panel overview
On Friday, the trend of A-Shares was divided, the Shanghai index rebounded slightly, the gem continued to bottom, and the market trading volume shrank sharply. On the disk, textile and clothing, shipping ports, electric power, mining, insurance, commercial department stores, petroleum, shipbuilding, banking, engineering construction and other industries led the increase; Agriculture, animal husbandry, feeding and fishing, tourism and hotels, pesticides and veterinary drugs, semiconductors, food and beverage, education, chemical fertilizer, cultural media, games and other industries led the decline. In terms of subject stocks, depreciation benefits, tax rebate stores, green power, c2m concept, oil and gas equipment and services, pumped storage, horse racing concept, sub new shares, natural gas and new retail led the increase; The concept of prefabricated vegetables, locust control, aquaculture, transgenic, agricultural planting, pork concept, rural revitalization, community group purchase, dairy industry, etc. led the decline.
message surface
CSRC: speed up the formulation and introduction of supporting rules and systems for individual pension investment in public funds
The opinions of the general office of the State Council on promoting the development of individual pensions was issued on April 21. The CSRC said on the same day that in the next step, it will speed up the formulation and introduction of supporting rules and systems for individual pension investment in public funds, improve the construction of infrastructure platform and optimize the market environment for medium and long-term funds; Continue to strengthen the supervision of institutions and employees, improve the management ability and standardized operation level of managers, strengthen investor protection, ensure the safety and standardization of pension investment and operation, and promote the high-quality development of individual pensions.
Fang Xinghai: IPO pricing ability should be improved, and the net inflow of foreign capital this year is considerable
Fang Xinghai introduced that in the past three years, from 2019 to 2021, the stock market has introduced a total of 887.4 billion yuan of foreign capital, accounting for about 4.5% of the circulating market value of a shares, which is still low. In South Korea and Japan, foreign capital accounts for 20% - 30% of the circulating market value of the stock market, and there is a lot of room for China to rise. "The net inflow of foreign capital this year will also be considerable. Foreign capital has long-term and lasting confidence in China." Fang Xinghai said.
The individual pension system is expected to be implemented: or implemented step by step, with an annual ceiling of 12000 yuan per person
Shanghai Securities News reporter learned from the industry that the personal pension related system that has attracted much attention is expected to be implemented in the near future. This indicates that a new era of "individual pension", characterized by government policy support, individual voluntary participation and market-oriented operation, which is connected with basic endowment insurance and enterprise (occupational) annuity, is about to open, which is of milestone significance for improving the multi-level and multi pillar endowment insurance system.
Jufeng viewpoint
The three major A-share indexes opened lower, with agriculture, tourism and education leading the decline. On the 21st, CNOOC Limited the price of new shares listed, driving the rebound of Chinese prefix and secondary new shares. Insurance, securities, banking, textile and other strong sectors continued to rise yesterday, and the Shanghai index took the lead in stabilizing and recovering. Wind power, lithium battery and other track stocks rebounded, and Contemporary Amperex Technology Co.Limited(300750) soared by 3% in the annual report, which once made the gem index red; 10: After 30, the semiconductor sector fell again, dragging down the performance of the gem.
In the afternoon, electricity, oil, the concept of devaluation benefits, commercial retail and other sectors rose, the three major indexes turned red one after another, and the Shanghai composite index once stood at 3100 points. 14: After 2000, the pharmaceutical, semiconductor, food and beverage sectors fell, the stock index fell again, and the large-scale return of funds from the North exceeded 5.5 billion, becoming one of the few bright spots in the market.
Recently, we have repeatedly stressed that the current round of adjustment, track stocks fell the most, track stocks can not stop falling, and the market is difficult to strengthen; Relying on the protective sector of the defensive sector, it is impossible to reverse the decline. When the gem fell 1% in early trading, more than 3500 stocks in the two cities fell; In the afternoon, the stock index turned red across the board, and half of the stocks still fell. The construction of the market bottom is complex, and may day is approaching. It is expected that the market will enter a state of contraction and consolidation.
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. After the continuous decline, whether the market can stop falling still depends on the performance of track stocks such as wind power, photovoltaic, lithium battery and chip. The support of financial stocks has failed to stimulate the confidence to do more. Bargain hunting with light positions can focus on three main lines: first, companies with year-on-year and month on month growth in the first quarter; Second, pork, aviation, airport, tourism and other sectors facing the inflection point of operation; Third, the theme of low-cost state-owned assets reform.
