panel overview
On Monday, A-Shares opened low and went low. The gem fell more than 4%, a new low for the year, and the Shanghai index fell below 3200 points. On the disk, logistics, agriculture, animal husbandry, feeding and fishing, commercial department stores and other sectors rose against the trend; Energy metals, lithium batteries, real estate, photovoltaic, aerospace, wind power, wine making, semiconductors, electronic components, auto parts and other industries led the decline. In terms of theme stocks, transgenic, express concept, community group purchase, prefabricated vegetable concept, civil explosion concept, tax rebate store, chicken concept, aquaculture, Sino Russian trade concept and other concepts led the increase; Concept sectors such as blade battery, solid-state battery, virtual power plant, automobile chip, Huawei automobile, salt lake lithium extraction, MLCC, lease and sale rights and digital currency fell by more than 4%.
message surface
accelerate the construction of national unified market, and the top-level design is released
The opinions of the CPC Central Committee and the State Council on accelerating the construction of a national unified market was released on the 10th. The opinions put forward that we should speed up the establishment of a unified national market system and rules, break local protection and market segmentation, open up the key blocking points restricting the economic cycle, promote the smooth flow of commodity factor resources on a larger scale, accelerate the construction of an efficient, standardized, fair competition and fully open national unified market, comprehensively promote the transformation of China’s market from large to strong, and contribute to the construction of a high standard market system Provide strong support for building a high-level socialist market economic system.
insurance funds, social security funds, QFII institutions and other long-term fund positions gradually surfaced
The annual reports of Listed Companies in 2021 have entered an intensive disclosure period. As of the press time of April 10, 1399 A-share companies have disclosed their annual reports, and the position route of long-term funds such as insurance funds, social security funds and QFII institutions has gradually surfaced. Insurance capital and social security funds have a preference for the financial industry. Among their heavy positions, banking, insurance and other financial stocks occupy the majority. QFII institutions have diversified positions, and strengthen the layout of individual stocks in advanced manufacturing, non-ferrous metals and other fields.
CSRC: study and formulate a new round of action plan to improve the quality of listed companies
On April 9, Yi Huiman, chairman of the CSRC, said at the third member congress of the China Association of listed companies that the CSRC will pay close attention to studying and launching a new round of independent opening-up and pragmatic measures to comprehensively improve the competitiveness of the capital market system. We will study and formulate a new round of action plan to improve the quality of listed companies to further solve the internal obstacles and external constraints faced by Listed Companies in their high-quality development.
Jufeng viewpoint
Pre market judgment: at present, technology stocks are the leading factor for the continuous adjustment of a shares. Before they stop falling, A-Shares are difficult to get out of the consolidation and can layout the rebound opportunities of technology stocks in small positions. In addition, the theme of infrastructure construction can consider the leaders of subdivided industries such as civil explosion and construction machinery
The three major A-share indexes collectively opened low, with the Shanghai index opening down 0.37%, the Shenzhen Composite Index opening down 0.69% and the gem index opening down 1.31%. After the opening, A-Shares fell in shock: logistics, agriculture, animal husbandry, feeding and fishing, commercial department stores and other sectors performed strongly; Real estate, lithium batteries, aviation, tourism hotels, motors, new energy vehicles, photovoltaic, wind power and other sectors weakened. Lithium battery leader Contemporary Amperex Technology Co.Limited(300750) plunged 8.5% during the session, driving the collective decline of track stocks and the gem index down nearly 4%; Last week, the polarized real estate sector continued to make a sharp correction, and the Shanghai Composite Index fell below the integer level of 3200 points the concept of popular explosion that we suggested to pay attention to before the market rose sharply against the market, and we can continue to pay attention to bargain hunting
afternoon, the agriculture and Hainan sectors stimulated by the news rose sharply, but the market continued to shake and bottom , and the gem index fell by more than 4% in the afternoon, setting a new low since July 2020.
Recently, we have repeatedly stressed that 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, we pushed up the Shanghai stock index, and the willingness of OTC funds to enter the market is low. From today’s point of view, once the real estate sector turns down, the market killing force will rise again. Before the track stocks stopped falling, even if there was a structural rebound in the market, it was difficult to last today, the market fell sharply for many reasons: first, the failure of the expected reduction in the reserve requirement in the market made up for the decline in the real estate sector; Second, Weilai automobile stopped production due to the impact of the epidemic, and events such as the epidemic in Contemporary Amperex Technology Co.Limited(300750) city led to a sharp decline in the new energy vehicle industry chain; Third, CNOOC made clear the issue price and the financing scale exceeded 30 billion, putting pressure on the market
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. At the time of market adjustment, we can focus on three main lines on bargain hunting: first, companies whose quarterly growth exceeded expectations; Second, new and old infrastructure benefiting from steady growth; Third, aviation, airport, tourism and other sectors facing the inflection point in the post epidemic era. For some of the sectors that have risen sharply, the short-term can be cashed at high prices.
