A-share market review last week
The three major indexes of A-Shares (December 27-december 31) collectively closed up. The Shanghai index rose 0.60% to close at 3639.78 points, the Shenzhen Component Index rose 1% to close at 14857.35 points, and the gem index rose 0.78% to close at 3322.67 points.
In terms of funds going north, last week, smart money net bought 14.669 billion yuan of a shares. Among them, Contemporary Amperex Technology Co.Limited(300750) received the largest net purchase amount of RMB 1.336 billion, followed by Tongwei Co.Ltd(600438) , Industrial Bank Co.Ltd(601166) , Ganfeng Lithium Co.Ltd(002460) , Luzhou Laojiao Co.Ltd(000568) and other stocks, with a net purchase amount of more than RMB 450 million. In addition, the net sales amount of individual shares such as Asymchem Laboratories (Tianjin) Co.Ltd(002821) , Kweichow Moutai Co.Ltd(600519) , Wuxi Apptec Co.Ltd(603259) , Luxshare Precision Industry Co.Ltd(002475) ranked first, all exceeding 460 million yuan. The picture shows the net purchase of individual stocks by the capital of northbound. Tabulation: Xu Yiming
From the perspective of Shenwan level industries, 25 industries rose last week. Among them, industry indexes such as national defense and military industry (4.80%), light industry manufacturing (4.62%) and social services (4.59%) increased by more than 4% each week. In addition, food and beverage, coal and social services led the decline, with weekly declines of more than 1%.
In terms of lifting the ban, 41 stocks will face lifting in the first trading week of 2022, with a total lifting amount of 4.695 billion shares. Calculated according to the closing price on December 31, 2021, the total lifting market value will reach 43.382 billion yuan, down 61.83% from 113.642 billion yuan last week. In terms of the lifting of the ban, Advanced Micro-Fabrication Equipment Inc.China(688012) (10.157 billion yuan), Apt Medical Inc(688617) (8.395 billion yuan), Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) (5.756 billion yuan) and other individual shares will be lifted by more than 5.7 billion yuan.
It is noteworthy that China Mobile will be listed on the Shanghai Stock Exchange on January 5, and all the three operators will “join hands” in a shares. China Mobile (600941) announced on January 3 that the company’s shares will be listed on the Shanghai Stock Exchange on January 5, 2022. In the early morning of December 21 last year, China Mobile disclosed the IPO price of 57.58 yuan / share. According to the prospectus, the total amount of funds raised was nearly 56 billion yuan, exceeding the financing scale of 47.904 billion yuan in China Telecom Corporation Limited(601728) , becoming the largest new share financing scale of A-Shares since the IPO of Agricultural Bank Of China Limited(601288) in June 2010.
According to the reporter’s combing, the purpose of the raised funds disclosed by China Mobile will focus on “new infrastructure, new elements and new kinetic energy”, promote chbn’s all-round development, promote the transformation of digital intelligence, and build a new digital intelligence ecology for 5g boutique network construction, new infrastructure construction of cloud resources, Millennium smart home construction, smart middle platform construction Five projects, including new generation information technology R & D and digital intelligence ecological construction, have a total investment of 156.9 billion yuan, and the amount of raised funds to be invested is 56 billion yuan. According to the previous prospectus application draft, 28 billion yuan of raised funds will be used for 5g boutique network construction.
Analysts generally believe that for mobile, its share price has been seriously undervalued in both US and Hong Kong stocks over the years, and the return to A-Shares is conducive to its better financing. For a shares, it is the return of excellent enterprises, which undoubtedly injects new blood and new momentum into a shares, and allows investors to share the huge dividends brought by China’s information construction. Therefore, it is generally good news. However, in the short term, it will certainly “suck blood” other funds, because such high-quality companies will be sought after.
Hong Kong stock market
On January 3, Hong Kong stocks ushered in the first trading day of 2022. The Hang Seng index opened higher and went lower. As of the close, it fell 0.53% to close at 23274.7. In terms of sectors, retail pharmacies, traditional Chinese medicine, salt lake lithium extraction and other sectors led the increase, all exceeding 3.5%. In terms of individual stocks, midis muscle, shangtang-w, time global group, Peili nongben, China digital video and other individual stock markets performed well, up more than 36%.
foreign exchange market
As of the press release on January 3, the offshore RMB rose 18 basis points against the US dollar to 6.36615. The onshore RMB fell 0.28% against the US dollar to 6.3550.
