Citic Securities Company Limited(600030) the research report believes that the market game will intensify at the end of the year, and the “high cut low” transaction will enter the midfield, and the high-quality blue chip will be better and better in the beginning of the year. It is suggested to focus on the two main lines and layout the “three low positions”. First of all, the relay of the steady growth policy is in progress, and it still takes time to form a joint force. It is expected that the data in the fourth quarter will show an obvious repair trend of China’s economy. The data in the first quarter of next year will fully reflect the effect of the policy joint force, and market confidence will be repaired quickly. Secondly, at the end of the year, both the admission of incremental funds and the transfer of stock funds will reflect the characteristics of water flowing to the low, “cutting high to low” is still the trading direction with the least resistance, and the cross-year market style is still obviously biased towards the market and low-level blue chip repair. Finally, the “good start” of bank credit at the beginning of the year may exceed expectations, which will confirm the trend of credit cycle repair; The new “good start” of public offering makes the market more liquid. It is expected that the high-quality blue chip market of A-Shares will be getting better and better at the beginning of 2022. It is suggested to closely follow the two main lines of the landing of stable growth policy and the recovery of consumption price, and firmly focus on the “three low points” for the cross-year layout of blue chip varieties.
(Securities Times)
