On May 10, after A-Shares opened low and went high in an “independent market” on the occasion of the sharp fall of US stocks overnight, A-Shares continued to remain strong yesterday. Although they opened low in the morning due to the heavy fall of US stocks again, they then rose all the way. The three major stock indexes rose collectively in the afternoon and closed at the intraday high. At the close, the Shanghai Composite Index approached 3100 points, up 0.36%; The Shenzhen Component Index rose 0.37% and the gem index rose 0.50%. The net inflow of northbound funds throughout the day exceeded 5 billion yuan. The mainstream view of institutions is that with the continuous introduction of China’s “stable growth” policy, its superposition effect will gradually appear. For the capital market, “the worst time has passed”, and the structural market of shock bottoming is expected to continue.
On the disk, wind power and photovoltaic sectors rose hand in hand, real estate, semiconductor, UHV and energy storage strengthened one after another, and the automobile sector rose at the end of the day; Pork, food, Baijiu and large financial sectors are in a state of rest. In terms of funds, the net inflow of northbound funds yesterday was 5.125 billion yuan, of which the net purchase of Shanghai Stock connect was 2.739 billion yuan and the net purchase of Shenzhen Stock connect was 2.386 billion yuan.
Among the new energy sectors such as photovoltaic and wind power, the limit of Zhangjiagang Zhonghuan Hailu High-End Equipmentco.Ltd(301040) harvest increased by 20%, and the limit of several stocks such as Wuxi Shangji Automation Co.Ltd(603185) , Dajin Heavy Industry Co.Ltd(002487) and Dajin Heavy Industry Co.Ltd(002487) . In terms of news, the European Commission recently announced an energy plan called “repowereu”, which proposes that the newly installed Cecep Solar Energy Co.Ltd(000591) photovoltaic power generation capacity will exceed 320gw by 2025, which will be twice the current level, and the installed capacity of photovoltaic grid connection will reach 600gw by 2030.
Also active is the real estate sector. As of yesterday’s closing, Shenwan real estate index rose 2.24%, and individual stocks such as Langold Real Estate Co.Ltd(002305) , Tianjin Hi-Tech Development Co.Ltd(600082) , Hubei Fuxing Science And Technology Co.Ltd(000926) and so on rose by the limit. Recently, Li Keqiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, chaired a symposium in Yunnan to study and deploy further steady growth, stabilize market players and ensure employment. The meeting mentioned that urbanization is an inevitable trend. We should stabilize prices and house prices, support residents’ reasonable housing needs, and maintain the steady and healthy development of the real estate market.
Galaxy Securities believes that the period of intensive adjustment of local policies will enter from May to July, and the strength and space of “steady growth” are worth looking forward to.
For the market operation, China Securities Co.Ltd(601066) Securities believes that the resilience of A-Shares is relatively obvious recently, which can strengthen independently of US stocks, but it still faces the pressure of “bottom probing” of fundamentals, and the overall market may be in a “U-shaped bottom” China International Capital Corporation Limited(601995) said that from the perspective of policy, the top management has always been determined to maintain stability and take care of the market China International Capital Corporation Limited(601995) “I firmly believe that the worst time has passed”. It is expected that the rebound market will expand slowly after the bottom grinding process.
However, China International Capital Corporation Limited(601995) also believes that the current short-term trading opportunities are relatively limited. It is suggested that investors control their positions and pay appropriate attention to the oversold rebound opportunities of science and technology growth stocks. In the medium and long term, China International Capital Corporation Limited(601995) it is suggested that investors consider the following main lines with strong certainty: first, the main line of “stable growth” and continue to pay attention to the new and old infrastructure, real estate, banks and other directions that benefit the most; Second, the main line of inflation, which can focus on investment opportunities in seeds, pesticides, chemical fertilizers and other sectors, as well as investment opportunities for mandatory consumption; Third, the main line of “post epidemic recovery”, focusing on the benefited sectors such as hotels, tourism and retail.
Guosen Securities Co.Ltd(002736) proposed that recently, with the continuous introduction of the “steady growth” policy, its superposition effect will gradually appear. At present, the market is still in the game state of stock funds, and the structural market of shock bottoming is expected to continue. The main line of the market mainly focuses on the following aspects: coal and chemical industry with undervalued and good performance, as well as the agricultural sector; Infrastructure, real estate and consumer goods under the expectation of “steady growth” may be repaired; Military industry and electronics under the logic of resumption of work and production and oversold rebound of track stocks.
