The tense situation in Russia and Ukraine continues to suppress the sentiment of funds in overseas markets.
Affected by the geographical situation, risk aversion in overseas markets is still strong. During yesterday’s night trading, the prices of safe haven assets such as gold and crude oil continued to rise, Comex gold continued to operate above US $1900 / ounce, and Brent crude oil broke through the US $100 / barrel mark again.
In contrast, the emotional disturbance in the A-share market decays in stages. Yesterday, the three major A-share indexes rose across the board, and the Shanghai index gained three consecutive positive days, once again approaching the 3500 point integer mark. Previously, the Shanghai Stock Index repeatedly hit 3500 points in February without success. It remains to be seen whether it can break through this key point.
As of yesterday’s close, the Shanghai composite index was reported at 348883 points, up 0.77%; The Shenzhen Component Index rose 0.24% and the gem index rose 0.16%. A total of 969061 billion yuan was traded in Shanghai and Shenzhen, basically the same as on Monday.
From the disk, A-Shares have shown a sector rotation pattern recently. Following the lithium battery stocks continued to rebound, the big consumer sector yesterday took the lead, beer, Baijiu, tourism, breeding sectors and other related stocks rose sharply. In terms of individual stocks, Beijing Yanjing Brewery Co.Ltd(000729) , Fujian Yanjing Huiquan Brewery Co.Ltd(600573) both rose by the limit, Kweichow Moutai Co.Ltd(600519) rose by 3.8%.
Sinolink Securities Co.Ltd(600109) consumption strategy analyst Zhang Minmin recently said that according to the continuous tracking of Wuxi Online Offline Communication Information Technology Co.Ltd(300959) and research data, it can be found that different consumer categories are at different stages of transmission. In terms of food, the transmission of edible oil and dairy products is the most smooth, and the price and sales have increased; In the continuous price increase of beer, as the epidemic prevention and control maintains a good trend, it brings the repair of offline consumption scenes. It is optimistic about the sales volume of beer in the peak season, which is expected to release the profit elasticity.
The main line of new energy also shows a rotating pattern. Yesterday, lithium battery stocks took a break and photovoltaic stocks had a strong trend. As of the close of trading, Longi Green Energy Technology Co.Ltd(601012) rose 3.06%. Since mid February, Longi Green Energy Technology Co.Ltd(601012) has rebounded more than 20% from its low point Wuxi Shangji Automation Co.Ltd(603185) , Tongwei Co.Ltd(600438) , Jiangsu Akcome Science And Technology Co.Ltd(002610) and other key companies in the photovoltaic sector have also shown an obvious rebound trend in their share prices recently.
China International Capital Corporation Limited(601995) chief strategist Wang Hanfeng said that the historical conflict on the outer edge of Shanghai will affect China’s stock market in the short term, but the medium-term impact is limited. At present, the “policy bottom” of A-Shares has been relatively clear, and it has been further confirmed by the higher than expected credit social finance data in January. If the geographical situation, epidemic situation and other factors are no longer significantly higher than expected, the “emotional bottom” of A-Shares is also expected to be gradually confirmed.
“From the perspective of structure, we believe that in the early market correction, the risk of growth stocks has been released and is gradually entering the stage of ‘bargain hunting’; the volatility of the ‘steady growth’ sector has increased, but there may still be room for performance in the follow-up. On the whole, the style of the A-share market may gradually transition to a relatively balanced stage.” Wang Hanfeng thinks.
Tao Chuan chief Macro Analyst of Soochow Securities Co.Ltd(601555) said that the market will enter the “national two sessions time” this week, and the performance of traditional infrastructure, new infrastructure and consumption fields is worth looking forward to.
“Previously, during the two sessions, transportation, power, water conservancy and municipal projects were mentioned more frequently, which is expected to play an important stabilizing function; 5g infrastructure, wind power photovoltaic and data center and other related infrastructure are also expected to become an important driving direction. In addition, as the largest component of the economy, stabilizing the economy is also inseparable from consumption.” Tao Chuan said.
