this afternoon, the A-share market staged a startling reversal. In just half an hour after the resumption of trading in the afternoon, the Shanghai Composite Index rose about 2% from the low point and recovered the integer level of 3200 points in one fell swoop. The gem index rose even more, closing up 2.50% to recover the 2500 point integer level p align = “center” performance of major A-share indexes today
In terms of capital, foreign capital has become an important variable to promote the reversal of the afternoon index. The data showed that within half an hour from 13:04 to 13:34, the net purchase amount of northbound funds rapidly expanded from 1.7 billion yuan to 6.2 billion yuan. As of the closing, the net purchase was 9.137 billion yuan, reversing the previous continuous net sales trend.
Analysts believe that although the short-term internal and external uncertainty may bring repetition to a shares, the current asset prices may have more reflected pessimistic expectations, and the market opportunities in the medium-term dimension are gradually greater than the risks. The area where the performance of the first quarterly report exceeded expectations deserves attention. In the future, with the gradual mitigation of overseas supply risks, the tightening of liquidity and the gradual stabilization of China’s growth expectations, the growth style with high prosperity will gradually usher in a turnaround.
foreign capital sweeping goods in the afternoon
In recent years, northbound capital is widely regarded as the “wind vane” of a shares, and its annual inflow trend has a significant impact on the market investment style. At the beginning of 2022, due to the impact of overseas uncertainties, the north capital flow fluctuated in the short term. In the past March, northbound funds sold a net 45.083 billion yuan a month, the third largest monthly outflow in history.
Since April, foreign trading sentiment has remained hesitant. As of yesterday, northbound funds have been sold for four consecutive trading days. However, in this afternoon, the operation direction of foreign capital suddenly reversed.
data show that at 13:04 today, the net purchase amount of northbound funds was only 1.712 billion yuan; By 13:34, the net purchase amount of northbound funds had expanded to 6.216 billion yuan. Net purchases expanded by 4.5 billion yuan in just half an hour p align = “center” northward capital flow today
As of the closing, northbound funds had accumulated a net purchase of 9.137 billion yuan today, a new high since April, including 4.227 billion yuan for Shanghai Stock connect and 4.91 billion yuan for Shenzhen Stock connect.
Zhongtai Securities Co.Ltd(600918) metalworking analyst Zhang Han said that according to the historical resumption, the selling operation of foreign capital is generally completed in a short time, and there is rarely the phenomenon of selling for several consecutive months. Moreover, the probability of foreign capital turning in the short term is high. Historically, the next month with a net sales of more than 30 billion in a single month often shows a significant return.
“The gradual elimination of the conflict between Russia and Ukraine and the uncertainty of the epidemic situation in China also support the return of foreign capital. Therefore, for the market in April, we judge that foreign capital will become an important incremental capital and are optimistic about the stock market. At the individual stock level, we suggest paying attention to the individual stocks with more foreign capital.” Zhang Han thinksP align = “center” net monthly purchases of northbound funds since 2020
broker and Baijiu jointly lead
From the disk, , the two major weights of brokers and Baijiu have become the important force to guide the index offensive in the afternoon.
As of the closing, Shenwan securities industry rose 3.37% as a whole, with Hongta Securities Co.Ltd(601236) , Boc International (China) Co.Ltd(601696) harvest limit, Guosheng Financial Holding Inc(002670) , Chinalin Securities Co.Ltd(002945) , and China stock market news up more than 6%P align = “center” ranking of securities companies
Guosen Securities Co.Ltd(002736) said that under the expectation of steady growth, the reform of the capital market has been strengthened, which is expected to become a catalyst for the securities market. At present, Pb valuation in the securities industry has a high margin of safety. With the promotion of capital market reform and the growth of residents’ demand for wealth management, securities companies usher in new opportunities for development. In the context of capital market reform, leading securities companies have advantages in capital strength, risk management ability, research pricing ability and business layout. In addition, it is also suggested to pay attention to the unique internet securities companies and small and beautiful characteristic securities companies.
