Market review: the trend of Shanghai and Shenzhen index is divided, led by the media sector
Today, the trend of the two cities was divided. As of the close, the Shanghai index fell 0.07% to 3622.62 and the Shenzhen index rose 0.70% to 14791.33. In terms of sectors, media, electronics, agriculture, forestry, animal husbandry and fishery led the increase, while real estate, architectural decoration and steel led the decline. The turnover of the two cities was 1062.47 billion yuan, an increase of 6.21% over the previous trading day and a contraction of 4.59% over the average of the previous five days. The net sales of Shanghai Stock connect were 1.706 billion yuan, Shenzhen Stock connect were 38.51 million yuan, and the actual net sales of northbound funds throughout the day were 1.745 billion yuan.
Market focus:
Recently, according to the data of the Ministry of Commerce, in the first 11 months of this year, the actual amount of foreign investment in China exceeded trillion yuan, more than that of last year. The bright achievements confirm that the continuous improvement of China’s economy, the continuous opening of China’s market and the increasingly perfect business environment are not only the reasons for China’s increasing attraction to foreign investment, but also the foundation for us to face the future risks and challenges.
Strategy suggestion: focus on the required consumption
Today, the trend of Shanghai and Shenzhen index is divided. The Shanghai index maintained a narrow shock throughout the day and closed down slightly at the end of the day. The Shenzhen index fluctuated higher throughout the day, and the market turnover has not improved significantly. The northward capital outflow has been net for four consecutive days, the trading activity has decreased, and the wait-and-see mood has increased. We believe that the recent continuous outflow of northbound funds is mainly due to the joint influence of overseas interest rate increase signals and restrictions on “fake foreign capital”. In the medium and long term, the pattern of foreign capital entering the market remains unchanged. Under the background of relatively stable fundamentals, the attraction of China’s A-share market continues to strengthen after the epidemic. At the same time, with the reform and opening up, it has entered the “deep water area” of institutional opening up, In the process of gradually building capital market rules in line with the international market, China is expected to continue to dredge the pain points and blocking points for foreign capital entering the market, and the volume of A-share market is expected to continue to expand. In terms of the research and judgment of the general trend of a shares, there has been a correction in the A-share market recently, and the trading activity has decreased significantly, or it is mostly caused by the cold market sentiment driven by changes in fundamentals at home and abroad. In general, under the downward expectation of profits, the overall trend upward momentum of A-Shares is insufficient, but structural opportunities still exist. It is suggested to focus on the required consumption with strong risk aversion attribute The policy supports the promising opportunities in the field of new energy vehicles and medium and high-end manufacturing with strong industrial logic support.
In terms of sectors, today’s media sector led the rise, with strong performance in concepts such as family entertainment, online Red economy and cultural media. We believe that the achievement driven by events such as “new year” and “new year” at the end of the year may drive the continued popularity of relevant themes, but we still need to pay attention to the impact of the epidemic. At the same time, the media sector will keep up with the rapid rotation, and the hot “Yuan universe” will continue to be hyped up in the market game sentiment. We emphasize once again that in the short term, the technology bubble is not new in the capital market. The concept of “Yuan universe” has a strong long-term trend toward good trend, and the industry has broad prospects for development, but at the current time, The valuation of some objects may have seriously deviated from the reasonable level, so it is recommended to be cautious.
Risk tip: the macro-economy is less than expected, the national epidemic situation is more than expected, and the geopolitical risk is intensified.
（ Shanxi Securities Co.Ltd(002500) ）
