Yesterday, the market fluctuated all day and fell, led by the Shanghai index. In terms of sectors, only electronic ID cards rose, while coal, precious metals, oil and gas mining, steel, gas and other sectors led the decline. Overall, individual stocks fell more and rose less. More than 4400 stocks fell in the two cities, less than 300 stocks rose, and more than 100 stocks fell by the limit. The turnover of Shanghai and Shenzhen stock exchanges was 1124.3 billion, compared with 161.3 billion on the previous trading day. The net sales of northbound funds throughout the day was 16.024 billion yuan, with a net sales of more than 10 billion yuan for two consecutive days, including 8.864 billion yuan for Shanghai Stock connect and 7.161 billion yuan for Shenzhen Stock connect.
Overnight, the three major US stock indexes collectively closed higher, with the Dow index up 1.82%, the S & P 500 index up 2.15% and the NASDAQ up 2.92%. Popular Chinese concept stocks rebounded sharply, with fogcore technology up nearly 40%, New Oriental up more than 22%, ideal car up more than 12%, bilibilibili up more than 11%, Xiaopeng automobile and futu holdings up more than 7%, jd.com and pinduoduo up more than 6%. Large technology stocks rose, NVIDIA rose more than 7%, Tesla rose more than 4%, Microsoft and Amazon rose more than 3%, Google and apple rose more than 2%. The oil and gas sector led the decline, with chevron and ExxonMobil down more than 5% and US energy down more than 2%.
At today’s morning meeting of securities companies, Founder Securities Co.Ltd(601901) believes that after the market squats deeply, the market range of take-off will also exceed market expectations; Huafu Securities pointed out that after the market panic and the release of capital risk aversion factors, the probability will bring low allocation opportunities within the year Tianfeng Securities Co.Ltd(601162) said he was optimistic about the long-term development of the intelligent driving industry.
Founder Securities Co.Ltd(601901) : after the market squats, the market range of take-off will also exceed the market expectation
Founder Securities Co.Ltd(601901) said that in the favorable environment of the internal factors to the A-share market, the external negative factors have caused a strong distorted impact. Recently, the market has experienced an uncontrolled sharp correction trend, and there has been a serious oversold trend in the short term. The PE of the Shanghai composite index is 12.59 and Pb is 1.4. Such a low valuation not only has medium and long-term investment value, but also has upward momentum, According to the theory of investment mechanics, the market distorted to the extreme will be reversed. Just like the spring, the greater the torque, the greater the rebound. At this time, if the stock price of some growth blue chips falls below the floor, there will also be a retaliatory rebound.
Huafu Securities: after the market panic and the release of capital risk aversion factors, the probability will bring low allocation opportunities within the year
Huafu Securities pointed out that it has been mentioned before that China’s economic fundamentals, liquidity and policies are the core influencing factors for a shares. Recently, China’s covid-19 epidemic broke out, the “internal worries” and geopolitics are not clear, and the “foreign invasion” of stocks in the withdrawal of overseas funds has confused the market’s expectations of several core variables. Especially on Tuesday, the interest rate reduction of MLF (medium-term lending facility), which was expected by the market, failed, pouring cold water on investors. In the short term, several risk factors are still possible to repeat, or promote the repeated process of the bottom of the market. However, in the medium and long term, there is no sign of wavering in the “steady growth” policy. When the epidemic is controlled and the pessimism is fully released, the expectation of the bottom recovery of enterprise prosperity is relatively clear. After the market panic and the release of capital risk aversion factors, the probability will bring low allocation opportunities within the year.
Tianfeng Securities Co.Ltd(601162) : optimistic about the long-term development of intelligent driving industry
Tianfeng Securities Co.Ltd(601162) believes that the intelligent driving industry has great development potential and is the development trend in the future. It is estimated that the industry scale of L1-L3 intelligent driving in China will be about 30.2 billion yuan in 2021, but it will reach about 86.2 billion yuan by 2025, with an industry CAGR of 30%. Intelligent driving at L2 level and below is a relatively standardized scheme, which will be dominated by suppliers. The L2 + level high-level intelligent driving head car factory has the trend of self-development, but there will still be many tier 1 suppliers. At present, overseas giants occupy a high market share, but Chinese manufacturers are growing at a high speed. We are optimistic about the long-term development of the intelligent driving industry, and believe that the investment in it should pay attention to the system supply capacity, data acquisition and algorithm iteration capacity of manufacturers. It is suggested to pay attention to the system integration suppliers.
