The market continues to rebound. The Shanghai Composite Index closed at 314657 points, up 2.02% weekly, with a turnover of 1814803 billion yuan; The Shenzhen Component Index reached 1145453 points, up 2.64% on a weekly basis, with a turnover of 2258985 billion yuan; The Shanghai 50 index was 280794 points, up 2.17% on a weekly basis, with a turnover of 301834 billion yuan; The CSI 300 index reached 407760 points, up 2.23% on a weekly basis, with a turnover of 1087452 billion yuan; The CSI 1000 index reached 626344 points, up 3.16% on a weekly basis, with a turnover of 864458 billion yuan; The gem composite index was 269574 points, up 2.63% on a weekly basis, with a turnover of 727425 billion yuan. The market continued to rebound this week, the small and medium-sized market value index remained strong, the daily transaction amount decreased, the mood of participants rebounded, and the average value of fund positions was basically stable. On the whole, after the effectiveness of epidemic control, the market sentiment is more optimistic. The impact of overseas markets and geographical conflicts on the Chinese market is becoming smaller and smaller, mainly due to the low valuation of the market itself and the large rebound demand, so it can be independent of the performance of the global market. After the continuous rebound, although the speed will slow down, at present, there is still room for the rebound, so the rebound is expected to continue, but the fluctuation is expected to increase compared with the previous period. Of course, since there are no overly optimistic factors, we believe that it is still a trading opportunity, still an important capital flow and sector switching.
Individual stocks are still active. The market continued to rebound and individual stocks remained active. From the perspective of individual stock growth, the individual stocks with larger growth are automobile and infrastructure stocks, and the major decline is risk stocks and early active stocks. From the concept index, the concept of new energy is strong, forming a cluster, while the concept sector at the forefront of the decline is mainly related to epidemic prevention concepts such as medicine. In terms of industry, the electrical equipment, non-ferrous metals and automobile industries are better, while the banking, pharmaceutical and biological industries are weaker. The game of stock funds is still based on rebound. Individual stocks perform better than the index, but the hot spots are relatively concentrated and the mood is relatively happy. The technology growth stocks we have always suggested to pay attention to rebounded as promised, and the new energy, electronics and other sectors performed better. At the same time, automobile and other consumption policies are expected to be good, and the performance of industries is still outstanding. However, in the case of the game of stock funds, we should pay attention to the short-term fluctuations of continuously strengthening sectors, which is determined by the short-term characteristics of the market. After the continuous strength of new energy, we can focus on the valuation and repair of information sectors such as semiconductor, cloud computing and big data that have not yet made outstanding performance. We still believe that the repair of valuation will be the theme of the second quarter. The repair sustainability of emerging industries is more optimistic, but we only pay attention to the fluctuation after the short-term increase is too large.
The stock game has not been changed. On the whole, the demand for the return of the Chinese market’s own valuation has walked out of a relatively independent rebound trend on the basis of a high margin of safety, which is in line with our prediction. Of course, after a continuous rebound, it is expected that the pace of rebound in the future will slow down and short-term shocks will appear. After all, the overseas market and geographical conflicts are still unstable, there is no obvious incremental capital in the market, and the characteristics of the stock game remain unchanged. Therefore, we continue to use the trading strategy to seize the opportunity to stabilize growth, promote consumption and promote the growth of science and technology. The focus is still on the scientific and technological growth sector with large space for valuation repair, including new energy, semiconductor, cloud computing and so on.
