April 18 was the first trading day after the central bank official announced the reduction of the reserve requirement. The trend of A-Shares was divided after they opened low. Dragged down by the financial, real estate, coal and other sectors, the Shanghai index was mainly low throughout the day, closing below 3200 points. The gem index rebounded, the two popular track stocks of semiconductor and photovoltaic rose sharply, and the Kechuang 50 index rose more than 3%, breaking through 1000 points. In the absence of foreign investment for three consecutive days, the market volume can be reduced to an 11 month low. The industry believes that whether growth stocks can rise continuously needs to be further verified by the market. In the short term, we can pay attention to relevant industries with marginal changes in policy heat.
big financial collective weakness, dawn of track stocks
On April 18, the large financial sector weakened collectively, with banks and non bank sectors leading the decline. “Yinmao” China Merchants Bank Co.Ltd(600036) rare volume fell by more than 7%, the transaction amount exceeded 10 billion yuan, and the main net outflow exceeded 1.8 billion yuan Orient Securities Company Limited(600958) closed the limit. The company issued a share allotment announcement of 16.8 billion yuan on April 17, financing the second largest share allotment in the history of the securities industry, second only to Citic Securities Company Limited(600030) the 27.3 billion yuan share allotment completed in March this year. Insurance stocks also fell, with Ping An Insurance (Group) Company Of China Ltd(601318) , China Life Insurance Company Limited(601628) , China Pacific Insurance (Group) Co.Ltd(601601) , China Pacific Insurance (Group) Co.Ltd(601601) all falling by more than 2%. The decline of financial stocks has become the main driving force for the weakening of the Shanghai index.
In addition, coal, steel, Baijiu and other sectors have been adjusted, Yankuang energy is close to the limit. The real estate sector continued to expand its decline in the afternoon, China Vanke Co.Ltd(000002) fell by more than 3%, and Greenland Holdings Corporation Limited(600606) , Gemdale Corporation(600383) , Poly Developments And Holdings Group Co.Ltd(600048) , China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) fell by more than 4% Chongqingyukaifaco.Ltd(000514) and other popular real estate stocks appeared in batches in the afternoon. After hours data showed that Gf Securities Co.Ltd(000776) Guangzhou Huangpu Avenue sold Cccg Real Estate Corporation Limited(000736) 111 million yuan, Sinolink Securities Co.Ltd(600109) Xiamen Hubin South Road sold Langold Real Estate Co.Ltd(002305) 54.54 million yuan, Huatai Securities Co.Ltd(601688) Zhenjiang Branch sold Chongqingyukaifaco.Ltd(000514) 61.81 million yuan.
Oversold track stocks showed a glimmer of dawn on April 18. The two popular tracks of semiconductor and photovoltaic recovered, Trina Solar Co.Ltd(688599) rose nearly 12%, and Hangzhou Silan Microelectronics Co.Ltd(600460) on the board, Ja Solar Technology Co.Ltd(002459) , Jingke energy, Longi Green Energy Technology Co.Ltd(601012) , Tianjin Zhonghuan Semiconductor Co.Ltd(002129) , Will Semiconductor Co.Ltd.Shanghai(603501) , Naura Technology Group Co.Ltd(002371) . In addition, the trend of breeding and auto parts is also good. The chicken industry index rose by more than 8%, and the pig industry index and biological breeding index rose by more than 4%. The auto parts index rose 3.7%, with Ningbo Jifeng Auto Parts Co.Ltd(603997) , Mingxin Automotive Leather Co.Ltd(605068) , Nanjing Chervon Auto Precision Technology Co.Ltd(603982) , Wencan Group Co.Ltd(603348) rising by the limit.
On the whole, 2848 stocks rose and 1776 stocks fell in the two cities on April 18, with a good profit-making effect. The Shanghai Composite Index closed down 0.49%; Gem index rose 1.11%; Shenzhen Composite Index rose 0.37%; Kechuang 50 reported 100461 points, up 3.21%. The volume of foreign capital transactions decreased to 78.0 trillion yuan for three consecutive months.
focus on the marginal change of short-term policy heat
“The beginning of the first trading day of this week was not very good. The central bank lowered the reserve requirement, but it did not exceed expectations, and released 530 billion yuan. Although it was not enough to greatly boost the market, it was still good for market liquidity.” Li Xiangmei, a Yuanda investment consultant, said after hours analysis on April 18 that the Shanghai index is still maintaining a shock trend in the range of 31703290 points, because the recent trading volume has shrunk, and the short and medium-term average has a strong suppression effect. If there is no large volume after the short-term shock, it does not rule out a downward trend, and pay attention to the support near 3170 points on the lower edge of the box.
On April 18, the market style changed from the recent value direction to the growth rebound of track stocks. Li Xiangmei believes: “Whether there can be a sustained rise in growth stocks needs to be further verified by the market. At present, we need to pay close attention to the trend of market style and change the strategic direction in time. With the gradual resumption of work and production after the epidemic in many places in China, the automobile related industry has rebounded. This direction has fallen by about 20% recently. It is expected to come out of a wave of rebound under the stimulation of short-term good, but from Monday, the rebound intensity is weak, waiting for a large area of relevant cities in China The news of resumption of work and production will make the oversold growth become the main direction to drive the market stronger. “
Since February 2022, the industry heat has increased relatively, and the most obvious ones are the cycle and base industries. Considering the marginal change of short-term policy heat, Citic Securities Company Limited(600030) research department pays attention to the hot spots and the change of market capital flow. It is suggested that investors pay attention to the topics related to express delivery, prefabricated vegetables, EDA, smart grid, old infrastructure and vaccine.
At the meeting of the Finance Committee in March, it was stressed that relevant departments should carefully introduce contractionary policies. Any policies that have a significant impact on the capital market should be coordinated with the financial management department in advance to maintain the stability and consistency of policy expectations Founder Securities Co.Ltd(601901) believes that the real estate, Internet and pharmaceutical sectors have been fully adjusted under the previous policy supervision. With the continuous standardization of industry development, the current policy expectation has changed marginally.
