[Jufeng viewpoint]
Monday’s A-share shock consolidation showed a pattern of strong Shanghai and weak Shenzhen. On the disk, real estate, coal, culture and media led the rise, while automobile, cement and building materials, banking, tourism and hotel, game, comprehensive industry, education, steel, port and shipping and other industries led the rise; Energy metals, batteries, small metals, wine making, wind power, power supply equipment, non-metallic materials, motors, biological products, aerospace and other industries led the decline. In terms of theme stocks, Hongmeng concept, Huawei Euler, NFT concept, longevity medicine, rental and sale rights, radio and television, virtual digital man, metauniverse, cloud games, etc. led the rise; Dexamethasone, MLCC, power battery recycling, blade battery, Baijiu, Saline Lake lithium extraction, Helicobacter pylori, pumped storage and other top down.
[technical review]
The market has entered the third wave of rising market on the weekly line. Now, after the adjustment of the third wave of rising market, the market has formed a medium-term volatile market.
In the short term, the recent external turmoil, the market fell below the lower edge of the range of 34003700 points, and the short-term market fluctuated greatly.
[hot sector]
Real estate strength: Tianjin Tianbao Infrastructure Co.Ltd(000965) 9 Lianban, Yango Group Co.Ltd(000671) , Tianjin Realty Development (Group) Co.Ltd(600322) , Cccg Real Estate Corporation Limited(000736) , Cinda Real Estate Co.Ltd(600657) , Chongqingyukaifaco.Ltd(000514) , Tianjin Tianbao Infrastructure Co.Ltd(000965) , China Fortune Land Development Co.Ltd(600340) .
The coal sector strengthened: China Shenhua Energy Company Limited(601088) , Yankuang energy rose by more than 7%, Pingmei energy and power investment energy rose by more than 5%, with Shaanxi Coal Industry Company Limited(601225) , China Coal Energy Company Limited(601898) , Zhengzhou Coal Industry & Electric Power Co.Ltd(600121) , Kailuan Energy Chemical Co.Ltd(600997) among the top gainers.
Cultural media strengthened: Hubei Radio & Television Information Network Co.Ltd(000665) , Guizhou Bc&Tv Information Network Co.Ltd(600996) , entertainment media, Meisheng Cultural & Creative Corp.Ltd(002699) , H&R Century Union Corporation(000892) limit, Duzhe Publishing&Media Co.Ltd(603999) , Guangxi Radio And Television Information Network Corporation Limited(600936) , Shaanxi Broadcast & Tv Network Intermediary(Group)Co.Ltd(600831) , Beijing Quanshi World Online Network Information Co.Ltd(002995) , etc. rose by more than 5%.
GM pulled up in the afternoon: Zhongnongfa Seed Industry Group Co.Ltd(600313) rose by the limit, Hainan Shennong Technology Co.Ltd(300189) rose by more than 6%, followed by Shandong Denghai Seeds Co.Ltd(002041) , Beijing Dabeinong Technology Group Co.Ltd(002385) , Yuan Longping High-Tech Agriculture Co.Ltd(000998) , Winall Hi-Tech Seed Co.Ltd(300087) .
[highlights inventory]
State Council: complete the raising of financial stability guarantee fund by the end of September
The State Council issued the opinions on the implementation of the key work division of the government work report, requiring the people’s Bank of China to take the lead, the national development and Reform Commission, the Ministry of justice, the Ministry of finance, the CBRC, the CSRC and the State Administration of foreign exchange to be responsible according to their respective responsibilities, complete the work related to the raising of financial stability guarantee fund by the end of September, and continue to promote it during the year.
CBRC: will guide insurance institutions to allocate more funds to equity assets
The CIRC will give full play to the advantages of long-term investment of insurance funds and guide insurance institutions to allocate more funds to equity assets. Further enrich the channels for insurance funds to participate in capital market investment. Support insurance companies to increase capital market investment, especially the stocks of high-quality listed companies, through direct investment, entrusted investment and investment in public funds. Allow insurance funds to invest in financial products issued by financial management companies, and support insurance funds to participate in the capital market relying on various professional institutions.
