Last Friday, the three major indexes opened higher in the afternoon, and the collective rose sharply. The Shanghai index recovered the integer mark of 3000 points, led by the gem index. On the disk, the e-commerce sector rose in a straight line in the afternoon, and individual stocks in the sector lifted the limit tide. In addition, education, meta universe, games and other theme sectors all rose sharply. Securities companies, real estate and other blue chip sectors also collectively strengthened in the afternoon. Overall, individual stocks rose more or fell less. More than 4400 stocks rose in the two cities, less than 300 fell, and more than 300 stocks rose by the limit or by more than 10%. Last Friday, the turnover of Shanghai and Shenzhen stock markets was 965 billion, 119 billion compared with the previous trading day. In terms of sectors, all sectors rose across the board, with Internet e-commerce, NFT, precious metals, education and other sectors taking the lead, while banks, pork and other sectors gained relatively little. As of the close, the Shanghai index rose 2.41%, the Shenzhen Composite Index rose 3.69% and the gem index rose 4.11%. Northbound funds bought a net 4.246 billion yuan last Friday, including 212 million yuan for Shanghai Stock connect and 4.034 billion yuan for Shenzhen Stock connect.
Overnight, the Federal Reserve raised interest rates by 50 basis points and announced a gradual contraction from June; Powell emphasized confidence in the soft landing of the economy. The three major US stock indexes closed up sharply, with the NASDAQ up 3.19%, the S & P 500 up 2.99% and the Dow up 2.81%. Large technology stocks rose, meta platforms rose more than 5%, apple, Google a and Tesla rose more than 4%, Intel and NVIDIA rose more than 3%. Bank stocks rose collectively, with Citigroup, Bank of America, Morgan Stanley and Wells Fargo up more than 4% and JPMorgan Chase up more than 3%.
At today’s morning meeting of securities companies, Tianfeng Securities Co.Ltd(601162) believed that the market may continue to be dominated by bottom grinding in May China International Capital Corporation Limited(601995) believes that the Fed has tightened as scheduled and has not made more progress for the time being China Securities Co.Ltd(601066) believes that the bargaining power of the industrial chain is the core direction of stock selection this year.
Tianfeng Securities Co.Ltd(601162) : the market may continue to focus on bottom grinding in May
Tianfeng Securities Co.Ltd(601162) believes that at present, the main marginal improvement is the epidemic itself and the resumption of work and production. Then, a reasonable expectation is that this marginal change may make the index rebound to the platform in mid March. Since then, whether the market can further rise may also return to the factors that led to the market decline before March. At present, these factors have not improved significantly, and the market may continue to grind the bottom. In the follow-up, after mid June, we judged that the time when the liquidity pressure of the US dollar was the greatest and the exchange rate depreciated the fastest was over.
China International Capital Corporation Limited(601995) : the Federal Reserve tightened as scheduled, and there is no more hawk for the time being
China International Capital Corporation Limited(601995) pointed out that the Fed raised interest rates by 50 basis points as scheduled and announced that it would “shrink the table” from June 1, which was in line with expectations. Powell ruled out the possibility of raising interest rates by 75 basis points in the near future at the press conference. This initiative of “demining” boosted market sentiment. In addition, Powell believed that the US economy was still strong and had confidence in the “soft landing” of the economy, but he also said that if necessary, the Federal Reserve would take action as resolutely as Volcker did. Overall, there is no new uncertainty in the interest rate meeting in May, which is good news for the fragile market.
China Securities Co.Ltd(601066) : bargaining power of industrial chain is the core direction of stock selection this year
China Securities Co.Ltd(601066) believes that the main line of the manufacturing industry in the middle reaches of 2022q1 new energy is that the upstream inflation is higher than expected, and the manufacturing favorable price ability in the middle reaches is differentiated. The core reason for most of the companies with poor performance (including some industry leaders) is the weak or untimely ability to guide the price rise. From the perspective of the whole year, the bargaining power of the industrial chain (mainly reflected in whether the price rise of raw materials can be directly guided and whether the price decline of raw materials can retain profits) is the core direction of stock selection this year. When the super cycle of raw materials comes, the differentiation of price transmission capacity fully shows the differentiation of manufacturing links in the middle reaches – good pattern The industrial chain has strong bargaining power, risk resistance and retained profit ability, which reflects the industrial chain status and core competitiveness of this link under the wide fluctuation of the market.
