In the context of the sharp decline of U.S. stocks overnight, the opening of Shanghai and Shenzhen markets today (May 19) showed a low opening, and then gradually fluctuated upward. In the afternoon, the index maintained a strong pattern, fluctuated around the flat line, and the trend rebounded slightly in the late afternoon. Finally, the three major indexes closed red across the board, A-Shares went out of the independent market, and the enthusiasm of the market to do more increased significantly.
As of the day’s close of Shanghai and Shenzhen stock markets, the Shanghai index rose 0.36% to 309696 points; The Shenzhen Composite Index rose 0.37% to 1125006; The gem index rose 0.50% to 237713.
From the disk point of view, the light index and heavy individual stock market reappeared, the rise and fall of industry and concept sectors were different, and the local profit-making effect was still in existence. In terms of industry, wind power, photovoltaic, real estate, education, engineering construction, engineering consulting, semiconductor, battery and other industries led the increase; In terms of subject stocks, hit cells, photovoltaic building integration, lease and sale of the same rights, wind energy, Cecep Solar Energy Co.Ltd(000591) , 6G concept, energy storage and other gains were higher.
In terms of capital, the people’s Bank of China announced on May 19 that in order to maintain the reasonable and abundant liquidity of the banking system, the people’s Bank of China carried out RMB 10 billion reverse repurchase operation by means of interest rate bidding on May 19, 2022, and the bid winning interest rate was 2.10%. As 10 billion yuan of reverse repo expired today, the people’s Bank of China realized zero delivery and zero return in the open market.
hot sector
Top 10 gainers in industry sector
Top 10 industry sector declines
Top 10 gainers in concept sector
Top 10 decline in concept sector
individual shares monitoring
Top 10 net inflow of main forces
Top 10 net outflow of main force
northbound funds
southbound funds
message surface
1. According to the first financial report, at the regular press conference held by the Ministry of Commerce today, the spokesman of the Ministry of Commerce Shu jueteng said that in the first four months of this year, the total retail sales of social consumer goods in China were basically the same as that in the same period of last year, and the sales of basic living goods and online retail sales maintained growth. In April, the total amount of social zero decreased to a certain extent year-on-year, mainly due to the impact of the epidemic. Generally speaking, the impact is phased and temporary. The characteristics of China’s strong consumption toughness and sufficient potential have not changed, and the fundamentals of long-term good consumption development have not changed. As the impact of the epidemic is gradually controlled, various policies and measures to expand domestic demand and promote consumption are effective, and consumption is expected to continue to recover its development trend.
2. According to the Beijing business daily, on May 19, the data released by the passenger car market information joint meeting showed that the output of MPV in April this year was 47000, down 42.1% year-on-year and 37.2% month on month; The cumulative output this year was 249000, a year-on-year decrease of 22.3%.
3. According to the Shanghai Securities News, the latest April interbank bond market briefing on investment by overseas institutions released by the Shanghai headquarters of the people’s Bank of China shows that by the end of April 2022, overseas institutions held 3.77 trillion yuan of interbank bond market bonds, accounting for about 3.2% of the total custody of the interbank bond market.
4. According to the first financial report, according to the recently released notice of Zhejiang Medical Security Bureau on supporting “Zhejiang has good education” to promote eugenics (Draft for comments), it is proposed to increase the reimbursement proportion of medical insurance for infants aged 0-6 years. The proportion of basic medical insurance reimbursement for infants aged 0-6 years is about 10 percentage points higher than that of ordinary urban and rural residents.
institutional views
For the current market, Central China Securities Co.Ltd(601375) pointed out that on Thursday, the A-share market opened low and went high and fluctuated widely. In the afternoon, the Shanghai index covered the gap of the day’s short jump, and more industries joined in the rebound at the end of the day, boosting the stock index to continue to rise slightly. At present, the average p / E ratios of Shanghai Composite Index and gem index are 12.43 times and 36.56 times respectively, which are below the median level in recent three years; The trading volume of the two cities on Thursday was 806.7 billion yuan, which was in the median area of daily average trading volume in recent three years.
In addition, Northeast Securities Co.Ltd(000686) said that the market deduces the self rescue, oversold and rebound market under the stock game. From experience, the sustainability and space of the follow-up market may be small, and the structure may move repeatedly. In terms of style, the relative value of short-term growth is still in a reasonable range, but the allocation tends to be gradually balanced. At present, it is in the structural market of repeated moves, but the transaction volume can neither be continuously enlarged nor significantly shrunk, implying that the stock price index is also tangled; Therefore, it is inclined to wait for the timing of position increase, the shrinkage of market capacity and the appearance of needle K-line form (single needle or multi needle bottom).
Previously, Shanxi Securities Co.Ltd(002500) mentioned 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. The market rebounded at the bottom, the index continued to fluctuate upward, and continued the rebound trend since the end of April in May.
However, under the restraint of international conflicts and the downward trend of China’s economy, the market risk appetite is suppressed, the upward trend is weak, and the rebound space of the index may be relatively limited. In the near future, we may pay attention to the possibility of periodic decline. The medium-term proposal focuses on the market value stocks, the real estate chain and the oversold growth sector. The market is active and the funds have been constantly switching and looking for opportunities.
Orient Securities Company Limited(600958) believes that although the medium-term A-share market is continuously disturbed by macroeconomic pressure and the risk of overseas interest rate hikes, there is still room for shock and rebound in the short term: on the one hand, the driving force of the rebound comes from the fact that China’s epidemic has gradually entered a controllable and ending stage, and the resumption of work and production and normalization prevention and control measures have boosted market confidence; On the other hand, the pessimism of overseas interest rate hikes has reached a short-term high. If the Fed’s speech is slightly dovish, the US stock market will rebound.
