Today (January 20), after the Shanghai and Shenzhen stock markets opened low across the board, the stock index inertia fell. Since then, it gradually stabilized and rose, and quickly rose and fell. In the afternoon, the stock index fluctuated again and again, and the big financial support prompted the performance of the Shanghai index to be relatively resistant to decline, while the subject stocks continued to be depressed, further dragged down the gem index, and the weak pattern was at a glance.
As of the day’s close of Shanghai and Shenzhen stock markets, the Shanghai index fell 0.09% to 3555.06 points; The Shenzhen Component Index fell 0.06% to 14198.30 points; The gem index fell 0.32% to 3065.99.
From the disk point of view, the industry and concept sectors fell more or rose less, and the local profit-making effect is general. In terms of industries, insurance, securities, banking, airports, precious metals, wine making and other industries saw the highest growth; In terms of theme stocks, the concept of brokerage, chicken, super brand and pork have strengthened against the market.
In terms of capital, the people’s Bank of China announced on January 20 that in order to maintain the reasonable and abundant liquidity of the banking system, the people’s Bank of China launched RMB 100 billion reverse repurchase operation by means of interest rate bidding on January 20, 2022. Today, 10 billion yuan of reverse repo expired, so a net investment of 90 billion yuan in a single day.
hot sector
Top 10 of industry sector increase
Top 10 of industry sector decrease
Top 10 of concept sector increase
Top 10 of concept sector decrease
individual stock monitoring
Top 10 net inflow of main force
Top 10 net outflow of main force
northbound funds
southbound fund
message plane
1. According to the securities times, the central bank recently announced that the quoted interest rate (LPR) of China’s one-year loan market in January was 3.7%, compared with 3.80% last month. The market quoted interest rate (LPR) of the five-year loan was 4.6%, up from 4.65% last month.
2. According to china.com on January 20, Yang Jinrui, deputy director of the population and family Department of the National Health Commission, said at the press conference that all sectors of society pay extensive attention to optimizing the fertility policy, the three child fertility policy and supporting measures are implemented smoothly, and a fertility friendly social environment is gradually taking shape. Next, the National Health Commission will work with relevant departments to further implement the spirit of the central decision, guide all localities to organize and implement the three child fertility policy, and study and introduce more positive fertility support measures.
3. According to Xinhua news agency, the general office of the State Council recently issued the opinions on promoting the development of domestic and foreign trade integration, making arrangements for promoting domestic and foreign trade integration, forming a strong Chinese market and unblocking China’s international double cycle.
4. According to the news report of China Central Television, on January 20, the State Council Information Office held a press conference to introduce the operation of agriculture and rural economy in 2021. Zeng Yande, chief agronomist of the Ministry of agriculture and rural areas and director of the development planning department, introduced that grain and agricultural production have achieved another bumper harvest, the foundation for ensuring national food security has been consolidated and improved, and grain output has reached a record high. In 2021, the sown area of grain was 1.764 billion mu, an increase of 12.95 million mu over the previous year, the yield per mu was 387 kg, an increase of 4.8 kg, the yield was 1365.7 billion kg, an increase of 26.7 billion kg from the high base. Pig production has fully resumed. By the end of 2021, there are 43.29 million fertile sows in China, and the production capacity has returned to a reasonable level. The annual pork output was 52.96 million tons, an increase of 28.8% over the previous year, basically reaching the level of historical normal years.
institutional view
For the current market, Orient Securities Company Limited(600958) pointed out that the market still belongs to the bottom building market after the decline. The continuous rebound of the stock index in the future depends on the off-site incremental funds and the hot spot leading the rise. At present, the market does not have such conditions, and the Shanghai Composite Index is more likely to continue to fluctuate slightly around the annual line in the short term. At the operational level, focus on the growth varieties with clear growth expectations in the annual report. In the industry, you can look for investment opportunities in science and technology sectors such as electronics, communications and computers.
It is noteworthy that Huaxin Securities said that the 10-year US bond interest rate is the discount rate index of the global capital market. After the continuous upward trend, there is valuation pressure on the global capital market, especially the growth style is more sensitive to the discount rate. Returning to the A-share market, the 5-year LPR probability decreased. Combined with the oversold situation of the market, the probability before the festival stabilized after digging the pit.
Shanxi Securities Co.Ltd(002500) believes that the current asset prices have partially fulfilled the expectations of easing, the response of the A-share market to the implementation of subsequent easing policies may be relatively “calm”, and the market “structural bull” trend remains unchanged. It is suggested to focus on the undervalued blue chip targets in the configuration.
In terms of operational strategy, Huaxi Securities Co.Ltd(002926) pointed out that considering the current loose monetary policy in China and the overall reasonable valuation of a shares, incremental foreign investment is also expected to continue to flow into the A-share market. In terms of configuration, the “undervalued blue chip” is the main one: first, it is related to traditional infrastructure, such as banks and building materials; Second, the real estate and its upstream and downstream industrial chain benefiting from the marginal improvement of real estate policy. Focus on topics: digital economy, meta universe, traditional Chinese medicine, etc.
China International Capital Corporation Limited(601995) put forward configuration suggestions: 1) areas potentially supported by marginal changes or forces of policies, including industrial chains related to stable demand for infrastructure and real estate (construction, building materials, household appliances, home furnishings, real estate, etc.), potential areas of consumption support, securities companies, etc.
2) for the middle and lower reaches consumption that has been adjusted this year, the valuation is not high, and the medium and long-term prospects are still clear, choose stocks from bottom to top, including household appliances, light industry and household appliances, automobiles and parts, Internet and media, agriculture, forestry, animal husbandry and fishery, food and beverage, medicine, aviation and hotels, etc.
3) the short-term share price of the manufacturing growth sector with a large increase last year may be restrained, including new energy vehicles, new energy and technology hardware semiconductors. The potential turnaround depends on the change of market style again, and the potential time point may be at the end of the first quarter and the beginning of the second quarter.
