panel overview
On Thursday, A-Shares fluctuated widely, the stock index fell back when 3000 points were blocked, and the correction of gem was obvious. On the disk, coal, energy metals, aerospace, photovoltaic, real estate, banking, engineering construction and other industries led the increase, while education, engineering consulting, food and beverage, instruments and meters, agriculture, animal husbandry, feeding and fishing, medical devices, securities, software development, automobile services, decoration, tourism hotels, games, computer equipment and other industries fell sharply. In terms of subject matter stocks, Alzheimer’s, CSL concept, lease and sale right, EDA concept and so on led the rise; Aquaculture, prefabricated vegetable concept, virtual power plant, NFT concept, dairy industry, vocational education, chicken concept, Huawei shengteng, digital currency, electronic ID card, covid-19 detection, etc. led the decline.
message surface
National Standing Committee: further open up logistics blocking points and take more effective measures to stabilize employment!
On April 27, Premier Li Keqiang presided over the executive meeting of the State Council and decided to strengthen the policy of stabilizing posts and promoting employment to maintain stable employment and stable economic operation; Listen to the work report on ensuring the smooth transportation and logistics, and require to further open up the blocking points and smooth circulation.
In the history of a shares, the net breaking ratio exceeded 10% for 5 times
Recently, A-Shares continued to adjust, and some data began to show dominant changes. The financial Associated Press reporter noted that as one of the investment reference indicators, the net breaking degree of listed companies (the share price is lower than the net assets per share) is also deepening. Data show that as of April 27, more than 500 A-share listed companies have broken the net, accounting for 10.5% of the total number of listed companies.
Public offering, banks, securities companies and listed companies have “bottom reading”
Since this year, institutions including public funds, bank financial management, asset management of securities companies and listed companies have carried out multiple rounds of “bottom reading” through self purchase. In addition, the data show that as of April 26, 448 listed companies have announced the completion of repurchase or released repurchase plans during the year.
Jufeng viewpoint
In the afternoon opening, the three major stock indexes fell below the early low. Education, agriculture, digital currency, underground pipe network, water conservancy, securities and other sectors led the decline Contemporary Amperex Technology Co.Limited(300750) fell more than 5%, and the gem index fell nearly 3%. 13: After 30, the banking, real estate and infrastructure sectors rose again, curbing the decline of the Shanghai index.
Recently, A-Shares have been continuously adjusted, and the flight of two financing funds is one of the main factors: throughout April, the financing balance decreased by 200 billion, and the cumulative decline during the year was close to 400 billion. After the reduction of leverage, it is of positive significance for the market to stabilize and gradually go well.
The recent rapid depreciation of the RMB is another major factor in the market adjustment: the depreciation against the US dollar reached 1% on the 28th, causing stock market fluctuations. China’s economic fundamentals are very good, which determines that the RMB has no basis for long-term depreciation. However, under the dual effects of the US dollar interest rate hike and the US Federal Reserve’s table contraction, the US dollar has appreciated rapidly. In the past year, the appreciation rate of the US dollar index has reached 15%. It is normal for the RMB to depreciate in the short term. The rapid depreciation and slow appreciation of the RMB can close the arbitrage space and avoid the flight of the US dollar. It is expected that with the landing of the US dollar interest rate hike in May, the RMB exchange rate will rise slowly, and A-Shares are expected to regain their upward trend at that time.
Investment suggestions:
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. After the continuous decline, track stocks such as wind power, photovoltaic, lithium battery and chip gradually stopped falling, which was conducive to the improvement of market sentiment. At present, the market is in the bottom area, and the bottom is slowly ground out. Investors need more patience. 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, the varieties wrongly killed in the adjustment within the year; Third, the theme of low-cost state-owned assets reform.
