Looking back on Tuesday’s A-share market, the Shanghai and Shenzhen stock markets opened low. At the beginning of trading, led by financial stocks, the stock index once rose. However, the offensive strength was insufficient. With the track stocks continuing to fall, the index ushered in a decline. Since then, the Shanghai index continued to fall and dived for a time. The gem index performed more miserably, showing a pulse downward pattern.
As mentioned in Soochow Securities Co.Ltd(601555) , the two cities reappeared the weak adjustment pattern on Tuesday, with poor market sentiment. The continuous decline since the beginning of the year has greatly hit the willingness of funds to do more. In the weak pattern, the overall situation presents a defensive disk state. But from the historical data, in the years with rapid decline at the beginning of previous years, there is a good spring farming market after the Spring Festival, so there is no need to be too pessimistic . Short term investors need to continue to control their positions and grasp the rebound opportunity after the market stabilizes.
From a technical point of view, Dongguan Securities believes that the stock index saw below 3600 on Tuesday, the profit-making effect of individual stock plates weakened, the rotation of plates accelerated, and the outflow of funds from the North indicate that the market still needs time to consolidate in the short term, but considering the reduction and adjustment, it is expected that the market is expected to gradually stabilize in repeated shocks, Pay attention to the rotation rhythm of plates and the change of volume energy . In terms of operation, it is recommended to pay attention to finance, food and beverage, household appliances, electrical equipment, TMT and other industries.
As far as the future is concerned, Shanxi Securities Co.Ltd(002500) mentioned that the “high-low switching” in the market will continue , and the consumer sector will benefit from the support of the price increase logic or have a stronger momentum for valuation repair. It is suggested to pay attention to the undervalued sub sectors such as traditional Chinese medicine and high-value consumables boosted by the favorable policies. At the same time, real estate The valuation repair of building materials and other sectors is still mainly affected by the expectation of “stable growth”, the impact risk of expected adjustment is still there, and it does not have the internal driving force to form a trend upward momentum. It is recommended to deal with it carefully.
Central China Securities Co.Ltd(601375) also said that the current leading hot spots continue to rotate rapidly, the market profit-making effect is weak, and investors have a heavy wait-and-see mentality. investors are advised to maintain a cautious and optimistic attitude, control positions and allocate in a balanced manner. It is expected that the short-term slight shock of the Shanghai index is more likely, and the short-term slight consolidation of the GEM may be more likely. Investors are advised to focus on investment opportunities in engineering construction, cement and building materials, medicine, chemical fertilizer and non-ferrous metals in the short term, and continue to focus on investment opportunities in undervalued blue chips in the middle line.
In addition, Everbright Securities Company Limited(601788) believes that the gem has been running below the annual line for four consecutive trading days, and has hit a new low for seven months, and the market lacks the effect of making money. in this context, we can not arbitrarily copy the bottom, but we can “focus on individual stocks and ignore the index” . We can look for phased trading opportunities for the current popular concepts such as medicine, infant and child, phosphorus chemical industry and so on.
Overall, the agency further analyzed that the index risk has been further released. Under the background that the transaction volume remains above trillion, the rebound market may be on the way. Operation should avoid the large increase in the early stage, but there is no performance support for individual stocks. at present, the market is in the performance disclosure period. You can find targets with low position and high performance certainty for tracking .
Guosheng Securities pointed out that since the beginning of the year, overseas U.S. stocks and A-Shares have made some adjustments, the market sentiment is depressed, and the structural main line has also changed from high growth to undervalued value. With the introduction and effectiveness of more stable growth policies, investors\’ risk appetite may gradually rise, considering the pre holiday effect, it may become an important phased low point in the market around the Spring Festival, In terms of investment, it is recommended to maintain the balanced allocation of growth and value . In terms of operation, before the effective upward breakthrough in the market, we should still control the overall position and be suitable for low absorption. “Stable growth” will become the main logic driving the market operation. We should pay attention to traditional infrastructure such as building materials, as well as new infrastructure such as wind power and photovoltaic. It is suggested to properly layout food and beverage, medicine, household appliances, automobiles and other consumer sectors in combination with performance and cost performance.
In the macro aspect, Wanlian Securities said that it paid close attention to the performance of social finance and credit data, the trend of fiscal policy and the changes of local industrial support policies. If the high-frequency economic indicators gradually improve, the current market downturn is expected to pick up. In terms of industry allocation: 1) continue to pay attention to the bottom rebound of prosperity under the main line of “stable growth”, the required consumption with strong risk aversion attribute, and the infrastructure industry chain with recent overweight and strength; 2) Under the sharp correction of the high boom track, pay attention to the undervalued sector with high safety margin; 3) In the medium and long term, the 5g innovative application, Internet of things, network equipment and other fields in line with the general trend of industrial development are arranged around the main line of “manufacturing power and scientific and technological innovation”.
In terms of operational strategy, Hualong securities mentioned that it is optimistic about the direction of less affected by the epidemic and favorable industry development logic – national defense and military industry, steel, cement, securities companies, pigs, new energy vehicles, green energy and communication equipment . Focus on the direction of marginal improvement – consumption and medicine , which is greatly affected by the epidemic situation and the industry catalysis is greatly affected by external factors.
China Galaxy Securities Co.Ltd(601881) Securities said that at present, the market sentiment is relatively low. It is suggested to adopt defensive strategy and wait for the new good turn of the market . In terms of industries, new energy related industries have a large increase and high valuation, and the recent risks have been released; Some industries with poor early performance, such as big finance and real estate, show no significant signs of improvement in fundamentals, but the valuation is low and defensive, and there is momentum for valuation repair in the short term. Balanced configuration is recommended. First: semiconductor, military industry, green power, individual consumer goods and other high prosperity sub industries can be configured for a long time. Second: the electronics, household appliances, building materials, computers and other sectors with good performance during the spring market. Third: large finance, large infrastructure and other sectors with valuation and repair power and both offensive and defensive, with balanced allocation.
