On April 7, the stock index fell by more than 1% due to weak intraday shocks; Both the Shenzhen Composite Index and the gem index fell. The Shenzhen composite index fell by more than 1.5% and fell to 12000 points, while the gem index fell by more than 2% and fell to 2600 points; The turnover of the two cities shrank, with a full day turnover of about 920 billion yuan, more than 4000 stocks fell, and there was a slight net outflow of funds from the north.
As of the close, the Shanghai index fell 1.42% to 3236.7 points, the Shenzhen composite index fell 1.65% to 1197202 points, and the gem index fell 2.1% to 257853 points; The total turnover of the two cities was 923 billion yuan, and the net sale of funds from the North was 609 million yuan.
On the disk, the real estate sector fell sharply, and the sectors such as hotel catering, software, agriculture, tourism, medicine, semiconductor, electric power, food and beverage, insurance, banking and securities companies weakened; Digital currency, pension concept and tobacco concept all declined; The coal, wine making and lithium sectors rose slightly, while the phosphorus concept and St sectors were active against the trend.
Ping An Securities said that the current market has entered the bottom grinding stage, and the steady growth policy helps stabilize the market's short-term expectations. The CSRC's revision of the provisions on overseas listing of domestic enterprises will help stabilize the expectations of overseas Chinese stocks. However, under the economic and policy game, the market volatility may still be high. It is suggested to pay more attention to the industries and individual stocks with policy overweight support and good performance in the first quarter, such as the steady growth sector Inflation sector and subdivided high boom growth sector.
China International Capital Corporation Limited(601995) believes that the obvious market correction since March has intensively reflected the uncertainty caused by multiple macro factors. Combined with the market correction time of 13 months, the cumulative adjustment range is not low, the market has reflected more pessimistic expectations, the valuation has been at a relatively low level in history, and the implied long-term investment value is gradually emerging. Although the short-term market may still fluctuate, the stage similar to the sharp decline in the previous period may have ended, and the market opportunities in the medium-term dimension outweigh the risks. Structurally, the main line of "stable growth" may still have configuration value. In the future, with the gradual mitigation of "stagflation" risk and supply risk at the overseas macro level, the growth expectation will gradually stabilize, and the growth style with high prosperity is also worthy of gradual attention.
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.