China US audit and supervision cooperation runs in the opposite direction, and overseas listing channels remain unblocked
On March 27, zhonggai company and investment institutions participated in a video exchange activity held by the CSRC. The meeting mainly listened to the opinions of relevant market participants on the recent situation of zhonggai. “It should be said that the regulators of China and the United States are fully aware of each other’s concerns and are working towards each other to find solutions to the problems, so as to achieve effective and sustainable cooperation as soon as possible. This is in the best interests of the capital markets of the two countries and global investors.” In view of the recent market concern about China US audit and supervision cooperation, an industry insider close to the regulatory department said.
[fund trend]
According to the statistics of Dongcai, as of the closing, the Shanghai and Shenzhen stock markets showed a net outflow of funds. On that day, the net outflow of funds from Shanghai and Shenzhen stock markets was 27.736 billion yuan, the net outflow of super large orders was 11.302 billion yuan, the net outflow of large orders was 16.435 billion yuan, the inflow of medium orders was 3.11 billion yuan, and the net inflow of small orders was 24.627 billion yuan.
[limit analysis]
Today’s trading limit was 71 and the trading limit was 36;
Today, the number of trading boards in the two cities decreased compared with the previous trading day, and the number of trading boards increased compared with the previous trading day. Daily limit data showed that market sentiment fell today compared with the previous trading day. The data show that most of the trading stocks in the two cities are concentrated in real estate development, cultural media and other sectors. The theme heat of the two cities is general and the profit-making effect is general.
[viewpoint strategy]
The three major A-share indexes collectively opened low, with the Shanghai index down 0.84%, the Shenzhen composite index down 0.86% and the gem down 0.59%. After the opening, the stock index fell rapidly, and the Shanghai index completely closed the gap that jumped on March 17. The opening of energy metals, mining, wine making, power supply equipment, non-ferrous metals, batteries, motors, wind power, aerospace and other sectors quickly released the adjustment pressure; Yuan cosmic sector pulled higher against the market; Subsequently, the real estate, coal, tourism, securities and banking sectors appeared to support the market, promoting the rebound of the Shanghai index.
In the afternoon, the stock index fell again, and the Shanghai index stepped back on 3200 points; The gem continued to dip below its early low. From the time-sharing chart, heavyweights dragged down the performance of the gem index, Contemporary Amperex Technology Co.Limited(300750) , Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , Eve Energy Co.Ltd(300014) , Shenzhen Kangtai Biological Products Co.Ltd(300601) and other heavyweights fell by about 4%. In late trading, the stock index pulled back slightly.
In the short term, we should focus on the trend of the gem. If the leading track stocks still cannot stop falling, the height of the market rebound will be limited. It is worth noting that northbound funds have become the reverse of A-Shares today, with a large net inflow.
In terms of the recent market, we still maintain the previous view. The current market is not sustainable. The Shanghai index builds a Hithink Royalflush Information Network Co.Ltd(300033) 00 point box and the gem builds a 24502750 point box. We should dare to cash in on the sudden rise of individual stocks; For stocks that have fallen sharply but have not changed their fundamentals, they can buy low.
Overall, the current situation in Ukraine, which suppresses the sentiment of A-share investors, and the impact of the Federal Reserve’s interest rate hike have been weakened. Targeted measures taken by many ministries and commissions to stabilize market expectations and boost market confidence will accelerate the construction of the market bottom. In the future, A-Shares will rebound in the form of building a box. It is suggested to focus on three main lines: first, companies with quarterly growth exceeding expectations; Second, new and old infrastructure benefiting from steady growth; Third, aviation, airport, tourism and other sectors facing the inflection point in the post epidemic era.
