In early trading today, the three major A-share indexes opened low, followed by a low shock, with a collective intraday decline of more than 2%; In the afternoon, the index recovered and turned red, and the gem index rose by more than 1%. As of today's close, the Shanghai index reported 330975 points, up 0.41%, with a turnover of 458687 billion yuan; The Shenzhen composite index reported 1244737 points, up 0.62%, with a turnover of 591465 billion yuan; The gem index reported 266546 points, up 1.15%, with a turnover of 247013 billion yuan. Nearly 3000 shares in the two cities rose. The net outflow of funds from the North was 5.042 billion yuan, and the net outflow of main funds was 18.496 billion yuan.
On the disk, covid-19 testing, medical devices and Shenzhen Agricultural Products Group Co.Ltd(000061) processing sectors led the gains, while oil and gas exploitation, precious metals and green electricity sectors led the declines.
covid-19 concept stocks rose sharply
On the disk, covid-19 concept stock index rose by more than 6%, and several stocks rose by 20cm limit Shanghai Labway Clinical Laboratory Co.Ltd(301060) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Andon Health Co.Ltd(002432) , Wuhan Easy Diagnosis Biomedicine Co.Ltd(002932) 10% limit.
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In addition, covid-19 has an active drug concept, with China Meheco Group Co.Ltd(600056) , Shijiazhuang Yiling Pharmaceutical Co.Ltd(002603) , Jiangsu Sinopep-Allsino Biopharmaceutical Co.Ltd(688076) , Jinghua Pharmaceutical Group Co.Ltd(002349) limit.
brokerage stocks rose sharply
Brokerage stocks rose sharply in the afternoon. As of press time, the index rose by 2.88%, and Boc International (China) Co.Ltd(601696) , Chinalin Securities Co.Ltd(002945) , China International Capital Corporation Limited(601995) and Zhongtai Securities Co.Ltd(600918) , Guosheng Jinke, Shanxi Securities Co.Ltd(002500) , Hongta Securities Co.Ltd(601236) , Tianfeng Securities Co.Ltd(601162) , etc. rose by more than 4%. According to wind data, the main force significantly increased its positions in securities companies at the end of the trading, among which China International Capital Corporation Limited(601995) , Chinalin Securities Co.Ltd(002945) received a net inflow of more than 200 million yuan, and Boc International (China) Co.Ltd(601696) , Gf Securities Co.Ltd(000776) , Citic Securities Company Limited(600030) , Orient Securities Company Limited(600958) all received more than 100 million yuan.
Guotai Junan Securities Co.Ltd(601211) believes that institutional business is the main line of securities companies' investment in 2022. The decline in the income of some equity funds has changed the way the market allocates standardized financial assets to retail customers, and residents' preference for the certainty of the yield of financial products has increased, which will make the future more diversified asset management products and more products that securities companies can provide services, This will bring more opportunities for institutional business development.
institutional view: falling down is worth cherishing
For the recent market trend, Guosheng Securities pointed out that the recent disk trend may be similar to that at the end of July last year. It is a short-term rapid and large-scale decline, leaving a long shadow line and a bottom rebound. At present, this position is that we can't shrink and fall, and we can't see a turnaround until the large-scale decline breaks out of panic. Gem refers to the end of the adjustment of the five waves of decline in the downward channel. The current market decline is mainly due to international contradictions and inflation expectations, and more is the venting of emotions; With the government's determination to stabilize growth, monetary and credit policies will remain moderate in the future. At present, the Shanghai composite index is near 3300, and the corresponding PE is only 12 times. The valuation advantage is very obvious. From a rational point of view, the negative in essence is limited. There is a demand for covering the gap formed on Thursday, and the gem index is also suppressed by the 60 minute mA20 average. It is suggested to pay attention to position control, pay attention to the strength of market pullback in the short term, pay attention to large infrastructure sectors related to the main line of steady growth, track repair opportunities such as photovoltaic and green power, and the short-term active covid-19 concept.
