Today (April 6), the Shanghai and Shenzhen stock markets opened low across the board, and then the stock index began to fluctuate. The Shenzhen Composite Index turned red at the beginning and plunged back quickly. Driven by bank stocks, the Shanghai index turned red in the afternoon and dived lower again at the end. The gem has always maintained a weak shock, and the overall market ushered in a shock consolidation pattern.
As of the close of Shanghai and Shenzhen stock markets all day, the Shanghai index rose slightly by 0.02% to 328343 points; The Shenzhen composite index fell 0.45% to 1217291 points; The gem index fell 1.24% to 263391.
From the disk point of view, the market of light index and heavy individual stocks continues, the rise and fall of industry and concept sectors are different, and the local profit-making effect still exists. In terms of industries, education, real estate, steel, traditional Chinese medicine, decoration and building materials, banking, games and other industries led the rise; In terms of theme stocks, vocational education, chicken concept, covid-19 drugs, traditional Chinese medicine concept, hair medicine, online education, electronic ID card, digital currency and other gains were higher.
In terms of capital, the central bank announced on April 6 that in order to maintain the reasonable and abundant liquidity of the banking system, the people’s Bank of China launched a 10 billion yuan reverse repurchase operation by means of interest rate bidding on April 6, 2022, with a bid winning interest rate of 2.1%. As 450 billion yuan of reverse repo expired today, the people’s Bank of China realized a net return of 440 billion yuan in the open market.
hot sector
Top 10 gainers in industry sector
Top 10 industry sector declines
Top 10 gainers in concept sector
Top 10 decline in concept sector
individual shares monitoring
Top 10 net inflow of main forces
Top 10 net outflow of main force
northbound funds
southbound funds
message surface
1. According to the news on the website of the Ministry of Commerce on the 6th, the person in charge of the service trade department of the Ministry of Commerce introduced the development of service trade from January to February 2022, saying that China’s service trade continued to maintain a good growth trend from January to February this year. The total import and export of services was 953.48 billion yuan (RMB, the same below), a year-on-year increase of 33.5%; Among them, the export of services was 467.58 billion yuan, an increase of 39.4%; Imports reached 485.9 billion yuan, an increase of 28.3%. The growth rate of service exports was 11.1 percentage points higher than that of imports, driving the deficit of service trade down 57.6% to 18.31 billion yuan, a year-on-year decrease of 24.91 billion yuan.
2. According to the securities times, in order to accelerate the digital transformation of the consumer goods industry and promote the in-depth implementation of the “three products” strategy of increasing varieties, improving quality and creating brands, the consumer goods industry department of the Ministry of industry and information technology has studied and drafted the action plan for digital “three products” of the consumer goods industry (20222025) (Draft for comments), which is now open for comments. By 2025, the consumer goods industry will significantly enhance its ability to implement the technology integration of digital “three products”, cultivate a number of new products, famous products and high-quality products in the field of consumer goods, and continuously improve its variety leadership, quality competitiveness and brand influence.
3. According to the daily economic news, on April 6, the general office of the China Banking and Insurance Regulatory Commission issued a notice on the key work of comprehensively promoting rural revitalization through banking and insurance services in 2022. We will increase agricultural credit. All banking institutions should continue to list agriculture related and inclusive agriculture related credit plans separately, strive to achieve the continuous growth of the balance of agriculture related loans of the same caliber, and achieve the growth target of differentiated inclusive agriculture related loans. The Agricultural Development Bank and large and medium-sized commercial banks should strive to realize that the growth rate of inclusive agriculture related loans is higher than the average growth rate of all loans of the bank. All banking and insurance regulatory bureaus shall formulate the growth target of inclusive agriculture related loans of legal person banking institutions within their jurisdiction in combination with the actual situation.
