Market trend:
The decline of the index expanded in the afternoon. As of the close, the Shanghai index fell 1.35%, the Shenzhen composite index fell 2.07% and the gem index fell 3.66% Sungrow Power Supply Co.Ltd(300274) fell by the limit, Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) fell by more than 8%, and Contemporary Amperex Technology Co.Limited(300750) fell by more than 7%. Real estate, gold, coal, steel, oil and gas and other sectors led the decline, while consumption and agriculture rose against the trend. More than 3300 stocks in the two cities fell, with a full day turnover of 820 billion yuan and a net sale of 5.287 billion yuan of funds from the north. Market differentiation is serious, the seesaw effect of the sector is obvious, and the rise of consumption and agricultural stocks generally adjusts the cyclical stocks; In the global economic downturn, even if disturbed by the war and the shrinking supply side makes the price high, the demand is poor and the price is expected to decline.
In terms of sectors, we will focus on following three sectors today:
First, the consumption sector. The performance of this sector continues to be strong today. The consumer sector is one of the few sectors with stronger performance than the market after the rise of the real estate sector; The reasons for the rise include defensive and anti inflation, especially the consumer goods that must be selected. Under the background of the current upsurge of the epidemic in China and the unstable situation abroad, the prosperity and attention of the industry have increased, with sufficient adjustment in the early stage, and there has been a significant rebound in the near future; Second, in the agricultural sector, the exports of the world’s major grain exporting countries are significantly less, and some countries in the world are unstable due to hyperinflation. The agricultural sector is still the focus of attention in the future. Although China’s grain reserves are sufficient at present, over time, the world’s grain shortage may be unavoidable. Second, the digital economy sector. In the context of the national unified market, the role of digital economy is becoming more and more prominent. Although the sector has not risen significantly recently, the trend is relatively high, and some stocks that make up the decline are obviously resistant to decline.
Outlook:
The sharp drop of the index today is related to the sharp depreciation of the yen against the US dollar, which makes the market worried about the depreciation of the RMB. The RMB has no basis for devaluation for a long time, but the short-term institutional heavy position stocks still fell sharply; The heavy asset industry has dropped significantly; The food and beverage sector was relatively resilient. Track stocks weakened further; The market risk appetite is low, and it will fall sharply if there is a little trouble. At present, many industries have prominent valuation advantages after adjustment.
