The market fell in shock on Friday afternoon, and the three indexes turned green. Overall, on Friday, stocks fell more or less, more than 3500 stocks fell, and stocks showed a general decline pattern. The turnover of Shanghai and Shenzhen stock markets was 1207.2 billion, 70.5 billion more than that of the previous trading day. On the disk, covid-19 detection, oil and gas exploitation, banking, steel, real estate and other sectors led the increase, while traditional Chinese medicine, lithium extraction from salt lakes, planting and forestry, yuancosmos and other sectors led the decline. As of Friday’s close, the Shanghai index fell 0.18%, the Shenzhen composite index fell 0.6% and the gem index fell 0.98%. The net inflow of funds from the North throughout the day was 9.335 billion yuan, including 7.091 billion yuan from the Shanghai Stock connect and 2.244 billion yuan from the Shenzhen Stock connect. The inflow of funds from the North was accelerated at the end of the day. Last week was the first trading week after the beginning of the year. All the three major indexes closed down in four trading days. The Shanghai index fell 1.66%, the Shenzhen composite index fell 3.46% and the gem index fell 6.8%.
The three major US stock indexes collectively closed down last Friday, with the Dow down 0.01% and a cumulative decline of 0.29% last week; The S & P 500 index fell 0.41% and fell 1.87% last week; The NASDAQ fell 0.96% and fell 4.53% last week. The semiconductor sector fell, Xilinx and Xianke electronics fell by more than 5%, and Riyue semiconductor and core laboratory fell by more than 4%. Tesla and NVIDIA fell more than 3%. Most of the popular Chinese concept stocks rose, pinduoduo and vipshop rose by more than 7%, iqiyi rose by more than 4%, ideal automobile, Alibaba and JD rose by more than 2%, and Baidu and huanju rose by more than 1%. Xiaopeng auto fell more than 3% and didi fell more than 4%.
At today’s morning meeting of securities companies, Central China Securities Co.Ltd(601375) said that it was not afraid of market decline and closely followed the main line of steady growth; In terms of plate opportunities, Guotai Junan Securities Co.Ltd(601211) proposed: reverse the expected period and grasp the allocation period of breeding gold; China Securities Co.Ltd(601066) reiterate the strategic allocation opportunities of the household appliance sector.
Central China Securities Co.Ltd(601375) : not afraid of market decline, stick to the main line of steady growth
In the first week of 2022, the market ushered in a black door. The main indexes fell across the board. The Shanghai Composite Index fell 1.66%, the Shenzhen Component Index fell 3.46% and the gem index fell 6.80%. The market was mainly dragged down by new energy, military industry, electronics and other technology stocks. In hindsight, the resonance of three major reasons led to the sharp decline in the first week: first, the Fed’s expectation of raising interest rates increased, the first interest rate increase may occur in March, and the number of interest rate increases in 2022 may reach three times higher than expected. This news led to the sharp decline of the NASDAQ index, which fell by 5.66% in the first week of 2022, leading to the correction of global technology stocks; Second, the central bank recovered some liquidity after a relatively stable cross year. In the first week of 2022, the central bank recovered 610 billion yuan in the open market, which had a certain impact on the market expectations; Third, the short-term listing of China Mobile has a certain diversion impact on the capital. In addition, the preparation for the implementation of the comprehensive registration system also makes investors worried about the expansion of the market. As China’s policy rhythm will be dominated by China, the Fed’s interest rate increase may only have a partial impact. With the advent of the long Spring Festival holiday and the acceleration of the steady growth policy, the central bank may adopt a moderately loose policy response. At that time, the market risk appetite will rise and focus on the main line of steady growth.
Guotai Junan Securities Co.Ltd(601211) : reversal can be expected and grasp the breeding gold allocation period
Guotai Junan Securities Co.Ltd(601211) reiterated the view of “the second wave has been started”, “the first quarter is the gold allocation period” and “the first half is better than the second half”, maintained the judgment of plate reversal since September 2021, and the improvement of pig cycle reversal is expected to continue to accelerate. The market has doubts about the clearing range of production capacity, but Guotai Junan Securities Co.Ltd(601211) believes that the elimination of breeding sows and monomer weight will promote the clearing of production capacity beyond expectations. Under the resonance of three cycles of supply, demand and inventory, the weakening pig price in the first quarter will become an important catalyst. Continue to recommend beta opportunities for large breeding plates, live pig breeding at the core, and other breeding poultry breeding, Breeding industry chain, feed, animal protection, etc.
China Securities Co.Ltd(601066) : reaffirm the strategic allocation opportunity of home appliance sector
Since October, the “policy bottom” of real estate has been realized, and the regulatory policies in some areas have been gradually relaxed. In order to ensure the soft landing of real estate and ease the pressure of systemic risks and economic growth, policies in some regions may be relaxed in stages. It is expected that the data indicators will pick up in the second half of 2022. At present, the home appliance industry has plate repair opportunities, and investors are recommended to pay attention to it. For details, please refer to the sector investment opportunities in the first quarter of 2019, which is very similar to the current external environment and industry expectations. (1. The stock price and fundamentals are at a low ebb, giving a favorable low base space for recovery and rebound; 2. Secondly, there are also policy factors that catalyze the stock price of the sector.)
in terms of valuation, the current home appliance PE is the cheapest in the consumer field. After the 2021 correction, the valuation returns to the lower range of history. comprehensively considering the growth rate, household appliance peg is competitive in the consumer sector. Combined with the growth rate (wind unanimously expected), the peg of household appliance sector will be significantly lower than 1 in the next two years, which has obvious investment cost performance in the consumer sector.
the position proportion of household appliances has reached a record low, and it is expected to undertake institutional job hopping in the future. at present, the valuations of new energy, photovoltaic, green power and other sectors have reached an all-time high. Under the concern of marginal weakening of fundamentals, institutional position adjustment may make the home appliance sector (long-term high quality, marginal improvement of Fundamentals) regain favor.
(source: financial Associated Press)
