March 14th (Monday), the main contents of today’s headlines are:
China Securities Journal
Monetary policy supports steady growth, and it is expected to cut reserve requirements and interest rates
Experts pointed out that the Fed’s interest rate hike cycle is not enough to change the “me dominated” situation of China’s monetary policy. At present, the requirements for steady growth are very certain. Credit easing is still in the promotion stage and still needs the escort of monetary policy. The people’s Bank of China may further reduce reserve requirements and interest rates.
Return to two-way fluctuations exchange rate bounced up to escort counter cyclical regulation
Foreign exchange analysts pointed out that the current differences in economic and policy trends between China and foreign countries have gradually increased the resistance to the appreciation of the RMB exchange rate. After several months of “upwind”, the RMB exchange rate may moderately return to the fundamentals and policies, but thanks to the strong demand for export settlement of foreign exchange and the consolidation of policies, economic growth and other factors, there is less risk of significant depreciation during the year. The flexibility of the two-way floating of the RMB exchange rate is expected to continue to increase, which can also escort the countercyclical regulation of macro policies.
Build a foundation, increase power, tap potential, expand domestic demand and play a “trilogy”
Recently, a series of policy signals to expand domestic demand have been intensively released. Experts said that promoting the sustained recovery of consumption, actively expanding effective investment, promoting coordinated regional development and new urbanization played a “trilogy” of expanding domestic demand. It is expected that this year’s consumption will continue to maintain a stable recovery trend and lay a solid foundation for the development of domestic demand.
Commodity stories, more risk aversion tools, careful choice
Industry insiders said that due to the impact of geographical events, the recent fluctuations in the commodity market have intensified. In the early stage, the transmission effect of the rise of leading varieties such as crude oil on other assets once accelerated. It is recommended that investors and relevant entity enterprises do a good job in risk management
Shanghai Securities News
From “dual control” of energy consumption to “dual control” of carbon emission, the construction of the national carbon market ushered in good news
This year’s government work report proposed that the energy consumption intensity target should be comprehensively assessed during the 14th Five Year Plan period, with appropriate flexibility, and the new renewable energy and raw material energy consumption should not be included in the total energy consumption control. At the same time, we should promote carbon peak and carbon neutralization in an orderly manner. Implement the carbon peak action plan. Promote the transformation from “dual control” of energy consumption to “dual control” of total carbon emission and intensity, improve the incentive and restraint policies for pollution and carbon reduction, and accelerate the formation of a green production and lifestyle.
The number of cases solved on the first day of “strong” new shares listing decreased sharply, and the issuance pricing gradually moved closer to the market average
According to statistics, since February, a total of 26 new shares have been listed on the Shanghai Shenzhen Stock Exchange and the Beijing stock exchange, of which only one broke on the first day of listing, which has been significantly improved compared with the first day breaking of six new shares in January this year and December last year. Meanwhile, among the registered new shares purchased in February (excluding unprofitable companies), the proportion of the issued P / E ratio lower than the industry average p / E ratio exceeded 53%, significantly higher than the proportion of 21% and 27% in the previous two months.
The overseas market fluctuated. Last week, A-share foreign capital flowed out as a whole and increased positions locally
Last week, the global financial market, including a shares, continued to fluctuate against the background of further fermentation of geographical conflicts. There was a net outflow of foreign capital from a shares, and many factors led to a strong market pessimism. However, the institutional view over the weekend shows that some positive signals have begun to appear in the current market, and the market may have entered the classic bottom seeking and bottom building process.
Public REITs from hot speculation to cooling
Many respondents believe that the listed public offering REITs project is relatively mature and high-quality, attracting a large number of institutional configurations. At the same time, due to less supply, scarce products and the influx of some trading funds, the price of REITs has been greatly pushed up in the short term, resulting in risk accumulation and increased volatility. Encouraging more high-quality projects to enter the market should become the goal of the next stage of REITs market
Securities Times
Optimistic about the medium and long-term trend of a shares, many funds liberalized the purchase restrictions
Despite the recent adjustment of Shanghai and Shenzhen stock markets, many funds have chosen to liberalize the restrictions on the amount of large subscription and large conversion into business in a volatile market environment. According to the analysis of industry insiders, it is believed that China’s stock market has better medium and long-term allocation value to liberalize the purchase at this point. With the gradual landing of short-term and external uncertainties, the stock market is expected to get rid of the current weak pattern and return to the upward trend.
Repurchase of listed companies continues to boost investor confidence with actions
Recently, listed companies have constantly announced repurchase, and industrial capital is taking practical actions to provide a platform for the company. According to statistics, at the beginning of this year, as of March 13, 305 companies had repurchased, with a repurchase amount of 18.476 billion yuan. In addition, the operating conditions of some listed companies in the first two months show that the profitability can be expected.
