The market fluctuated sharply. The Shanghai Composite Index closed at 304706 points, up - 1.29% on a weekly basis, with a turnover of 2075157 billion yuan; Shenzhen Component Index reached 1102144 points, with a weekly increase of - 0.27% and a turnover of 2383839 billion yuan; The Shanghai 50 index was 280534 points, up - 0.31% on a weekly basis, with a turnover of 413553 billion yuan; The CSI 300 index reached 401624 points, up 0.07% on a weekly basis, with a turnover of 1419357 billion yuan; The China Securities 1000 index reached 573449 points, with a weekly increase of - 2.67% and a turnover of 894899 billion yuan; The gem composite index was 253133 points, with a weekly increase of - 1.48% and a turnover of 870149 billion yuan. The market fluctuated sharply this week, the weighted index performed strongly, the daily transaction amount rebounded, the mood of participants fluctuated, and the average value of fund positions fell. On the whole, the spread of the epidemic throughout the country has exacerbated the market's concerns about the economy. The exchange rate and the market interact, and the market has fallen sharply. On the other hand, the policy is clear about the care of the market and economy. The market rebounded strongly, and the market fluctuated sharply under the influence of sentiment. We have always believed that we should not be overly pessimistic here. The position of the policy bottom is relatively clear. At the same time, the valuation level is low and the safety margin is high, but the confirmation of the market bottom takes time. In this position, we are not sad or happy. We are more involved in market transactions, pay attention to the adjustment risk of high-level theme sectors, and pay attention to the sectors with low start signs.
Steady growth is outstanding. The market fluctuated sharply and the market sentiment was also repeated. From the perspective of individual stock growth, the stocks with larger growth are real estate, infrastructure and other stocks, and the risk stocks are the main ones with larger decline. From the concept index, the concepts such as infrastructure and weight are strong, while the concept sector with the highest decline is mainly the related concept index of Shenzhen Agricultural Products Group Co.Ltd(000061) , which performed well in the early stage. From the perspective of industry, the construction decoration, electrical equipment and building materials industries are better, while the performance of textile and clothing, agriculture, forestry, animal husbandry and fishery industries is weak. The main reason for market fluctuations comes from the expectation of economic growth. In the steady growth, the real estate and infrastructure sectors rise again, which is also due to the expectation of steady growth. In the stock capital game, the characteristics of hot spot rotation remain unchanged, the fluctuation range of the sector is also increasing, and the consumption sector is also adjusted. The poor sustainability of the sector reflects that the market as a whole is still cautious. We still believe that the repair of valuation will be the theme of the second quarter, and the repair of emerging industries is expected to come. The stock capital will still be mainly rotating. We just need to wait patiently, but we should pay attention to avoiding high and low. In the non trend market, both infrastructure and consumption can not escape shocks. We can still pay attention to the short-term steady growth. However, from a sound perspective, the science and technology growth sector also has rebound potential. From the perspective of space, the game space is large. It just takes time.
Participate in the rebound. On the whole, the long short game is more intense, and the market is looking for the bottom in the shock. In the medium term, the current policy of the market is clear, but the epidemic has a great psychological impact. The epidemic situation in Shanghai has improved significantly during the festival, which is expected to be conducive to the recovery of mood. Although geopolitical conflicts are still repeated, the impact is relatively small. We still insist that we should not be too pessimistic here. Of course, it is not time for optimism. The repeated shocks of the market here help to form the basis of the rebound. The market valuation level is low, the safety margin is good, and the game characteristics of stock funds remain unchanged. At present, the market opportunities are still dominated by trading opportunities, mainly focusing on the short-term theme opportunities of stable growth. At the same time, the scientific and technological growth with large valuation repair space can also be appropriately arranged.
