Yesterday, the market continued to fall, and the three major indexes hit a new low in the year. The turnover of Shanghai and Shenzhen stock markets was 1109.9 billion, up from 95.3 billion on the previous trading day. In terms of sectors, only the three sectors of counting from the east to the west, precious metals and Semiconductor Manufacturing International Corporation(688981) concept rose, while covid-19 treatment, assisted reproduction, traditional Chinese medicine, planting and forestry, lithium extraction from Salt Lake and other sectors led the decline. As of yesterday’s close, the Shanghai index fell 2.35%, the Shenzhen composite index fell 2.62% and the gem index fell 1.8%. Northbound funds sold a net 8.699 billion yuan throughout the day, including 3.151 billion yuan for Shanghai Stock connect and 5.548 billion yuan for Shenzhen Stock connect.
Overnight, the three major US stock indexes collectively closed down, with the Dow down 0.57%, the S & P 500 down 0.73% and the NASDAQ down 0.28%. Steel stocks and pharmaceutical stocks led the decline. Aviation stocks and energy stocks rose sharply, while American Airlines and Southwest Airlines rose more than 5%. Most popular Chinese concept stocks fell, Didi fell by more than 11%, ideal car fell by more than 5%, Xiaopeng car fell by more than 4%, BiliBili and Jingdong fell by more than 3%; Pinduoduo rose more than 3%, vipshop rose more than 2%.
At the morning meeting of securities companies today, Guotai Junan Securities Co.Ltd(601211) said that it was expected that the global coal price would still rise and remain strong, supporting China’s price China Securities Co.Ltd(601066) pointed out that bulk commodities may usher in a bull market Shanxi Securities Co.Ltd(002500) believes that we should grasp the industrial logic and stick to the high-quality target.
Guotai Junan Securities Co.Ltd(601211) : global coal prices are expected to rise and remain strong, supporting Chinese prices
Guotai Junan Securities Co.Ltd(601211) research report said that the conflict between Russia and Ukraine continues, and it is expected that the global coal price will still rise and remain strong, supporting China’s price. With the intensification of the conflict between Russia and Ukraine, the global price of fossil energy has accelerated, the oil price is approaching us $120 / barrel, and the coal price in Newcastle, Australia has reached nearly US $270 / ton, breaking the high point in 2021. In recent years, with the continuous adjustment of power supply structure in Europe, the enhanced substitution efficiency of gas turbine and coal power, the rise of natural gas price and insufficient supply, Germany, Italy and other European countries said they might restart coal power, and the substitution effect will further enhance the global demand for coal. Due to the long-term low global coal capital expenditure and the steep global supply curve of fossil energy, it is expected that the global coal price will still rise and remain strong, further supporting China’s price.
China Securities Co.Ltd(601066) : commodities may usher in a bull market
China Securities Co.Ltd(601066) said that in the post epidemic era, major economies in the world continued to recover and the demand for bulk commodities continued to be strong; Superimposed on the continuous escalation of the conflict between Russia and Ukraine, all kinds of supplies may be impacted, and bulk commodities may usher in a bull market, with a high outlook or transfer to the supply chain. Referring to the historical trend, the share price of commodity traders tends to be the same as that of commodities. It is suggested to pay attention to Wuchan Zhongda Group Co.Ltd(600704) .
Shanxi Securities Co.Ltd(002500) : grasp the industrial logic and stick to the high-quality target
Shanxi Securities Co.Ltd(002500) said that in general, the sentiment of the A-share market has deteriorated significantly this week, and the two cities have closed down in large quantities for two consecutive days, which may have caused some panic. However, the abortion of Russia Ukraine negotiations once again exacerbated the volatility of the external market, weakening the “safe haven” role of the Chinese market. Under the background of weak sentiment, the A-share market may be more vulnerable to the impact of the external market in the short term, Re emphasize maintaining relative caution in configuration. At the same time, there are some structural opportunities in the shock. Today, the semiconductor sector is stronger against the market, and the concept of “counting from the east to the west” also performs better, reflecting the logical support of the industrial boom, especially the support of relevant sectors. We suggest that in the adjustment of market shocks, we should grasp the two main lines of the guidance of meso industrial policy and the restoration of the prosperity of the oversold sector, stick to the high-quality target and wait for the opportunity to counterattack.
