Viewpoint: according to PMI data for two consecutive months, the economy has rebounded, but on the whole, it is still anti pumping, and the downward pressure is still large. However, the data recovery may boost the market in the short term. In addition, with the support of relatively stable fundamentals and liquidity, the market as a whole has maintained a good foundation. After the central bank cut the reserve requirement and LPR in the fourth quarter of last year, the central bank cut the MFL and reverse repo interest rate in the beginning of the year, the monetary easing cycle gradually opened, and the market as a whole was still boosted under the expectation of abundant liquidity. in the short term, the data show that the economic stage stabilizes, while the reduction of MLF and reverse repo interest rate leads to the decline of real interest rate. Under the support of fundamentals and the expectation of loose liquidity, the logic of the market is still good. Under the short-term consolidation, it is still a good time to latent spring market.
Today, both Shanghai and Shenzhen markets opened low. They fell after the opening shock. They went down for many times and rebounded after the end shock. On the disk, the market showed differentiation in the overall downturn, the new energy track continued to fall, medicine and semiconductors ushered in a retreat, while the steady growth and news boosted online games and other sectors were active. Specifically, building materials led the rise, while media, household appliances, building decoration and light industry manufacturing led the rise, while power equipment led the decline, while non-ferrous metals, national defense and military industry and basic chemical industry fell.
The market fell as a whole on the same day and continued to show differentiation. Among them, the lithium sector fell, Eve Energy Co.Ltd(300014) was close to the limit, the whole sector also ushered in adjustment, and the gem was frustrated; In addition, Changchun High And New Technology Industries (Group) Inc(000661) fell to the limit. The stock’s limit may be related to the news of centralized purchase. According to the document on centralized procurement of diclofenac and other drugs of Guangdong alliance published on the website of Guangdong provincial drug trading center on January 19, a variety of recombinant human growth hormone are in the centralized procurement catalogue, including the recombinant human growth hormone injection solution of Changchun kinsai Pharmaceutical Co., Ltd., a holding subsidiary of Changchun High And New Technology Industries (Group) Inc(000661) (gyzz s20050025). Among the 276 drug purchase lists, Changchun High And New Technology Industries (Group) Inc(000661) subsidiary kinsay pharmaceutical and Anhui Anke Biotechnology (Group)Co.Ltd(300009) recombinant human growth hormone were included in the centralized purchase.
In fact, Changchun High And New Technology Industries (Group) Inc(000661) This is not the first time because of the decline of centralized purchase news. This lesson also tells us that under the influence of possible events, we should try not to touch sensitive objects. In addition, the adjustment of the lithium battery sector is not a day or two. Its core is the previous huge increase and the demand for phased valuation pullback. Investment as a whole still needs to follow the trend, not go against the trend.
Since December last year, the main tone of steady growth has been gradually clarified, and the market has also ushered in a gradual style transformation, that is, from growth targets such as high overvalued value to blue chips with low undervalued value. During this period, blue chips, including finance and real estate industry chain, have made eye-catching performance, but subject stocks have been depressed as a whole, which is the so-called homeopathy. Of course, there is no need to worry too much about growth stocks. After all, the current fundamentals are stable, the expectation of loose liquidity is increasing, the overall support and boost of the market remain, the spring market can still be expected, and the consolidation is still a good time for allocation.
All day long, the economic stage bottomed out, and monetary policy also ushered in a loose signal. Under the support and boost of the market, the overall logic for the better has not changed. The stock market is a barometer of money. The monetary easing policy has been started, and the release signal is also obvious. Therefore, there is no need to worry about liquidity in at least the first quarter, which will also support and boost the spring market to a certain extent. Although the adjustment since the beginning of the year has slightly exceeded expectations, it is still a good allocation opportunity under the positive trend in the medium term. It is suggested to continue to focus on the allocation of undervalued blue chips. At the same time, under the good prosperity, bargain hunting can also be considered for the sorted new energy, semiconductors and other varieties.