Shen Wan Baijiu index rose 5.10% today, Gansu Huangtai Wine-Marketing Industry Co.Ltd(000995) , Shanxi Xinghuacun Fen Wine Factory Co.Ltd(600809) , Anhui Golden Seed Winery Co.Ltd(600199) harvest limit, Xinjiang Yilite Industry Co.Ltd(600197) , Jiugui Liquor Co.Ltd(000799) , Luzhou Laojiao Co.Ltd(000568) rose 7%, Kweichow Moutai Co.Ltd(600519) and Wuliangye Yibin Co.Ltd(000858) rose 3.60% and 6.65% respectively. P align= “center” Baijiu sector ranking
Dong Guangyang group of Baijiu Huachang securities company said that the current freeze on the short-term consumption scenes was very obvious. Compared with 2020, the biggest difference is two points: first, the current epidemic avoided the peak season of Spring Festival, and began to spread from the first tier cities in the off-season of liquor consumption in March. Therefore, the progress of the cash withdrawal, the dynamic sales, the price and the inventory performance were all better than those in early 2020, so the adjustment effect of liquor enterprises on the epidemic situation was different. Second, the channel mentality is different, and the current wait-and-see mood is stronger.
From the valuation perspective, the current Baijiu sector valuation has been digested to a considerable extent, leading liquor enterprises have become more valuable. In March, the epidemic spread and the global liquidity contraction affected the value of Baijiu sector, which has been digested to 29 times. The relative position has been in the low level for nearly 3 years. Most of the liquor companies have been reusing 20% from the end of February.
“Although the global risk appetite affected by liquidity changes still needs to be observed at the lowest point of short-term valuation, at present, the valuation of most liquor enterprises has fallen. The most undervalued value of Maotai is more than 30 times PE, while Wuliangye Yibin Co.Ltd(000858) , Yanghe are only more than 20 times PE this year, and Laojiao and Gujing are around 30 times PE. It is estimated that the medium and long-term compound rate of return has rebounded to more than 15% Huachuang Securities pointed outP align = “center” valuation comparison of major wine enterprises, compared with March 19, 2020
first quarter report blue chip stocks are popular
another bright spot on the market today comes from blue chip stocks. After the disclosure of the performance guidelines of the first quarter report, the share prices of many companies immediately rose, and the performance of “tenfold anti epidemic stocks” Andon Health Co.Ltd(002432) was the most interesting
Before today’s trading, Andon Health Co.Ltd(002432) disclosed the performance forecast for the first quarter of 2022. The net profit in the first quarter is expected to be 14 billion yuan to 16 billion yuan, a year-on-year increase of 3670743% to 4196563%.
Andon Health Co.Ltd(002432) said that affected by the development of the epidemic in the United States, the local demand for covid-19 antigen detection kit products increased significantly. During the reporting period, ihealth US subsidiary of the company sold ihealth covid-19 antigen detection kit products through its own channels and Amazon platform, and signed major contracts and orders with customers. The increase in sales revenue of this product has made an important contribution to the company’s performance during the reporting period.
Boosted by this performance, Andon Health Co.Ltd(002432) today opened at the limit price and closed at the limit after a high shock. The latest price was 74.47 yuan / share, up 50% this year and more than 1000% since the low point in November last year.
In addition to Andon Health Co.Ltd(002432) and China Coal Energy Company Limited(601898) today, the price limit was also raised after the disclosure of the first quarter performance forecast, indicating that the main funds are closely following the first quarter performance and looking for investment opportunities that exceed the expected target.
China International Capital Corporation Limited(601995) chief strategist Wang Hanfeng said that from a comprehensive point of view, the short-term internal and external uncertainty may still bring repetition, and the A-share market is still in the bottom grinding period. However, combined with the market correction time, range and low valuation level, the current asset price may have reflected more pessimistic expectations. The stage similar to the sharp decline in the previous period may have ended, and the market opportunities in the medium-term dimension gradually outweigh the risks.
“Structurally, ‘steady growth’ may still be the main line of the market at the end of the grinding period, and the areas where the performance of the first quarter exceeded expectations also deserve attention. In the future, with the gradual easing of overseas supply risks, the tightening of liquidity and the gradual stabilization of China’s growth expectations, the growth style with high prosperity may gradually usher in a turnaround.” Wang Hanfeng stressed.
