Get off to a good start! On Friday (April 1), the three major A-share indexes were all red. In terms of hot spots, catering, transportation and banking sectors have strengthened and attracted much attention. At the same time, funds from northbound have poured in nearly 23 billion yuan this week. Can the rebound of A-Shares continue?
As of Friday’s closing, the Shanghai Composite Index rose 0.94% to 328272 points, the Shenzhen Composite Index rose 0.91% to 1222793 points, and the gem index rose 0.28% to 266697 points; The total turnover of the two cities was 935.6 billion yuan, and the net purchase of northbound funds was 4.421 billion yuan, with a cumulative net purchase amount of 22.902 billion yuan this week. Reviewing the trend of A-Shares this week, the three major indexes rose by more than 1%. During the period of Shanghai Composite Index, the cumulative weekly increase was 2.19%, during the period of Shenzhen composite index, the cumulative weekly increase was 1.29%, and during the period of gem index, the cumulative weekly increase was 1.10%.
In terms of individual stocks, on Friday, the A-share market rose less and fell more. A total of 1958 stocks rose and 2590 stocks fell. Among them, 91 stocks closed at the daily limit and 23 stocks fell by the limit.
Trading limit of individual stocks on Friday (April 1): p align = “center” tabulation: Zhang Ying
For the trend of a shares, institutions generally said that the positive factors in the market are gradually accumulating, and this round of trend rebound is expected to continue.
Northeast Securities Co.Ltd(000686) believes that the shock is expected to continue in April, the probability of market bottom is low, and the possibility of maintaining growth related industries and some high boom industries is strong. First, in terms of external shocks, geopolitical conflicts may ease, and the constraints of the Fed’s interest rate hike on China’s liquidity are expected to ease in April. In the context of the current economic downturn, the further introduction and implementation of the steady growth policy may lead to further easing of liquidity, which does not rule out the possibility of further interest rate and reserve requirement cuts. Secondly, in terms of economic fundamentals and policy strength, although the rebound of the epidemic has had an impact on the economy, the recent steady growth policy is accelerating the introduction and implementation, and many cities further relax the real estate purchase and loan restriction policy, which is expected to support the economy in April.
YueKai Securities said that it is expected that under the hedging of foreign factors in April, the A-share shock repair market is expected to continue. The change of profit expectation will lead to the differentiation of the market. It is suggested that investors should pay more attention to individual stocks than index, and focus on the layout of performance certainty and policy power.
At the same time, institutions such as public funds and private placement also expressed optimistic views on the future market. Zhao Yuanyuan, investment director of Jianhong times, believes that the latest PMI data released in March is weak. Next, monetary, fiscal and industrial policies are expected to continue to focus on maintaining growth. In April, there is a high probability of increasing the amount of base money. Even if there is no RRR reduction, there are a considerable number of MLF renewals, and the interest rate may continue to decline. Therefore, the end of the market has begun to appear, and will maintain strong shocks until mid April.
Shen Shengcai, a researcher at ningshui capital, said that under the overweight of stable growth policy, A-Shares are expected to gradually usher in the bottom of valuation, sentiment and profitability. In the second quarter, the growth rate of A-share earnings is expected to rise quarter by quarter, further supporting the trend repair of A-share. In terms of the industry sector, the financial, infrastructure, real estate and other sectors are expected to usher in the valuation repair market. In addition, the consumer sector also deserves special attention. The average valuation is lower than the historical center, and the valuation of about 80% of consumer stocks has returned to the bottom of 2016. At present, the main factor restricting consumption is the epidemic. Once it improves, the high probability is the catalyst for the jump of consumption.
Xia Fengguang, manager of Rongzhi investment fund under private placement paipai.com, believes that recently, market confidence has gradually recovered. It is expected that the post festival market will continue the main line of recent valuation repair, cross and run through a number of theme driven hotspots, and the index also has room for further repair.
