The government work report submitted for deliberation on the 5th further clarified the importance of “steady growth”. Industry insiders said that from the perspective of investment, “steady growth” releases a clear signal, and the relevant measures are further clarified, which is worth looking forward to. It is expected that the A-share market will gradually heat up in late March, and individual stocks related to scientific and technological growth are expected to become the main line of the market again in the second quarter.
steady growth measures are expected to be launched
Reviewing the overall market of A-Shares in the past week (February 28 to March 4), “steady growth” is expected to rise, driving the strength of relevant blue chips against the trend.
From the perspective of macro policies, the government work report made it clear that “steady growth should be placed in a more prominent position” Citic Securities Company Limited(600030) chief strategist Qin Peijing believes that the government work report involves more fiscal policies than in previous years. In addition, it has also launched a number of measures in the fields of consumption, investment and foreign trade, reflecting the characteristics of the comprehensive spread of this round of steady growth policies.
Lin rongxiong, chief strategic analyst of Anxin securities, believes that the further clarification and implementation of steady growth measures is worth looking forward to.
From the performance of the subdivided sectors, among the 31 Shenwan industries, the sectors benefiting from the “steady growth” policy, such as banking and architectural decoration, have led the year to date increase, and the coal sector has achieved an increase of nearly 20%. For the “steady growth” market in the future, Chen Guo, chief strategy officer of China Securities Co.Ltd(601066) securities, believes that the probability of traditional infrastructure has entered the expected cash stage.
market is expected to strengthen
Looking forward to the market of A-Shares in March, China Industrial Securities Co.Ltd(601377) chief strategist Zhang Qiyao believes that the valuation of “steady growth” sectors such as real estate, infrastructure and banking is expected to continue to be repaired. After the rebound of individual stocks related to scientific and technological growth, we need to wait for the verification of more profit signals. The main line in the second quarter may be biased towards the scientific and technological growth sector again. Subsequently, the release of new energy vehicle sales and other data will become an important signal for the confirmation of prosperity.
Haitong Securities Company Limited(600837) chief strategist Xun Yugen said that considering the Fed’s expectation of raising interest rates and the gradual weakening of the negative impact brought by external factors, the market is expected to turn from weak to strong after the superposition of steady growth policies. The spring Market A-share style is expected to switch from value to growth.
Actively layout “steady growth”
For the future allocation direction, Gf Securities Co.Ltd(000776) chief strategist Dai Kang believes that it is recommended to pay attention to the coal, aluminum and potash related stocks benefiting from the logic of “supply and demand gap”, the real estate, building materials and coal chemical related stocks with the intersection of “steady growth” and “double carbon new cycle”, as well as the technology stocks acceptable to peg such as photovoltaic and digital economy.
Qin Peijing suggested that we should continue to follow the main line of “stable growth” and focus on the active layout of “two low positions”. Among them, the varieties whose fundamentals are expected to be relatively low include automobiles and parts, photovoltaic wind power equipment, aviation, hotels, etc; The varieties with relatively low valuation include high-quality real estate developers, building materials and household enterprises, smart grids and energy storage in the field of new infrastructure, data centers and cloud infrastructure benefiting from “counting from the East and counting from the west”.
Considering that the market will pay more attention to the performance of the first quarter report in March, Lin rongxiong believes that the segments that can be concerned include cyclical products (potash fertilizer, shipping, coking coal, lead and zinc), new energy (lithium, cobalt, Cecep Solar Energy Co.Ltd(000591) ), medical services (CXO) and manufacturing (motor, electronic parts, machine tool equipment), etc.
