Chinalin Securities Co.Ltd(002945) in the morning announcement, attention was paid to the rumors of the company's acquisition reported by the media. Up to now, the company has neither the "acquisition of the securities sector of an Internet giant" mentioned in the relevant media reports, nor the act of planning the acquisition.
Open the trading limit after the fourth board. Is this round of market for brokerage stocks over?
In the new year's market, the "market vane" brokerage stocks continue to be popular.
In early trading on December 13, Chinalin Securities Co.Ltd(002945) (002945) took the lead in closing the fourth consecutive daily limit, and other brokerage stocks also moved with the wind. However, Chinalin Securities Co.Ltd(002945) failed to close the daily limit to the close, and finally closed up 7.04%.
In addition, the wind brokerage index (886054) also rose and fell, closing up slightly by 0.69%. In the nine trading days since December, the brokerage index has closed red in 8 trading days.
For the continuous rise of brokerage stocks, Li longshuan, chief investment adviser of the Federal Reserve securities, told surging news reporters: "on the one hand, the central bank's overall reduction of reserve requirements is in line with market expectations. On the other hand, the central economic work conference first proposed the" full implementation of the stock issuance registration system ", slightly exceeding the expected period."
For the future market of brokerage stocks, Li longshuan believes that from Monday's disk, the trend of "high opening and low going" of brokerage stocks is obvious, and the adjustment has been basically in place in terms of time cycle and withdrawal range. Next, the brokerage stocks currently in the double boom cycle of policy and macro liquidity still deserve the attention of investors.
brokerage stocks rose for days, and all component stocks have closed red since December
As of the closing on December 13, the Shanghai Composite Index rose 0.4% to 3681.08; The Kechuang 50 index rose 0.7% to 1445.71; The Shenzhen Composite Index rose 0.67% to 15212.49 points; The gem index rose 0.87% to 3496.96 points.
Among them, the brokerage sector continues to show an upward trend. As of the close, the wind brokerage index rose 0.69% to close at 10823.09.
It is worth noting that Chinalin Securities Co.Ltd(002945) of the "triple board" once touched the daily limit since December 8, and then opened the daily limit at about 10:17. It fell again near the end of the day. Finally, the share price of the stock closed at 15.35 yuan, up 7.04%.
Recently, the "market weathervane" brokerage stock market has performed considerably. Wind data shows that in the nine trading days since December, the brokerage index has achieved red in eight trading days.
Specifically, from December 1 to December 9, the wind brokerage index rose by 1.4%, 0.88%, 0.51%, 1.24%, 0.27%, 1.49% and 1.90% respectively. Although there was a decline of 1.38% on December 10, the brokerage index rose sharply at the opening on December 13 and turned red again.
In terms of constituent stocks, from December 1 to December 13, all 49 constituent stocks of the brokerage index closed red.
Specifically, Chinalin Securities Co.Ltd(002945) has increased by 46.89% so far this month, ranking first; China Industrial Securities Co.Ltd(601377) (601377) rose 17.52%, ranking second.
In addition, Citic Securities Company Limited(600030) (600030. Sh, 06030. HK), Orient Securities Company Limited(600958) (600958. Sh, 03958. HK), China International Capital Corporation Limited(601995) , East Money Information Co.Ltd(300059) A's share capital has also increased by more than 10% so far.
The share capital of China Greatwall Securities Co.Ltd(002939) (002939), Caida Securities Co.Ltd(600906) (600906), China Securities Co.Ltd(601066) (601066), Huatai Securities Co.Ltd(601688) (601688), Zheshang Securities Co.Ltd(601878) (601878), Caitong Securities Co.Ltd(601108) (601108), Guolian Securities Co.Ltd(601456) , Gf Securities Co.Ltd(000776) (000776), Shanghai Chinafortune Co.Ltd(600621) (600621), China Merchants Securities Co.Ltd(600999) (600999. Sh, 06099. HK), Nanjing Securities Co.Ltd(601990) (601990), Harbin Hatou Investment Co.Ltd(600864) (600864) a has increased by more than 5% so far.
it has been rising for days. Due to the double benefits of RRR reduction and registration system, the adjustment has been basically in place
For the continuous rise of securities companies, Li longshuan believes that it is mainly caused by two factors: "on the one hand, on December 15, the central bank comprehensively lowered the reserve requirements, which is in line with market expectations. The market still has expectations for further easing of follow-up liquidity. In the next quarter, it may be in the stage from wide liquidity to wide credit, which is good for the securities companies in terms of fundamentals and transaction level."
"On the other hand, the central economic work conference first proposed the 'full implementation of the stock issuance registration system', which slightly exceeded expectations. The securities sector is in the double boom cycle of industrial policy and macro liquidity policy, which once again reminds us to pay attention to the current opportunities of the securities sector." Li longshuan further pointed out.
