Looking back on Wednesday’s A-share market, the Shanghai and Shenzhen stock markets opened higher, and the stock index fluctuated at the beginning of trading; In the afternoon, subject stocks broke out in an all-round way, leading the index to rise rapidly. At the end of the day, the Shanghai index accelerated its upward attack, and the gem index showed a stronger performance. After terminating seven consecutive overcast days, it ushered in a one-day rebound.
As mentioned in Central China Securities Co.Ltd(601375) , the stock indexes of the two cities rebounded significantly on Wednesday, but the trading volume continued to remain at about 1 trillion yuan, the characteristics of the stock game are still . At present, the hot spots in the market change frequently, the sustainability of leading hot spots is not strong, and the off-site funds are in a heavy wait-and-see mood. It is recommended to allocate them in a balanced manner. It is expected that the Shanghai index is more likely to rise slightly in the short term, and the gem is more likely to continue to rebound in the short term. We suggest investors to focus on investment opportunities in engineering construction, chemical fertilizer, medicine, automobile and non-ferrous metals in the short term, and continue to focus on investment opportunities in undervalued blue chips in the middle line.
Soochow Securities Co.Ltd(601555) pointed out that the two cities ushered in a general rise on Wednesday, mainly due to the continuous oversold of the market in recent times, and there is a certain rebound demand on the technical and emotional side of . However, the downside is that the gem refers to the lack of capacity support in the rebound process. If the annual line cannot be recovered quickly, there may still be repeated in the future. Considering that the enthusiasm for market capital participation was not high years ago, and the overall trend was still weak, investors need to continue to do a good job in risk control, do not catch up with the rebound, and wait for the callback before buying low.
From a technical point of view, Dongguan Securities believes that the Shanghai stock index rebounded on Wednesday, the sector generally rose, and the trend moderately warmed up. In particular, the individual stocks in the sector with large decline in the early stage were moderately repaired, the market sentiment recovered, and the net inflow of funds going north again, it is expected that the market is expected to gradually stabilize and rebound, and pay attention to the rotation rhythm of the sector 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 for the future, Everbright Securities Company Limited(601788) said that it is not necessary to be too pessimistic about the market, but it should be noted that there is still the possibility of adjustment and decline in the small cycle rebound in the short term. from the perspective of allocation, it is difficult to grasp the rhythm of the next day of the repair day. The value sector with oversold and deterministic performance in the early stage of the game has valuation and repair momentum, and there is allocation value . Preferred industries: electronics, media, national defense and military industry. The theme direction needs to pay attention to the risk of differentiation in the back row and try to focus on the core stocks in the front row.
Macroscopically, Citic Securities Company Limited(600030) pointed out that the total amount of social financing and credit in December was close to expectations. The proportion of bill financing in credit is relatively high, but it is expected. The small increase of medium and long-term loans of enterprises has narrowed, indicating that the financing demand of enterprises has not weakened further. The bill transfer cash 0 interest rate in December should be caused by the increase of credit assessment pressure. Long term loans to residents turned negative year-on-year. We believe that it is due to the lagging transmission of the decline in real estate sales rather than the active tightening of policies. In recent days, the bill rediscount rate has risen to a new high since July 2021, it is expected that the credit supply will have a “good start” in January 2022, and the wide credit is on the way .
In terms of operation strategy, Huaan Securities Co.Ltd(600909) mentioned that four main lines grasp the restless market, and growth is still the medium-term optimal allocation main line of the restless market . Main line 1: short-term growth style and rising anxiety. According to the rhythm of the growth market, after this benign adjustment, growth will also usher in a round of main rising wave market driven by valuation, and liquidity will provide core support. After this benign adjustment, the optimal allocation opportunities will be more obvious, continue to pay attention to the “double carbon” direction of wind, solar hydrogen storage, green power and new energy in the medium term, The mid and upper reaches of semiconductors, national defense and military industry, and diffusion to computers ; Main line 2: steady growth under the reinforcement of counter cyclical policies, pays attention to power operation, power station construction, transmission and distribution and the upstream and downstream of infrastructure real estate, such as building materials , which is more cost-effective in the transitional market; Main line 3, brokerage sector , as a wind vane of restless market in spring, rises with restless market; Main line 4, consumption follows the rise , mainly laying out opportunities along the price rise chain.
Sealand Securities Co.Ltd(000750) said that it remained optimistic about the market in January, and the three factors of economy, liquidity and policy resonated and actively went long. Among them, the valuation expansion dominated by loose liquidity and stable growth policy is the main driving force of agitation in spring, growth style is expected to become the main line of the market after phased adjustment . In terms of allocation, growth is dominant in the environment of “weak economy + broad currency”. After adjustment, the growth sector has good cost performance. Two directions can be considered: one is media, military industry, computer and other industries with good performance valuation matching, and the other is to find a more definite direction along the evolution path of the industrial cycle, focus on software development, it services, optical images and other subdivided fields under the background of automotive intelligence and meta universe . The preferred industries in January are: electronics, media, national defense and military industry.
China Industrial Securities Co.Ltd(601377) pointed out that for the “new half army” and other hard technology sectors: combined with the five crowding index and previous callbacks, the current adjustment space has been relatively adequate. focus on three directions: 1) real estate chain and infrastructure chain; 2) Securities firms; 3) Take long to fight short, bargain hunting layout, and scientific and technological growth represented by “small high tech” . In terms of investment suggestions, in the short term, on the one hand, grasp the phased opportunities for the repair of undervalued real estate chain, infrastructure chain and securities companies, on the other hand, lay out “small high-tech” with long playing short and bargain hunting. for a long time, focus on five directions of scientific and technological innovation: 1) new energy, 2) new generation information and communication technology, 3) high-end manufacturing, 4) biomedicine, 5) military industry .
