On March 28, the contraction of A-Shares fluctuated. The Shanghai Stock Index finished in a narrow range, and the net purchase of funds from the North helped the index close red. The gem index was dragged down by Contemporary Amperex Technology Co.Limited(300750) and Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) declines, closing down 1.66%. Real estate stocks continue to be sought after by the capital, the strong coal sector is strong, and the stock market is in the same direction, while Baijiu, lithium, and vaccine sectors are losing more. The industry believes that the index contraction rebound is weak, and the short-term market is still at the bottom stage. During the intensive disclosure period of annual and quarterly reports, investors can focus on the main line of performance.
coal, real estate and other sectors continue to be active
On March 28, the coal index rose by more than 3%, ranking first in the industry. HENGQIANG, a strong individual stock, China Shenhua Energy Company Limited(601088) rose 7.51%, a new multi-year high, and Yankuang energy rose 7.34%, a new record high Pingdingshan Tianan Coal Mining Co.Ltd(601666) , Shanxi Antai Group Co.Ltd(600408) and others all rose by more than 4%. Real estate stocks continued to be hunted by funds, and more than 10 stocks, including Yango Group Co.Ltd(000671) , China Fortune Land Development Co.Ltd(600340) , Cccg Real Estate Corporation Limited(000736) , China World Trade Center Co.Ltd(600007) , rose by the limit China Vanke Co.Ltd(000002) , Poly Developments And Holdings Group Co.Ltd(600048) , Gemdale Corporation(600383) , China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) , Seazen Holdings Co.Ltd(601155) , Greenland Holdings Corporation Limited(600606) .
Undervalued stocks of central enterprises were strongly praised. The index of large infrastructure central enterprises rose 2% on March 28, and nine Chinese prefix stocks in the sector were collectively popular China Communications Construction Company Limited(601800) rose 4.57%, and China Mobile rose 3.33%. The oil and gas sector also rose well, Guanghui Energy Co.Ltd(600256) , Petrochina Company Limited(601857) , China Petroleum & Chemical Corporation(600028) , etc. all rose by more than 3% China Shenhua Energy Company Limited(601088) , China Petroleum & Chemical Corporation(600028) , Chongqing Department Store Co.Ltd(600729) weekend cash dividend index closed up 1.36% and recorded nine consecutive positive results.
The Baijiu, lithium batteries, vaccines and other sectors are in the process of adjustment. Lithium ore index fell by more than 3%, Tianqi Lithium Corporation(002466) fell by more than 5%, Eve Energy Co.Ltd(300014) , Ganfeng Lithium Co.Ltd(002460) , Byd Company Limited(002594) , Yunnan Energy New Material Co.Ltd(002812) , Guangzhou Tinci Materials Technology Co.Ltd(002709) fell one after another, Contemporary Amperex Technology Co.Limited(300750) fell by 3%. Baijiu index fell 2.76%. Kweichow Moutai Co.Ltd(600519) once fell more than 5% and closed down 1.7% Shanxi Xinghuacun Fen Wine Factory Co.Ltd(600809) fell more than 6%. Vaccine index, energy storage index and large aircraft index fell by more than 2%.
Overall, on March 28, individual stocks in the A-share market fell more and rose less. The Shanghai stock index closed slightly up 0.07%, the gem index fell 1.66% and the Shenzhen composite index fell 1.02%. The turnover of the two cities was 0.87 trillion yuan, a decrease from the turnover of more than 0.9 trillion yuan last day.
It is worth noting that the index fluctuated weakly on March 28, and foreign capital entered the market steadily to copy the bottom. According to wind data, northbound funds made a substantial net purchase of 5.03 billion yuan throughout the day, ending net sales for five consecutive days; Among them, the net purchase of Shanghai Stock connect was 2.866 billion yuan and that of Shenzhen Stock connect was 2.165 billion yuan.
market may enter the performance hype period
For the A-share market on March 28, Li Xiangmei, an investment consultant of Yuanda, analyzed and believed that the index covering the gap fell below the recent narrow range of shocks and all the moving averages. At present, the trend of moving averages is all bad again, and the contraction rebound is more weak. First look at the support of 3120 points below, and the large-scale decline will enter the period of accelerating the bottom. If the starting volume can rise before this position, the probability of a new low will be greatly reduced, Later focus.
China International Capital Corporation Limited(601995) believes that the short-term market may still be repeated, but the more targeted "steady growth" policy may also gradually bring about the improvement of fundamental expectations. The stage similar to the sharp decline in the previous period may have ended, and the short-term market may still be in the bottom grinding stage. Combined with the recent market adjusted valuation, which has gradually approached the level of December 2018 and the end of March 2020, CICC believes that the market opportunities in the medium-term dimension are greater than the risks. In the future, if combined with the market transaction, it may further shrink to about 700 billion yuan, and other indicators of cooling trading sentiment may be more helpful to judge the emergence of the bottom of the market stage.
"Before the trend becomes stronger, the market should first treat the rebound shock trend. The more suitable way under the shock characteristics is to dare to absorb low and not chase high." Li Xiangmei believes that the intensive disclosure period of the annual report and the first quarterly report is coming, and the market may enter the hype period of the annual report and quarterly report. At this stage, we can pay attention to the companies whose annual report performance has improved significantly and the first quarterly report performance is still good; In addition to the performance type, the value type stocks still deserve attention. Large consumption, large finance, medicine, automotive intelligence and chip semiconductor all have higher investment value.
At present, the two cities have entered the last trading week of March. For the market in April, China Securities Co.Ltd(601066) believes that the style is undervalued or will be relatively dominant, and the industry configuration mainly focuses on three directions: 1) global inflation cannot be verified in the short term, but it is more recommended to recommend varieties with hard supply gap, agriculture, forestry, animal husbandry and fishery with high odds (planting chain, pig cycle accelerating capacity removal due to rising feed costs), and pay attention to coal / aluminum; 2) In the short term, there are still related to the steady growth expected by the policy: real estate leaders and urban commercial banks; 3) There is still pressure on the growth denominator end. It is preferred to focus on the photovoltaic with upward prosperity at the molecular end and improved production chain ratio in April, as well as the military industry and medicine (CXO / in vitro testing / vaccine / traditional Chinese Medicine) with high cost performance and high prosperity at the molecular end. Pay attention to the semiconductor materials and IGBT with tight balance between supply and demand and rising prices in the first quarter.