Yuan Huaming, general manager of Huahui Chuangfu investment, told surging journalists that in the traditional sense, the brokerage sector is the wind vane of the A-share market, and the operation and stock price of the sector are greatly affected by the changes of the market. However, some new business logic is weakening the periodicity of the securities industry, which is mainly reflected in the continuous reform of China's capital market, which has brought a lot of incremental business income to the securities industry. At the same time, the transfer of residents' wealth to the equity market has brought opportunities for the transformation of wealth management to the securities industry.
According to the analysis of Tianfeng Securities Co.Ltd(601162) non bank Xia Changsheng team, securities companies are the core carrier of the capital market and benefit most from the comprehensive promotion of the registration system. On the one hand, with the emergence of IPO business increment, investment banking needs more capital strength, sales ability and pricing ability. It is expected that the concentration of business resources will be further improved. As the flow inlet of institutional business, investment banking will promote the strength of institutional business; On the other hand, the supply side dividend continues to be released. It is expected that the transfer of residents' asset allocation to equity assets will be accelerated, the securities companies deeply engaged in the equity fund industry chain will further cultivate advantages, and the wealth management + asset management business will promote the improvement of profitability and robustness.
It is worth mentioning that on December 13, the trend of "high opening and low going" in the securities sector was obvious. What will be done next?
In this regard, Li longshuan said that today's high opening and low going was mainly due to the profit selling pressure at the high of 3723 points. No matter from the time period and the range of decline, the adjustment is basically in place.
For the next market of securities companies, Li longshuan believes that it is the first stage to start, because from the fundamentals of the securities industry, the transformation has entered the actual stage. The transformation of big wealth management is to enlarge the transaction volume of the securities market, focus on the future growth space of the industry, and the flexibility of performance will be greater. Follow up can focus on.
Looking forward to the future, Yuan Huaming believes that whether the brokerage sector can continue the recent upward performance depends on several variables. The first is the cross year market development and the judgment of next year's market bull and bear; Secondly, the strength and rhythm of capital market reform next year; Finally, the regulatory authorities' policy support for the merger and reorganization of the securities industry, and the policy strength of business innovation and supervision.
Xia Fengguang, private placement fund manager, believes that the good development momentum of the securities industry has not ended at present. It can be predicted that next year, the industry's profit is still worth looking forward to. Among them, the development opportunities of large securities companies with complete product lines, internet securities companies and securities companies with characteristic advantages are better.
The valuation of securities companies is expected to improve, and the main line of wealth management securities companies are the most favored
Specific to the segmentation target, the next step is the main line of wealth management, and securities companies are the most promising. In addition, traditional head securities companies with outstanding comprehensive strength and brand strength, internet securities companies with advantageous and characteristic services, small and medium-sized securities companies with M & A opportunities, and traditional securities companies with low price to book ratio are also favored.
Looking ahead, Gf Securities Co.Ltd(000776) pointed out that wealth management is a high-quality track with thick snow on Changpo, which can smooth the performance fluctuation of securities companies and reshape the valuation system. It is suggested to pay attention to: first, the platform of card position, East Money Information Co.Ltd(300059) , Hithink Royalflush Information Network Co.Ltd(300033) ; Second, securities companies with outstanding public / private sales ability (holding capacity), such as Citic Securities Company Limited(600030) , China International Capital Corporation Limited(601995) ; Third, securities companies with head asset management companies and great flexibility, such as Orient Securities Company Limited(600958) , China Industrial Securities Co.Ltd(601377) , China Merchants Securities Co.Ltd(600999) .
According to the latest research report of Anxin securities, the Central Economic Council has set a fixed tone and steady growth, stated that it will maintain a reasonable and abundant liquidity, fully implement the reform of the registration system, exceed market expectations, improve liquidity expectations, and under the dual effect of superimposing policy dividends, the valuation of the securities sector is expected to improve. It is recommended that investors pay attention to the investment opportunities of the securities sector, and recommend the main wealth management securities companies such as Gf Securities Co.Ltd(000776) and China Industrial Securities Co.Ltd(601377) Orient Securities Company Limited(600958) , focusing on Citic Securities Company Limited(600030) , East Money Information Co.Ltd(300059) and China International Capital Corporation Limited(601995) H shares.
Yuan Huaming believes that from the internal perspective of the plate, traditional head securities companies with outstanding comprehensive strength and brand strength, internet securities companies with advantageous and characteristic services, and small and medium-sized securities companies with M & A opportunities deserve more attention.
Chen Jiecheng, manager of Fende capital fund, believes that after rising for nearly a year last year, Baima's equity heavy shares continue to adjust this year. Financial stocks are also relatively weak under its influence. The operating revenue and net profit of listed securities companies in the first three quarters of this year increased by 23% year-on-year. The valuation deviated further from the performance, giving birth to large medium and long-term investment opportunities. The financial sector has great opportunities due to undervalued value + certainty of performance growth + preference for foreign capital. It is suggested to lay out traditional securities companies with low price to book ratio. (source: surging News)
(Financial Associated Press)
