this morning, A-Shares opened low as a whole, and the gem index hit a new low in the past two years. Kechuang 50 performed slightly better. After opening low, it rose rapidly, taking the lead in turning red by nearly 3%
On the disk, the automobile industry chain collectively rose against the trend, with auto chips, driverless, tire pressure monitoring, auto parts and other sectors leading the increase; Agricultural stocks also rose against the trend as a whole, and sub sectors such as seed industry, pork and aquatic products also rose strongly one after another; Finance fell collectively, with banks, insurance and securities leading the decline.
financial stocks weakened collectively
Last weekend, the news of a comprehensive RRR reduction landed. The central bank decided to reduce the deposit reserve ratio of financial institutions by 0.25 percentage points on April 25, 2022, releasing a total of about 530 billion yuan of long-term funds.
From today’s market trend, the troika of banking, insurance and securities fell sharply. The banking sector opened low and went low, with a sharp intraday drop of more than 2%. After the opening of China Merchants Bank Co.Ltd(600036) trading, it once fell sharply, reaching a minimum of 42.78 yuan, down more than 8%, the largest decline in many years, Qilu Bank Co.Ltd(601665) , Lanzhou bank, etc; The insurance sector of securities companies also fell by nearly 3%; The brokerage sector once fell by more than 3%, and Orient Securities Company Limited(600958) fell by the limit, hitting a new low in recent one year. Guolian Securities Co.Ltd(601456) , Caida Securities Co.Ltd(600906) and others fell by more than 5%.
for the central bank’s RRR reduction, most institutions are optimistic, Northeast Securities Co.Ltd(000686) said that the RRR reduction will reduce the capital cost of financial institutions by about 6.5 billion yuan per year. According to the static calculation of the total asset scale of commercial banks at the end of 2021, the RRR reduction can form a positive support of about 0.2bp for the net interest margin of banks once again emphasizes the view that “soldiers and horses should move food and grass first, and good banks can be good for everyone”, that is, the policy is giving banks sufficient bullets, reducing the reserve requirement and reducing the floating upper limit of deposit interest rate to supplement the bullet of “price”, reducing the provision to increase profits to supplement the bullet of “quantity” of capital, and improving the bank’s credit supply capacity in a more market-oriented way in both price and quantity dimensions.
Shenwan Hongyuan Group Co.Ltd(000166) believes that the reserve requirement reduction of 25bp is weaker than expected. Meanwhile, MLF continues in the same amount, the interest rate remains unchanged, and the whole is slightly restrained, mainly due to inflationary pressure, external constraints and low necessity. In addition, the RRR reduction released a total of about 530 billion long-term funds and reduced costs by about 6.5 billion per year. From the perspective of volume and price, the monetary easing is weak. The RRR reduction is intended to release the signal of steady growth and enhance market confidence. The signal significance is greater than the practical significance Huatai Securities Co.Ltd(601688) , China International Capital Corporation Limited(601995) and other institutions also hold similar views.
successive positive auto stocks rose against the trend
automobile industry chain rose sharply against the trend today, and individual stocks lifted the tide of limit
The auto sector index opened higher and rose nearly 2%, which is the third consecutive trading day for the sector. More than 20 shares, including Zhongjie (Jiangsu) Technology Co.Ltd(301072) , Jiangsu Bojun Industrial Technology Co.Ltd(300926) 20%, Changchun Engley Automobile Industry Co.Ltd(601279) , Jiangsu Changshu Automotive Trim Group Co.Ltd(603035) , Nanjing Chervon Auto Precision Technology Co.Ltd(603982) and so on, rose by the limit or more than 10%; The auto electronics sector rose by more than 2% and also rose for three consecutive days. Nearly 10 shares, including Shanghai Shenda Co.Ltd(600626) , Harbin Viti Electronics Corp(603023) and others, rose by the limit or more than 10%; Automobile chips, driverless, tire pressure monitoring and other related sectors rose against the trend, and Ningbo Tianlong Electronics Co.Ltd(603266) , Guangdong Huafeng New Energy Technology Co.Ltd(002806) and other strong trading limits.
news: over the weekend, there was a lot of good news for the auto industry. First, the National Research Institute of economics and Baidu jointly released the Research Report on the ecological development strategy of China’s intelligent transportation industry. The report points out that in the global “intelligent revolution”, intelligent transportation is an important commanding height that is close at hand and must be grasped
The report suggests that in the construction of China’s intelligent transportation industry ecology, we should give play to the leading role of autonomous driving technology platform enterprises, support the “going global” development of China’s leading intelligent transportation enterprises and technology systems, and combine China’s super large-scale market advantages, manufacturing industry system advantages and ecological integrity advantages of intelligent transportation industry to form China’s comprehensive advantages of intelligent transportation in participating in international competition.
and Shanghai, an important city of automobile industry, also issued the guidelines for the prevention and control of the epidemic situation of resumption of work and production of industrial enterprises in Shanghai (the first edition), which requires to effectively promote the resumption of work and production of enterprises and ensure the safety and stability of the supply chain of the industrial chain on the premise of ensuring that the risk is controllable
In addition, due to the continuous hot sales of Shanxi Guoxin Energy Corporation Limited(600617) vehicles and the rise in raw material prices, Tesla, Byd Company Limited(002594) , Chery, velai and other new energy vehicles have successively issued price increases since March. After entering April, some old brand fuel car enterprises Mercedes Benz and BMW also followed suit and raised prices, involving a variety of models. In the later stage, it is expected that many brand car enterprises will raise prices. The price rise of vehicle manufacturers has a great role in promoting the performance of listed companies related to the automobile industry chain.
Guosen Securities Co.Ltd(002736) said that the auto sector recently made a sharp correction, some parts fell to a reasonable valuation level, and the medium and long-term configuration value was highlighted. We are optimistic about electric and intelligent vehicles. Energy side: Zhejiang Sanhua Intelligent Controls Co.Ltd(002050) , Ningbo Tuopu Group Co.Ltd(601689) etc; Moving end: Huizhou Desay Sv Automotive Co.Ltd(002920) , Keboda Technology Co.Ltd(603786) , Shanghai Baolong Automotive Corporation(603197) , Bethel Automotive Safety Systems Co.Ltd(603596) , etc; Interaction end: Fuyao Glass Industry Group Co.Ltd(600660) , Changzhou Xingyu Automotive Lighting Systems Co.Ltd(601799) , Foryou Corporation(002906) , Suzhou Sonavox Electronics Co.Ltd(688533) , etc; Vehicle end: SAIC, GAC, great wall, Chang’an, Byd Company Limited(002594) etc. It is suggested to pay attention to the industrial chain of lidar, integrated die casting and new energy electric drive system.
