panel overview
On Wednesday, A-Shares opened low and went low. The Shanghai index fell more than 1% and the gem fell more than 3%. On the disk, food and beverage, tourism and hotel, wine making, logistics, beauty care, airport and other industries led the increase; Gold, real estate, steel, cement, coal, mining, battery, engineering construction, photovoltaic, wind power, petroleum, non-ferrous metals, traditional Chinese medicine and other industries led the decline. In terms of subject stock, the market share, the concept of precooked dishes, condiments, sugar substitute, community group purchase, beer concept, dairy industry, genetically modified, tax refund shops, super brands, Baijiu and new retail sales were among the top gainers. Low carbon metallurgy, rental and sale rights, horse racing concept, REITs concept, civil explosion concept, blade battery and covid-19 drugs led the decline.
message surface
Shenzhen Reform Commission meeting: strengthening the construction of digital government and promoting the reform of financial system below the provincial level
At the 25th meeting of the Central Committee for comprehensively deepening reform on the afternoon of April 19, the guiding opinions on strengthening the construction of digital government, the guiding opinions on further promoting the reform of the financial system below the provincial level, the opinions on establishing and improving the audit and evaluation index system for the departure of leading cadres’ natural resources assets, and the work plan for improving the financial support innovation system during the 14th Five Year Plan period were considered and adopted Several opinions on improving the incentive mechanism of science and technology.
Symposium on financial support for the real economy held
The meeting stressed that financial institutions should adhere to the positioning that houses are used for living, not for speculation, implement differentiated housing credit policies due to urban policies, and better meet the reasonable housing needs of home buyers. We should implement the macro Prudential Management System of real estate finance, distinguish between project risks and enterprise group risks, do not blindly withdraw, cut off and suppress loans, and maintain the stability and order of real estate financing. In accordance with the principles of marketization and rule of law, we should do a good job in the financial services of mergers and acquisitions of risk disposal projects of key real estate enterprises.
The 2022 annual meeting of Boao Forum for Asia opened today
The eyes of the world will once again focus on Boao, China. From April 20 to April 22, the 2022 annual meeting of Boao Forum for Asia with the theme of “epidemic situation and the world: jointly promoting global development and building a common future” will be held in Boao Town, Hainan Province. The annual meeting of the forum will focus on issues such as post epidemic world economic recovery and sustainable development, which are most concerned by the international community.
Jufeng viewpoint
The three major A-share indexes opened slightly lower, with the Shanghai index down 0.13%, the Shenzhen composite index down 0.12%, and the gem index down 0.54%. The smart government, digital economy, electronic ID card, digital currency and other sectors opened significantly higher stimulated by favorable conditions; Oil and gas exploitation, gold, coal, agriculture, animal husbandry, feeding and fishery and other sectors opened low. After the opening, the gem index fell by 2% due to the heavy fall of heavyweights and fell below the 2400 point integer level: the leading photovoltaic inverter Sungrow Power Supply Co.Ltd(300274) performance failed to meet the expected 20cm limit, Contemporary Amperex Technology Co.Limited(300750) fell by 7%, the market value fell back to the trillion level, and the second largest market value stock Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) fell by 8%. In the afternoon, the real estate, semiconductor, coal and other sectors fell, the gem index fell by more than 3%, and the Shenzhen Composite Index and Shanghai Composite Index fell by more than 1%.
After the sharp rebound of track stocks on Monday, there was a sharp correction for two consecutive days on Tuesday and Wednesday, which almost locked up all the bottom reading funds. This kind of disk has a great blow to long confidence. Today, the defensive sectors performed extremely well: Food and beverage, wine making, commercial department stores, agriculture, animal husbandry, feeding and fishing, etc. rose sharply one after another. These sectors may be verifying the logic of “dilemma reversal”; The real estate sector with “dilemma reversal” in the early stage is rapidly ebbing. The growth enterprise market continues to hit a new low while the Shanghai Stock Exchange index is high. It is difficult to sustain the structural market. Investors should be wary of the risk of covering the decline of heavyweights in the Shanghai stock market. Tomorrow, CNOOC will land in a shares. It is also worth paying attention to whether it will have a magnetic attraction effect on the market. Overall, the market is still at the bottom of shock, maintain a good attitude and wait for a turnaround.
Investment advice: Jufeng investment adviser believes that the factors that suppress the sentiment of A-share investors are still geopolitics, the contraction of the US dollar, China’s epidemic and other factors, and the steady growth policy will provide support for A-shares. The central bank’s announcement to cut the reserve requirement by 0.25% was widely interpreted as lower than expected by the market, but Shanghai announced to orderly promote the resumption of work and production of enterprises, weakening the recent panic of a shares; The lower than expected GDP in the first quarter strengthened the expectation of steady growth, so the market is still difficult to break the pattern of box shock. The market bottomed again, the rotation of value and growth reappeared, and the decline of heavyweights on the gem accelerated. It is expected that the market will usher in the last decline. In the medium term, bargain hunting can focus on three main lines: first, companies with quarterly growth exceeding expectations; Second, new and old infrastructure benefiting from steady growth; Third, aviation, airport, tourism and other sectors facing the inflection point in the post epidemic era. For some of the sectors that have risen sharply, they can be cashed at high prices.
