On March 14, Hong Kong stocks suffered a sharp fall, and the main indexes fell sharply. Among them, the Hang Seng Index fell below 20000 points, down nearly 5%, breaking the six-year low; The Hang Seng technology index fell more than 11%, the largest one-day decline on record. Among them, several star technology stocks fell by more than 10%, Tencent fell by nearly 10%, and the market value evaporated by more than HK $345.7 billion.
The three major A-share indexes opened low and went low. As of the close, the Shanghai index fell 2.61%, the Shenzhen composite index fell 3.08% and the gem index fell 3.56%. On the disk, covid-19 drugs and covid-19 detection sectors rose, electronic ID card concept stocks strengthened, and most other concepts fell, among which the tourism sector led the decline.
Stocks in the two cities showed a general downward trend, with more than 4200 shares floating green. In addition, the net sales of northbound funds were nearly 15 billion yuan.
According to China Central Television News on March 14, members of the Ukrainian delegation said that the fourth round of Russia Ukraine negotiations will be held at 10:30 Kiev time on the 14th. In addition, the Ukrainian Ministry of digital information exchange said that the teaching work in most security areas of Ukraine will be gradually restored.
Hang Seng technology index fell sharply
more than 10% drop in star technology stocks
On March 14, the main indexes of Hong Kong stocks continued to decline. According to the data, as of the close, Hong Kong’s Hang Seng Index fell 4.97% to 1953166 points, falling below the 20000 point mark for the first time since July 2016; The Hang Seng China enterprise index fell 7.15% and the Hang Seng technology index fell 11.03%.
From the Hengsheng technology index constituent stocks, Kwai Seng data -SW fell more than 28%, Xiaopeng automobile -W fell over 22%, Ming Yuan cloud fell more than 21%, beep Li -SW, ideal car -W fell over 19%, Baidu group -SW, Ctrip group -S fell 17%, the US group -W fell more than 16%, Jingdong health fell over 15%, Jingdong group -SW fell over 14%, fast hand -W fell more than 12%, Ali health fell over 11%, Alibaba -SW dropped over 10%. Tencent holdings fell nearly 10% and its total market value evaporated HK $345744 during the day.
For the recent downward trend of Hong Kong stocks, Xue Wei, a Hong Kong stock strategy analyst at Ping An Securities, said that under the impact of a series of factors such as global “quasi stagflation”, geopolitical tension and increasing concerns about China concept stocks, the Hong Kong stock market has weakened frequently, and most sectors have a significant downward trend. From the perspective of benefiting from inflation and being less impacted by the concerns of China concept stocks, the sector advantages represented by cyclical and marginal consumption are prominent and have strong defensive attributes. In addition, Hong Kong’s local public utilities and mainland state-owned enterprises are also areas of certain defensive value.
a-share anti epidemic stocks bucked the market and were active
From the perspective of A-share disk, anti epidemic concept stocks bucked the trend, covid-19 drugs and covid-19 detection sectors rose, and Jiangsu Sinopep-Allsino Biopharmaceutical Co.Ltd(688076) , Xinxiang Tuoxin Pharmaceutical Co.Ltd(301089) , Shanghai Haishun New Pharmaceutical Packaging Co.Ltd(300501) , Shanghai Labway Clinical Laboratory Co.Ltd(301060) , Bgi Genomics Co.Ltd(300676) and other stocks rose by more than 10%.
Electronic ID card stocks strengthened, with Linewell Software Co.Ltd(603636) , Hangzhou Everfine Photo-E-Info Co.Ltd(300306) , Tungkong Inc(002117) trading.
Most of other concept sectors fell, among which travel, catering, consumption and other industries led the decline, which may be related to the recent rise of covid-19 epidemic in China.
Data show that as of the close, the airport, catering and tourism index fell by more than 7%, and the alcohol, electrical power grid, agriculture, shipping, aviation, daily chemicals and soft drinks index fell by more than 4%.
In terms of constituent shares, the Hongda Xingye Co.Ltd(002002) 800 \ , Tibet Tourism Co.Ltd(600749) , China Tourism Group Duty Free Corporation Limited(601888) , Air China Limited(601111) fell by more than 8%.
A total of 4266 stocks fell in the two cities, and the market profit-making effect is very poor. In terms of changes in the total market value, on March 14, a shares had a total market value of 85379702 billion yuan, an evaporation of 2241085 billion yuan from the previous trading day
From the perspective of capital flow, on March 14, foreign capital continued to leave the market last week, showing a unilateral outflow throughout the day. According to the data, the net sales of northbound funds reached 14.408 billion yuan, the single day net sales reached a new high since January 27, and the cumulative reduction of positions in recent six consecutive days exceeded 50 billion yuan.
industry insiders:
the most panic time has passed
After the recent continuous adjustment and risk release of a shares, insiders said that the time of most panic has passed, and the market will usher in a phased repair window in the next month
Yan Peipei, an analyst at Bohai Securities, said that in the short term, there is still the possibility of repeated external and other risk factors and domestic risk aversion, or promote the repeated confirmation at the bottom of the market. However, in the medium and long term, the expectation that the steady growth policy will promote the recovery of enterprise prosperity is relatively clear, and it is expected to bring the low point of enterprise profitability upward. The venting process of market panic and risk aversion will probably bring low allocation opportunities within the year.
China Industrial Securities Co.Ltd(601377) analyst Zhang Qiyao said that since the interpretation of the Russian Ukrainian conflict, the attitudes and sanctions of all parties have been basically clear, and the possibility of further impact exceeding expectations has been reduced. In addition, recently, the provinces have also successively announced major project investment plans, which have increased significantly compared with last year. At the same time, many places have introduced loose policies for house purchase. “Wide currency” and “wide credit” have been increasing, and further RRR and interest rate cuts can be expected in the future. Moreover, the Fed’s plan to raise interest rates and even shrink the table is imminent. On March 16, the Federal Reserve will hold an interest rate meeting in March. The interest rate increase of 25bp is basically “a certainty”, and there is a high probability of announcing the schedule reduction plan. At the same time, the market’s long-standing concerns about interest rate increase will also fall to the ground. If the market is impacted again, it may be another opportunity to participate in the deep rebound. The next month, after the continuous adjustment since the beginning of the year and the most panic point gradually passed, the market is expected to usher in a wave of repair window.
In terms of investment strategy, Zhang Qiyao believes that in the second quarter, the size and style of the market will turn to balance. It is suggested that the “dumbbell” configuration of “steady growth” + “small high-tech” should be adopted: on the one hand, it should benefit from the financial, real estate, new and old infrastructure and other sectors expected by “steady growth”; On the other hand, we will continue to find targets that meet the characteristics of “small high-tech” from bottom to top in the more adjusted medicine, computer and “new semi army”. In the long term, we will continue to focus on the five major directions of scientific and technological innovation: new energy (new energy vehicles, photovoltaic, wind power, UHV, etc.); New generation information and communication technology (artificial intelligence, big data, cloud computing, 5g, etc.); High end manufacturing (intelligent CNC machine tool, Siasun Robot&Automation Co.Ltd(300024) , advanced rail transit equipment, etc.); Biomedicine (innovative drugs, CXO, medical devices and diagnostic equipment, etc.); Military industry (missile equipment, military electronic components, space station, space shuttle, etc.).
