The market fluctuated and fell. The Shanghai Composite Index closed at 321124 points, up - 1.25% on a weekly basis, with a turnover of 2070493 billion yuan; The Shenzhen Component Index reached 1164857 points, with a weekly increase of - 2.60% and a turnover of 2464433 billion yuan; The SSE 50 index reached 293058 points, up 0.17% on a weekly basis, with a turnover of 331643 billion yuan; The CSI 300 index reached 418875 points, a weekly increase of - 0.99%, with a turnover of 121156 billion yuan; The CSI 1000 index reached 627507 points, with a weekly increase of - 4.57%, and the transaction amount was 984641 billion yuan; The gem composite index was 274429 points, with a weekly increase of - 4.75% and a turnover of 806045 billion yuan. The market fluctuated lower this week, the weight index was still strong, the daily transaction amount fluctuated downward, the mood of participants fell, and the average value of fund positions fell. On the whole, the market is still volatile in this region, but sentiment has weakened. Weight has become a stabilizing force in the market. The market value of small and medium-sized growth enterprises is relatively weak. The market is still in the game of stock funds and the sectors rotate. China is still trying to control the epidemic, medium and short-term uncertainty still exists, and the market mentality is more cautious, but the future expectation is still optimistic, so it is not suitable to be pessimistic here. However, it still takes time for the market to repair, and the expectation of shock recovery has not changed. 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.
Consumption is gradually getting better. In the market shock, it is still a structural feature. From the perspective of individual stock growth, the stocks with larger growth are logistics and consumer stocks, and the stocks with larger decline are mainly risk stocks and real estate stocks with better early performance. From the concept index, food and beverage, logistics and other sectors are strong, while the concept sector at the forefront of the decline is mainly related to the concept index of scientific and technological growth. In terms of industry, leisure services, food and beverage, mining and other industries led the rise, while electrical equipment, computer and other industries showed relatively weak performance. Uncertain factors have increased the downward pressure on the economy, and steady growth has become the main driving force of the market. After the infrastructure sector, consumption has gradually improved. The characteristics of hot spot rotation remain unchanged in the game of stock funds. The market has shifted from infrastructure to consumption. Emerging industries and other industries are still weak in the short term, and the fluctuation caused by capital flow will rise and disappear. The characteristic of the whole market is that market funds prefer undervalued and low-end varieties, which also reflects the cautious market mentality. The repair of valuation will be the theme of the second quarter, and the repair of emerging industries is expected to come. The stock funds will still be mainly rotating. We just need to wait patiently, but we should pay attention to avoiding high and low. In the short term, we can still focus on the sustainability of the consumption sector. At the same time, the science and technology growth sector also has rebound potential. In the long run, we believe that the rotation of consumption and technology is the main feature of the market, which will continue in the future.
Continue to wait for repair. On the whole, the market maintains a regional shock pattern with a small fluctuation range. The market environment has also changed repeatedly in the short term, but the basis of the market has not changed. In terms of policy, the management has firm intention to maintain. Although the mood fluctuates repeatedly, there is no major change. Therefore, at this time, it is more patient to wait for the repair of the market. The expectation of monetary policy is also gradually fulfilled. The expectation of future liquidity is good, which plays a strong role in supporting the market in the short term. The market is expected to maintain the shock recovery pattern, with a small range, changing time for space, and the game characteristics of stock funds remain unchanged. The main opportunity lies in the valuation repair after excessive pessimistic expectations in the early stage.
