With the closing of A-Shares on the 31st, the market ended in the first quarter of 2022. Throughout March, A-Shares rebounded slightly after a sharp decline, and the market sentiment was weak. The Shanghai Composite Index and the gem index fell 6.07% and 7.70% respectively in March. In terms of industry and sector performance, real estate and anti epidemic concept stocks showed strong performance, with electronics, computers, food and beverage and new energy industry chain leading the decline. Northbound funds also recorded a significant net outflow.
The agency believes that under the condition of insufficient market confidence, factors such as the situation in Russia and Ukraine, global “stagflation” and the rise of US bond interest rates disturbed the market, and the northward capital also changed from the previous significant net inflow to net outflow. As a result, A-Shares were under pressure and weakened. Market sentiment was not boosted until the meeting of the financial committee in mid March. At present, the market is stabilizing and weakly repaired, but the trend reversal needs to wait for further clear signals. In April, we can continue to pay attention to whether there are signals at the policy level that can boost the strength of the market.
After the “cruel” March, where are the investment opportunities in April? At present, a number of institutions have released the monthly list of gold shares. From the list of the first batch of financial institutions, such as banks and pharmaceutical companies, it can be seen that is favored by banks in April. As for the stock aspect, the ‘ Postal Savings Bank Of China Co.Ltd(601658) ‘ andother 9 shares were recommended by two securities companies at the same time
Among the stocks recommended more this time, “Zhumao” Muyuan Foods Co.Ltd(002714) and Hunan New Wellful Co.Ltd(600975) are the targets of monthly gold stocks of securities companies rarely appeared in recent one year, except Maotai and “ningwang”. Pork prices have hovered at a low level in the past year, and individual stocks in the pork sector have also experienced a significant retreat. Now, after the release of bad news, the market expects the industry to usher in a cycle reversal.
In terms of investment strategy, some institutions are cautious about the upcoming April market. Huaxin Securities believes that A-Shares may shake and grind to the bottom in April. Long and short factors at home and abroad are intertwined, and the process from the bottom of the policy to the bottom of the market may be full of twists and turns. The need to stabilize the epidemic situation and economic growth in the next quarter will be strengthened again.
However, the organization is also optimistic. The Everbright Securities Company Limited(601788) strategy team believes that the impact of various risk factors is weakening, while the positive factors of the market are gradually accumulating, and it is expected to dominate the market and perform well in April. At the macro level, the recent balance profits handed over by the central bank and the meeting of the Finance Committee held on March 16 further clarified that there may be more positive in the future at the macro level. At the micro level, some companies recently disclosed positive operating data from January to February. At the level of China US relations, on March 23, the office of the US trade representative announced that it would resume tax exemption for some imported goods from China, and China US economic and trade relations may move towards further easing in the future.
In terms of allocation direction, Everbright Securities Company Limited(601788) it is suggested to focus on industries and individual stocks whose performance may exceed expectations in the financial reporting quarter on the one hand, according to the industry distribution of companies that previously disclosed the business data from January to February, food and beverage, medicine and other consumer industries, construction, building materials and other industries with steady growth direction may have good performance on the other hand, from the comparison between the market consensus expectation and the profit growth rate of industrial enterprises from January to February, the expectation of most industries is high, while the expected growth rate of consumer goods industries such as food and beverage is closer to the profit growth rate of industrial enterprises
Everbright Securities Company Limited(601788) it is suggested to carry out investment layout according to the following two main lines:
main line 1: steady growth direction under the background of steady growth and fiscal power, the steady growth direction may be one of the most important main lines in the capital market. It is suggested to pay attention to the construction, building materials, banking, real estate and other industries in the traditional infrastructure direction, as well as the wind power, photovoltaic and other industries in the new infrastructure direction.
main line 2: consumption direction the comparative advantage of the performance of the consumer sector in 2022 may be more obvious. Suggestions: 1) high definition Baijiu and medicine. 2) Household appliances and mass consumer goods benefiting from the subsidy policy. 3) Offline consumer industries benefiting from the decline of the epidemic include aviation, airport, tourism and other industries
The “gold stock” of securities companies came in April! These stocks are among the most frequently recommended (list attached)
