Reviewing the A-share market on Tuesday (March 1), Shanghai and Shenzhen stock markets made a good start to the market in March. The three major A-share indexes opened higher across the board. After the high shock at the beginning of the session, the stock indexes appeared to be differentiated to a certain extent, and the Shanghai index showed a relatively strong performance. However, the gem index and the gem index once fell and turned green, rebounded and turned red in the afternoon, and the three major indexes in the late session further rose rapidly and walked out of the V-shaped reverse market.
As stated by Guosheng securities, the stock index rose significantly at the end of Tuesday, but the volume was not effectively enlarged, indicating that OTC funds are still cautious; The daily line continues to maintain the box shock pattern, and the transaction volume has not reached the trillion level for two consecutive days. The index lacks the kinetic energy to break through the box pattern upward in the short term, but the bears fail to effectively break through the box under the condition of continuous bad periphery, indicating that the support at the bottom of the box is strong, and the index may continue to maintain the shock pattern in the short term .
In terms of operation, we can pay attention to year to date continuous correction, short-term cost-effective "new energy guide" related growth sectors, as well as the related concepts of "stable growth" of the two sessions, "digital economy", "East number and West calculation" and other theme investment opportunities .
From a technical point of view, Dongguan securities also pointed out that the index continued to rebound on Tuesday, the Shanghai index went out of three consecutive positive days, and the net inflow of funds to the north for three consecutive days boosted market confidence with the gradual digestion of external disturbance factors, it is expected that the market will gradually stabilize and strengthen, pay attention to the change of volume and energy , and it is recommended to pay attention to finance, building materials, steel, electrical equipment, TMT and other industries in operation.
As far as the future is concerned, Central China Securities Co.Ltd(601375) said that the impact of the situation in Russia and Ukraine on the A-share market may be gradually weakened in the future. Investors pay more attention to the impact of Chinese factors. The national two sessions are about to be held. It is suggested that investors pay close attention to the changes in policy, capital and external market . It is expected that the short-term slight consolidation of the Shanghai index is more likely, and the short-term shock rebound of the gem is more likely. We suggest that investors should pay close attention to the investment opportunities in new energy, medical treatment, small metals, chemical fertilizer, semiconductor and other industries in the short term, and continue to pay attention to the investment opportunities of undervalued blue chips in the middle line.
Wanhe Securities believes that current market uncertainties are increasing , and overseas risks include geopolitical situation, global supply chain, global inflation and so on; 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.
The agency further pointed out 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 of the market . This year, China focuses on steady growth. Facing the new crisis in the global supply chain, China faces 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 and clarify the direction of steady growth this year. In terms of industry, we can pay attention to the industrial chain related to consumption and infrastructure.
In the macro aspect, Dongguan securities also mentioned that from the perspective of the market environment in March 2022, the market's expected changes in the peripheral environment have been gradually reflected, and the performance of the short-term market pays more attention to China. The convening of the two sessions in March will clarify the overall policy tone of this year, which is expected to release positive signals and stabilize growth or gradually increase, In particular, there is still room for moderately loose monetary policy to guide financial institutions to effectively expand credit supply . The market capital remains relatively stable. Under the background of stable RMB exchange rate, the net inflow of funds from the north and the weakening of the reduction of industrial funds constitute support for the market capital.
After the market experienced the shock and rest from January to February, the technical level has been repaired, and it is unlikely that the market will continue to adjust. With the gradual release of selling pressure caused by the market's concern about the peripheral environment and the recovery of the stability maintenance expectation of the two sessions, it is expected that the market will be moderately repaired in March, which does not rule out the bottom and stabilize, Pay attention to the change of energy and geopolitics . In terms of industry configuration, it is suggested to pay attention to finance, basic chemical industry, building materials, TMT, electrical equipment, environmental protection, steel, food and beverage and other sectors.
In terms of operational strategy, Wanlian Securities pointed out that 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 the A-share allocation in March, Orient Securities Company Limited(600958) believes that a more balanced allocation is needed to deal with many uncertainties outside China. Specifically: first, reverse industries under low expectations and new theme investment are still important allocation directions :
On the one hand, although the market is skeptical about the strength of steady growth, it can not be proved false, and we believe that there is pressure on the overall macro-economy in the first half of 2022, so the "steady growth" policy is still necessary. At present, the relevant sectors fall synchronously with the index, have the allocation opportunity, and focus on the direction of the power and real estate industry chain.
In addition, although the uncertainty of the epidemic situation may still disturb the recovery rhythm of catering, tourism, transportation and other industries, with the liberalization of overseas epidemic control and the further scientific prevention and control of the global epidemic, the "post epidemic" industry is expected to gradually achieve the expected repair or even reversal.
On the other hand, new thematic investments are still actively emerging: for example, digital economy, automotive intelligence, state-owned enterprise reform and other directions.
second, since the beginning of the year, the valuation of semiconductor and pharmaceutical technology sectors with strong long-term policy certainty, large industry space and accelerated domestic substitution, as well as military industry, new energy vehicles and other sectors has been adjusted to a certain extent , especially the valuation cost performance of some leading companies and representative companies has begun to show, which is worthy of key allocation. Focus on photovoltaic, energy storage industry chain, lithium ore, semiconductor and other directions.
third, energy, upstream resource products and other sectors are still expected to benefit from the increased expectation of global inflation in the short term. It is suggested to pay attention to .
