2022 New Year's Day strategy weekly: the shortage of chips has not been alleviated, and the yuan universe has become the main line of agitation in spring

The indexes with the largest increase in the last week of 2021 are CSI 1000, Kechuang 50, Guozheng 2000, small and medium-sized board index, etc. The indexes with small increase in the last week of 2021 are Shanghai Stock Exchange 50, China Stock Exchange 100, Shanghai Stock Exchange 180, etc. Since the beginning of the year, the top indexes are Guozheng 2000, Chuang growth, China Securities 1000 and so on. Record growth and the performance of China Securities 2000 remain ahead.

The top performing sectors in 2021 are electrical equipment, non-ferrous metals, coal and basic chemical industry, and the worst performing sectors are real estate, social services, non bank finance and household appliances.

In the last week of 2021, most plates were red, and only six plates fell. Among them, social services, national defense and military industry, light industry manufacturing and other sectors increased the most, while food and beverage and coal sectors performed poorly.

In the last week of 2021, northward capital generally showed a net inflow, and the net purchase of foreign capital was 14.67 billion yuan, the highest in three weeks. The top five stocks that foreign investors bought in this week were Longi Green Energy Technology Co.Ltd(601012) (RMB 5.069 billion), Tongwei Co.Ltd(600438) (RMB 1.803 billion), Jincheng medicine (RMB 987 million), Ping An Insurance (Group) Company Of China Ltd(601318) (RMB 840 million) and Jiangsu Hengrui Medicine Co.Ltd(600276) (RMB 782 million). The top five stocks of this week's net outflow of foreign capital were Contemporary Amperex Technology Co.Limited(300750) (- 1567 million yuan), Unigroup Guoxin Microelectronics Co.Ltd(002049) (- 901 million yuan), Sanan Optoelectronics Co.Ltd(600703) (- 735 million yuan), Zhejiang Huayou Cobalt Co.Ltd(603799) (- 649 million yuan) and Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) (- 555 million yuan).

In the global macroeconomic data of the last week of 2021, in December, China's PMI was 50.3%, an increase of 0.2 percentage points over the previous month, higher than the critical point, and the prosperity level of the manufacturing industry continued to rise. This week, iron ore fluctuated upward, coking coal rose strongly, and the downward trend of power coal continued. Internationally,; In November, the US trade deficit continued to expand, with a month on month increase of 17.5%, the highest ever.

Meso aspect: the global application of meta universe is rapidly landing

China's search engine giant Baidu released China's first meta universe platform - xirang on December 21, 2021. This platform can log in through smartphone, computer or VR glasses. Hope to allow all users to create avatar virtual roles and allow users to communicate with each other. Users can visit cities, exhibition halls and scenic spots in Xitu, such as Shaolin Temple, Sanxingdui, and some virtual scenes,

In recent years, roblox has used its strong user social attributes to add more game elements, including viewing nearby players, online parties and conferences, virtual concerts and other playing methods. In October 2020, roblox held lilnasx online concert in cooperation with animation concert streaming media company wave, further promoting the integration of games and the real world.

Axie infinity is an NFT (virtual currency) game. The value of digital assets fluctuates greatly, but it is a breakthrough in the commercialization of blockchain technology in the game field and also marks the initial landing of an extremely important "closed-loop economic system" in the concept of meta universe. If the legitimacy of metauniverse games is recognized and relevant laws and regulations are more perfect in the future, financial institutions are bound to take over these games. At that time, the digital assets in the game will get a more authoritative valuation, and their actual value will gradually approach the legal tender.

Investment strategy: the risk of the spread of the new variant virus is still increasing. The Central Bank of China has maintained a partial dove monetary policy under low inflation expectations, which is expected to continue in the first half of 2022. The expected landing of China US risk-free yield remains stable. With the global supply chain tightening again, it is expected that the supply of semiconductor chip industry will be in short supply, and the comprehensive recovery of the tertiary industry will boost the expansion of consumer electronics, virtual reality, metauniverse and smart home in the smart consumption track. Among them, the global application of yuancosmos track has landed on a large scale, which is expected to make the restless main line in spring move towards the science and technology track in an all-round way.

Risk enhancement: Overseas liquidity risk and China's monetary policy tightening risk

 

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