Yesterday, the market fluctuated and fell throughout the day. The three major indexes fell by more than 2%. The Shanghai Composite Index fell below the integer mark of 3100 points, and the Shenzhen Composite Index and gem index hit a new low. On the disk, only the textile manufacturing sector rose, and all the other sectors fell. The brokerage sector once rose in the afternoon, but finally fell. In terms of decline, agricultural related sectors fell collectively. The total number of stocks fell by more than 10%, with more than 100 stocks falling by more than 4300%. The turnover of Shanghai and Shenzhen stock markets yesterday was 856.3 billion, 35.6 billion more than that of the previous trading day. In terms of sectors, only the textile manufacturing sector rose, while tourism, planting and forestry, chemical fertilizer, aquaculture and other sectors led the decline. As of the close, the Shanghai index fell 2.26%, the Shenzhen composite index fell 2.7% and the gem index fell 2.17%. Northbound funds bought a net 911 million against the trend all day yesterday, including 612 million in Shanghai Stock connect and 299 million in Shenzhen Stock connect.
Overnight, the three major U.S. stock indexes opened higher and closed lower. The Dow fell 1.05%, the S & P 500 index fell 1.47% and the NASDAQ fell 2.07%. Large technology stocks fell, NVIDIA fell more than 6%, Amazon and Qualcomm fell more than 3%, and Google fell more than 2%. Precious metals, energy and oil and gas sectors generally fell, with us energy falling by more than 6% and gold mining falling by more than 5%. Aviation stocks rose against the market, with United Continental Airlines up more than 9%, American Airlines and JetBlue up more than 3%. Popular Chinese concept stocks generally fell, iqiyi fell nearly 15%, Didi fell more than 9%, Jingdong, Weilai, BiliBili and Baidu fell more than 5%, Xiaopeng automobile and ideal automobile fell more than 4%, and Alibaba fell more than 3%.
At today’s morning meeting of securities companies, China International Capital Corporation Limited(601995) believes that it is estimated that the three pillars of pension are expected to bring 18-27 trillion yuan of incremental funds to the pension system; Kaiyuan Securities believes that global grain prices are rising and the prosperity of the chemical fertilizer industry is picking up Gf Securities Co.Ltd(000776) believes that it is suggested to pay attention to the consumption recovery opportunities of the “epidemic damaged chain”.
CICC: it is estimated that the three pillars of pension are expected to bring 18-27 trillion yuan of incremental funds to the pension system
China International Capital Corporation Limited(601995) believes that it is estimated that the three pillars of pension are expected to bring 18-27 trillion yuan of incremental funds to the pension system, and pay attention to the business opportunities in the era of wealth and asset management. 1) In the 1970s, the reform of pension system in the United States, including IRA and 401k, promoted the transfer of residents’ wealth to the capital market, and incremental funds promoted the rapid development of asset management and wealth u management industries. 2) Recently, the pace of China’s pension policy has accelerated significantly. After the release of the opinions, we continue to pay attention to the relevant detailed policies and reaffirm that we are on the eve of the rapid growth of China’s wealth and asset management industry. The opinions has obviously accelerated this process and is conducive to the participating institutions of the wealth and asset management industry. On the wealth management side, comprehensive wealth management institutions with significant advantages in customer channel ability and investment consulting ability; On the asset management side, we are optimistic about the medium and long-term product layout and public funds and financial subsidiaries with leading investment and research ability.
open source Securities: global grain prices rise, and the prosperity of chemical fertilizer industry rebounds
Kaiyuan Securities believes that under the background of the gradual balance between supply and demand and the increasing importance of grain, the prosperity of the chemical fertilizer industry has bottomed out and rebounded, and the price has opened an upward channel. According to the data, as of April 14, China’s urea, monoammonium phosphate, diammonium phosphate and potassium fertilizer reported 2925, 3600, 3970 and 4940 yuan / ton respectively, up 57.3%, 77.3%, 60.1% and 148.2% compared with the beginning of 2021. In addition, the price of overseas chemical fertilizer is generally higher than that of China, and the export of chemical fertilizer is profitable.
Gf Securities Co.Ltd(000776) : it is suggested to pay attention to the consumption recovery opportunities of the “epidemic damaged chain”
Gf Securities Co.Ltd(000776) believes that since the covid-19 epidemic in 2020, after each round of China’s epidemic spread to effective control, there are periodic increases and excess returns in the “epidemic damaged chain”, and the market rate of “post epidemic repair” will not be absent in this round. Compared with several rounds of Chinese epidemic impact in history, 2022 has been the most severe level since March 2020. The epidemic impact is deeper, the clearance on the supply side is deeper, the supply chain is gradually restored from suspension, the steady growth of real estate is expected to exert force, and the subsequent prevention and control radius is gradually reduced. It is recommended to pay attention to the consumption recovery opportunities of “epidemic damaged chain”, and recommend the allocation of social services / retail benefiting from the reduction of epidemic prevention radius, and optional consumption in the real estate to-C chain, such as household appliances.
