Key investment points
The market adjusted again. The Shanghai Composite Index closed at 3579.54 points, a weekly increase of - 1.65%, with a turnover of 2026.390 billion yuan; The Shenzhen Component Index reached 14343.65 points, with a weekly increase of - 3.46%, with a turnover of 2888.921 billion yuan; The SSE 50 Index stood at 3223.27 points, with a weekly increase of - 1.56% and a turnover of 345.309 billion yuan; The CSI 300 index reached 4822.37 points, a weekly increase of - 2.39%, with a turnover of 1354.431 billion yuan; The CSI 1000 index reached 7682.70 points, with a weekly increase of - 4.09% and a turnover of 1144.412 billion yuan; The gem composite index was 3458.39 points, with a weekly increase of - 5.74% and a turnover of 1118.335 billion yuan. Gem adjusted significantly. The trading amount increased significantly, the mood of participants was relatively stable, and the average value of fund positions fluctuated. On the whole, the overall market adjustment, especially the gem represented by small and medium market value. The market trading volume has been enlarged, and the long short game has intensified, which also reflects that the market is only divided, not uniformly pessimistic, but the choice of funds in structure. When the market returns to the area below the shock center, the downward space is limited, so it should not be too pessimistic. It just needs to wait for time. The shock pattern will continue and will rise after full adjustment. And the market shock is expected to be coming to an end, and it is only a matter of time for an upward breakthrough. We can still grasp the current trading opportunities, but due to short-term fluctuations, we should be a little cautious. The strategic layout is still a good time window.
Reduced risk appetite. The market has been significantly adjusted, especially the high-level stocks have been significantly adjusted and the low-level stocks are active. From the perspective of individual stock growth, low-level stocks such as infrastructure rose better. The larger decline is the large increase stocks and risk stocks in the early stage. From the concept index, the industry was mainly led by concepts related to oil and gas, construction and traditional Chinese medicine. The concepts at the forefront of the decline are mainly related to military industry, medicine, new energy and so on. In terms of industry, steel, real estate and other industries led the rise, while electrical equipment, military industry, non-ferrous metals and other industries performed relatively weakly. The obvious adjustment of individual stocks in the market is mainly due to the high position, reduced market risk appetite and increased volatility. The rebound of low-level industries such as steel and real estate also reflects the market mentality. However, this is only a short-term market mentality. After all, consumption and technology are the long-term main line of the market. Once market confidence is restored, funds will still return to the long-term main line. Therefore, adjustment provides a window for strategic allocation instead. At the same time, the adjustment of the new energy track leads to the re adjustment of rare earth and lithium resources in the upstream of the relevant industrial chain, which is contrary to the industry boom. Therefore, we can continue to pay attention to the repair opportunities after excessive emotion. The short-term growth of cultural media and traditional Chinese medicine is too large. Pay attention to the risk of fluctuation. From the perspective of safety, we pay attention to the industry repair opportunities of emotional overreaction. Of course, since the market is still unstable, it should not be too radical. It is more from the perspective of strategic allocation.
Cautious but not pessimistic. On the whole, the downward trend of the market at the beginning of the year is still the continuation of the market shock pattern. In the short term, the High-level Track leader has become the main driving force for the downward trend of the index, and the rebound of the low-level market has become the main hot spot of the market in the near future. The high-low switching of the market is also the embodiment of the market stock game. The market shock pattern has not changed. The overall risk is small. We just pay attention to short-term fluctuations. We are cautious but not pessimistic in strategy. The market risk appetite is reduced, and the low rebound is more concerned. The rebound of infrastructure related industrial chain can be concerned, but it also needs to be cautious. From a strategic perspective, consumption and science and technology are still the main line, paying attention to the allocation opportunities brought by the main line opportunity adjustment.
