Double financing balance
As of March 1, the two financial balances of Shanghai Stock Exchange reported 921.36 billion yuan, an increase of 1.305 billion yuan over the previous trading day; The two financial balances of Shenzhen Stock Exchange reported 808409 billion yuan, an increase of 1.304 billion yuan over the previous trading day; The two cities totaled 1729769 billion yuan, an increase of 2.609 billion yuan over the previous trading day.
Latest views
On Tuesday, A-Shares made a good start in March, and the Shanghai index achieved three consecutive positives. As of the closing, the Shanghai stock index rose 0.77%, the Shenzhen Component Index rose 0.24%, the gem index rose 0.16%, the Shanghai and Shenzhen 300 rose 0.83%, the Shanghai Stock Exchange 50 rose 1.46%, and the China Stock Exchange 500 rose 0.30%. The number of gainers in the two cities was 3199, higher than the average value of 2387 last week and higher than 1974 in the previous trading day. The limit was 67, lower than the average value of 77 last week and higher than 58 in the previous trading day. The number of decliners in the two cities was 1380, lower than the average value of 2223 last week and lower than 2594 in the previous trading day. The number of drop limits was 5, lower than the average value of 15 last week and 18 the previous trading day. Northbound funds had a net inflow of 3.277 billion yuan, with an average net outflow of 1.283 billion yuan last week and a net inflow of 2.047 billion yuan the previous trading day. The turnover of the two cities was 969527 billion yuan, with an average value of 106114 billion yuan last week, compared with 949784 billion yuan the previous trading day. The contraction of A-Shares rose, and the Shanghai index returned to the 3500 point area again. At present, the Shanghai index has entered the shock track, and the previous times have failed. However, at the current stage, it seems to have a breakthrough opportunity. In February, the manufacturing purchasing manager index, non manufacturing business activity index and comprehensive PMI output index were 50.2%, 51.6% and 51.2% respectively, and continued to be in the expansion range, It is 0.1, 0.5 and 0.2 percentage points higher than that of last month, indicating that China’s economy continues to maintain a recovery and development trend on the whole, and the prosperity level has increased steadily. The continuously improved economic situation will verify our previous judgment. Whether it is the Fed’s interest rate hike expectation in March or the Russian Ukrainian geopolitical crisis, the current market price has responded, but the steady growth expectation and the wide fiscal and credit policies continue to be implemented, However, it has been ignored by the market. We believe that after the risk appetite stabilizes, the market will have positive feedback.
Topic tracking
Focus today: photovoltaic equipment, pig breeding, tourist hotels
\u3000\u30001. Theme of photovoltaic equipment: on February 28, the State Information Office pointed out at a press conference that it would increase the supply of photovoltaic, fan, energy-saving motor and other equipment, implement the special action for the innovation and development of intelligent photovoltaic industry, and improve the industrial chain of wind power equipment. On February 23, the China photovoltaic industry association mentioned that China’s photovoltaic industry will develop rapidly in 2021, with a new photovoltaic installed capacity of 54.88gw. It is estimated that the new installed capacity of China’s photovoltaic industry will reach 75-90gw in 2022, and the good performance of the photovoltaic industry is expected to continue. According to Reuters, on February 28, the German Ministry of climate and energy proposed a draft legislation: it plans to achieve the goal of 100% renewable power generation by 2035. In the context of “double carbon”, with the continuous introduction of relevant policies, it has a positive impact on the development of photovoltaic industry. Suggested attention: Longi Green Energy Technology Co.Ltd(601012) ( Longi Green Energy Technology Co.Ltd(601012) ), Sungrow Power Supply Co.Ltd(300274) ( Sungrow Power Supply Co.Ltd(300274) )
\u3000\u30002. Pig breeding theme: on February 28, according to the monitoring of the national development and Reform Commission, last week, the national average pig price ratio was 4.98:1, entering the level-1 early warning range of excessive decline determined in the “plan for improving the regulation mechanism of government pork reserves and ensuring supply and price stability in the pork market”. Recently, the national development and Reform Commission said that pig breeding may continue to lose money in the short term, and the breeding end is more resistant to the price reduction, which is expected to speed up the process of de breeding sows. Suggested attention: Shenzhen Kingsino Technology Co.Ltd(002548) ( Shenzhen Kingsino Technology Co.Ltd(002548) ), Hunan New Wellful Co.Ltd(600975) ( Hunan New Wellful Co.Ltd(600975) ) 3 Theme of Tourist Hotels: on February 18, the national development and Reform Commission and the Ministry of culture and tourism jointly issued several policies on promoting the recovery and development of difficult industries in the service industry. The policy puts forward seven solutions to the current difficulties of tourism. Increased targeted measures and precise assistance will provide strong support for the majority of tourism enterprises to tide over the difficulties at this stage and resume development as soon as possible. On January 20, the State Council issued the tourism development plan of the 14th five year plan, which proposed to innovate and improve China’s tourism under the condition of normalization of epidemic prevention and control, timely start the promotion action of inbound tourism, issue the support policy for inbound tourism development, and take effective measures to promote the high-quality development of inbound tourism. Under the guidance of policies and plans, it will have a positive impact on Tourism in 2022. It is suggested to pay attention to: Caissa Tosun Development Co.Ltd(000796) ( Caissa Tosun Development Co.Ltd(000796) ), Tibet Tourism Co.Ltd(600749) ( Tibet Tourism Co.Ltd(600749) ).
Risk tips
The epidemic has not been effectively controlled, the macro economy has unexpectedly declined, the liquidity crunch has intensified, and the industrial policies are lower than expected.
