Looking back on Wednesday’s A-share market, Shanghai and Shenzhen stock markets showed a shock adjustment pattern as a whole. A-Shares rose and fell at the opening, and then the three major stock indexes fell unanimously. The Shanghai index fell below 3600 points, and the gem index and Shenzhen composite index fell more violently. There was no sign of counterattack in the session, showing a pulse downward pattern all day.
As mentioned in Soochow Securities Co.Ltd(601555) , the performance of the index at the end of the year is poor, the downward trend of gem and science and innovation board has not changed, and the shock pattern of Shanghai Stock Exchange is not strong. It is still recommended to participate cautiously in the near future. However, the new energy that has been adjusted ahead of time and the green electricity that has been doing well in the near future can still be properly laid out. Besides, ‘s policy of agricultural stocks especially seed industry is expected to be better next year, and , which is more active at the bottom, can be properly paid attention to.
Technically, Dongguan Securities said that the index fluctuated and corrected on Wednesday, and the Shanghai index temporarily lost 3600 points. Near the end of the year, institutions have a strong desire to adjust positions, and the volume of the two cities can fall below trillion. However, at present, the fundamentals are stable, the policies are gradually implemented, and the small net inflow of funds from the North has boosted market confidence, it is expected that the market is expected to strengthen in repeated shocks, and pay attention to the change of volume and energy and the rotation of plates . In terms of operation, it is recommended to pay attention to finance, food and beverage, household appliances, building materials, TMT and other industries.
Huaxin securities mentioned that the core of Wednesday’s decline came from the weakening of the resonance of banks and Baijiu, and we believe that the probability is a category that will fall. in terms of short cycle, the market does not have the basis for continuous decline . Multi cycle indicators show obvious signs of stopping the decline. For investors, we think should have reverse investment thinking .
As for the future market, Haitong Securities Company Limited(600837) pointed out that near the end of the year, all parties in the market are more cautious, and new hot spots in the coming year are brewing . Therefore, there is no need to worry too much about the short-term correction. Under the background of stable growth and the surrounding loose cycle, the market as a whole still has the basis for support and boost. The layout and mining of can be carried out from three angles: first, it can track construction machinery, household appliances and food and beverage from the perspective of stable policy growth; second, it can pay attention to financial and value blue chips with high attention to capital in the north; third, science and technology and new energy with relatively determined growth.
In addition, Guosheng Securities said that at the end of the year, the market funds were tight, the institutional position adjustment was positive, the switching rhythm of market themes was obvious, and the short-term market contraction was sorted out. Near the short-term defensive position of the Shanghai index, the stock index’s large volume to 500 billion yuan was taken as a long signal, the themes in line with the policy direction were appropriately arranged at low prices, and the game had a “good start” after the festival, focusing on Rural Revitalization, environmental protection Pension, medical and other low-level directions, pay attention to the low absorption opportunities of stocks with good annual performance expectations .
Central China Securities Co.Ltd(601375) believes that investors have a heavy wait-and-see mood with money, and the characteristics of stock game are significant . At the end of the year, investors still need to guard against the possible risks of large market value varieties with large cumulative increase. It is suggested to continue to pay attention to the changes in policy, capital and external market. It is expected that the short-term inertia of the Shanghai index is more likely to go down, and the short-term slight decline of the gem is more likely. It is suggested that investors should wait and see for a short time, and the middle line should continue to pay attention to the investment opportunities of undervalued blue chips.
In the macro aspect, China International Capital Corporation Limited(601995) pointed out that the central economic work conference held in the early stage released a more positive policy attitude, and the recent measures such as the central bank’s LPR reduction also sent a relatively clear easing signal. Combined with the above environment, we believe that although the recent performance of market is slightly depressed, there is no need to be too pessimistic . From historical experience, the market tends to gradually turn positive in the period of more clear policy implementation or significant improvement of forward-looking indicators. The agency believes that the short-term “stable growth” policy is expected to be gradually implemented in the future. In the medium term, the cycle of growth and policies at home and abroad will be reversed again in 2022, with valuation and liquidity support, industrial upgrading and other structural trends expected to support market performance.
In terms of operation strategy, Everbright Securities Company Limited(601788) mentioned that the differentiation of A-Shares is obvious. Hot plates such as hydrogen energy, auto parts, UHV, energy storage, metauniverse and lithium battery come one after another, which can grasp the rotation opportunities between plates. it is suggested to focus on small cap state-owned stocks with valuation advantages in the short term, and temporarily avoid three high-level stocks such as high, overvalued and high prices at the end of the year. It is suggested to focus on technology stocks such as intelligent driving and chips with large growth space in the middle line .
In addition, Caixin Securities pointed out that the A-share market is optimistic about the following four sectors in turn: (1) the sector with booming production and marketing . In the next 1-3 quarters, the performance improvement expectations from strong to weak are: national defense and military industry, household appliances, transportation, communication and computer; (2) new energy and other track stocks . In 2022, new energy track stocks still have the opportunity to obtain excess returns, but it is expected that the differentiation will intensify, the stocks with proven performance will still grow high, and the stocks with false performance will be corrected; (3) downstream consumption sector . The scissors gap between China’s PPI and CPI is at an all-time high. It is expected that the convergence period of this round of ppi-cpi will continue from November 2021 to August 2022. The consumer sector will probably achieve excess returns in the first half of 2022. We can pay attention to the food, beverage and household appliance industries; (4) epidemic damaged plate . In 2022, as the global epidemic is gradually controlled, there is a momentum for valuation and repair in the epidemic damaged plate, which can be paid attention to: aviation, airport, tourism, hotel, cinema, etc.
