On the 16th, boosted by the news that the Finance Committee of the State Council held a special meeting to study the current economic situation and capital market problems, the core assets of A-Shares counterattacked across the board. As of the closing, the total market value of A-Shares increased by 2.9 trillion yuan yesterday, the gem index rose more than 5%, the Shanghai Composite Index rose 3.48%, recovered 3100 points, and the Shenzhen Component Index rose 4.02%.
a-share core assets rebounded sharply
On the disk yesterday, the core assets of A-Shares represented by Mao index and Ning portfolio worked together to drive the upward attack of Shanghai and Shenzhen stock markets. Leading new energy stocks Contemporary Amperex Technology Co.Limited(300750) rose 8.61%, and Eve Energy Co.Ltd(300014) rose more than 11%. Among the constituent stocks of Mao index, Wuxi Apptec Co.Ltd(603259) , China Merchants Bank Co.Ltd(600036) , China Tourism Group Duty Free Corporation Limited(601888) all rose by more than 6%, and Wuliangye Yibin Co.Ltd(000858) , Kweichow Moutai Co.Ltd(600519) rose by more than 4%.
Overall, the industry sector rose yesterday. The tourism concept sector was strong throughout the day. The brokerage sector started in the afternoon, and the overall brokerage index rose by more than 6%. China stock market news led the rise, closing up more than 10% Shanghai Chinafortune Co.Ltd(600621) , Boc International (China) Co.Ltd(601696) , Gf Securities Co.Ltd(000776) and other stocks rose by the limit. In Shanghai and Shenzhen stock markets, only covid-19 detection, covid-19 treatment and a few early strong sectors fell.
Sealand Securities Co.Ltd(000750) chief strategist Hu guopeng said that the rapid adjustment of the market since this year is essentially the result of the interweaving of a variety of negative factors. The network effect of information dissemination makes the accumulation and amplification of negative news, leading to the possibility of overshoot in the market.
From the follow-up interpretation, Hu guopeng believes that after the Federal Reserve's interest rate hike is implemented in March, the Federal Reserve will adopt the monetary policy idea of "watching while walking", and the most tense period of tightening expectations has passed. In terms of the conflict between Russia and Ukraine, the parties indicated that there were signs of easing. At the same time, the financial commission of the State Council held a special meeting to clarify the tone of caring for the market. After the substantial adjustment in the early stage, the valuation level of the market has decreased significantly, and there has been a good cost performance.
China Industrial Securities Co.Ltd(601377) chief strategist Zhang Qiyao said that overall, the internal and external risks are gradually easing, and the most pessimistic time is in the past. It is expected that the market will usher in a phased repair window in the next month.
Founder Securities Co.Ltd(601901) chief strategist Yan Xiang also believes that the subsequent rebound will continue, and investors can pay attention to the oversold stocks in the early stage. The performance of A-Shares in the period of sharp decline and rebound since 2008. The combination with significant reversal effect and large decline in the early stage increased significantly in the rebound. The more the combination fell in a short time, the greater the rebound.
stock index option trend sends positive signals
As the spot stock index bottomed out, the stock index option market also ushered in a big reversal. Most call options (call options) strengthened significantly, and many contracts doubled within the day; The put options (put options) that rose sharply the previous day turned downward. The 50ETF and 300etf put options expiring in March fell collectively in all contracts, and some virtual value put contracts fell by more than 90% within the day.
Taking the Shanghai 50ETF option as an example, the spot Shanghai 50ETF hit a minimum of 2.673 yesterday and closed at 2.810, with a closing increase of 4.58% and a daily amplitude of 5.55%. Such a large amplitude makes many option contracts complete the conversion between daily virtual value and real value, and cause the price fluctuation of relevant contracts.
As of yesterday's closing, the three 50ETF subscription contracts with exercise prices of 2.700, 2.750 and 2.800 due to the conversion from virtual value to real value, gained 103%, 114% and 98% intraday gains respectively; Although the 50 ETF subscription contract with an exercise price of 2.850 has not been converted into real value, it also recorded a huge increase of 103.57%, indicating that there are funds optimistic about the future performance of SSE 50.
In contrast, all put contracts of 50ETF options fell across the board. The deep virtual value put contracts with an exercise price of 2.500 plummeted by 91%, and even the flat value put contracts fell by about 70%, indicating that the trading sentiment of bearish funds is very cautious. It is worth mentioning that the maturity date of 50ETF option expiring in March is March 23, with only five trading days remaining.
Xinda futures analysis said that from the recent performance of a shares, the stock index ran out of the "deep V" trend twice last week, indicating that the "bottom line" of the market has been gradually explored.
Cinda futures reminded that the short-term stabilization of the stock market does not represent a complete reversal. In the follow-up, we still need to pay attention to whether the volume can be effectively enlarged and the trend of foreign investment.
