Shanxi Securities Co.Ltd(002500) the research report believes that the current A-share market volume can be lower than the peak in mid December. The centralized release of long and short information at the end of the previous year has gradually ended, and the market expectations are basically consistent, which has cooled the restlessness. In 2022, in the macro environment of economic downturn and relatively abundant macro liquidity, A-Shares lack the internal driving force of overall trend upward, and the probability of systemic risk is also low. The structural market will still deepen the interpretation, and the style may gradually switch from small and medium-sized market to large-scale value and market growth. First, the performance of small and medium-sized stocks may have been released intensively this year. Under the downward trend of overall profit expectation and high base effect, the callback risk is relatively large. Second, the market growth is expected to maintain a high boom driven by industrial logic. It is suggested to pay attention to the coverage targets such as entrepreneurship 50 and entrepreneurship blue chip. Third, the market value has a strong risk aversion attribute, or can obtain excess benefits under the economic downward trend.
(Securities Times)