In terms of hot spots, on Friday, hotels and catering led the rise all day, port shipping performed strongly, and NFT concept, duty-free stores, scenic spots and tourism, Hainan Free Trade Zone, airport shipping and other sectors performed actively; Chinese medicine sector led the decline, with covid-19 treatment, pharmaceutical e-commerce, pharmaceutical commerce and other sectors leading the decline.
hot spot I: accommodation and catering sector soared by nearly 7% Zhejiang Ssaw Boutique Hotels Co.Ltd(301073) 20cm limit
On Friday, the trend of accommodation and catering sector was strong. As of the close, the sector rose by 6.72%, the limit of Zhejiang Ssaw Boutique Hotels Co.Ltd(301073) 20cm and the limit of Jinling Hotel Corporation Ltd(601007) , Xi’An Catering Co.Ltd(000721) and other two stocks also rose one after another.
In terms of news, the Ministry of culture and tourism issued a notice on the implementation of the relief and support policies to promote the recovery and development of tourism on March 31, which made it clear to do a good job in the landing service of the inclusive tax reduction and fee reduction policy in the field of tourism.
AVIC Securities pointed out that the offline travel industry hit hard by the epidemic has received great attention, and a number of favorable policies have fundamentally helped enterprises solve difficulties. The supply side is structurally cleared, and the demand side is suppressed by the scattered points of the epidemic in the short term. Approaching the peak tourist season of Qingming and may day, with the stability of epidemic prevention and control, the pace of industry recovery is expected to accelerate, which is good for the leading enterprises of the subdivided track. Hotel sector: the epidemic disturbs short-term performance, leading hotels expand against the trend, continue to open stores in large quantities, constantly consolidate their internal strength, and highlight the head effect. Once the travel demand is released, it will directly benefit from the recovery of the industry, the cycle reversal is in sight, and the performance elasticity is expected; Catering sector: the epidemic has brought structural subversion to the traditional catering industry, and we are optimistic about catering enterprises with innovative formats and excellent single store model that meet the changing needs of the current audience.
Rise of collective transportation stocks
On Friday, the transportation sector rose by 2.98%. Among them, eight concept stocks rose by the collective limit Nanjing Shenghang Shipping Co.Ltd(001205) two connecting sectors.
According to the statistics of CTS, the global container freight volume increased by 6.4% year-on-year in 2021, but in terms of market supply, according to alphaliner, the annual net growth rate of transport capacity was 4.5%, lower than the growth rate of demand. Superimposed with adverse factors such as epidemic situation and geopolitics, the relationship between shipping supply and demand continued to be tense, and the average value of CCFI index (China’s export container freight rate index) increased by 165.7% year-on-year.
Tianfeng Securities Co.Ltd(601162) said that the port rate is expected to continue to rise in 2022. The demand for import and export of goods rebounded, driving the rise of port rates. At the end of 2021, Ningbo Zhoushan Port Company Limited(601018) , Shanghai port and Guangzhou Port Company Limited(601228) all announced that the container rate would be increased in 2022. Considering the low valuation of some port companies, they already have investment value. Recommend Tangshan Port Group Co.Ltd(601000) with high dividend and Shanghai International Port (Group) Co.Ltd(600018) with substantial profit growth.
hot spot 3: the banking sector strengthened, up 2.58%
On Friday, the banking sector strengthened, with an increase of 2.58%. As of the close, Qilu Bank Co.Ltd(601665) limit, Jiangsu Jiangyin Rural Commercial Bank Co.Ltd(002807) , Bank Of Hangzhou Co.Ltd(600926) , Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co.Ltd(601528) , etc. all rose by more than 5%.
China Post Securities said that the intensive disclosure of the annual report helped the bank valuation repair market and continued to be optimistic about the performance of bank stocks. At present, the valuation of bank shares is generally lower than that of other industries, and it is also near the lowest valuation level in history. As the bank sector enters the intensive disclosure period of annual report in 2021, the valuation repair market of the bank sector is worth looking forward to. The steady growth policy in the second quarter will become the driving force for the performance of the banking industry in the next stage. Stocks with high growth, high-quality assets and deep business moat are expected to receive more market attention.
