Market review: the index fluctuated at a low level, with coal real estate media leading the rise
Today’s index fluctuated at a low level. As of the close, the Shanghai index rose 0.07% to 3214.5, the Shenzhen index fell 1.02% to 1194994, and the gem index fell 1.66% to 259413. SSE 50 fell 0.11% and CSI 1000 fell 0.77%. In terms of sectors, coal (3.11%), real estate (1.99%) and media (1.4%) led the increase, while food and beverage (- 2.07%), national defense and military industry (- 1.87%) and power equipment (- 1.56%) led the decrease. The turnover of the two cities was 870386 billion yuan, a decrease of 5.21% compared with the previous trading day and 8.56% compared with the average value of the previous five days. Northbound funds bought a net 5.030 billion yuan throughout the day, including 2.866 billion yuan for Shanghai Stock connect and 2.165 billion yuan for Shenzhen Stock connect.
Market focus:
According to the data of the National Bureau of statistics, in the first two months of this year, the profits of China’s Industrial Enterprises above designated size increased by 5.0% year-on-year, and the growth rate rebounded by 0.8 percentage points compared with last December. The energy and raw materials industry has made a great contribution to the profit growth of industrial enterprises. From January to February, the profit of mining industry increased by 1.32 times year-on-year. Driven by the continuous rise in crude oil prices and higher year-on-year increase in coal prices, the profits of oil and gas exploitation, coal mining and beneficiation and other industries increased by 1.57 times and 1.55 times respectively year-on-year. The National Bureau of Statistics said that we should continue to do a good job in ensuring the supply and price of bulk commodities, effectively reduce the production costs of enterprises, especially the costs of middle and downstream enterprises, implement the supporting policies for the manufacturing industry and the tax reduction and fee reduction policies for small and micro enterprises, help enterprises solve difficulties, and promote the stable operation, quality and efficiency of the industrial economy.
Strategic suggestion: focus on the inflection point of coal energy security and marginal improvement of real estate under steady growth
The index fluctuated at a low throughout the day, and nearly 2800 stocks in the two cities fell. The net outflow of main funds was 3.479 billion yuan, and the main funds mainly flowed into medical devices, food, metauniverse, 5g and other themes. In terms of the general trend of a shares, the market consolidated after the general decline. In the medium term, it is suggested to pay attention to blue chips with reasonable valuation and stable growth sectors. As of March 28, 85 companies have released specific business data from January to February 2022. Among them, enterprises in the new energy lithium battery industry chain have excellent business conditions, significant improvement in upstream capacity and strong demand for midstream products. It is recommended to continue to pay attention to the performance, and the inflection point has not yet come in the short term.
In terms of coal sector, from the demand side, the current coal inventory of coastal terminals continues to decline, and the coal storage of some power plants is at a low level; After the temperature warms up in spring, the industrial power load increases, while the epidemic affects the operating rate in the short term, and the demand may decline. On the supply side, under the influence of the epidemic, the railway capacity load is high, and the high fluctuation of coal price may continue. Under the policy situation of steady growth, the structural difference between supply and demand in the coal industry is still worthy of attention.
In the real estate sector, the China Banking and Insurance Regulatory Commission held a special meeting on March 16 to convey, study and implement the spirit of the meeting of the financial committee of the State Council, require banking and insurance institutions to actively promote the transformation of the development mode of the real estate industry, encourage institutions to carry out M & A loans in a stable and orderly manner, focus on supporting high-quality real estate enterprises to merge and acquire high-quality projects of difficult real estate enterprises, and promote the virtuous cycle and healthy development of the real estate industry. At the same time, the relevant person in charge of the Ministry of Finance said that there were no conditions to expand the pilot cities of real estate tax reform this year, and suggested paying attention to the signs of improvement in the upstream and downstream of the real estate industry.
