The reporter of China Securities News Agency learned that an information management person in the insurance industry disclosed that they could not carry the large-scale position adjustment of an institution for the first time today. The position adjustment direction is big blue chip. As of the closing this morning, Shanghai 50ETF rose 1.7%, but A-Shares fell more or rose less as a whole.
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Comments: the Shanghai Stock Index fluctuated slightly and financial stocks collectively strengthened, with a net purchase of more than 12 billion yuan from the north
On January 20, the stock index maintained a narrow shock trend. Driven by the financial and wine sectors, it once rose, and turned green again near the end of the day; Shenzhen Composite Index and gem index also fell in the afternoon; The turnover of the two cities has been enlarged, with a daily turnover of more than 1.1 trillion; There was a large net inflow of funds from the north, with a net purchase of more than 12 billion yuan throughout the day.
As of the close, the Shanghai index fell 0.09% to 3555.06 points, the Shenzhen composite index fell 0.06% to 14198.3 points, the gem index fell 0.32% to 3065.99 points, and the Shanghai 50 index rose 1.46%; The total turnover of the two cities was 1129 billion yuan, and the net purchase of funds from the North was 12.576 billion yuan.
On the disk, insurance, securities companies, banks and wine making sectors collectively rose, and topics such as the concept of chicken and pork and digital currency were active; Oil, automobile, military industry, chemical industry and other sectors led the decline, while yuancosmos, industrial mother machine, lithium mine, online game, consumer electronics, rare earth and BIPV concept all weakened.
For the recent market trend, Aijian Securities said that the shock adjustment of the market has not broken the market pattern, and the market is still operating within the shock range. The short-term sector of the market rotates, the game characteristics of stock funds have not changed, and the trading volume is still maintained, so there is no need to be too pessimistic. At the same time, from the adjustment of various indexes, most of them also show signs of stabilization. The overall market valuation is not high, and the downward space is limited. We believe that the strategy is cautious but not pessimistic. From a strategic perspective, consumption and science and technology are still the main line, paying attention to the allocation opportunities brought by the main line opportunity adjustment.
Wanlian Securities pointed out that since 2022, in the market where the liquidity of A-Shares is less than expected and there is no main line, the market sentiment has remained depressed. Combined with the recent sharp rise in U.S. bond yields and the spread of the epidemic in China, A-Shares have shown a downward trend. It is worth noting that, first, the series of policies of "steady growth" and "wide credit" are expected to continue to work, and the pessimistic expectation of the market on enterprise profits is expected to gradually ease. Recently, the pace of issuance of special bonds and the pace of examination and approval of infrastructure projects have accelerated, and the landscape of infrastructure industry chain continues to pick up; Second, the A-share liquidity environment is improving. On January 17, the people's Bank of China simultaneously lowered the MLF and reverse repo interest rates by 10 BP in anticipation of the Fed's interest rate hike, reflecting the idea that monetary policy is dominated by China. The policy focus remains the same in the direction of steady growth, cost reduction and structural adjustment. Further monetary easing will improve the liquidity environment of Panasonic A-share market, which may boost investor sentiment and benefit the undervalued financial sector. Third, the successive convening of the two sessions will strengthen the market's expectations for steady growth. At the same time, with the determination of policy ideas, the relevant industrial support policies are expected to provide the market with the main idea of allocation, and the industries supported by the policies deserve close tracking and attention. It is expected that there will be a round of rebound in short-term A shares. In terms of industry allocation: 1) in the near future, industry allocation opportunities with annual performance forecast exceeding expectations can be explored; 2) Under the favorable interest rate cut, continue to pay attention to the undervalued banks and securities companies; 3) The logic of "steady growth" remains unchanged. Under the goal of carbon neutrality, green infrastructure in the infrastructure field is expected to accelerate the expansion, and UHV, 5g and other fields also deserve continuous attention.
