Yesterday, the index fluctuated higher throughout the day and continued to rebound, led by the Shanghai index. The turnover of Shanghai and Shenzhen stock markets was 969.1 billion, 20 billion more than that of the previous trading day. In terms of sectors, pork, tourism, education, coal and other sectors led the increase, while precious metals, lithium extraction from salt lakes, glyphosate, medical devices and other sectors led the decline. As of yesterday’s close, the Shanghai index rose 0.77%, the Shenzhen Composite Index rose 0.24% and the gem index rose 0.16%. Northbound funds bought a net 3.276 billion yuan throughout the day, including 2.807 billion yuan for Shanghai Stock connect and 470 million yuan for Shenzhen Stock connect.
Overnight, the three major US stock indexes collectively closed down, with the Dow down 1.77%, the NASDAQ down 1.59% and the S & P 500 down 1.55%. New energy vehicle stocks fell, and Xiaopeng automobile fell nearly 7%. Bank stocks fell; Precious metal sectors and oil and gas stocks rose against the market. Other popular stocks, iqiyi closed up 21%, 51job closed up more than 10%, baidu closed up more than 6%, zoom closed down more than 7%.
At the morning meeting of securities companies today, China International Capital Corporation Limited(601995) said that the “policy bottom” has been confirmed and the “emotional bottom” is approaching Northeast Securities Co.Ltd(000686) pointed out that there is still room for aggregate monetary policies such as reducing reserve requirements and interest rates; In terms of sector opportunities, Shanxi Securities Co.Ltd(002500) believes that the approaching of the “two sessions” is expected to drive some hot topics back to restlessness, and it is suggested to pay attention to the theme of “expanding domestic demand”;
CICC: the “policy bottom” has been confirmed, and the “emotional bottom” is approaching
China International Capital Corporation Limited(601995) pointed out that the Chinese market may experience “policy bottom, sentiment bottom and growth bottom” successively from the end of last year to the first half of this year. At present, the policy bottom has been relatively clear. The higher than expected credit and social finance data in January further confirmed the “policy bottom”, and the “sentiment bottom” may be around the middle of the second quarter. If geography and epidemic situation no longer exceed expectations, It may be gradually confirmed that with the gradual implementation of the steady growth policy, the “bottom of growth” may gradually appear from the first quarter to the second quarter.
Northeast Securities Co.Ltd(000686) : there is still room for aggregate monetary policies such as reducing reserve requirements and interest rates
Northeast Securities Co.Ltd(000686) research report believes that there were many highlights of PMI index in February, and many indicators went up seasonally. The steady growth is consistent with words and deeds, the effect is gradually implemented, and the economic momentum is stabilizing and repairing. However, at the same time, we also need to see that there are still many prominent problems in the production and operation of enterprises. At present, we still need to promote the implementation of policies such as helping enterprises and relieving them, so as to provide strong support for the stable growth of the manufacturing industry. In the future, more vigorous tax and fee reduction policies and structural monetary easing will become necessary options, while there is still room for aggregate monetary policies such as reducing reserve requirements and interest rates. With the continuous implementation of the effect of fiscal power, we expect that China’s economy will gradually stabilize from the end of the first quarter to the second quarter. Under the base effect, the trend of the whole year is from low to high.
Shanxi Securities Co.Ltd(002500) : “two sessions” approaching, focusing on the theme of “expanding domestic demand”
Shanxi Securities Co.Ltd(002500) said that in terms of the study and judgment of the general trend of a shares, the inter-bank liquidity continued to converge after the Spring Festival, the capital price exceeded the level of the same period last year, and there was still further upward pressure. It was difficult for the market to have substantial growth in the short term, the concentration of capital hotspots was low, the style and main line were still unclear, and the structural market would 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”.
