Viewpoint: according to the latest PMI data, the economy has rebounded, but on the whole, it is still anti pumping, and the downward pressure is still large. However, with the support of relatively stable fundamentals and liquidity, the market as a whole maintained a good foundation. With the inflation peaking expectation strengthened and the RRR reduction expectation landed, the expectation of monetary easing increased again, bringing an overall boost to the market. Under the expectation of monetary and credit easing in the coming year, the market is also expected to gradually open a good trend. In the short term, under the influence of regulatory crackdown on fake foreign capital and its continuous outflow, the index once fell. However, with the stabilization of the market and the return of foreign capital today, it is expected that the short-term rebound of the index will continue. If the capital side continues to improve, there may be momentum to continue to rise.
Today, both Shanghai and Shenzhen stock markets opened high and fluctuated after the opening. Under the slight consolidation of heavyweights, the performance of the Shanghai index is flat, while the overall strength of subject stocks, the trend of gem and Shenzhen composite index is strong. In the afternoon, the three indexes suddenly rose after finishing, all up and down, continuing the upward trend since the day before yesterday. In terms of specific sectors, public utilities led the rise today, coal, agriculture, forestry, animal husbandry and fishery, food and beverage strengthened, and automobile and other sectors turned red. Real estate, social services, light industry manufacturing, media and other sectors fell.
In addition, today, A-Shares as a whole ushered in a continuous recovery, and there are still obvious characteristics in the process of recovery. For example, the previously strong sectors continued to adjust, such as media and real estate, and many “demon stocks” also stopped after rising sharply. At the same time, the market rotation effect began to appear. Although there was no core hot plate, the overall performance was relatively healthy and stable.
In addition, after the continuous net outflow since last Friday, foreign capital ushered in good news today. The net inflow of the whole day once exceeded 2 billion and ushered in a “comeback”, which has a certain boost of confidence in the market. You know, in addition to other factors, the regulator’s attack on Canadian foreign investment is also an important restraint in the previous adjustment of the index. The current return of foreign capital may mean that the impact of short-term fake foreign capital flight on the market has come to an end. Once foreign capital returns to calm, it will still have a positive impact on the market.
All day long, the Baijiu plate has been lifted up to the market, and Baijiu is also one of the most important sectors of foreign investment. It is expected that the short-term return will be more obvious if the whole North refunds the whole day. With the continuous recovery of the market and the return of northward funds, the index may continue to rebound. Once the mood is boosted again, it is not ruled out that there is the possibility of rapid rise.
In short, with the policy of steady growth, we continue to be optimistic about the market in the next year and the first quarter of next year. In the recent consolidation process, investors can still consider bargain hunting for appropriate allocation. In terms of specific opportunities, it is suggested to explore from three angles: first, the “steady growth” or phased main line from the policy perspective, and the involved sectors can track building materials, construction machinery, food and beverage and household appliances; Secondly, it can also be superimposed with varieties with high attention to funds in the north, such as financial and other value blue chips, in which it can focus on the securities sector with undervalued value and good performance; Third, science and technology and new energy are mainly varieties with relatively uncertain growth under the downward pressure of the economy.
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(Jufeng Finance)
