Today (April 14), the Shanghai and Shenzhen main board index rebounded, while the gem index was slightly inferior, and the differentiation pattern was more prominent. The three major indexes opened higher in the morning. Although there was a certain decline in the morning, the two main board indexes fluctuated on the water all day, worked upward again in the afternoon, and finally closed in the red market; The gem index experienced twists and turns, diving once in the session, showing a wide shock trend as a whole, and finally closed down slightly.
In this regard, Central China Securities Co.Ltd(601375) said that thanks to the continuous lifting of heavyweights, the Shanghai index recently showed a stabilizing signal near 3140, but the trading volume of the two cities has not been effectively amplified. It is suggested that investors continue to pay attention to the changes in policy and capital. It is expected that the short-term slight shock of the Shanghai index is more likely, and the short-term slight consolidation of the gem is more likely. Investors are advised to wait and see for a while in the short term and continue to pay attention to the investment opportunities of undervalued blue chips in the middle line.
At the same time, Aijian Securities believes that the geographical conflicts are repeated, the epidemic is still under control, and the short-term uncertainty still exists, but the development trend is better. The market environment is basically stable and good, so it is not suitable to be pessimistic. Of course, uncertainties still exist, so the market mentality is still cautious, and the shock recovery will be the main rhythm. In this position, we are not sad or happy. We are more involved in market transactions, pay attention to the adjustment risk of high-level theme sectors, and pay attention to the sectors with low start signs.
sector:
I. covid-19 drugs
Guolian Securities Co.Ltd(601456) mentioned that China's epidemic prevention and control will still be the focus of market attention and investment is relatively active. We suggest to focus on the research and development progress of domestic covid-19 drugs and companies related to covid-19 detection industrial chain. Affected by the epidemic, the post epidemic construction is worth considering. It is suggested to continue to pay attention to the progress of new medical infrastructure, which is expected to increase the supply of high-quality medical resources and become the core driver of the industry. In addition, the results of the first quarter will be announced one after another. The epidemic may interfere with the performance of relevant companies. It is recommended to pay attention to companies with deterministic growth in the first quarter. Vaccine and CXO related industrial chains are still sectors with high growth, so it is recommended to continue to pay attention.
In addition, Capital Securities believes that the callback is a buying opportunity, and reiterates its optimism about covid-19 therapeutic drug industry chain. The global covid-19 epidemic still maintains a high level of more than 1 million new cases every day, and the epidemic prevention and control has a long way to go. Enlightenment from the high-level operation of the global covid-19 epidemic: prevention should take priority over treatment. Covid-19 vaccine has a significant effect on preventing severe diseases and reducing mortality. Covid-19 virus coexists with humans for a long time, and therapeutic drugs are necessary.
Guosen Securities Co.Ltd(002736) said that the performance of the pharmaceutical industry in the first quarter continued the main line of covid-19 epidemic, and we expect the vaccine and covid-19 testing business to maintain a high-profile growth; At the same time, the CXO industry will also benefit from the transfer of the global industrial chain and continue to grow rapidly. The cdmo business related to covid-19 drugs will also bring greater performance increment to relevant companies.
The agency further analyzed and focused on covid-19 main line and high-quality stocks with reasonable valuation. Covid-19 epidemic is still the biggest main line in the pharmaceutical sector. It is suggested to pay attention to the detection, small molecule drugs, traditional Chinese medicine, vaccines and other sectors related to the epidemic. In addition, the early correction range of some high-quality stocks is large, and the valuation has been quite attractive. It is suggested to make a positive layout.
II real estate development
Wanlian Securities pointed out that under the macro background of "stable growth", the fundamentals of the current real estate industry continue to bottom, and the marginal improvement policy continues. It is expected that there are still many favorable policies to be expected in the follow-up, and continue to be optimistic about the market performance of the real estate sector. It is suggested to pay attention to (1) property management companies with good fundamental performance; (2) High quality real estate enterprises with financial stability and background of central enterprises / state-owned enterprises; (3) Real estate enterprises with high-quality holding properties or transformation enterprises, or effectively form a virtuous capital cycle of "development +".
Shenyin Wanguo Securities mentioned that real estate is still the pillar industry of China's national economy, and the contribution of the industry itself and the industrial chain to GDP accounts for nearly 30%. However, at present, under the multiple regulation and financial difficulties, the impact on the economy may gradually enter the low drag stage. In view of the recent frequent voices of the government emphasizing stabilizing the economy, steady growth and preventing and controlling financial risks, while stabilizing the economy urgently needs to stabilize the real estate, it is expected that the policy repair at both ends of supply and demand of the real estate industry is expected to accelerate, and will promote the optimization of the industry pattern and further enhance the concentration, and the high-quality real estate enterprises are expected to usher in both quantity and quality.
BOC International Securities said that it was still a good allocation window period at the turn of the first and second quarters, and the expectation of policy improvement was still strengthened. It is suggested to continue to pay attention to the opportunities of the real estate sector. We suggest paying attention to four main lines: 1) leading real estate enterprises with low credit risk, smooth financing channels and high security: Poly Developments And Holdings Group Co.Ltd(600048) , Gemdale Corporation(600383) , China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) , China Vanke Co.Ltd(000002) , Longhu group and China Resources Land.
2) regional central state-owned enterprises or regional leading private enterprises with high financial report security and stable cash flow: China Construction Development International, Yuexiu real estate, Midea real estate, Hangzhou Binjiang Real Estate Group Co.Ltd(002244) .
3) under the influence of macro and industrial policies such as interest rate reduction, elastic real estate enterprises with large marginal income: Xuhui holding group, Seazen Holdings Co.Ltd(601155) , Jinke Property Group Co.Ltd(000656) .
4) the real estate post cycle property sector with strong income determination and accelerated concentration, as well as the recent credit risk mitigation of related real estate enterprises and elastic reversal: Country Garden service, Xuhui Yongsheng life, poly property, Zhonghai property and xinchengyue service.
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