According to the Ministry of finance, the Ministry of economy and social development decided to issue the national debt in 2024 in the form of discount. The current treasury bond is a discount bond with a term of 182 days, which is issued at a discount price lower than the par value. The total face value of competitive bidding is 45 billion yuan, and additional bidding will be conducted for class a members.
institutional views
For the current market, Central China Securities Co.Ltd(601375) pointed out that on Wednesday, the A-share market was restrained first and then raised, with slight shock and consolidation. The Asia Pacific market fell across the board, dragging down the stock indexes of the two cities in the morning and opened low, and then fluctuated slightly. The Shanghai index gained support after exploring 3255 points. In the afternoon, with the continuous strengthening of engineering construction, banking, real estate and pharmaceutical industries, the stock index stabilized and rebounded. The Shanghai index basically fluctuated around 3260 points throughout the day. The trading volume of the two cities is 960 billion yuan, and the characteristics of stock game are significant.
It is worth noting that recently, with the gradual strengthening of recovery concepts such as real estate, engineering construction, steel and cement building materials, some funds have been attracted to continue to be long. In addition, some high dividend and undervalued blue chip stocks are obviously sought after by off-site funds, and market hotspots are actively brewing. It is expected that the short-term slight consolidation of the Shanghai index is more likely, and the short-term slight shock of the gem is more likely. Investors are advised to pay close attention to the investment opportunities in banking, real estate, engineering construction, medicine and other industries in the short term, and continue to pay attention to the investment opportunities of undervalued blue chips in the middle line.
Rongwei securities mentioned that today’s index once again tests the support of the 5-day moving average. Whether the 20-day moving average can turn upward has become an important factor in technology. Otherwise, the market is still difficult to attack with all its strength. The medium and short-term moving average of the Shenzhen composite index is more stable from a technical point of view, while the repair of the moving average shape of the Shanghai index requires a wide shock or rapid retreat in the index. On the other hand, we should pay attention to the change of trading volume. At present, with the acceleration of sector rotation and the violent vibration of the index, the valuation and fundamentals of stocks should attract the attention of investors and pay attention to avoiding poor performance and high price stocks. In terms of operation, you can look for industry leading stocks with successful bottoming and performance support, pay attention to bargain hunting and band operation. Pay attention to avoiding stocks with higher cumulative gains and controlling positions.
Xiangcai Securities believes that the second quarter of A-Shares is a time window for adjusting the position structure. Some A-share sectors have been fully adjusted and have entered the relatively undervalued area, and the valuation of some sectors is still not cheap after adjustment. At the current time point, there are three investment opportunities with high certainty in the second quarter and the whole year. 1) Investment in infrastructure sector with steady growth; 2) Pig breeding sector with pig cycle restarted in the second half of the year; 3) The banking sector with historically low valuations.
In the macro aspect, China Merchants Securities Co.Ltd(600999) pointed out that due to the possible pressure of economic data in the first quarter, steady growth has become a more urgent link. The new construction of real estate infrastructure is expected to be further accelerated, the real estate policy is expected to put more emphasis on healthy circulation, the real estate sales are expected to usher in an inflection point, and the relevant policies of new infrastructure and the actions of local governments are expected to be further strengthened. Referring to the idea of bottom reading after the historical bottom, upstream resources, post cyclical consumption of real estate and new energy infrastructure are the preferred attack direction of the market.
In terms of industry configuration, China Greatwall Securities Co.Ltd(002939) said that: (1) grasp the main line of steady growth, pay attention to policy spears such as “double carbon” and digital economy, and look for a chassis with definite profitability and acceptable valuation space. From the perspective of cost performance, banks, building materials and transportation are in the double low range of current PE valuation and PE historical quantile (calculated from January 1, 2020) and have the characteristics of “steady growth”, with strong policy driving, It is expected that the performance will remain good during the year, less affected by external environmental factors, and it is suitable to be configured as defense. This year is the first year of “counting from the east to the west”. With the successive implementation of favorable policies, the high growth of the data center industrial chain has been further confirmed and can be used as an offensive configuration.
(2) coal and petrochemical industry still have room to rise under the logical support of the situation in Russia and Ukraine. Real estate, transportation and banks highlight “stability” throughout the year, and the growth is relatively the most deterministic, which can be used as a defensive configuration.
(3) look for the most definite direction of prosperity in the long term, and continue to grasp the main line of “three new” – new energy, new manufacturing and new information. Manufacturing costs and supply chain repression will be improved, and auto parts and high-end machinery may benefit. Against the trend of globalization, with the gradual development of domestic substitution, there is still incremental space for semiconductors and IOT, but we still need to wait for opportunities in the short term.
