Last week, the consumer and medical sectors strengthened, real estate stocks recovered, and new energy stocks weakened. Near the end of the year, the market of "drinking and taking medicine" took turns, but the strong plate in the early stage adjusted. Which sectors will dominate the Spring Festival market? Fund institutions believe that the plate rotation will continue. The mainstream track of the A-share market remains unchanged, and investors still need to focus on these areas.
"the market environment will be more friendly next year"
Last week, the market was in a state of shock repair. Consumption and medical sectors strengthened. In terms of the rise and fall on the 5th, agriculture, forestry, animal husbandry and fishery led the increase, up to 6.49%, and food and beverage, building materials, commercial retail, home appliances and real estate all increased by more than 1%. Power equipment and new energy callback, down more than 6%. Non ferrous metals, comprehensive finance, iron and steel, basic chemicals and machinery all fell by more than 3%.
The rotation rhythm of the above plates is obviously accelerated. While "you sing and I come on stage", the opportunities of many plates are "no hundred days of prosperity", the investment opportunities are fleeting, and it is more difficult for investors to pursue. "The end of the year is generally a time when market funds are active, but under the market environment of structural differentiation this year, the rotation at the end of the year is relatively intense, and the hot plates in the early stage are under great pressure." A fund manager commented.
Looking forward to next year, Lu Bin, research director and fund manager of HSBC Jinxin, believes that the stock market in 2022 is expected to be more "friendly" than that in 2021. "At the end of last year and the beginning of this year, I was more concerned about the upward expectation of inflation brought by the upward economy, which led to the change of liquidity policy. At present, there is a certain pressure on the economy, and the next policy may release warmth. Under this background, we can make higher assumptions about future liquidity and macro policies. In addition, we have always used risk premium to describe A-Shares The valuation level of the market. The current valuation level has returned to the central position. Whether from the perspective of valuation or macro and policy liquidity, the external environment next year will be more friendly than this year. " Lu Bin said.
there are many "fans" in the popular section
The hot track is still the direction of the fund's focus on gold mining. China Merchants Fund pointed out that for some time to come, the high boom sector will still be an important source of structural opportunities.
Specifically, for the new energy industry, Huaxia Fund believes that the new energy vehicle sector is still the best choice for investment next year, and will usher in a better opportunity to get on the bus again after adjustment. Next year will be a year of demand release, and the penetration rate of new energy vehicles will increase. Photovoltaic, energy storage and power grid materials all grow rapidly, and the shortage of supply is difficult to alleviate in the short term. It is good for the leading enterprises with strong price transmission ability and the subdivided high-quality second-line enterprises that divert the market share of some leading enterprises with technological progress.
For the pharmaceutical sector, Hu Jie, fund manager of Huabao fund, pointed out that based on the long-term prosperity, there is no need to worry too much, but the short-term adjustment has the impact of policy and capital preference. From the market trend of the medical sector, it has the characteristics of high volatility and high elasticity.
Wu Yue, director of the Baijiu fund research group, said that next year, it will welcome the structural reversal of consumption assets. It may constitute a new round of growth in the growth of non liquor and demand consumption.
Wu Yue said that consumption next year should be a big year. It is not ruled out that consumption in a certain time window will have very sharp performance returns, which will become the most important investment clue in the market. In addition, Baijiu liquor may be a differentiated market next year, and it will be more optimistic about food and consumption.
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(China Securities Journal)