The industry expects that with the tightening of US dollar liquidity and the prominent hedging function, the US dollar is expected to further appreciate in 2022, and the negative impact on global asset prices and the global economy, especially the economic recovery of emerging market countries, should be vigilant.
bond market
According to the data released by the State Administration of foreign exchange on December 31, 2021, as of the end of September 2021, the balance of China’s full caliber (including local and foreign currencies) foreign debt was US $2696.5 billion, an increase of US $16.7 billion or 0.6% over the end of June 2021.
The industry said that the increase in foreign debt was mainly due to the increase in the allocation of special drawing rights (SDR) obtained by the central bank and the increase in domestic RMB bonds held by foreign investors. In the third quarter of 2021, the growth rate of China’s foreign debt slowed down. Benefiting from China’s overall promotion of epidemic prevention and control and economic and social development, the national economy has maintained a recovery trend, and foreign investors continue to increase their holdings of RMB bonds, which reflects the achievements of China’s two-way opening of the financial market and investors’ confidence in China’s economic development prospects. The main indicators of China’s foreign debt are within the internationally recognized safety line, and the foreign debt risk is generally controllable.
institutional investment view
YueKai securities : through the back test of the new year’s day market over the years, A-Shares are expected to have a good start. Statistics show that the Shanghai stock index rose or fell after the new year’s Day holiday in the past 10 years, with a high probability of rise, especially in the week after new year’s day, the probability of rise of the Shanghai stock index reached 80%. Specifically, in the past 10 years, the probability of Shanghai stock index rising in the week after the new year’s Day holiday reached 80%, with an average increase of 2.27%; In the following month, the probability of Shanghai stock index rising reached 60%, with an average increase of 1.04%.
Central China Securities Co.Ltd(601375) : the A-share index maintained the characteristics of stable operation on the last trading day of 2021. We expect that after the new year’s Day holiday, the market is expected to continue to maintain the operation pattern of range shocks, and the rotation characteristics of leading hot spots will continue to be maintained. After the festival, the market may have a new situation of high-low switching. It is suggested to continue to pay attention to the changes of policy, capital and external market. It is expected that the short-term slight shock of the Shanghai index is more likely, and the short-term slight consolidation of the gem is more likely. We suggest that investors pay close attention to the investment opportunities in medicine, chemical fertilizer, games, aerospace and military industries in the short term, and continue to pay close attention to the investment opportunities of undervalued blue chips in the middle line.
Citic Securities Company Limited(600030) : under the package of stable growth policies, it is expected that the adaptability of supply and demand in China will further improve in 2022, and the economy is expected to recover to the potential growth level and achieve a growth of about 5.5%. In the first half of the year, the growth rate of infrastructure is expected to rise, hedging the drag caused by the low growth rate of real estate investment; In the second half of the year, consumption will return to a level close to that before the epidemic and become an important driving force for economic growth. The A-share market is expected to have more opportunities in the first half of the year and relatively flat in the second half of the year. In terms of style, blue chip is the main investment line throughout the year. In terms of configuration, it is suggested to focus on midstream manufacturing and consumption in the first half of the year; Focus on opportunities in the consumer and technology sectors in the second half of the year.
AVIC securities : as of December 31, 2021, there were 4684 listed companies in Shanghai and Shenzhen, a year-on-year increase of 12.06%, an increase of 31.31% compared with 2018 before the implementation of the registration system; The circulating share capital of A-Shares reached 6.04 trillion shares, a year-on-year increase of 7.70%, an increase of 23.89% over 2018. The total market value of A-Shares reached 96.50 trillion yuan, a year-on-year increase of 14.09%, an increase of 101.80% over 2018. On the whole, the capacity of A-Shares is in a period of rapid expansion. Combined with the high probability of landing of the comprehensive registration system in 2022, the turnover of trillion yuan will gradually become normalized in the future.
(Securities Daily)
