Viewpoint: according to the PMI data for four consecutive months, the economy has rebounded, but on the whole, it is still a rebound, and the downward pressure is still large. However, the data recovery may boost the market in the short term. In addition, with the support of relatively stable fundamentals and liquidity, the market as a whole has maintained a good foundation. After the central bank lowered the reserve requirement and LPR in the fourth quarter of last year, the central bank lowered the MLF and reverse repo interest rate in the beginning of the year, and the monetary easing cycle gradually opened. Under the expectation of abundant liquidity, the market as a whole was still boosted in the short term, heavy planning is implemented, which brings good policies to the new energy sector Zte Corporation(000063) won the lawsuit and the share price rose sharply, which stimulated the valuation of the sector. Track stocks show signs of starting, which helps to activate market sentiment. However, after the continuous upward trend of the index, we should pay attention to the possible technical correction
With the rise of the overnight external market and the boost of China’s policies, the Shanghai and Shenzhen markets opened higher today. After the opening, they began to fluctuate, pulled up intermittently in the middle of the market, and dived before the closing in the morning. However, in the afternoon, with the rise of real estate and other sectors, it reached a new high in the day, and also hit a new high of oversold rebound. On the disk, beauty care once led the rise, followed by communication and real estate sectors, while food and beverage and national defense industry performed well. On the decline list, transportation weakened, steel, coal and banks fell.
In the morning, boosted by the implementation of the 14th five year plan for modern energy system, new energy sectors such as UHV, wind energy, energy storage, photovoltaic and nuclear power collectively rose on the 23rd. Boosted by the news of the introduction of the medium and long-term plan for the development of hydrogen energy industry, hydrogen energy concept stocks also ushered in a strong rise. Not only that, in the afternoon, with the resumption of trading limit of Zte Corporation(000063) , 5g sector also pulled up for a time. So far, the overall strength of the track sector is self-evident for the growth stocks, and is expected to drive the improvement of market enthusiasm.
From the perspective of heavy planning landing, the supporting role for the energy sector is relatively obvious. Although photovoltaic and wind energy sectors have been rising all the way since last year, there is a high probability of overall speculation. After the adjustment since the fourth quarter of last year, with the boost of the policy, it is a substantial positive for the leading stocks in the sector, which is also conducive to the rebound of the sector; For the communication sector, the victory of Zte Corporation(000063) and the limit of share price not only boost the sector, but also help to improve the valuation of the sector.
Therefore, we can see that whether photovoltaic, wind energy, hydrogen energy or 5g are launched intensively today, this strength is still relatively large compared with the strength of single track stocks. On the one hand, it shows that the current market sentiment is picking up and the enthusiasm for long is gradually released; On the other hand, it also shows that the market profit-making effect begins to appear, and incremental funds are expected to start to intervene. Even if there are technical adjustments in the market, the game market of individual stocks may continue.
Once again, the real estate and Baijiu sector also rose in the afternoon, bringing help to the market. However, the index did not rise rapidly, but once rose and fell. Among them, financial and other weights still have a certain drag. From this, we can also see that although the current market oversold rebound has started, the sustainability remains to be seen. Under the seesaw effect, we should also pay attention to the repetition of the market, especially after continuous upward movement, and continue to guard against short-term technical adjustment.
To sum up: after the market has entered the bottom area, we believe that the market is about to usher in a phased bottom, which is also an opportunity to consider bargain hunting. For radical investors, we can still consider buying low and adding positions in batches as a whole. For prudent investors, it is suggested to wait patiently for the possible retracement of the index before making a new decision.
