“Most sellers just push tickets regardless of the rise or fall of stocks. In the past two years, the global situation has been relatively stable and China’s policies have been relatively loose. It’s really easy to recommend stocks. However, in the face of market turmoil, it’s not easy for seller analysts to do their job well.”
On March 16, the financial stability and Development Commission of the State Council held a special meeting and proposed that relevant departments should earnestly assume their responsibilities, actively introduce policies conducive to the market and prudently introduce contractionary policies; With regard to macroeconomic operation, monetary policy should take the initiative to deal with it.
The meeting of the finance committee also said that long-term institutional investors are welcome to increase their shareholding ratio.
On the same day, the stock market ended its two-day plunge this week, and the three major indexes fought back and rebounded strongly in the afternoon. As of the close, the Shanghai index rose 3.48%, the Shenzhen Composite Index rose 4.02%, the gem index rose 5.2%, more than 4200 stocks in the two cities rose, and nearly 200 stocks rose more than 9%.
Times finance noted that when the stock market experienced deep adjustment on March 14 and 15 and more than 3000 shares fell every day, many securities companies still released research reports step by step and firmly gave “buy” or “overweight” ratings.
According to wind data, in the two days of the sharp decline of the stock market, securities companies have given a total of 318 stock research reports, of which 46 on the 15th and 62 on the 16th were rated by securities companies, involving nearly 100 stocks.
On March 16, a brokerage analyst told times finance that the research report would be released normally even if the stock market fell sharply.
However, another analyst of new metal materials at a securities firm admitted that although the research report will be published normally, “when the stock market rises, institutions are full of confidence and won’t care about risk factors. When the stock market falls, they will feel more or less bottomless.”
securities companies issue 318 research reports in 2 days
In the past two days, securities companies have released a total of 318 stock research reports. More than 10 of more than 10 shares have been published, among which more than 10 of more than 10 of more than 10 of more than 10 of more than 10 of more than 10 of more than 10 of the number of research reports that have been published, among which there are more than 10 of more than 10 of more than 10 of the number of more than 10 of the number of more than 10 of more than 10 of the number of more than 10 of more than 10 of the number of more than 10 of more than 10 of more than 10 of the number of more than 10 of more than 10 of the number of more than 10 of more than 10 of which are Northern United Publishing & Media (Group) Company Limited(601999) 5 ” ” ” Northern United Publishing & Media (Group) Company Limited(601999) 5 and Haitong Securities Company Limited(600837) (10 copies).
Wind shows that Wanhua Chemical Group Co.Ltd(600309) ( Wanhua Chemical Group Co.Ltd(600309) . SH) has been recommended by 10 securities companies in two days, of which the target price given by UBS Securities Research Report is as high as 154 yuan. On March 16, Wanhua Chemical Group Co.Ltd(600309) closed at 78.32 yuan, up 3.67%, still 96.63% from the target price given by UBS Securities.
It should be pointed out that although the price list of individual stocks given by some securities companies recently seems to be still high, it has been silently reduced compared with the previous target price.
Taking Wanhua Chemical Group Co.Ltd(600309) as an example, UBS Securities gave a target price of 171 yuan last October, and the latest rating has been lowered by 9.94% The target price given by Huatai Securities Co.Ltd(601688) research report twice has been reduced by 14.71%.
Listed companies with more notes on brokers’ research and declarations on the last two days of the previous two days, and listed companies that have more notes on brokers’ research and declarations. Besides Wanhua Chemical Group Co.Ltd(600309) \ \(4) each.
In addition to expressing their optimism about relevant listed companies with individual stock research reports, many securities companies have also recently issued strategic research reports to check market trends and stabilize investors’ mood.
Huaan Securities Co.Ltd(600909) strategy chief analyst Zheng Xiaoxia team pointed out in the after hours review and Research Report on March 15 that after substantial adjustment, the valuation level of the market and some industries has returned to a historically low level, and the medium and long-term investment value has been significant. They pay attention to the market in the third stage of growth and the price rise of consumption recovery, which are two investment lines with greater rebound elasticity in the future market.
Many brokerage strategy research reports analyzed the recent sharp outflow of funds from the north.
Zheshang Securities Co.Ltd(601878) Wang Yang and Chen Hao believe that due to the macro background of the potential interest rate increase of the Federal Reserve and the defensive mentality of funds under geographical conflicts, there may still be potential fluctuations in funds going north in the short term, but in the medium and long term, combined with the good background of China’s economy, the inflow of funds going north into A-Shares is still the general trend.
Haitong Securities Company Limited(600837) Xun Yugen’s team pointed out after combing the previous large outflow of foreign capital from a shares, “Although in history, foreign capital has also phased out A-Shares significantly, from the opening of the Shanghai Hong Kong stock connect in 2014 to 2021, the capital going north is a net inflow every year, and the proportion of foreign capital in the A-share market is also increasing. With the rapid increase of the importance of China’s economy in the world, the inflow of foreign capital into A-Shares is still a long-term trend for a long time.”
blindly pushing stocks is no longer valid
Behind the two-day Research Report, the seller analysts actually had a hard time.
The above-mentioned analysts of new metal materials told times finance that when encountering the stock market adjustment, not only the seller’s analysts will feel uncomfortable, but also the buyer’s mentality will change. “The buyer is not willing to listen to you at this time and is not very interested in participating in the roadshow. However, the buyer also has different strategies. It doesn’t matter if they are index funds, because they focus on the industry; but for the buyer who looks at individual stocks, it’s difficult to push tickets for them at this time.”
The difficulty of the seller’s work in the near future also reflects the limitations and deficiencies of the securities analyst’s work in the past.
“Most sellers just push tickets regardless of the rise or fall of stocks. In the past two years, the global situation has been relatively stable and China’s policies have been relatively loose. It’s really easy to recommend stocks. However, in the face of market turmoil, it’s not easy for seller analysts to do their job well.” The analyst said.
Therefore, the stock market adjustment has not only sounded an alarm to ordinary investors, but also the seller’s institutions are reflecting on the shortcomings of their work in the past.
Looking ahead to this year’s market situation, the analyst said that his team had adjusted their thinking since the beginning of the year, “We should do more services this year – get familiar with listed companies and buyers, write more research reports and hold more meetings. Relatively speaking, this year’s style may be more suitable for considering some issues from bottom to top. For example, some assets may be better, and then look at these industries from bottom to top; if we still look at the industries from top to bottom, from the macro and policy levels, it may be difficult to notice the cooperation Appropriate opportunities. “