Covid-19 antigen detection products attracted attention to the announcement progress of several listed companies
The State Food and Drug Administration issued a notice on March 12, approving the change of covid-19 antigen product detection application of Nanjing Nanjing Vazyme Biotech Co.Ltd(688105) , Beijing jinwofu, Shenzhen Huada Yinyuan, Guangzhou Guangzhou Wondfo Biotech Co.Ltd(300482) , Beijing huaketai biology. The listing of related products has aroused great concern in the market. The research report predicts that the market scale of covid-19 antigen self-test kit in China is expected to reach 17.7 billion ~ 26.6 billion yuan in a single month.
Global fertilizer and grain prices rose sharply, and commodity ETFs continued to be popular
The conflict between Russia and Ukraine has lasted more than two weeks, and the impact is still fermenting. On March 10 local time, Russia made relevant decisions on fertilizer export. As soon as the news comes out, the international grain market will shake sharply, and the global price of chemical fertilizer will start a new round of rise. Driven by the new round of global food rise, China’s anti inflation commodity ETF fund is favored by the market
Securities Daily
Work hard and make solid progress in major engineering projects around the country
It is reported that at present, the land of China is busy. All localities have made great efforts, concentrated efforts, seized opportunities, and promoted a number of major engineering projects with high quality and high standards.
108 listed companies intend to pay a total cash dividend of more than 27.7 billion yuan, and 55 have returned investors with “real gold and silver” for four consecutive years
The annual report season is also the dividend season. According to the data, as of March 13, 157 A-share companies had issued their annual reports for 2021, 108 planned cash dividends, and the total proposed dividends were 27.731 billion yuan, of which 20 companies proposed total cash dividends, accounting for more than 50% of the net profit of the year. Experts interviewed said that companies with a high proportion of dividends often have better financial quality and lower valuation level.
Public fund managers “rush to private” is a small climax, and the competition in the private placement industry is intensified
According to statistics, as of March 13, there have been 59 cases of fund executives change this year, involving 37 public fund companies. There seems to be a small climax in the “private run” of public fund managers. A number of insiders suggested that under the current broad and volatile market conditions, the survival pressure of the private placement industry is increasing, and the fund managers planning to “go private” may be at risk. Fund managers planning to “go private” should pay attention to the harmony of time, place and people.
Monthly business data transmission “warm spring” signal, blue chip leading stocks gather in five industries
Recently, affected by many factors, the market risk aversion is high, and the A-share market fluctuates greatly. At the same time, the share price of high-quality shares also retreats greatly. In the face of market fluctuations, many companies have opened a new way to protect the market – disclosing monthly operating data to dispel investors’ concerns with excellent performance, so as to boost market confidence
people’s daily
Let more funds “live water” nourish small and micro market players
The small and micro market has a wide range of subjects, which is not only the embodiment of economic vitality, but also the main force driving employment. Further strengthen policy coordination, let the “living water” of funds continue to nourish market players and stabilize the overall economic market
first finance
Heavy macro data will be released soon. Is the economy “stable”?
On March 15, the National Bureau of statistics will release economic data such as industrial added value, fixed asset investment and total retail sales of social consumer goods in the first two months of this year. The market expects that the consumption will be repaired from January to February. Thanks to the low base and the continuous force of fiscal policy, the growth rate of manufacturing investment may continue to be strong, and infrastructure investment is expected to have a “good start”.
Snowball structure exacerbates A-share selling pressure? It is not a “breakeven product” that has not been hammered in intensively
Over the past week, A-Shares continued to fall, and the market once again pointed the sharp fall at snowball structured products. It is understood that most products have not been knocked out. However, even if snowball products have become the potential “back pot man” of the market crash, the sales chaos is still worthy of reflection. Snowball is a “high-risk product”, not a “breakeven product”. Radical and irresponsible sales need to attract attention
economic reference
Defining key tasks and accelerating the construction of new urbanization
In 2022, China will further improve the quality of new urbanization and give full play to the positive role of new urbanization in promoting residents’ consumption and stimulating effective investment. The reporter learned that the key tasks of new urbanization construction in 2022 have been basically defined.
Industrial Internet plus double carbon implementation plan is brewing
It is reported that, with the acceleration of new technologies to promote the development of green low-carbon industries, relevant departments are focusing on key industries such as steel, nonferrous metals, petrochemical, chemical building materials and other industrial sectors, and research and implement the “industrial Internet plus double carbon” implementation plan to promote the new generation of information technology, such as industrial Internet, big data and 5G, to make green manufacturing. At the same time, relevant measures are being intensively introduced from ministries and commissions to local governments to further increase financial support for enterprise digitization and green transformation from the aspects of financial awards and subsidies and financial credit.
