Hong Kong Stock Strategy: Hong Kong stocks stopped falling and rebounded this week. As leading state-owned enterprises in energy, telecommunications, coal and other industries successively disclosed financial reports and paid high dividends, and some listed companies continued to buy back, which boosted market sentiment. Under the influence of renewed waves in the Russian Ukrainian negotiations, fading market optimism and rising risk aversion, Hong Kong stocks weakened following the overseas market in the second half of this week.
U.S. stock strategy: the prospect of the situation in Russia and Ukraine is unclear this week. The market’s optimism about the realization of peace between the two sides in the short term has decreased, superimposed with the intensification of concerns about economic recession, and the market continues to fluctuate.
European stocks: the conflict between Russia and Ukraine continues to recur, and the inflation pressure continues to rise. European stocks are expected to maintain a volatile trend.
A shares: the top three sectors of A-Shares in the past week were real estate / building materials / banks; The sectors with the largest decline were Electronics / national defense and military industry / non-ferrous metals.
Foreign exchange: in the past week, there were doubts about the progress of Russia Ukraine negotiations, the market optimism subsided, and the demand for risk aversion increased. The US dollar showed a “V” trend this week.
Bonds: as the market is worried that the Fed’s interest rate hike will trigger the US economic recession, the US bond yield curve becomes more and more flat, and even faces upside down.
Commodities: Russia and Ukraine held peace talks in Turkey this week, and gold prices fell. Non ferrous metal price differentiation. The United States released its strategic oil reserves, putting pressure on oil prices.
Automobile: facing the challenge of many adverse factors, the industry as a whole still achieved satisfactory performance in 2021. It is believed that the difficulty in 2022 should be alleviated.
Pharmaceutical: performance continues to drive CXO sector to lead; Several biotechnology companies have entered the commercialization stage; Pay attention to the share repurchase plan of large pharmaceutical enterprises.
Real estate: according to Kerry statistics, the overall performance scale of the top 100 real estate enterprises in the first quarter decreased by 47% year-on-year. There is still pressure on the demand side, and there are signs of loosening of regulatory policies in some second tier cities.
Materials, machinery and Engineering: most segments rose this week, with industrial intermediates, metal mining and machinery leading the rise, while electrical equipment led the decline.
Consumption: over the past week, the Hang Seng essential consumption index and non essential consumption index have accumulated + 3.0% and + 3.4% respectively. The epidemic situation is repeated, and the short-term demand is still slightly insufficient.
Banking and non bank finance: the fund revenue in the non bank financial sector is outstanding. It is expected that the securities industry will have an upward trend in the future. It is recommended to Gf Securities Co.Ltd(000776) (01776. HK).
TMT: the delivery time of the chip is extended again, with an average delivery time of 26.2 weeks, an increase of 3 days compared with January.
US stock TMT: India is expected to start 5g service by the end of the year, and Japan will raise 5g coverage target; At present, the global penetration rate of 5g is still low, and its industrial chain is expected to benefit in the long term.
American stock medicine: the FDA has authorized Pfizer (PFE. US) and Modena (mRNA. US) to provide the fourth dose (second booster injection) of covid-19 vaccine for people aged 50 and over.
US stock consumption: the University of Michigan’s US consumer confidence index in March was 59.4, lower than the initial value of 59.7, the lowest level since August 2011.
