panel overview
On Monday, A-Shares opened low and went low. The gem fell by more than 4%, a new low in this round of adjustment. The Shanghai Composite Index fell 3400 points, and the trading volume of the two cities exceeded trillion. On the disk, precious metals, household light industry, chemical fertilizer, education, medicine and commerce, jewelry and other industries have bucked the trend; Airports, batteries, wine making, semiconductors, automobiles, tourist hotels, shipping ports, electronic components, wind power, photovoltaic, consumer electronics, insurance, etc. led the decline. In terms of theme stocks, the concept of baby and child, pet economy, gold concept, medical beauty, assisted reproduction and covid-19 treatment led the increase, while 3D camera, Hongmeng concept, lidar, super brand, solid-state battery, online tourism, auto chip, Eastern digital computing and Western computing, beer concept led the decline.
message surface
government work report: GDP target to increase by about 5.5% this year
The government work report puts forward that the main expected development goals for this year are: China's GDP will grow by about 5.5%; More than 11 million new jobs were created in cities and towns, and the urban survey unemployment rate was controlled within 5.5% throughout the year; Consumer prices rose by about 3%; The growth of residents' income basically kept pace with economic growth.
fully implement the registration system: the foundation has been laid to improve the maturity of the capital market
The government work report pointed out that we should promote the reform of the fiscal, taxation and financial system. Strengthen and improve financial supervision. We will deepen the reform of the ownership structure and corporate governance of small and medium-sized banks and speed up the disposal of non-performing assets. We will improve the bond financing support mechanism for private enterprises, fully implement the stock issuance registration system, and promote the steady and healthy development of the capital market. This is the first time that the "full implementation of the stock issuance registration system" has appeared in the government work report.
China commodity futures opened early, and crude oil, asphalt and fuel oil rose by the limit
On March 7, China's commodity futures opened in the morning, led by energy and chemical industry. Crude oil, asphalt and fuel oil rose by the limit, coking coal and Shanghai nickel rose by more than 3%, Zheng coal and coke rose by more than 2%, Shanghai copper and soda ash rose by more than 1%, and staple fiber and Zheng oil rose slightly; A few varieties such as palm and rubber fell.
Jufeng viewpoint
It is expected that the government will promote the development of child-bearing funds and accelerate the development of child-bearing funds. It is expected that the government will promote the development of child-bearing funds in a positive way this year.
In fact, the three major A-share indexes collectively opened low, with the Shanghai index opening and falling 0.26%, the Shenzhen Composite Index opening and falling 0.69%, the gem index opening and falling 1.10%, and the oil and gas, coal, gold and the three child concept opening high.
After the opening, the trade concept between China and Russia was divided, and Contemporary Amperex Technology Co.Limited(300750) hit a new low in half a year, driving the gem to fall out of a new low in the year. Battery, semiconductor, photovoltaic, wind power, game, automobile and consumer electronics led the decline; The concepts of baby and child, chemical fertilizer and gold are rising all the way. The coal sector that surged 3% higher in early trading turned green! The ebb tide of the oil and gas sector that rose sharply at the opening was obvious from the disk view, the pressure of market selling is not small
In the afternoon, the stock index continued to decline, the Contemporary Amperex Technology Co.Limited(300750) decline expanded to more than 7%, the Shenzhen composite index fell more than 3%, and the gem fell 4%. In addition, financial stocks did not have the strength to protect the market. The China International Capital Corporation Limited(601995) ban is about to be lifted. Today, it fell 7%, becoming one of the leading forces of short selling in the market drawing on the market trend of the past two sessions, it is suggested to pull up stocks in the session to grasp the opportunity of high selling
investment suggestions:
Jufeng investment adviser believes that the central bank has continuously reduced reserve requirements and interest rates since December last year to release liquidity, indicating that the policy bottom has appeared; However, the construction of the market bottom is more complex and there is a time lag between the market bottom and the policy bottom, so the trend of A-Shares has twists and turns. After the Spring Festival, the liquidity of the market improved, and A-Shares began to oversold and rebound. The value and growth rose one after another, but the sustainability was not strong. Be careful not to chase up. The time has entered the window period of the two sessions. The probability of A-share building the bottom box is high, which will be a good opportunity for high selling and low absorption; The medium-term proposal takes growth as the main line, and individual stocks with higher than expected growth in the annual report and the first quarter report can continue to participate in the rebound.
