On March 9, Pengyang Fund released the market view that multiple factors led to the sharp decline in the session today, but the current valuation of the main indexes has been in a reasonably low position. Looking forward to the future market, the oversold rebound may come at any time. You can pay attention to the direction of domestic demand and individual stocks with high certainty of fundamental growth.
According to the calculation of Pengyang fund, as of the closing of the 9th, based on the weighted calculation of the current constituent stocks, the PE valuation of the CSI 300 index and the CSI 500 index has reached the historical quantile of 30% – 35%, the gem index is around the quantile of 35% – 40%, and the valuation of the main indexes has been in a reasonably low position.
Looking forward to the future, Pengyang Fund believes that stabilizing market sentiment requires more realization of the effect of stable growth policies and the elimination of overseas uncertainty. In terms of investment strategy, we can pay attention to the direction of domestic demand and stocks with high certainty of fundamental growth. We need to guard against the risk of rising costs in the midstream manufacturing industry caused by rising upstream costs and the risk that overseas demand is less than expected. In addition to the oversold rebound that may come at any time in the short term, the rebound window of high-quality enterprises in the first quarter is also worth looking forward to.
