On Monday, the trend of the three major A-share indexes differentiated, the Shanghai index fluctuated and adjusted, and the gem index and Shenzhen composite index both closed in red. As of the close, the Shanghai Composite Index closed at 319552 points, down 0.49%; The Shenzhen Component Index rose 0.37%; Gem index rose 1.11%.
On the disk, the agriculture, forestry, animal husbandry and fishery sector and auto parts sector were active, and individual stocks set off a wave of limit trading. The two popular tracks of semiconductor and photovoltaic recovered Sinolink Securities Co.Ltd(600109) believes that the resumption of work and production of Shanghai automobile industry is higher than expected, and the bottom of the sector has appeared.
resumption of work and production stocks led gains
As of yesterday’s close, Shenwan automobile industry rose 2.13% as a whole, and nearly 90% of its constituent stocks rose. Among them, more than 20 stocks including Zhongjie (Jiangsu) Technology Co.Ltd(301072) , Ningbo Fangzheng Automobile Mould Co.Ltd(300998) , Bojun technology, Shanghai Shenda Co.Ltd(600626) , Changchun Engley Automobile Industry Co.Ltd(601279) , Ningbo Jifeng Auto Parts Co.Ltd(603997) , Ningbo Tianlong Electronics Co.Ltd(603266) , etc. rose by the limit.
On the news side, after the Shanghai Municipal Commission of economy and information technology released the guidelines for the prevention and control of the epidemic situation of industrial enterprises returning to work on April 16, Saic Motor Corporation Limited(600104) said it would start the stress test of returning to work on April 18. Tesla‘s super factory in Shanghai Lingang Holdings Co.Ltd(600848) and Contemporary Amperex Technology Co.Limited(300750) Shanghai Lingang Holdings Co.Ltd(600848) base will also actively fight the epidemic and arrange various work as required.
Huaxi Securities Co.Ltd(002926) said that affected by uncontrollable factors of the epidemic, many car companies have temporarily stopped production since the end of March. With the improvement of the epidemic situation and the recovery of the supply chain, the industrial chain is expected to be repaired by both supply and demand. It is expected that the impact of short-term shutdown will be limited, and the medium and long-term development logic of the new energy vehicle industry will not be changed.
The agricultural, semiconductor and photovoltaic sectors also showed strong performance. In the agriculture, forestry, animal husbandry and fishery sector, Jinhe Biotechnology Co.Ltd(002688) , Fortune Ng Fung Food (Hebei) Co.Ltd(600965) , Shandong Xiantan Co.Ltd(002746) , Yuehai feed, Cnfc Overseas Fisheries Co.Ltd(000798) and other harvest limits; In the semiconductor and photovoltaic sectors, Trina Solar Co.Ltd(688599) rose nearly 12%, Hangzhou Silan Microelectronics Co.Ltd(600460) rose by the limit, 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) , etc.
large financial sector collective adjustment
At the same time, securities companies, banks, insurance and other large financial weight sectors have collectively adjusted. Among them, Orient Securities Company Limited(600958) fell by the limit in large volume, leading the decline of securities companies China Merchants Bank Co.Ltd(600036) fell more than 7%, putting pressure on bank stocks. In addition, the real estate sector continued to expand its decline in the afternoon, China Vanke Co.Ltd(000002) , Poly Developments And Holdings Group Co.Ltd(600048) , China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) fell together, Chongqingyukaifaco.Ltd(000514) , Cccg Real Estate Corporation Limited(000736) walked out of the “sky floor”.
China Merchants Bank Co.Ltd(600036) the turnover on that day exceeded 10 billion yuan, a new high since July 2015 China Merchants Bank Co.Ltd(600036) ‘s heavy volume decline is related to a news about the change of the bank’s management. After hours on April 18, China Merchants Bank Co.Ltd(600036) announced that after deliberation, the board of directors of the company agreed to remove Tian Huiyu from the post of China Merchants Bank Co.Ltd(600036) president and director and appoint another one. Wang Liang presides over China Merchants Bank Co.Ltd(600036) work.
Orient Securities Company Limited(600958) ‘s limit also attracted market attention. On April 17, Orient Securities Company Limited(600958) issued a share allotment announcement with a financing scale of 16.8 billion yuan. This is the second largest allotment in the history of the securities industry, second only to Citic Securities Company Limited(600030) the 27.3 billion yuan completed in March this year.
Regarding the stock price limit, Orient Securities Company Limited(600958) responded: “this allotment is a powerful move for the company to cope with the industry competition pattern and enhance its comprehensive competitiveness. It is of great significance for the company to enhance its capital strength, expand its business scale and enhance its anti risk ability. On the premise of meeting the investment direction of the raised funds, the company will make good use of the funds and improve its roe level in combination with the industry and the company’s development direction.”
Looking ahead to the future, Citic Securities Company Limited(600030) said that the operation combination of “timely and small reduction of reserve requirement + tightening of deposit pricing + unchanged policy interest rate” reflects the optimal solution of monetary policy selected by the central bank based on the comprehensive consideration of wide credit and wide currency, supporting physical and financial stability, internal balance and external balance. For the banking sector, with the secondary force of the “steady growth” policy and the orderly optimization of real estate policies, the subsequent macroeconomic and micro quality expectations are expected to continue to improve. In the long run, the bottom of the valuation of the sector is clear, and in the short term, the investment has high cost performance.
YueKai Securities said that the overall valuation of A-Shares is relatively low globally and has valuation advantages. The “steady growth” policy will continue to work, which will form a positive support for corporate profits and stock market valuation. With the gradual emergence of the utility of broad money, valuation has an expansion basis.
