on april 22, the three major A-share indexes closed mixed, and the Shanghai stock index rebounded slightly. Some institutions pointed out that the judgment on the bottom of the A-share market in the medium and long term remains unchanged, and patience should be reserved in the allocation
On the 22nd, the three major A-share indexes closed mixed. The Shanghai stock index rebounded slightly from the shock, and the gem index fell to a new low, but the decline rate of the index was significantly reduced, and the trend of accelerating the decline was alleviated.
On the disk, textile and garment, electric power, shipping and port, insurance, banking, mining and other industries led the increase. In terms of decline, agriculture, animal husbandry, feeding and fishing, tourism and hotels, semiconductors, food and beverage and other industries led the decline.
Overall, individual stocks fell more and rose less. More than 2900 individual stocks in the two cities fell, and nearly 100 stocks fell by the limit or more than 10%. The turnover of Shanghai and Shenzhen stock markets on the 22nd was 753.3 billion yuan, a decrease of 67.4 billion yuan compared with the previous trading day. As of the close, the Shanghai index rose 0.23%, the Shenzhen composite index fell 0.29% and the gem index fell 0.69%. The net purchase of northbound funds throughout the day was 6.765 billion yuan, including 3.611 billion yuan for Shanghai Stock connect and 3.154 billion yuan for Shenzhen Stock connect.
textile and garment sector led the rise
april 22 , textile and garment sector led the rise. As of the closing on April 22, the textile and garment sector as a whole rose 5.46%, with a trading volume of 262800.
In terms of related stocks, a number of stocks have raised the limit tide Jiangsu Hanvo Safety Product Co.Ltd(300952) , Rumere Co.Ltd(301088) , Hangzhou Wensli Silk Culture Co.Ltd(301066) recorded a 20cm daily limit, Anhui Korrun Co.Ltd(300577) , Qing Dao Kutesmart Co.Ltd(300840) , Anhui Jinchun Nonwoven Co.Ltd(300877) and many other stocks rose with an increase of more than 10%. In addition, Huafang Co.Ltd(600448) , Shanghai Dragon Corporation(600630) , Ribo Fashion Group Co.Ltd(603196) , Zhejiang Yingfeng Technology Co.Ltd(605055) and other stocks rose by 10cm.
In terms of news, on April 22, the central parity rate of the RMB against the US dollar was significantly reduced by 498 basis points to 6.4596, which has been reduced by 700 basis points this week.
According to the analysis of some institutional people, under the background of more outbreaks in China, disturbance in the supply chain and the official opening of the interest rate hike cycle by the Federal Reserve, the RMB exchange rate may further release the pressure of depreciation.
financial stocks to protect the market
On April 22, insurance and banking sectors were among the top gainers.
The insurance sector rose 2.08% as a whole. In terms of individual stocks, Hubei Biocause Pharmaceutical Co.Ltd(000627) led the rise with an increase of 3.59%, and New China Life Insurance Company Ltd(601336) , China Life Insurance Company Limited(601628) , The People'S Insurance Company (Group) Of China Limited(601319) , China Pacific Insurance (Group) Co.Ltd(601601) , Ping An Insurance (Group) Company Of China Ltd(601318) followed the rise with an increase of 2.96%, 2.4%, 1.81%, 1.18% and 0.52% respectively.
The banking sector as a whole rose 1.59%. In terms of individual stocks, Bank Of Chengdu Co.Ltd(601838) Bank Of Jiangsu Co.Ltd(600919) , Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) , Bank Of Nanjing Co.Ltd(601009) , Jiangsu Changshu Rural Commercial Bank Co.Ltd(601128) , Bank Of Hangzhou Co.Ltd(600926) , all rose by more than 3%center>
management's rare "shouting"
Recently, the trend of A-share market is weak, the Shanghai Stock Exchange is close to 3000 points again, the gem index falls below 2300 points, and the investor sentiment is low.
On the 22nd, the CSRC rarely shouted.
According to the official website of the CSRC, on April 22, Yi Huiman, Secretary of the Party committee and chairman of the CSRC, presided over a party committee (expanded) meeting to convey and study the deployment of the special meeting of the financial committee of the State Council on the morning of April 22 on implementing the spirit of the recent important meeting of the CPC Central Committee on economic and social work, analyzed the key and sensitive issues concerned by the current market, and studied response measures and policy reserves, Re implement and promote the recent arrangements of the financial commission of the State Council. The meeting stressed the need to respond to market concerns in a timely manner, guide market expectations, stimulate market vitality and potential, further improve market resilience and promote the stable and healthy operation of the capital market.
