Rongwei securities Liu Sishan: Policy maintenance market bottom on the way

Today, the market opened low all day and then rushed up and fell back, and the gem index was the weakest. On the disk, the logistics sector strengthened, while the cyclical sectors such as coal and non-ferrous metals remained strong. In terms of decline, the sectors related to infrastructure and digital economy fell into adjustment. As of the close, the Shanghai index closed at 318682 points, down 0.83%, the Shenzhen index closed at 1156817 points, down 1.6%, and the gem index closed at 246684 points, down 2.25%. Overall, individual stocks fell more and rose less, and more than 3700 stocks in the two cities fell. The turnover of Shanghai and Shenzhen stock markets today was 873.4 billion, down 43.1 billion from the previous trading day.

In terms of sectors, logistics, coal, non-ferrous metals, oil and gas exploitation and other sectors led the rise, while digital currency, prefabricated buildings, cloud games, tourism and other sectors led the decline. The warehousing and logistics sector strengthened, with Jiangsu Feiliks International Logistics Inc(300240) up more than 12%, Jiangsu Xinning Modern Logistics Co.Ltd(300013) up more than 11%, Zhangjiagang Freetrade Science & Technology Group Co.Ltd(600794) up limit, Guangdong Great River Smarter Logistics Co.Ltd(002930) up limit, San Yang Ma (Chongqing) Logistics Co.Ltd(001317) , Sinotrans Limited(601598) up limit Hichain Logistics Co.Ltd(300873) rose by more than 6%. In the afternoon, the coal and oil sector rose in shock, Anyuan Coal Industry Group Co.Ltd(600397) , China Coal Energy Company Limited(601898) , Guizhou Panjiang Refined Coal Co.Ltd(600395) limit, Guanghui Energy Co.Ltd(600256) rose by more than 7%, and Shanxi Coking Coal Energy Group Co.Ltd(000983) rose by more than 6%. Smart logistics has set off a stop tidal wave, with New Trend International Logis-Tech Co.Ltd(300532) , Shanghai Shine-Link International Logistics Co.Ltd(603648) and other more than 10 stocks rose.

Although the A-share market continued to fluctuate and adjust during the year, positive signals were frequently released at the policy level, various funds were accelerating to enter the market, and market confidence was strongly stabilized. On the whole, the steady growth policy will continue to work, and the valuation advantage of the A-share market will appear day by day, which is a good opportunity for the layout of long-term funds. Therefore, there will be more and more shareholder increase and share repurchase schemes of listed companies. The economic bottom finding is still repeated, and the market as a whole is still in the process of shock bottom building. At present, only A-Shares have poor performance due to the influence of market sentiment. In the future, with the improvement of the epidemic situation, the regression of market panic and the appearance of the effect of China's policies, A-Shares will return to the upward shaking trend.

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