panel overview
Affected by the escalation of the situation in Ukraine, A-Shares opened low and went low in early trading on Wednesday, with contraction falling, led by the gem. On the disk, mining, petroleum, nonferrous metals, coal, gas, agriculture, animal husbandry, feeding and fishing, traditional Chinese medicine, shipping ports, precious metals, steel and other industries led the increase; Battery, semiconductor, wind power, photovoltaic, electronic components, medical services, aerospace, shipbuilding, consumer electronics and other industries led the decline. In terms of subject stocks, China Russia trade concept, combustible ice, oil and gas equipment and services, aquaculture, shale gas, transgenic, agricultural planting and natural gas led the rise, while blade batteries, solid-state batteries, CRO, automobile chips and IGBT led the decline.
message surface
the first city to fully relax purchase and loan restrictions 19 measures issued simultaneously
On March 1, Zhengzhou released 19 measures to stabilize the real estate market. In addition to measures such as giving college students house purchase subsidies and encouraging the elderly to take refuge in new houses purchased by their families, the most important one is to reduce the personal housing consumption burden, not only reduce the housing loan interest rate, but also relax the identification standard of the first set of housing loans.
lack of core and power! Electric vehicle enterprise lucid’s output is expected to drop by 40%
After US stock market trading on Monday, lucid, a US electric vehicle manufacturer regarded as Tesla‘s competitor, announced the fourth quarter results of 2021. Among them, the revenue was $26.392 million, lower than the general expectation, but increased significantly compared with the same period of last year; The net loss expanded to US $1046 million, compared with a loss of US $297 million in the same period last year. In addition, lucid cut its 2022 auto production forecast by 40%, from the initial 20000 vehicles to 1200014000 vehicles. At the opening of U.S. stocks on Tuesday, lucid’s share price fell more than 17%. Toyota and Great Wall Euler also cut production one after another.
China International Capital Corporation Limited(601995) : the end of policy has been confirmed and the end of sentiment is approaching
China International Capital Corporation Limited(601995) believes that the market is in a period of policy power, and the “mood bottom” is approaching. Globally, China’s current growth is “up and down inside out”, the policy is “loose inside and tight outside”, the overseas geopolitical risks are superimposed, and the valuation is also adjusted to a reasonable level. The cost performance of the Chinese market is more prominent globally. CICC believes that there is no need to be overly pessimistic about the Chinese market.
Jufeng viewpoint
pre market judgment: overnight, the European stock market fell 4%, the three major US stock indexes fell more than 1.5%, the international oil price rose more than 11%, hitting an 8-year high, and gold rose nearly 2.5%; The global market has opened a safe haven mode. It is expected that the A-share oil and gold sectors will strengthen significantly, and the defensiveness of white horse stocks with low P / E ratio will be improved.
In fact, the three major indexes opened slightly lower this morning, with the Shanghai index opening lower by 0.30%, the Shenzhen Composite Index opening lower by 0.56% and the gem opening lower by 0.66%. The oil and gas exploitation sector opened significantly higher by 6%, and coal and gold opened higher by more than 1%.
After the opening, track stocks made a sharp correction, with auto chips, cros, lithium batteries and semiconductors among the top decliners; Sino Russian trade concept, seed stocks and nonferrous metals increased, while the increase of oil and gas sector narrowed. The gem index once fell by more than 2% due to the sharp correction of Contemporary Amperex Technology Co.Limited(300750) , and the Shanghai index fell slightly due to the protection of bank stocks and Chinese prefixes ( Aluminum Corporation Of China Limited(601600) , China Aluminum International Engineering Corporation Limited(601068) , Petrochina Company Limited(601857) , China Coal Energy Company Limited(601898) , China Shenhua Energy Company Limited(601088) , China State Construction Engineering Corporation Limited(601668) ). In terms of technical form, the oversold rebound market formed after the Spring Festival is over, and then there will be shock bottoming.
investment suggestions:
Jufeng investment adviser believes that the liquidity at the macro level has been gradually improved, and the central bank has continuously cut reserve requirements and interest rates to release liquidity, indicating that the policy bottom has appeared; However, the construction of the market bottom is complex and there is a time lag between the market bottom and the policy bottom. Before the Spring Festival, the market continued to callback, the overvalued track stocks and growth stocks were significantly adjusted, and the undervalued blue chips reflected a certain degree of defensive. After the Spring Festival, market liquidity improved, and value and growth rose one after another. Recently, the oversold rebound of growth stocks and secondary new shares has been launched, but the sustainability is not strong. Pay attention to grasp the opportunity of high selling. When the two sessions windows are opened, the probability of A-share building the bottom box is high; The medium-term proposal takes growth as the main line, and individual stocks with higher than expected growth in the annual report and the first quarter report can continue to participate in the rebound.
