panel overview
On Thursday, A-Shares opened low and went low. The main board of Shanghai and Shenzhen fell more than 1% and the gem fell 2%. On the disk, fertilizer, cement, building materials, coal, wine and other industries rose against the market; Real estate, agriculture, animal husbandry, feeding and fishing, mining, wind power, Internet services, traditional Chinese medicine, optical optoelectronics, chemical pharmacy, automobile, communication, semiconductor, photovoltaic, food and beverage and other industries led the decline. In terms of subject stocks, low-carbon metallurgy and phosphorus chemical industry rose against the market; Electronic ID card, digital currency, chicken concept, pork concept, covid-19 drugs, rental and sale rights, assisted reproduction, mobile payment and Huawei shengteng fell by more than 3%.
message surface
the national standing committee will deploy the timely use of monetary policy tools to more effectively support the development of the real economy
Premier Li Keqiang chaired an executive meeting of the State Council on April 6 and decided to implement a phased policy of delaying the payment of old-age insurance premiums for industries in extreme poverty, and strengthen unemployment insurance support for job stabilization and training; Deploy and timely use monetary policy tools to more effectively support the development of the real economy.
central bank solicits opinions on the financial stability law (Draft for comments): establishment of financial stability guarantee fund
In order to implement the decision and deployment of the CPC Central Committee and the State Council on preventing and resolving financial risks and improving the financial rule of law, and establish a long-term mechanism for maintaining financial stability, the people’s Bank of China, together with relevant departments, has studied and drafted the financial stability law of the people’s Republic of China (Draft for comments), which is now open to the public for comments.
fed meeting minutes release the signal of raising interest rate by 50 basis points again to support the monthly reduction of US $95 billion
The minutes of the meeting released by the Federal Reserve on Wednesday (April 6) local time showed that Fed officials discussed the plan of how to reduce the balance sheet at the meeting in March. Most Fed officials attending the meeting believed that it might be appropriate to reduce the asset ceiling of $95 billion per month, and said that it might be necessary to raise interest rates by 50 basis points once or more.
Jufeng viewpoint
In early trading, affected by the decline in the periphery, the three indexes opened lower collectively. After opening, cement, ships, Baijiu, military industry, banks and other sectors are stronger. The real estate sector ebbed after a continuous surge, and hot spots spilled out to cement, building materials, steel and other sectors. After 10 o’clock, the stock index weakened.
In the afternoon, the stock index continued to dip, with the decline of gem expanding to 2%, and the decline of Shanghai and Shenzhen main board exceeding 1%. Overall, financial and real estate callback, wind power, photovoltaic, semiconductor, lithium battery and other track sectors continued to be depressed, and the market style failed to be effectively switched. Large funds are still cautious and risk appetite is still low. However, under the environment of internal loosening and external tightening, the A-share market does not have the basis for unilateral decline.
Since late March, we have repeatedly stressed that ” current market is not sustainable. The stock index has built a Hithink Royalflush Information Network Co.Ltd(300033) 00 point box, and the gem has built a 24502750 point box. We should dare to cash in when individual stocks do not catch up with the sudden rise; for individual stocks that have fallen sharply but have not changed their fundamentals, we can buy low. Before the track stocks stop falling, even if the market rebounds, the upward space will not open. “, This judgment is still true. The hope of stopping the decline in the market is still on technology stocks and track stocks. Relying on defensive sectors such as banking, real estate, agriculture, coal and steel, the Shanghai stock index was pushed up, and the willingness of OTC funds to enter the market is low.
investment suggestions: at present, the main factors that suppress the sentiment of A-share investors have changed, from the situation in Ukraine and the Fed’s interest rate hike to the epidemic situation in China and the slowdown of economic growth. The steady expectation and steady growth policy will accelerate the construction of the market bottom. The deployment of the national standing committee to make timely use of monetary policy tools and the establishment of the financial stability guarantee fund by the central bank will provide strong support for A-Shares it is suggested to focus on three main lines: first, companies whose quarterly growth exceeds expectations; Second, new and old infrastructure benefiting from steady growth; Third, the aviation sector is facing the inflection point of the post epidemic situation and the airport sector. For some of the sectors that have risen sharply, the short-term can be cashed at high prices.
