Viewpoint: according to PMI data for two consecutive months, the economy has rebounded, but on the whole, it is still anti pumping, and the downward pressure is still large. However, the data recovery may boost the market in the short term. In addition, with the support of relatively stable fundamentals and liquidity, the market as a whole has maintained a good foundation. With the inflation peaking expectation strengthened and the RRR reduction expectation landed, the expectation of monetary easing increased again, bringing an overall boost to the market. Under the expectation of monetary and credit easing in the coming year, the market is also expected to gradually open a good trend. in the short term, the index has stabilized slightly after continuous adjustment, and there are still repeated under the pressure of many parties, but the overall support and boost are still in progress. Under the condition of continuing to be optimistic about the spring market, bargain hunting is still a good time for allocation.
Today, the Shanghai and Shenzhen stock markets both opened low and continued to rise after the opening. Since then, both turned red and rose, and always operated around the top of the red market. Throughout the day, the transactions between the two cities continued to exceed trillion yuan, and the net inflow of funds from the North was renewed. At one time, more than 3000 shares in the two cities rose and fell, and the market sentiment rebounded. On the disk, agriculture, forestry, animal husbandry and fishery led the rise, while coal, real estate, medicine, biology and computers led the rise, while electricity, national defense, military industry and public utilities fell.
On that day, the market ushered in a bottom recovery, which is the recovery of the recent downturn. Especially in the first week of the new year, after the market opened black, the gem experienced fighting and subject stocks fell one after another, the overall index maintained a positive trend under the support of economic fundamentals and loose expectations.
On the same day, the pharmaceutical industry and Baijiu have rebounded, especially the GEM stocks\' stabilization, which will play a great role in the rising of index. But whether it can continue, we need to continue to wait and see. However, in this process, the performance of undervalued blue chips is generally stable and has always played a certain support for the market. For example, in the financial and real estate industry chain, under the advantage of undervaluation, with the opening of the monetary easing cycle, the expectation of overall valuation improvement and make-up is still relatively strong. Moreover, their performance has also benefited from the expected boost of the "steady growth" policy, which can be described as a favorable time and place.
At present, the overall support and boost of the market remain the same, so there is not much room for decline in the withdrawal process. The market continues to focus on undervalued products, while the high and overvalued products remain despised as a whole. In addition, the spring market still exists. Although it lags behind in the short term, the periodic adjustment ushers in a better allocation opportunity. After all, the steady growth policy will also be specifically reflected, and the continuous rise of PMI leading indicators above the boom and bust line also indicates that the short-term economy has bottomed out and rebounded, which is still of great significance for the positive impact on the market.
Therefore, after the previous macro impact and capital interference in the short-term market, with the listing of China Mobile and a wave of downward adjustment of the concept of new energy, the short-term bad mood is basically released. With the support of fundamentals and liquidity, we are still optimistic about the spring situation, and bargain hunting can continue to properly allocate undervalued blue chips.
To sum up: in the short term, the market ushers in consolidation, but there is no substantive bad. With the support and boost of many parties, consolidation is a good time to bargain hunting, and investors can still consider bargain hunting for appropriate allocation. In terms of specific opportunities, it is suggested to explore from three angles: first, the "steady growth" or phased main line from the policy perspective, and the involved sectors can track building materials, construction machinery, food and beverage and household appliances; Secondly, it can also be superimposed with varieties with high attention to funds in the north, such as big finance and other value blue chips, in which it can focus on the securities sector with undervalued value and good performance; Third, continuously adjusted technologies and new energy are mainly varieties with relatively uncertain growth under the downward pressure of the economy.
(source: Jufeng Finance)
