On March 13, Citic Securities Company Limited(600030) released the latest research opinion, saying that A-Shares have recently suffered serious emotional catharsis due to the superposition of internal and external risks, and there have been three serious deviations. At the same time, with the arrival of the three critical points, the market bottom has been confirmed for the second time, and A-Shares are about to usher in a resonant upward trend of value and growth.
On the one hand, the recent A-share overshoot seriously deviates from the tone of China’s loose policy and stable growth; Investor sentiment is seriously deviated from China’s sound economic fundamentals; The current valuation level of A-Shares is seriously deviated from the historical and global comparable valuation level.
On the other hand, it is expected that the expectation of the conflict situation between Russia and Ukraine will gradually enter the critical point of improvement; After the “two sessions”, the steady growth policy has entered the critical point of renewed force; Investors’ serious emotional venting and position reduction are also gradually entering the critical point. The “market bottom” of A-Shares has been confirmed for the second time, and will usher in the resonance upward of value and growth with the repair of the three deviations.
On the disposition, Citic Securities Company Limited(600030) suggests that we should adhere to the balanced configuration of style and industry, adhere to the main line of steady growth, and continue to plan around the “Two Lows”. We will focus on the varieties of lithium, photovoltaic, semiconductor, Baijiu, medicine and architecture that are expected to exceed expectations in the near future.
