The market opened high and went low yesterday. All major indexes fell and failed to make a good start to the new year, led by the gem index. Yesterday, the yellow line and white line of the time-sharing chart of the whole day index deviated from each other, the size index differentiated obviously, and the subject stocks were active. More than 100 stocks in the two cities rose by the limit or by more than 10%, while institutional stocks were weak, and nearly 50 stocks fell by more than 9%. The turnover of Shanghai and Shenzhen stock markets yesterday was 1266.4 billion, 206.2 billion compared with the previous trading day.
On the disk, aquaculture, traditional Chinese medicine, Yuan universe, digital currency and other sectors led the rise, while salt lake lithium extraction, CRO, semiconductor, power equipment, energy storage and other sectors led the decline. As of the close, the Shanghai index fell 0.2%, the Shenzhen composite index fell 0.44% and the gem index fell 2.18%. The net inflow of northbound funds for the whole day yesterday was 460 million yuan, of which the net outflow of Shanghai Stock connect was 941 million and the net inflow of Shenzhen Stock connect was 1.401 billion.
Overnight, the closing trend of the three major US stock indexes was divided. The Dow rose 0.59% to a new closing high, the S & P 500 index fell 0.06% and the NASDAQ fell 1.33%. Oil, gas and infrastructure sectors led the gains, with Murphy oil up more than 8%, Western oil and Caron oil up more than 7%, caterpillar up more than 5% and US steel up more than 3%. Most large technology stocks fell, Tesla fell more than 4%, NVIDIA fell more than 2%, and apple, Microsoft and Amazon fell more than 1%. Popular Chinese concept stocks fell, pinduoduo fell more than 11%, BiliBili fell more than 8%, ideal automobile, tal and JD fell more than 6%, iqiyi, Weilai and Xiaopeng fell more than 5%.
At today’s morning meeting of securities companies, Shanxi Securities Co.Ltd(002500) said that the two cities fluctuated at a low level and paid attention to the structural opportunities of undervalued sectors; In terms of plate opportunities, China International Capital Corporation Limited(601995) believes that the situation will turn around and is optimistic about the performance of bank stocks in 2022; For the Baijiu industry, China Securities Co.Ltd(601066) pointed out that Moutai valuation is still at a reasonable low level.
Shanxi Securities Co.Ltd(002500) : the two cities fluctuated at a low level, focusing on the structural opportunities of undervalued sectors
Shanxi Securities Co.Ltd(002500) said that in the research and judgment of the general trend of a shares, “structural bull” may be the main market feature in 2022. Under the support of liquidity, the undervalued sector may be the first to usher in repair, so it has better cost performance. Under the logic of cross cycle adjustment and “bottom recovery”, the first quarter may be a better layout period. It is suggested to focus on the structural opportunities of the undervalued sector at this stage. In terms of sectors, at present, the valuation of individual stocks in the pork breeding sector has been relatively low, and it is expected to usher in repair in the capacity removal cycle. At present, it may be a better left layout period, so it is recommended to pay attention. The cultural media sector led the rise yesterday, mainly driven by the sharp rise of the yuan universe sector, which once again prompted the current time point to implement the performance cashing ability of specific stocks based on the idea of risk return ratio, so as to avoid blindly chasing up.
China International Capital Corporation Limited(601995) : after the worst comes, we are optimistic about the performance of bank stocks in 2022
China International Capital Corporation Limited(601995) according to the research report, we are optimistic about the performance of bank stocks in 2022. The compression of Industry Valuation since 2018 is expected to be repaired. After high-quality banks experience “poverty makes them think of change”, the potential of wealth management and science and technology empowerment is released, ushering in “the turn for the better”. In terms of rhythm, it is suggested to pay attention to the policy signals released by important meetings and the market opportunities brought by economic data. It is estimated that the growth rate of net profit of covered banks may be 7.2% / 7.7% in 2022 / 2023, mainly due to the steady increase of asset delivery, the stabilization of net interest margin, the steady decrease of credit cost and the continued recovery of handling fee income. Overall, the growth rate of net profit will return to the track of steady growth after experiencing the fluctuation of epidemic impact, and the growth rate is higher than the two-year compound growth rate from 2020 to 2021 (5.2%).
China Securities Co.Ltd(601066) : Maotai valuation is still at a reasonably low level
China Securities Co.Ltd(601066) research report believes that the Baijiu industry is still in a healthy development period, the current wine enterprises channel inventory is low, the control of the terminal is strengthened, consumption promotion to promote the industry to high-quality brand concentration, Moutai Baijiu leading position will continue to enhance. The proportion of direct sales channels and new retail channels of the company will continue to increase in 2021. Under the condition of stable volume of Maotai liquor in recent two years, it is conditional to maintain an increase of 8-10% in 2022. Even if the price system remains unchanged, the growth rate will also increase month on month. At present, the valuation of Maotai corresponds to 43x in 2022. Compared with international consumer goods companies, the valuation is still at a reasonably low level.
(Financial Associated Press)
