Many institutions believe that the market will bottom up in May and have allocation opportunities for sectors such as steady growth and large consumption.
in april, all major market indexes fell
In April, the overall performance of global stock markets was poor. The Russian RTS, which fell sharply in the early stage, led the world's important index, closing up 5.9%, but the Russian MOEX index fell 9.56%; In addition, the UK FTSE 100 closed up slightly by 0.38%, and the other indexes fell. The average of the three major indexes of US stocks fell sharply. The NASDAQ led the decline, down 13.26%; The S & P 500 fell 8.8%; The Dow fell 4.91%.
All major A-share indexes also fell, with the three major stock indexes falling by more than 6%; SSE 50 and CSI 300 performed relatively well, down 3.23% and 4.89% respectively among shenwanyi industries, only the food and beverage sector rose, up 4.28%; Environmental protection, power equipment and computer sectors performed poorly, falling 15.26%, 15.53% and 17.03% respectively
In terms of the reasons for the sharp decline in the market, Everbright Securities Company Limited(601788) believes that the performance of listed companies was intensively disclosed in April, and some companies were significantly lower than expected, which led to the adjustment. The most typical example is that the performance of Sungrow Power Supply Co.Ltd(300274) was lower than expected, which led to the decline of new power industry and gem. At the same time, China's epidemic has triggered market concerns about the economy to a certain extent.
Galaxy Securities is more inclined to the disturbance of external factors. It said that in the case of insufficient confidence in China's economy and market, the situation in Russia and Ukraine, global "stagflation" and the Federal Reserve's interest rate hike and table contraction led to a downturn in investor sentiment and a sharp correction in a shares.
organization studies and judges the market in May
will focus on consolidation
The market will open in May. As of press time, more than 20 securities companies have released the gold stock portfolio and monthly strategy in May . Some institutions believe that the market will focus on consolidation in May, which is expected to usher in the starting point of the upward cycle, and some tracks may have structural market. Steady growth and consumption are still the main market throughout the year, and the allocation proportion of growth stocks can be appropriately increased
China Securities Co.Ltd(601066) believes that the gold pit of this year is near 2900. Now is the most pessimistic time of epidemic expectation, and it is expected that work will resume soon, which is expected to become an important clue; The 2900 point reflects the market's pessimism about the economy, but the logic of steady growth has not been destroyed, but is strengthening. The economic situation in the second quarter will make the launch of a new round of steady growth policies faster and stronger; The most pessimistic phase of global inflation expectations is also passing. It is expected that the improvement trend of the whole internal and external environment in the future is a high probability event, but the process may be repeated.
Shanxi Securities Co.Ltd(002500) also believes that under the background of continuous consolidation of the "policy bottom", the market bottoms out and the repair market is progressing gradually. In terms of short-term consumption, most of the factors that promote stable growth have been fully digested and boosted by policies. With the disclosure of the first quarterly report, the market is expected to return to the structural repair market.
Western Securities Co.Ltd(002673) pointed out the low market valuation and exchange rate adjustment opportunities. At present, the equity market has been in the deep value range, and the valuations of major indexes have returned to historical lows. The difference between the implied yield of A-Shares and the yield of 10-year Treasury bonds hit a new high since the financial crisis in 2008. The depreciation of RMB is more due to the differentiation of monetary policy and the impact of the epidemic outside China. It does not mean a long-term trend. The exchange rate adjustment will also bring structural opportunities.
Soochow Securities Co.Ltd(601555) indicates market risk. It believes that with the convening of the Politburo meeting on April 29, the risk of economic hard landing dissipated, and the quarterly economic growth rate will not be less than 3%, but it is still in the downward channel. In May, the A-share market is expected to fluctuate at the bottom, with limited room for sharp decline. If the Federal Reserve raises interest rates by 50 percentage points in May and shrinks its watch at the same time, the expectation of economic recession in the United States in the next 12 months may rise sharply in June, causing US stocks to fall and dragging down the performance of Chinese stocks.
22 securities companies released "gold stock portfolio" in May
data treasure combed the gold stock portfolio of 22 securities companies in May and sorted out the list of "gold stock portfolio" recommended by securities companies among them, Maotai and Dongcai are among the best in the gold stock portfolio of 7 and 6 securities companies respectively Luzhou Laojiao Co.Ltd(000568) , Wuxi Apptec Co.Ltd(603259) , China Tourism Group Duty Free Corporation Limited(601888) and other industry giants with a market value of more than 300 billion yuan have also been listed.
Zhejiang Entive Smart Kitchen Appliance Co.Ltd(300911) reached the top 10 with a total market value of less than 7 billion yuan, and was recommended by China Securities Co.Ltd(601066) , China Merchants, Hua'an and Guoxin Guosen Securities Co.Ltd(002736) believes that the integrated stove industry continues to grow at a high speed and is expected to more than double its growth space Zhejiang Entive Smart Kitchen Appliance Co.Ltd(300911) technology accumulation is deep; Develop all channels such as engineering, Ka and home decoration The share of Wuxi Online Offline Communication Information Technology Co.Ltd(300959) city has increased rapidly. In 2021, the company's revenue increased by 72% and net profit increased by 46%, which is expected to continue the strong trend.
Even in April, when the overall market fell, the performance of the above gold stock secondary market was still strong, with an average increase of 5.43% Zhejiang Entive Smart Kitchen Appliance Co.Ltd(300911) led the rise, with a range of 18.82% Four stocks, including Mango Excellent Media Co.Ltd(300413) , Aier Eye Hospital Group Co.Ltd(300015) , Luzhou Laojiao Co.Ltd(000568) , China Tourism Group Duty Free Corporation Limited(601888) , rose more than 10%. Excluding Western Superconducting Technologies Co.Ltd(688122) , the latest price of other stocks exceeds 20% of the target price spread of the institution Glodon Company Limited(002410) , Wuxi Apptec Co.Ltd(603259) and Aier Eye Hospital Group Co.Ltd(300015) ranked among the top three, with rising space of 72.65%, 53.29% and 43.71% respectively.
In terms of performance in the first quarter, Western Superconducting Technologies Co.Ltd(688122) , Zhejiang Entive Smart Kitchen Appliance Co.Ltd(300911) net profit increased by 67.4% and 51.48% respectively; Thereafter, Glodon Company Limited(002410) , Huizhou Desay Sv Automotive Co.Ltd(002920) , Luzhou Laojiao Co.Ltd(000568) increased by more than 30% China Tourism Group Duty Free Corporation Limited(601888) and Mango Excellent Media Co.Ltd(300413) net profit showed a year-on-year decline. From the perspective of roe, Luzhou Laojiao Co.Ltd(000568) is the highest, 9.76% Kweichow Moutai Co.Ltd(600519) , China Tourism Group Duty Free Corporation Limited(601888) exceeded 8% Mango Excellent Media Co.Ltd(300413) and Glodon Company Limited(002410) are lower, both less than 3%.
