panel overview
In early trading on Monday, A-Shares opened low and bottomed out in shock, with the three major indexes falling by more than 1%; In the afternoon, the decline of the stock index deepened, showing a pattern of shrinking decline. On the disk, aerospace is outstanding, and the decline of pharmaceutical commerce and chemical pharmacy is slightly shallow; Declines were led by sectors such as airports, mining, wine making, tourism and hotels, wind power, coal, electricity, nonferrous metals, energy metals, gas, semiconductors and oil. In terms of subject stocks, covid-19 drugs, heparin concept, recombinant protein and covid-19 detection rose against the trend; Concepts such as lidar, Sino Russian trade, soil remediation, oil price, beer concept, online travel, oil and gas service, green electricity, Baijiu, pork, East and West, pumped storage and other concepts led to a fall.
message surface
central bank’s heavy data released, credit supply in February was lower than expected
Market participants expect that due to the lower than expected data of social finance and new credit, the financing demand of the real economy is weak, and the market expectation of the people’s Bank of China’s further reduction of reserve requirements and interest rates has increased. At present, China’s demand recovery is weak, the pressure on the economy is still large, and the possibility of the people’s Bank of China using interest rate instruments and deposit reserve instruments appropriately increases.
US announces cancellation of MFN treatment for Russia
On March 11 local time, US President Joe Biden delivered a speech at the White House and announced new sanctions against Russia, focusing on the cancellation of permanent normal trade relations (PNTR) treatment for Russia, namely “most favoured nation treatment”, together with the group of seven and EU members. In addition to the sanctions already imposed on Russia, the United States will also increase tariffs on imports from Russia. The bill is expected to vote in both houses of Congress as early as next week.
the State Food and Drug Administration re approved covid-19 antigen detection boxes of many companies to be listed
According to the website of the State Food and drug administration, on the 13th, the State Food and Drug Administration approved the registration application of five covid-19 antigen detection kit products. These five enterprises include Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) , Beijing Hotgen Biotech Co.Ltd(688068) , Tianjin BIOSIS Biotechnology Co., Ltd., Chongqing Mingdao jietest Biotechnology Co., Ltd. and Beijing Lepu Diagnostic Technology Co., Ltd.
Jufeng viewpoint
pre market judgment: weekend news is not optimistic. On the one hand, China’s epidemic data is rising rapidly and the social finance data in February is lower than expected; On the other hand, U.S. stocks corrected again on Friday; The situation in Russia and Ukraine has not yet eased, and the situation in the Middle East has experienced twists and turns. It is expected that the Shanghai stock index will bottom in the range of 3150 ~ 3350. At present, the market is more emotional. It is suggested that investors control their positions and pay attention to risks for stocks with medium and high callback of two financial targets reaching 30%.
In fact, on March 14, the three major indexes collectively opened low, with the Shanghai index falling 1.14%, the Shenzhen composite index falling 1.06% and the gem index falling 1.01%. On the disk, covid-19 detection, health care, commercial chain and other sectors led the rise, while hotel catering, tourism, coal and other sectors led the decline.
After the opening, the stock index continued to shake and build a bottom after a slight rebound. The sectors such as wine making, airport, energy metals, mining, wind power, semiconductor and lithium battery fell sharply, and there was an influx of risk averse funds in the sectors such as medicine, medical treatment, military industry and securities.
In the afternoon, the Shenzhen composite index fell 3%. Among the constituent stocks, Titan Wind Energy (Suzhou) Co.Ltd(002531) , Henan Shenhuo Coal&Power Co.Ltd(000933) , Jiugui Liquor Co.Ltd(000799) , Eve Energy Co.Ltd(300014) led the decline. The growth enterprise market fell by more than 3.5%, and major stocks such as Contemporary Amperex Technology Co.Limited(300750) , Yihai Kerry Arawana Holdings Co.Ltd(300999) , Sungrow Power Supply Co.Ltd(300274) , Aier Eye Hospital Group Co.Ltd(300015) , Eve Energy Co.Ltd(300014) , Wens Foodstuff Group Co.Ltd(300498) , Imeik Technology Development Co.Ltd(300896) , etc. fell by more than 4%. The concept of nucleic acid detection, covid-19 drugs and military industry, which rose sharply in the morning, fell significantly; The decline of coal, nonferrous metals and electric power deepened in the afternoon.
Recently, we have repeatedly stressed that we should follow the trend and reduce our positions in time with the help of intraday rebound. At present, the wide range of market shock is an opportunity to sell high and absorb low. Reverse operation should be avoided by all means.
investment suggestions: Jufeng investment adviser believes that the central bank has continuously cut reserve requirements and interest rates since December last year to release liquidity, indicating that the policy bottom has appeared; However, the construction of the market bottom is more complex and there is a time lag between the market bottom and the policy bottom, so the trend of A-Shares has twists and turns. After the Spring Festival, value and growth rose one after another. At the end of February, the oversold rebound market fell behind and continued to find the bottom. At present, the construction of A-share bottom box is a good opportunity to sell high and absorb low. Especially when there is intermediate adjustment in the market, but there is no liquidity risk, it is suitable to reduce positions; The medium-term proposal takes growth as the main line, and individual stocks with higher than expected growth in the annual report and the first quarter report can continue to participate in the rebound.
