, the concentration of capital hotspots is low, the style and main line are still uncertain, and the structural market will continue. In this context, the approaching of the "two sessions" is expected to drive some hot topics back to restlessness. It is suggested to continue to pay attention to the sub sectors such as high-energy motors and wind power in the theme of carbon neutralization, as well as the sectors such as household appliances and automobiles under the theme of "expanding domestic demand".
