In the first two trading days of 2022, the Shanghai index fell by 1.23%, the Shenzhen composite index fell by 2.23% and the gem index fell by 4.85%.
On the disk on January 5, transportation facilities, household appliances, banking, yuanuniverse and other sectors led the increase, while aviation, semiconductor, electrical equipment, military industry and other sectors led the decline.
China Mobile closed up hard on the first day of returning to a, Contemporary Amperex Technology Co.Limited(300750) fell sharply
On January 5, the trillion giant China Mobile returned to a and earned enough attention on the first day. However, the opening was the "peak", and then it fell all the way, closing up only 0.52%, with a full day turnover of 15.3 billion yuan. According to the calculation of the first lot, the winning shareholders did not sell on the first day, and only made a profit of 300 yuan.
On the other side, Contemporary Amperex Technology Co.Limited(300750) fell sharply again. As of the close, the company's share price fell 3.76% to 547.50 yuan / share. Since reaching a high of 692 yuan / share on December 3, 2021, Contemporary Amperex Technology Co.Limited(300750) has closed down more than 3% in six trading days, and more than 7% on December 24, 2021. From the high point, Contemporary Amperex Technology Co.Limited(300750) share price has fallen by more than 20%.
As for the continuous decline of the market in the past two days, Chen Li, chief economist of Chuancai securities and director of the Research Institute, told Zhongxin Jingwei that from the liquidity level, on January 5, 210 billion yuan of reverse repurchase expired, and the central bank only carried out 10 billion yuan of reverse repurchase. The return of funds made the market worried; At the same time, China Mobile's A-share listing has formed a certain "siphon effect" on the market.
Yi Bin, chief strategic analyst, also said that the largest IPO of A-Shares in recent 10 years (China Mobile) has landed. From past experience, large IPOs have an impact on the market, but they are short-term. The last time China Telecom Corporation Limited(601728) returned to a shares, it also promoted the short-term adjustment of the market, and then the market gradually returned to the right track.
The sharp decline of Contemporary Amperex Technology Co.Limited(300750) also led to the general decline of stocks related to the concept of new energy. Analysts said that the rise throughout 2021 was the main factor.
Chen Li pointed out that after the rise of new energy and related concept stocks for a whole year in 2021, both the valuation and stock price are currently at a relatively high level. With the news catalyst that the subsidy standard for new energy vehicles in 2022 has declined by 30% on the basis of 2021, the sector has declined greatly and led to the decline of the index. In addition, Biden's $2 trillion bill has been shelved again recently, and the expectation of raising interest rates has also heated up. The yield of U.S. ten-year Treasury bonds has climbed again to more than 1.65%. The rise of treasury bond yield has formed a certain suppression on technology stocks.
Yang Delong, chief economist of Qianhai open source, also believes that the internal reason for the continuous correction of new energy is that the previous increase was too large, so there was profit taking. In addition, the subsidy for new energy vehicles may decrease by about 30% in 2022, which also affects the short-term performance. However, Yang Delong pointed out that new energy is the main line in 2021 and still deserves attention in 2022, because it is the general trend for new energy to replace traditional energy.
is there any market in spring? That's what the industry says
Research reports released by a number of securities companies around New Year's Day pointed out that they are optimistic about the spring market of a shares. However, there are still different opinions on whether blue chips or growth stocks are dominant. After two consecutive days of decline in a shares, can the market continue in the spring of 2022?
Yi Bin pointed out that since the release of the third quarterly report in November 2021, the optimistic expectation of the growth sector has become an important catalyst for the "winter agitation" market. With the recent gradual entry into the window period for the release of the performance forecast of listed companies, the re revision of the market expectation has also accelerated the adjustment of some boom tracks. With the gradual realization of subsequent performance, varieties that really maintain high profit growth are still expected to usher in a new round of market.
Yang Delong said that the adjustment of the A-share market for two consecutive days was led by the new energy sector with a large increase last year. Undervalued sectors, such as banking, real estate, home appliances and other sectors, rebounded better. There was a certain change in market style in the short term, and undervalued blue chips ushered in a rebound opportunity. 2022 is a big year for value investment, which is very different from 2021. 2021 is mainly the market of cyclical stocks, growth stocks and small cap stocks, and the performance of blue chips with excellent performance is relatively poor. In the new year, the main line of market investment has gradually turned to performance as the king. At the same time, the issuance of new funds may still be about 3 trillion this year, which will bring opportunities for high-quality stocks of a shares.
Hu guopeng, deputy director of Sealand Securities Co.Ltd(000750) Research Institute and chief analyst of strategy, believes that opportunities outweigh risks in January, and the three factors of economy, liquidity and policy form a resonance. Among them, the valuation expansion dominated by loose liquidity and steady growth policy is the main driving force of restlessness in spring. After the adjustment of the market, some segments of growth have begun to have cost performance, opening up room for rise for the subsequent spring agitation.
Chen Li said that on the whole, the market decline comes more from "high-low switching", not from the deterioration of fundamentals or the shift of liquidity. At the same time, the net inflow of northward funds also continues, and the space below is expected to be relatively limited.
(Zhongxin Jingwei)
