On March 30, the three major stock indexes opened higher and walked higher. Driven by the real estate, finance, wine and other sectors, the intraday rise was strong, and the rise was further expanded in the afternoon. The Shanghai index rose nearly 2% to break through 3250 points, the Shenzhen Composite Index rose more than 3%, and the gem index rose 4% to approach 2700 points; The turnover of the two cities has been enlarged, with a full day turnover of nearly 960 billion yuan, a significant net inflow of funds from the north, and a full day net purchase of more than 10 billion yuan.
As of the close, the Shanghai index rose 1.96% to 3266.6 points, the Shenzhen Composite Index rose 3.1% to 122638 points, and the gem index rose 4.02% to 269683 points; The total turnover of the two cities was 958.4 billion yuan, and the net purchase of funds from the North was 12.726 billion yuan.
On the disk, the real estate sector broke out again, and individual stocks lifted the limit tide; Securities companies, building materials, home furnishings, wine making, construction, semiconductors, insurance and other sectors led the rise, while automobile, tourism, steel, chemical industry, banking and other sectors all rose; Coal, agriculture, oil and other sectors weakened; Water conservancy, assembly building, lithium mine, rare earth, lithium battery, energy storage, apple concept and other themes are active.
Citic Securities Company Limited(600030) said that A-Shares have returned to the normal driven by fundamentals from emotion and will enter a key period of policy development; In the past two weeks, the epidemic has had a great impact on the economy. The necessity and urgency of the steady growth policy have increased rapidly. A number of policy combinations will be gradually launched and form a joint force; In the second quarter, the economy will gradually repair, and A-Shares will gradually stabilize and enter the medium-term upward channel. First of all, the impact of the current round of China's epidemic is expected to be mainly concentrated in March to April, which has a great actual impact on the economy, or drag down the year-on-year growth rate of GDP in the first quarter by 0.5 to 1 percentage point. Secondly, the necessity and urgency of the steady growth policy have increased rapidly, and it is expected to be launched twice. The options include: increasing the support of the real estate policy, re launching the total tools of monetary policy, reducing fiscal taxes and fees and accelerating the implementation of expenditure projects, accelerating the formation of physical workload of infrastructure investment, and the implementation of local government relief plans for micro entities. Finally, the peak of external risk impact has passed, the conflict between Russia and Ukraine has become increasingly clear, and the regulatory impact of Hong Kong stocks and China concept stocks will not change the trend of medium-term repair.
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 market may still be at the bottom stage in the short term. Combined with the recent market adjustment, the valuation has gradually approached the level of December 2018 and the end of March 2020, and the market opportunities in the medium-term dimension are greater than the risks. At present, we pay attention to three directions: 1) potential support areas for policy development, including infrastructure, real estate, stable demand related industrial chains (building materials, construction, household appliances, home furnishings, etc.), brokerage finance, etc; 2) For the middle and lower reaches consumption with more adjustments, low valuation and clear medium and long-term prospects in 2021, choose stocks from bottom to top, including household appliances, light industry and household appliances, automobiles and parts, agriculture, forestry, animal husbandry and fishery, medicine, etc; 3) The manufacturing growth sector, including new energy vehicles, new energy and technology hardware semiconductors, has released some risks, and the turnaround is waiting for the marginal mitigation of overseas "inflation" risk.
