In early trading today, the main A-share index weakened, and the gem index and Shenzhen composite index fell by more than 1%. Pharmaceutical stocks bucked the trend and are now trading at the limit Shanghai Pharmaceuticals Holding Co.Ltd(601607) , Henan Taloph Pharmaceutical Stock Co.Ltd(600222) , China Resources Double-Crane Pharmaceutical Co.Ltd(600062) , Chongqing Pharscin Pharmaceutical Co.Ltd(002907) , Getein Biotech Inc(603387) , Jinghua Pharmaceutical Group Co.Ltd(002349) , Shanxi Panlong Pharmaceutical Group Limited By Share Ltd(002864) , etc.
In addition, the overnight oil distribution exceeded US $120, the gold price rebounded again today, and the A-share precious metals and oil sectors also performed well. Some institutions said that the increased concern about stagflation, coupled with the strong inflow of safe haven funds, has become the main driver of gold prices.
pharmaceutical stocks rose sharply against the trend
cro continues to attack
Today, medicine related sectors rose sharply, with cro, covid-19 drugs, traditional Chinese medicine and other concepts leading the rise, among which cro sector ranked first in the two cities, Henan Taloph Pharmaceutical Stock Co.Ltd(600222) , Zhejiang Yatai Pharmaceutical Co.Ltd(002370) , Kyushu pharmaceutical and others leading the rise.
With the continuous disturbance of the recent epidemic in China, covid-19 therapeutic drugs began to receive extensive attention from the market. In addition to the upstream intermediates of covid-19 therapeutic drugs, which had been stir fried by the market, covid-19 cdmo industrial chain was also favored by many institutions. The full name of the so-called cdmo is contract development manufacturing organization, which mainly outsources the research and development links and process improvement of drugs.
Among them, Heyuan biology has just been listed for the third day, with a cumulative increase of more than 100%, with the code name of “the first share of local gene therapy cdmo”.
In addition, the traditional Chinese medicine sector also continued to be active. As of press time, Chengdu Huasun Technology Group Inc.Ltd(000790) , Jinghua Pharmaceutical Group Co.Ltd(002349) pulled up the limit. Among them, Jinghua Pharmaceutical Group Co.Ltd(002349) 10 trading days recorded six limit, the latest total market value of 21.3 billion yuan.
Jinghua Pharmaceutical Group Co.Ltd(002349) 23 announced that the company signed the supplementary contract of Technology Development (cooperation) contract with Suzhou Taolue and American aspedia LLC. all parties agreed that the follow-up capital investment, R & D and commercialization of betatinib were led by Suzhou Taolue. After betatinib was put on the market, the company enjoyed 12% of its net profit.
pharmaceutical sector spring is coming
Recently, the pharmaceutical sector has been rising frequently, which has attracted market attention. Many institutions believe that the valuation level of the pharmaceutical industry sector is still at the bottom, and the current investment value of the industry is prominent.
PI Jinsong of ChuangJin Hexin Fund said that the early adjustment of the pharmaceutical sector is mainly due to the high valuation, which will be more harsh on the quarterly financial report data. In the third and fourth quarters of 2021, the performance of some leading companies slowed down, resulting in the valuation adjustment of the sector. In addition, since the second half of last year, the centralized purchase and price reduction policy has a great impact on market sentiment. From the perspective of fundamentals, the medical industry and medical insurance expenditure have maintained stable growth, and some high boom sectors have continued to grow. After a long period of adjustment, the cost performance of the sector has been relatively high.
Tianfeng Securities Co.Ltd(601162) believes that the innovative drug sector is affected by many factors. At present, the overall valuation has basically fallen back to the pre epidemic level. From a medium and long-term perspective, the valuation of the sector has returned to rationality. With the release of a number of policies related to innovative drugs, such as registration approval, medical insurance access and terminal promotion, the development of China’s innovative drug industry has entered a new stage of standardized development.
Guotai Junan Securities Co.Ltd(601211) said that the recent policy implementation of the pharmaceutical industry is still in a dense window period, the base effect dissipates and the differentiation begins to increase. At present, the market risk preference is low, which inhibits the growth varieties. It is suggested to pay attention to the varieties with high performance growth rate. For example, the performance growth promotion sector and the high boom continuation sector: CXO, medical equipment, some innovative drugs, etc.
oil and gold rise again
In the morning of March 24, the price of gold rose sharply, and the peak was close to the $1950 mark. At present, the intraday market has temporarily stabilized near the 1940 US dollar / ounce mark.
The A-share precious metal sector performed well and rose ahead in the concept sector in early trading today Shandong Gold Mining Co.Ltd(600547) , Chifeng Jilong Gold Mining Co.Ltd(600988) rose by more than 3%, and the volume of gold ETF (518880) rose by 1.2%
UOB said that in terms of gold price trend, stagflation concerns exceeded expectations that the Fed would take more radical measures. The updated price forecast of UOB shows that the price of gold may reach US $2100 per ounce in the second quarter, US $2150 in the third quarter and US $2200 in the fourth quarter.
The current gold market mainly benefits from the sharp rise in crude oil prices. Recently, the news that the EU is considering an embargo on Russian oil has once again caused market tension. Brent crude oil once again hit a high of $120 a barrel on the 23rd.
This morning, oil stocks rose together, Guanghui Energy Co.Ltd(600256) , Hunan Heshun Petroleum Co.Ltd(603353) up more than 2%.
In the face of rising oil prices, at the ministerial meeting of the international energy agency opened on the 23rd local time, International Energy Agency Director Birol said that if member states agree, they can release strategic reserves again. The 31 member countries of the International Energy Agency decided to release 60 million barrels of crude oil reserves in early March.