Galaxy Securities said that in terms of capital, since the beginning of the year, the number of new funds has decreased month by month, and the northward funds have shown a net inflow trend as a whole. The incremental funds in the stock market may tighten month on month in 2022, but the net inflow trend has been maintained as a whole; In terms of profitability, the growth rate of all a profits in the second half of 2022 may enter the stage of stabilization and recovery. The marginal easing of the money credit cycle is expected to alleviate the cost pressure of small and medium-sized enterprises, and the gradual recovery of the demand side is expected to improve enterprise orders. At the same time, the improvement of the economy will also drive the recovery of enterprise profits; In terms of valuation, the overall bubble of A shares has been squeezed, valuations continue to digest, and the total A valuation is currently in a relatively low historical position. In 2022, valuations were in the lower historical sub sectors of electronic, pharmaceutical and biological sectors, or the momentum of valuation uplift.
With the first half of the annual report and the first half of the annual report, it is still pointed out that the market is still close to the first half of the year. In terms of industry configuration, with the advent of the verification period of the first quarterly report, the boom track leaders such as new energy, semiconductors, medicine and military industry are expected to usher in phased repair, and the essential consumption sectors such as agriculture, food and textile and clothing benefiting from inflation expectations are also expected to usher in performance repair. In the medium term, social service, retail, catering, shipping and other offline economic recovery related industries are also ushering in the layout window period.
Haitong Securities Company Limited(600837) think that from the perspective of lengthening the time axis, falling down is worth cherishing. Historical data show that the average increase in two years after the decline of CSI 300 by 25% is 8%. If the fixed investment increases by 14%, it will be 29% and 26% respectively after the decline of 30%. Another historical data shows that the average increase in the stock fund index is 15% in two years after it falls by 15%. If the fixed investment increases by 23%, it will be 70% and 47% respectively after it falls by 20%. In addition, the time and space of this market adjustment has been very obvious. The largest decline of CSI 300 since February 18, 2001 has reached 31%, and the stock fund index has reached 16%. With a view to the future, we should cherish the present.
Hong Kong stocks rebounded at a low afternoon
Hong Kong stocks rebounded at a low level in the afternoon, and the Hang Seng index still closed down 1.61%; The Hang Seng technology index fell 4.28% and fell 9% in early trading. Internet technology stocks fell collectively, Jingdong fell more than 11%, beep dropped 10%, Alibaba fell 5%, Kwai fell 6%.
recent correction of Hong Kong stocks due to internal and external factors. Is there a good opportunity for bottom reading
China International Capital Corporation Limited(601995) believes that the market valuation has experienced a significant correction and most indicators have reached the medium and low level in the historical range. Affected by the geographical situation and the impact of the supply chain, the tightening of monetary policies in the United States and some European countries, China's growth is still weak and other factors, the market rise may need the support of positive catalytic factors.
Huasheng Securities pointed out that compared with US stocks that are still in a high position, Hong Kong stocks now have a better margin of safety.
Puyin International believes that under the impact of overseas risks, Hong Kong stocks have emerged rare signals that deserve investors' high attention. From a technical point of view, the Hang Seng Index has touched the long-term support level of the 250 month moving average for the first time in 30 years, and the current high retreat range is close to 2018.
In terms of capital, the current capital outflow rate of Hong Kong stocks is similar to that of the financial crisis in 2008, second only to that of the Asian financial crisis in 1998.
In terms of positions, the short selling positions of Hong Kong stocks are at an all-time high, and the market sentiment has dropped to the freezing point. In the case of extreme pessimism, the space to continue short selling is limited. Puyin international suggested that the time for strategic allocation of Hong Kong stocks has come. It is suggested to buy in batches, buy big and buy small.
according to the latest news, the dialogue and consultation between Chinese and American regulators on audit supervision cooperation are progressing smoothly. Both sides have shown their sincerity to solve the problem and are expected to reach a consensus as soon as possible therefore, the panic caused by zhonggai delisting may be a little exaggerated, and there is still a lot of room for operation in terms of time and content. The afternoon decline of relevant Chinese concept stocks returned to Hong Kong narrowed. Hehuang pharmaceutical closed down 9%, zaiding pharmaceutical fell 6%, yum China fell 5% and Baiji Shenzhou fell 4%.
