In March, the latest monthly gold stock portfolio of securities companies was gradually announced.
On the whole, securities companies focused on the two sessions in March, and "steady growth" is still favored by their securities companies, and some securities companies pay attention to over falling high-quality growth stocks. In the construction of gold stock portfolio, the configuration of most securities companies is relatively balanced, while some securities companies focus on growth, cycle, high-end manufacturing and other styles.
Guosen Securities Co.Ltd(002736) recently pointed out in the research report that the "gold stock portfolio of securities companies" not only reflects the top-down industry, sector and style allocation ability of total analysts (such as macro, strategy, financial engineering and other teams), but also reflects the bottom-up stock selection ability of industry analysts, which is the embodiment of the core competitiveness of the research strength of securities companies Research Institute.
2 months, over 60% gold stocks achieved positive returns
Compared with the overall adjustment of the market in January this year, the A-share market recovered as a whole in February. The Shanghai Composite Index rose 3% in February, the gem index fell 0.95% and the CSI 300 index rose 0.39%. In terms of industries, most industries rose in February, with non-ferrous metals, coal, basic chemicals, petroleum and petrochemical and other sectors rising significantly, while household appliances and non banking industries led the decline.
The performance of securities companies' gold stocks also showed a certain excess return with the recovery of the market. According to the data of each city (Meishi Technology), as of the closing on February 28, 335 gold shares of securities companies rose or fell by an average of 2.88% in February. A total of 213 gold stocks recorded positive returns, accounting for about 64%; Among them, 61 gold stocks increased by more than 10%, accounting for about 18%.
from the perspective of the return rate of gold stock portfolio of securities companies, according to the data of each city (Meishi Technology), among the 50 securities companies with data, 33 securities companies achieved positive returns in February, accounting for two-thirds
Specifically, East Asia Qianhai securities, Huaxin securities and Central China Securities Co.Ltd(601375) 2 month gold stock portfolio yield ranked among the top three, and the highest East Asia Qianhai securities portfolio rose by 10.87% in February. In addition, the monthly yield of Minsheng securities, China stock market news securities and Cinda securities portfolio is also more than 7%.
In terms of individual stocks, the Asia-Potash International Investment (Guangzhou) Co.Ltd(000893) , Hubei Yihua Chemical Industry Co.Ltd(000422) , recommended by East Asia Qianhai securities, rose 40% and 31% respectively in February; The Keda Industrial Group Co.Ltd(600499) 2 month recommended by Huaxin securities increased by 27% Central China Securities Co.Ltd(601375) recommended Hangzhou Cncr-It Co.Ltd(300250) monthly increase of 31%.
March 3
As of March 1, nearly 20 securities companies have released the list of gold stocks in March.
looking at the gold stocks in March, the configuration of most securities companies is relatively balanced, while some securities companies focus on growth, cycle, high-end manufacturing and other styles
From the perspective of the objects jointly recommended by each company, Bank Of Ningbo Co.Ltd(002142) was jointly selected into the monthly gold shares by Guotai Junan Securities Co.Ltd(601211) , China Securities Co.Ltd(601066) , Dongxing Securities Corporation Limited(601198) , Huaan Securities Co.Ltd(600909) , Zhongtai Securities Co.Ltd(600918) and other securities companies China National Nuclear Power Co.Ltd(601985) was recommended by Anxin securities, Minsheng securities, Guolian Securities Co.Ltd(601456) and other securities companies Wuliangye Yibin Co.Ltd(000858) recommended by Anxin securities, The Pacific Securities Co.Ltd(601099) securities, Dongxing Securities Corporation Limited(601198) and other securities companies Dawning Information Industry Co.Ltd(603019) is favored by open source securities, Dongxing Securities Corporation Limited(601198) and other securities companies. In addition, Suzhou Maxwell Technologies Co.Ltd(300751) , Contemporary Amperex Technology Co.Limited(300750) , Chow Tai Seng Jewellery Company Limited(002867) , Lushang Health Industry Development Co.Ltd(600223) , Beijing Oriental Yuhong Waterproof Technology Co.Ltd(002271) , Wingtech Technology Co.Ltd(600745) and other stocks have also been recommended by no less than two securities companies.
It is worth mentioning that in addition to stocks, Minsheng securities also recommended 8 "gold ETFs", including coal ETF, real estate ETF, military leading ETF, bank ETF, value 100ETF, dividend ETF, dividend LV, gold ETF, etc. In addition, Zhongtai Securities Co.Ltd(600918) recommended the leading ETF in military industry, and Debon securities recommended the bank ETF.
