After the May Day holiday, tomorrow’s A-share market will usher in the first trading day in May. Can the market get off to a good start in may under the interweaving of multiple factors such as the disturbance of the Chinese epidemic and the imminent interest rate hike by the overseas Federal Reserve?
In the view of industry institutions, there is no need to be too pessimistic about the future market. At present, the bottom range of the market has been relatively clear, and A-Shares are expected to rebound in May. In terms of allocation, the field of undervalued steady growth still has a certain allocation value, and the cycle and consumption related to steady growth deserve key layout.
major events affecting future investment
the Political Bureau of the CPC Central Committee conducted the 38th collective study on standardizing and guiding the healthy development of Chinese capital according to law
Xinhua News Agency reported on April 30 that the Political Bureau of the CPC Central Committee conducted the 38th collective study on standardizing and guiding the healthy development of Chinese capital according to law on the afternoon of April 29. This collective study of the Political Bureau of the CPC Central Committee made important statements on standardizing and guiding the healthy development of capital, comprehensively improving the efficiency of capital governance, continuing to improve the basic system of China’s capital market, improving the open economic system, setting up “traffic lights”, strictly controlling the entrance of the capital market, strengthening the anti-corruption in the capital field, and focusing on investigating and dealing with the corruption behind the disorderly expansion of capital and platform monopoly, releasing a series of heavy signals.
Shanghai announces “white list” for resumption of work and production of major construction sites
On May 3, Shanghai issued the “white list” for the resumption of work and production of major engineering construction sites in Shanghai (the first batch). The “white list” includes 24 major construction sites, including Tencent’s large-scale green data center, Alibaba’s large-scale green data center, Semiconductor Manufacturing International Corporation(688981) Lingang 12 inch wafer foundry production line project, Pudong International Airport Phase III expansion project, Midea Group Co.Ltd(000333) second headquarters project, Yaoming biological global innovative biological drug R & D and pharmaceutical integration center, Everdisplay Optronics (Shanghai) Co.Ltd(688538) sixth generation AMOLED production line capacity expansion project, etc.
Shenzhen Stock Exchange issued eight measures to support the real economy
On May 4, the Shenzhen Stock Exchange issued the notice on several measures to support the real economy, clearly supporting the healthy development of small and medium-sized enterprises, supporting the reasonable financing needs of real estate enterprises, supporting market entities to increase their holdings and repurchase, optimizing the operation arrangement of information disclosure business, allowing the use of electronic signatures to handle business, supporting listed companies to hold online performance explanation meetings, supporting listed companies to hold online shareholders’ meetings Eight measures including strengthening investors’ online education services.
Tesla will set up a second plant in Shanghai
On May 4, according to the cross verification of multiple sources, Tesla has made it clear that it plans to build another new factory near the current port super factory in Shanghai to expand production capacity. The new factory is expected to produce model 3 and model y models, with an annual production capacity of 450000 vehicles. After the expansion of the new plant is completed, it will help Tesla to increase the total capacity of the Shanghai plant to 1 million vehicles per year.
institutional outlook
Citic Securities Company Limited(600030) : actively layout four main lines
It is expected that the market will usher in a trend of value and growth resonance repair for several months in May. It is suggested to actively lay out the four main lines of modern infrastructure, real estate, resumption of work and production and consumption restoration. The subdivided fields include undervalued construction leaders, power grid, high-quality developers, smart cars and parts, semiconductors, aviation, hotels, tax exemption, etc.
China International Capital Corporation Limited(601995) : undervalued “steady growth” still has a certain allocation value
The market already has the midline value, so there is no need to be too pessimistic about the future market. Structurally, the areas of undervalued and stable growth still have a certain allocation value, such as traditional infrastructure, real estate and related industrial chains (real estate, building materials, construction, household appliances, home furnishings, etc.); For the middle and lower reaches consumption with many early adjustments, low valuation and clear medium and long-term prospects, stocks can be selected from bottom to top, including household appliances, light industry and household appliances, automobiles and parts, agriculture, forestry, animal husbandry and fishery, medicine, etc.
Guotai Junan Securities Co.Ltd(601211) : stocks with low risk characteristics are the focus of investment
The A-share market is still expected to rebound in May due to the loose credit path and the uncertain profit outlook. The growth style will still face the downward revision of profit expectations and crowded trading structure in the future. The investment will focus on stocks with low-risk characteristics, and the cycle and consumption related to layout and steady growth.
ICBC Credit Suisse Fund: the bottom range of the market has been relatively clear
In terms of policy, the warm wind blows frequently. After the accelerated decline of the market, the downward space of valuation has been relatively limited, the mood has gradually recovered, and the bottom range has been relatively clear. The suggestion of maintaining the direction of “steady growth” is relatively optimistic about the upper reaches of the real estate industry chain and the industries with large income elasticity and strong cost resistance in the middle reaches. In addition, the valuation and profitability of some growth stocks are gradually matching, and the cost performance is obvious.
bocom Schroeder Fund: small cap growth index may have good allocation value
In terms of major sectors, the undervalued and non cyclical parts of medium and long-term assets are relatively good, including precious metals, utilities, computers, media and communications; Among the major industries in the stock market, science and technology are dominant, and small cap growth index, medium and long-term bonds and precious metals may have good allocation value; Green economy and digital economy are integrated with two wings, focusing on environmental governance and data industry.
China Merchants Fund: focus on the cycle and consumption related to steady growth
Looking forward to the future, the growth sector with intense compression of early valuation will still have a certain rebound space. At the same time, in the process of economic recovery, we will also focus on the cycle and consumption sectors related to steady growth, and continue to be optimistic about the sectors and individual stocks with undervalued value, performance and definite performance growth, as well as marginal changesp align=”center”>
