How will the market interpret after the V-shaped reversal of the three major stock indexes in Shanghai and Shenzhen on March 16? Which main lines deserve attention?
From the point of view released by securities companies after hours on the same day, most securities companies believe that after continuous adjustment, the “market bottom” has been confirmed twice, and the market will usher in a phased repair window, which is expected to enter a phased rebound.
China Securities Co.Ltd(601066) Securities believes that the rebound market has started. It is expected that the strength and duration of this round of rebound will exceed the last round of counterattack after the Spring Festival and before the two sessions. Moreover, the growth style of this round of rebound is dominant, and the performance of the first quarter report is the core.
Citic Securities Company Limited(600030) believes that the “market bottom” of A-Shares has been confirmed twice, and will usher in the resonance upward of value and growth with the repair of the three deviations.
The direction of industry allocation, growth, steady growth, consumption and policy support are unanimously optimistic.
growth main line: the core is that the performance of the first quarter exceeds the expectation
Specifically, the growth main line is regarded by many securities companies as the vanguard of the rebound.
China Securities Co.Ltd(601066) securities is expected to have a dominant growth style in this round of rebound, and the first quarter performance is the core.
In terms of industry configuration, China Securities Co.Ltd(601066) Securities believes that the current market will come to the annual report + quarterly report disclosure window after the performance vacuum period, which will verify the high prosperity of the high-end manufacturing industry chain.
Among them, China Securities Co.Ltd(601066) securities suggests to focus on photovoltaic, semiconductor, military industry, automobile, battery and other industries: in terms of meso data, the sales data of new energy vehicles in February is bright, the demand for photovoltaic in the first quarter is better than expected, the semiconductor / military industry is still in the high boom range, coupled with the top decline since December 2021 and the current relatively reasonable valuation quantile, it is optimistic about its subsequent relative income performance.
Around a quarterly report, Citic Securities Company Limited(600030) also believes that the recent focus can be focused on lithium, photovoltaic, semiconductor, Baijiu, medicine, construction and so on a quarterly expected to be more than expected varieties.
Huaan Securities Co.Ltd(600909) believes that after substantial adjustment, the valuation level of the market and some industries has returned to a historically low level. The third stage of growth style is a medium-term investment opportunity for the valuation market. At present, it is a good time for layout. Specifically, Huaan Securities Co.Ltd(600909) believes that we can pay attention to the strong growth main line industries represented by new energy (vehicles) and electronics and the industries expected to benefit from valuation diffusion represented by national defense and military industry and computer.
In addition, in terms of the main line of growth, Guolian Securities Co.Ltd(601456) suggests paying attention to the theme of meta universe and Web3 0. New energy automobile industry chain, new energy and double carbon, pension and health, etc.
steady growth main line: the financial and infrastructure sector is expected to usher in valuation repair
In addition to the main line of growth, the main line of steady growth has also been mentioned by many institutions.
Looking at the extended time line, Guosen Securities Co.Ltd(002736) believes that “steady growth” is expected to concentrate in the first half of the year. According to the transmission of policy pulse to the stock market, the stock market in the second quarter is expected to usher in a better configuration window. At that time, it is expected to see the switching from “bear market thinking” to “bull market thinking”, so we can pay attention to the main lines of “steady growth” such as new and old infrastructure in sector configuration.
Huaan Securities Co.Ltd(600909) is also optimistic about the stable growth sector which is the weakest constrained by external risks. It is suggested that investors should pay attention to new and old infrastructure fields such as building materials, building decoration, urban pipe network transformation, new power grid construction, as well as real estate and banks with the beginning of the recent downturn.
In addition, focusing on the chain of steady growth, Tianfeng Securities Co.Ltd(601162) it is suggested to pay attention to nuclear power, 5g + industrial Internet, UHV, pipe gallery and water conservancy Everbright Securities Company Limited(601788) also believes that building materials, real estate and banks with stable growth direction are expected to benefit from the expansion of fiscal expenditure and the requirements of stabilizing the economy this year.
Guolian Securities Co.Ltd(601456) it is suggested to pay attention to the main lines of steady growth such as big finance, infrastructure, real estate and optional consumption; Focusing on the large infrastructure sector, Yingda Securities believes that it can focus on the prefix big blue chips in rail transit.
consumption main line: consumption recovery and price rise of mandatory consumer goods breed investment opportunities
In addition, the performance of the main line of consumption is also worth looking forward to.
Everbright Securities Company Limited(601788) believes that consumption is expected to be restored this year. The new version of COVID-19 is expected to be recovered and classified. The consumption demand is expected to be restored under the line. It is suggested that we should pay attention to the industries such as Baijiu, medicine, household appliances, aviation, airports and so on.
Huaan Securities Co.Ltd(600909) is also optimistic about the medium and long-term investment opportunities for the recovery of service consumption and the rise in the price of mandatory consumer goods, especially after the recent correction due to the impact of the epidemic.
Specifically, Huaan Securities Co.Ltd(600909) suggests that investors should pay attention to the pharmaceutical sector prepared in advance to realize the recovery of service consumption and the travel chain of airport, catering, tourism and leisure services after the repeated impact of the recent epidemic. In addition, the medium and long-term investment opportunities of rising prices of necessities also deserve attention, including dairy products, planting industry, chemical fertilizer, etc.
policy support main line: pay attention to the marginal improvement of industrial regulatory policies and the opportunities of the two sessions
Another main line mentioned by securities companies many times is the fields related to policy support.
Guolian Securities Co.Ltd(601456) it is suggested to pay attention to the main line of marginal improvement of regulatory policies in some industries such as the Internet, some industries with liberalized production capacity and some real estate enterprises.
Guosen Securities Co.Ltd(002736) is optimistic about the “digital economy” and other directions of the layout of the “two sessions”; Yingda securities also believes that pension, vocational education, assisted reproduction and other sectors of the “two sessions” layout can also be concerned.
