Looking back on Tuesday’s A-share market, the Shanghai and Shenzhen stock markets opened high across the board. At the beginning of the session, the stock index fluctuated and sorted out. There was a diving in the session. With the strength of track stocks, the index rose rapidly and turned red smoothly; In the afternoon, the index remained high and fluctuated, with further upward performance in the late afternoon.
As stated in Soochow Securities Co.Ltd(601555) , at present, the market is again near the integer mark of 3100. Since there are still many uncertain factors outside China in the recent stage and there is no obvious inflection point event for the time being, may carry out a certain long and short-term sawing around 3100 in the near future . In terms of operation, investors can choose low positions for short-term operation of hot sectors, Wait for the market to stabilize effectively before choosing an opportunity to increase positions.
As far as the future is concerned, Rongwei Securities pointed out that in combination with the current market hot spots, the market lacks sustainable and appealing new hot spots, mainly focusing on the structural market of oversold rebound. Therefore, the market probability still completes a round of stock index repair in the way of time for space .
Shanxi Securities Co.Ltd(002500) believes that the recent warm wind in policy has played a very positive role in stabilizing market sentiment. At the same time, the rapid adjustment in the early stage has made the overall valuation of the market enter a reasonable valuation area, and the market bottomed out and rebounded. with the further deregulation of China’s real estate market and the gradual improvement of the epidemic situation in Shanghai, the mid-term rebound of this round is expected to further deepen, The market profit-making effect continues to increase . In the medium term, it is suggested to focus on the large market value stocks, real estate chain and oversold growth sectors. The active funds in the market will continue to switch and look for opportunities in terms of steady growth and oversold growth.
Guosheng Securities said that with the recovery of economic expectations, market risk appetite will gradually pick up. The worst stage of short-term market has passed. We should actively grasp the current round of index repair . In terms of operation, we will continue to focus on track stocks with oversold rebound demand in the short term, such as photovoltaic, new energy vehicles, military industry and other related sectors, but it will take time for the sector to reverse, and pay attention to the rhythm. Sustainable attention benefits from the real estate industry chain, banks and other related steady growth sectors with loose monetary policy and an upward trend. In the later stage, with the continuous recovery of the economy, it can fulfill the direction of fundamentals, such as manufacturing and consumption.
In the macro aspect, Zheshang Securities Co.Ltd(601878) pointed out that the marginal improvement of consumption and service industry is expected to be the largest in the second half of the year, and the resonance between investment and industry is upward. With the implementation of normalized nucleic acid detection, the certainty of consumption bottoming recovery is very strong, and the service industry shows a restorative growth trend at the same time, maintaining the Nike trend of the economy in the whole year. The actual growth rate of GDP in the whole year is expected to be 4.3%. The agency further analyzed that the normalized nucleic acid detection is conducive to the accelerated improvement of covid-19 epidemic prevention and control situation, the consumption continues to converge to the pre epidemic level, and the marginal improvement of final consumption is significant.
At the same time, we suggest that the focus on the investment side will continue the high momentum of the early stage, in which more urban renewal drives real estate investment, supply shortage and structural transformation are the dual main lines of manufacturing investment, and infrastructure investment highlights the strength of policy driving . On the whole, normalized nucleic acid testing helps to coordinate epidemic prevention and control and logistics supply. It is expected that the consumption probability will continue to recover, and the confidence and expectation of market players will be gradually boosted.
In terms of operation strategy, Sinolink Securities Co.Ltd(600109) indicates that focuses on the layout of “low-carbon, intelligent and digital” . The new energy sector rebounded, with TMT hard technology on the left, focusing on opportunities for high-end Baijiu and some durable consumer goods after the epidemic eased.
1) at present, there is no significant change in the fundamentals and policies of new energy and other institutions’ heavy positions, stabilizing and recovering or high probability events. Although the performance of some stocks is lower than expected, the performance of the overall sector remains high, and it is difficult to falsify the medium and long-term prosperity.
2) the expectation difference of TMT is large, especially in the sectors of hard technology such as communication and computer, which are strongly applied semiconductors. First, the prosperity remained stable and upward; Secondly, it is at the bottom of the historical sector, followed by the basic valuation area; In addition, policies such as new infrastructure may become market catalytic factors. It is suggested to actively layout the core industrial chain: automotive intelligent industrial chain, 5g to b-end applications, industrial digitization, Huawei industrial chain, etc.
3) the positive trend of the epidemic situation in the second half of the year deserves special attention. There is a big difference in the expectation of the fields related to business consumption and durable consumption, such as high-end Baijiu related to business banquets; Household appliances, light industry and other durable consumer goods under the expectation of loose real estate policy and stimulating consumption policy.
In addition, China Greatwall Securities Co.Ltd(002939) put forward configuration suggestions: (1) “steady growth” is still the main line . With the continuous increase of policies, the relevant sectors of the real estate chain such as real estate and building materials are basically oriented to the good, which is more likely. It is suggested to pay attention to industry leaders and central enterprises with the advantage of land acquisition. In terms of new infrastructure, we should pay attention to the digital economy and new energy track (2) the recovery of the epidemic has brought opportunities for consumption recovery , the logistics and consumption scenes return to normal after unsealing, and there may be greater opportunities for food and beverage, textile and clothing, biomedicine and automobile sectors.
