Today (March 29), A-Shares continued the shock adjustment pattern. After the Shanghai and Shenzhen stock markets opened slightly higher, they gradually weakened in shock. There was a rise in intraday performance, but they suffered a rise and fall; The stock index continued to decline in the afternoon.
As of the day’s closing of Shanghai and Shenzhen stock markets, the Shanghai index fell 0.33% to 320394 points; The Shenzhen composite index fell 0.46% to 1189508; The gem index fell slightly by 0.06% to 259267.
From the disk point of view, the light index heavy stock market continues, and the local profit-making effect is general. In terms of industries, chemical fertilizer, agriculture, animal husbandry, feeding and fishing, traditional Chinese medicine, coal, medical devices, shipping ports and other industries led the increase; In terms of subject stocks, phosphorus chemical industry, aquaculture, glyphosate, transgenic, chicken concept, covid-19 detection, pork concept, titanium dioxide and agricultural planting led the rise.
In terms of funds, the central bank announced on March 29 that in order to maintain stable liquidity at the end of the quarter, on March 29, 2022, the people’s Bank of China carried out 150 billion yuan reverse repurchase operation by means of interest rate bidding, and the bid winning interest rate was 2.1%. In view of the maturity of 20 billion yuan of reverse repurchase today, the people’s Bank of China has realized a net investment of 130 billion yuan in the open market.
hot sector p align = “center” Top 10 of industry sector increase p align = “center” Top 10 of industry sector decrease p align = “center” Top 10 of concept sector increase p align = “center” Top 10 of concept sector decrease
individual stock monitoring p align = “center” Top 10 net inflow of main force p align = “center” Top 10 net outflow of main force
northbound funds
southbound funds
message surface
1. According to the news on the website of the National Energy Administration on March 29, the National Energy Administration recently studied and formulated the guidance on energy work in 2022. It is proposed to vigorously develop wind power and photovoltaic. Increase efforts to plan and build a new energy supply and consumption system based on large-scale scenery base, supported by clean, efficient, advanced and energy-saving coal power around it, and supported by stable, safe and reliable UHV power transmission and transformation lines. Optimize the layout of offshore wind power, carry out far-reaching demonstration of offshore wind power construction, and steadily promote the construction of offshore wind power bases. Actively promote the construction of water scenery complementary base. Continue to implement the development and construction of roof distributed photovoltaic in the whole county, and strengthen the supervision of the implementation. According to local conditions, organize and carry out “wind control action in thousands of villages and townships” and “Sunshine Action for thousands of families”. Make full use of the land and roof resources of oil and gas mining areas, industrial and mining areas and industrial parks to develop distributed wind power and photovoltaic. We will improve the guarantee mechanism for renewable energy power consumption, issue the weight of each province’s consumption responsibility in 2022, and improve the green power certificate system for renewable energy power generation.
2. According to the Chinese government website, the general office of the State Council issued the “14th five year plan” for the development of traditional Chinese medicine. The plan mentioned that by 2025, the health service capacity of traditional Chinese medicine will be significantly enhanced, the high-quality development policy and system of traditional Chinese medicine will be further improved, the revitalization and development of traditional Chinese medicine will achieve positive results, and its unique advantages in the construction of a healthy China will be brought into full play.
3. According to the news on the website of the Ministry of industry and information technology on March 29, the Ministry of industry and information technology publicly solicited opinions on the guidelines for the construction of intelligent manufacturing standard system in petrochemical industry (version 2022) (Draft for comments). It is proposed that by 2025, a relatively perfect intelligent manufacturing standard system for the petrochemical industry will be established, and more than 30 key standards for the petrochemical industry will be prepared and revised, basically covering basic commonalities, key petrochemical data and model technologies, key Petrochemical application technologies and other standards; For petrochemical sub industries such as crude oil processing, priority should be given to formulating standards for the application of new generation information technology in special scenarios such as production, management and service, so as to promote the wide application of intelligent manufacturing standards in the petrochemical industry.
4. According to the news from the national development and Reform Commission on March 29, from March 23 to 25, Zhao Chenxin, member of the Party group and Secretary General of the national development and Reform Commission, successively presided over the video Symposium of local, experts and industry associations on the economic situation in the first quarter, listened to the opinions of relevant units and experts on the current economic operation, difficulties and problems faced and suggestions on countermeasures, and the responsible comrades of relevant units such as the comprehensive department attended the meeting.
institutional views
For the current market, Rongwei Securities said that the market is in the anti pumping stage after reaching the bottom, and this anti pumping will be completed in the way of time for space, and the index will focus on regional shocks in the near future. For the choice of target, it is suggested to pay attention to the opportunity of oversold rebound, and the investment direction can focus on the industries with expected inflation and price rise.
Huaxin Securities pointed out that the current A-share policy bottom has been very clear, but the market bottom still needs to wait. After the pressure of internal stagnation and external inflation is eased in stages, the funds going north will fully return and trade time for space. It is expected to be in the second and third quarters. External inflation depends on crude oil prices and US bond interest rates, while internal economy depends on social integration and real estate.
Guotai Junan Securities Co.Ltd(601211) securities mentioned that the profit expectation decreases + the discount rate is expected to rise. The time for A-Shares to reverse the trend has not yet come, and the index will still fluctuate in the range. From the bottom of the policy to the bottom of the market, do a good job in defense and counterattack, rather than trend counterattack. From a strategic point of view, spring will eventually come, and we should also be ready for the coming spring. However, the premise is that investors still need to defend and wait until the demand side policies and fundamental expectations are clear. To maintain the “empty cup” mentality, the short-term market is still dominated by sideways shocks. At the same time, another important factor that cannot be ignored is the transaction structure. The rise of investors’ risk-free interest rate is making A-Shares enter the contraction game.
According to the current stock selection logic, the agency further analyzed that the focus should be on stocks with low-risk characteristics, pay attention to the intersection of undervalued value and profit improvement, and the industry selection should focus on consumption and cycle sectors. Specifically, there are three directions: 1) pro inflation & High Dividend: coal and chemical resources; 2) To G end or public investment direction: photovoltaic, wind power, power operation, power grid, construction, etc; 3) dilemma reversal and profitability certainty: pigs and Baijiu, and focus on the bottom elasticity of consumer goods and light industry in the middle part of Q2.
In addition, Cinda Securities believes that strategically, there are three core contradictions affecting allocation: the tight global interest rate environment, the overall profit center of A-share listed companies will decline compared with last year, and the economy is now between the bottom of policy and the bottom of credit. These three factors are conducive to value style, especially the style of absolute undervaluation. We believe that this style will continue in the first half of the year. It is suggested to pay strategic attention to finance, real estate and construction. Tactically, the market is still in the process of monthly rebound. It is recommended to pay attention to computer, media, military industry and medicine.