Guosen Securities Co.Ltd(002736) metalworking teams Zhang Xinwei and Zhang Yu said in the research report recently that in general, the cumulative excess return of exclusively recommended gold stocks within 60 trading days after being recommended by securities companies is higher than that of multi person recommended gold stocks, but the increase of multi person recommended gold stocks before being recommended is significantly higher than that of exclusively recommended gold stocks.
Guosen Securities Co.Ltd(002736) also pointed out that generally speaking, the main logic for analysts to recommend gold stocks of securities companies can be roughly divided into the following two types: first, the company's performance is good, and there is a large room for rise under the joint promotion of performance improvement and market sentiment; Second, the company's performance is flawed, but the overreaction in the early stage of the market makes the stock have high cost performance. On the whole, the former prefers to recommend on the right, while the latter prefers to layout on the left.
two sessions market is concerned
China Merchants Securities Co.Ltd(600999) strategy believes that into March, overseas risks have not completely subsided, China will hold two sessions, and the market will still focus on bottom seeking and bottom building. After the release of external risks and the strength of China's steady growth, A-Shares will usher in a clearer upward starting point signal. The deterioration of the situation in Russia and Ukraine has produced uncertainty on the global commodity supply chain. On the Chinese side, the policy will focus on China and keep the economy operating within a reasonable range. The two sessions will make more statements and arrangements around steady growth. In short, "steady growth", "going upstream" and "self-sufficiency and controllability" may become the main investment line this year.
In terms of specific allocation, integrating fundamentals, events and policies, the upstream links of "self-sufficiency and controllability" of finance, energy, resources, equipment and materials, and the upstream links of China's steady growth have become the direction of key layout. According to the idea of "buying upstream", in March, we can focus on upstream resource products that may be disturbed by the global supply chain, such as petroleum and petrochemical, energy metals and industrial metals; Independent and controllable credit creation, financial it and digital RMB in the financial field. At the same time, the "self-sufficiency and controllability" targets in various high-end equipment, high-end materials and seeds can also consider the key layout. From the perspective of steady growth, banks, real estate and cement still deserve special attention.
Everbright Securities Company Limited(601788) believes that the market may have stronger performance before and after "two sessions". The two sessions have always been an important event concerned by the capital market, in which the setting of economic objectives, the direction of macro policies, industrial policies and so on will have a significant impact on the interpretation of the market. Historically, the probability of market rise after the two sessions is also relatively high, especially in 2015 and 2019, where the demand for "stable growth" is high.
Considering the current economic pressure and policy direction, the overall policy during the two sessions is expected to be relatively friendly, and the market may perform well in March. In terms of allocation, it is suggested to focus on two main lines: steady growth and consumption.
Guosheng Securities believes that when the short-term decision is not reached, the market in the lunar year continues and the balanced rebound is expected to continue. From a short-term perspective, between the current and the two sessions, it is in a window period with good odds and odds. The market in the lunar year is expected to continue. The trading bottom of the high boom track may have appeared, and the style probability is balanced. In terms of strategy, (1) the widening trend of credit conditions is confirmed, the downward policy of economic inertia is heating up, and high-quality banks, state-owned enterprise developers and buildings / building materials are recommended; （2） The market sentiment is repaired from the bottom, and the computer catalyzed by the concept of communication and digital economy in the direction of new infrastructure development is recommended; （3） Household appliances with relatively low valuation in the real estate cycle and tourism trips with the concept of dilemma reversal.
Soochow Securities Co.Ltd(601555) said that was cautiously optimistic about the capital market in 2022. The main tone is cautious, but actively pay attention to the opportunity to fall out. The appropriate selling period focuses on two sustainable rebound periods. The first time window is the first interest rate meeting of the Federal Reserve on March 17. As long as the interest rate is not increased by 50 BP and the table is not announced, the market will be relieved and the market will rebound. The second and more important time is in June this year, when PPI fell. From the perspective of configuration, we continue to be optimistic about the growth style, and the industry is biased towards new energy and digital economy.
Zhongtai Securities Co.Ltd(600918) believes that after the change of internal expectations and the impact of external uncertainty in 1-february, the index structure has become more and more healthy, and the risk appetite is still slowly improving at the bottom. We are optimistic about the market in March. In terms of allocation ideas, it is suggested to focus on the interior and focus on the layout of ideas such as high growth of first quarter performance, high-quality growth of oversold and the expectation of the two sessionscenter>
