Macro view:
1. The two sessions deliver more positive and optimistic economic expectations, and the strength of investment may exceed expectations.
2. The economy of the United States and China has recovered well, and the recovery of capital expenditure and service industry are the main driving forces for the economic upward trend, which has a positive impact on China’s exports.
3. The Russian Ukrainian war impacted the global economy, and the inflation driving force dominated by energy prices increased. However, China can better control energy prices, which makes China have a comparative advantage in profit growth in the world under the background of steady growth.
Market view:
1. The expectation of steady growth rises, and the time window for the index to stabilize and recover opens.
2. The growth sector has entered the period of strategic layout. It needs to rebound in the short term, with appropriate cost performance in the medium term and benefiting from the slowdown of economic growth in the long term.
Optimistic about the sector:
1. Be optimistic about building materials, household appliances, new energy, automotive intelligence, semiconductor materials, military industry, coal, real estate leaders of central enterprises, food and beverage.
2. Be optimistic about CSI 300, Hong Kong stock Internet technology index and Nasdaq 100 index.
Market resumption: the stable style rose this week, and the financial and growth style were slightly adjusted. Most of the Shenwan level industries fell, with coal, transportation, agriculture, forestry, animal husbandry and fishery leading the increase, and automobile, electronics and power equipment leading the decline.
Index performance: the main indexes fell this week, led by the gem. The Shanghai Composite Index, CSI 500, Shanghai 50, all a, CSI 300, Kechuang 50 and gem index fell by 0.11%, 0.23%, 0.43%, 1.27%, 1.68%, 3.05% and 3.75% respectively.
Large and medium-sized sectors are undervalued, while small and medium-sized sectors are undervalued. This week, large cap stocks, medium cap stocks and small cap stocks fell by 1.09%, 0.66% and 0.10% respectively. In the valuation sector, the overvalued sector and the medium valuation sector fell by 2.17% and 2.29% respectively, while the undervalued sector rose by 1.28%.