In addition, recently, Yi Huiman, chairman of the CSRC, held a symposium for the main principals of the national social security fund and some large banking and insurance institutions. Cao Yu, vice chairman of the CBRC, and Li Chao, vice chairman of the CSRC attended the meeting. The meeting analyzed the current economic and financial situation at home and abroad, and listened to opinions and suggestions on promoting the high-quality development of the capital market and guiding more medium and long-term funds into the market.
Wang Lei, director of Jurong asset investment, believes that the market downturn mainly has several factors: first, the Shanghai epidemic has affected the market's confidence in China's economy, making it difficult for the manufacturing industry to resume production. At the same time, China's epidemic prevention policy still adheres to "dynamic clearing", and the market generally believes that the economic proxy price is too large; Second, the Fed's interest rate hike will lead to the return of funds from emerging markets; Third, the RMB exchange rate has depreciated rapidly recently, and the exchange rate turbulence has an infectious effect on the A-share market.
Wang Lei said that he was not pessimistic about the market in the short term. The regulators kept making a voice to the market and actively took care of the stock market. On the one hand, under the background of insufficient market confidence, the CSRC has recently actively guided long-term funds such as insurance and banks to invest in the stock market, and actively promoted the negotiation on audit and supervision of China concept shares; On the other hand, the people's Bank of China also responded to market concerns about the recent devaluation of the RMB.
strategy chief Speaker: now is the end
On April 22, Zhang Xia, chief of investment promotion strategy, released a dynamic in the circle of friends and brushed the screen in the market.
Zhang Xia said bluntly: "in black and white, 27000 people witnessed it together. Even if you beat your face, you will stand up straight. Now is the bottom! The objects you like and miss have fallen to more than ten times, more than 20 times, and the coveted price is in front of you. In short, the way of stock is that people abandon me!"
In the same circle of friends, Zhang Xia attached the research report released in March. He believes that at present, A-Shares have begun to gradually trigger the bottom signal again. From the perspective of credit cycle, it should be the starting point of another three-and-a-half-year upward cycle. At present, A-Shares are already the bottom area. They are in the process of bottoming, and may have bottomed out. At the same time, A-Shares may usher in a more certain upward "perfect storm", and the time window is about from mid April to mid May (the reporting time point at that time).
investment should not be aggressive
So, at the current time node, what kind of investment strategy should investors hold?
Wang Lei suggested that in the overall weak market environment, equity investment should not be radical and the position should not be too high; At the same time, low position investors should not rush to copy the bottom. They should increase their positions or make a fixed investment in batches at the bottom grinding stage of the stock market. In the industry, steady growth is the first choice for current investment, such as finance, real estate, building materials, etc; At the same time, undervalued consumer stocks, such as food and beverage, household appliances, tax exemption, etc. Finally, in the process of global economy from stagflation to recession, growth stocks or stocks biased towards capital goods should be avoided.
From this point of view, the mood of the short-term market is not stable. It's best to see more and move less. However, from the medium-term perspective, the valuation of most stocks in the current market has been relatively reasonable. It is the time for us institutional investors who adhere to long-term investment and value investment to obtain "bloody chips".
Shen Shengcai, a researcher at ningshui capital, told the international finance news that at present, the overall valuation of A-Shares has entered a relatively low range, and the P / E ratio of Shanghai and Shenzhen 300 index has returned to the low point when the bull market started in early 2019. Investors should not be overly pessimistic, but they should still pay attention to avoiding overvalued varieties, allocating undervalued targets on bargain hunting, and paying attention to the bottom opportunities of pre increase and High Dividend Stocks in the annual report and the first quarter report.
Xia Fengguang, manager of Rongzhi investment fund under paipai.com, pointed out that with the improvement of the epidemic control situation and the gradual implementation of loose policies and support policies, there is a high possibility of an economic bottom in the second quarter. In addition, we can see that in the first quarterly report, the growth rate of some industries is good, including coal, nonferrous metals, media, medicine, banking, etc., and there are still many structural opportunities worthy of attention. If the economic inflection point appears in the second quarter, it is believed that more and more industry fundamentals will improve. At present, it is still a good time for the layout on the left.
"In the short term, the pessimism is greatly released, the management takes care of the market, and the market has a breathing space; in the medium term, the real shift of the market needs to wait for one or more changes in the above macro conditions, which should not be radical and be patient." Wang Jiang, general manager of Yuanrong investment stock department, told the reporter of international finance.
Bohai Securities pointed out that the judgment of the bottom of the A-share market in the medium and long term remains unchanged. Patience should be reserved in configuration. The congestion of most of the short-term "stable growth" sectors has been at a high level in recent five years, and risks are gradually accumulating, so we need to be cautious. Investors can tap opportunities for performance exceeding expectations around the first quarterly report. For the medium and long term, after the economy stabilizes, the growth sector is still expected to return to the main line, and the long-term allocation value will be more prominent.
