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, from the large-scale limit of low-priced stocks to the batch limit of today’s “demon stocks”, it once again shows the advantages of phased low-priced stocks. At the beginning of the easing cycle, continue to pay attention to the allocation opportunities of undervalued blue chips, or a good time to latent and configure the cross-year market.
In the morning, both Shanghai and Shenzhen stock markets opened high and fluctuated after the opening. With the active theme stocks, the gem performed well, while the blue chip heavyweights were low, and the Shanghai index was relatively weak. After yesterday, the two cities ushered in differentiation again, but the whole is still in the process of benign shock. In specific sectors, automobile led the rise, while public utilities, agriculture, forestry, animal husbandry and fishery, national defense and military industry strengthened, while beauty care, real estate, light industry manufacturing, medicine and biology and other sectors fell.
After the opening of the market on that day, a new feature was ushered in, which was the falling limit tide of “demon stocks”. We can see that shortly after the opening today, several stocks such as Guangxi Fenglin Wood Industry Group Co.Ltd(601996) , Lanzhou Ls Heavy Equipment Co.Ltd(603169) , Shaanxi Jinye Science Technology And Education Group Co.Ltd(000812) , Shenzhen Bauing Construction Holding Group Co.Ltd(002047) , Hunan Tyen Machinery Co.Ltd(600698) , Guangdong Jushen Logistics Company Limited(001202) , and Sichuan Zigong Conveying Machine Group Co.Ltd(001288) , Innovation Medical Management Co.Ltd(002173) fell by the limit. For these stocks, they are the subject of recent continuous limit or sharp rise, which is also called “demon stocks” by the market.
The previous rise of these stocks was mainly due to good market sentiment. Under the central bank’s RRR reduction and LPR reduction, the expectation of loose market liquidity was strengthened again, and the trading enthusiasm gradually rebounded. It was easy for strong stocks to get out of the continuous market. However, after continuous rise, the killing and falling of these strong stocks, on the one hand, shows that the short-term market sentiment is falling, on the other hand, it also shows that the demand for short-term high-low switching is increasing. In addition, recalling the general rise on Tuesday and the batch limit of low-end stocks may also indicate that low-end and low-cost stocks are the best market tendency in the current environment.
Back on the disk, after the adjustment since the 13th, with the general rise on Tuesday, this round of adjustment is expected to end temporarily. In this process, the Shanghai index adjusted first, and the heavyweight began to perform when it rebounded. In these two days, with the recovery of the gem, the performance of theme stocks also ushered in after many days of adjustment. The market rose one after another. When the plates rotated, the overall performance was healthy.
Previously, the overall market fundamentals and liquidity were stable. Superimposed on the recent central bank’s RRR reduction and LPR reduction, the overall easing cycle of the market has been opened. The overall listing is conducive to the improvement of the valuation of blue chips and the make-up of low-end stocks. In this case, the recovery of market sentiment will also contribute to the continuous performance of strong stocks. Therefore, the previous performance of strong stocks and the overall stability of blue chips, as well as the repetition of cross theme stocks, constitute a good performance of the recent market structure.
Therefore, with the support of fundamentals, especially the tone of steady growth, with the opening of the easing cycle, the trend of the overall market structure is relatively obvious. Continue to be optimistic about the market in the next year and the first quarter of the next year. In the process of consolidation, it is still a good time for overall allocation.
(Jufeng Finance)
