Today (January 21), the Shanghai and Shenzhen stock markets opened low across the board. With the sharp decline of the military industry sector, the stock index fell rapidly, especially the continuous decline of many varieties, which further dragged down the market performance. On the whole, the three major A-share stock indexes showed a pulse downward pattern.
As of the day’s close of Shanghai and Shenzhen stock markets, the Shanghai index fell 0.91% to 3522.57 points; The Shenzhen Component Index fell 1.19% to 14029.55 points; The gem index fell 1.02% to 3034.68, with four consecutive negative days.
From the disk point of view, the industry and concept sectors fell more or rose less, and the local profit-making effect plummeted. In terms of industry, coal, tourism hotels, airports, wine making, energy metals, etc. were among the top gainers. In terms of subject stocks, the concept of tax exemption, online tourism, salt lake lithium extraction, etc. rose slightly.
In terms of capital, according to the news on the central bank’s official website on the 21st, in order to maintain the reasonable and abundant liquidity of the banking system, on January 21, 2022, the people’s Bank of China launched a 100 billion yuan reverse repurchase operation by means of interest rate bidding, and the bid winning interest rate was 2.10%. As 10 billion yuan of 7-day reverse repurchase expired on the 21st, a net investment of 90 billion yuan was realized on the same 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 national development and Reform Commission and other departments issued Implementation Opinions on further improving the service guarantee capacity of electric vehicle charging infrastructure. By the end of the 14th five year plan, China’s electric vehicle charging support capacity will be further improved, and a moderately advanced, balanced, intelligent and efficient charging infrastructure system will be formed, which can meet the charging demand of more than 20 million electric vehicles.
2. According to Shanghai Securities News, the seventh session of the 13th National People’s Congress of Qinghai Province was held in Xining on January 21. Xinchangxing, governor of Qinghai Province, made a government work report. According to the government work report, Qinghai will focus on improving the competitiveness of strategic emerging industries and improve the comprehensive efficiency of salt lake resource utilization by strengthening, extending and supplementing the chain. In order to achieve the goal of “expanding the scale of lithium industry, releasing the capacity of lithium carbonate and improving the level of lithium battery industry”, Qinghai will establish a salt lake industry development fund and introduce a number of high-tech leading enterprises to promote the strength of salt lake industry clusters.
3. According to the securities times, on January 20, the State Council issued the “14th five year plan” for tourism development, which proposed to enhance the vitality of market players. We will strengthen, optimize and expand key tourism enterprises, steadily promote strategic mergers and acquisitions and large-scale, branded and networked operations, and cultivate a number of large tourism groups and tourism enterprises with international influence.
4. On January 21, according to the Ministry of industry and information technology, the Ministry of industry and information technology, the Ministry of science and technology and the Ministry of ecological environment recently jointly issued the action plan for high quality development of environmental protection equipment manufacturing industry (2022-2025), proposing that by 2025, the technical level of environmental protection equipment manufacturing industry will be significantly improved, and a number of key short board technical equipment restricting the development of the industry will make breakthroughs, The supply capacity of high-efficiency low-carbon environmental protection technology and equipment products has been significantly improved to fully meet the needs of major environmental governance. The comprehensive strength of the industry has been continuously strengthened, the core competitiveness has been steadily improved, a number of specialized and new “little giants” enterprises have been created, and a number of single champion manufacturing enterprises in subdivided fields with international competitive advantages have been cultivated, forming a new pattern of financing and development of upstream, middle and downstream, large, medium and small enterprises, and the diversified and complementary development model has become more prominent. The output value of environmental protection equipment manufacturing industry will strive to reach 1.3 trillion yuan.
5. According to the news from the national development and Reform Commission on January 21, the implementation plan for promoting green consumption jointly issued by the national development and Reform Commission, the Ministry of industry and information technology and other seven departments recently proposed that by 2025, the concept of green consumption will be deeply rooted in the hearts of the people, luxury and waste will be effectively curbed, the market share of green low-carbon products will be greatly increased, and remarkable results will be achieved in the green transformation of consumption in key areas, The green consumption mode has been widely implemented, and the consumption system of green low-carbon circular development has initially taken shape. By 2030, the green consumption mode will become the conscious choice of the public, green low-carbon products will become the mainstream of the market, the green low-carbon development mode of consumption in key areas will be basically formed, and the green consumption system, policy system and institutional mechanism will be basically sound.
institutional perspective
For the current market, Huaxin Securities believes that A-Shares are weak and adjusted, and investors in the overall market still hesitate. In addition, the 5-year LPR quotation was lower than expected. Previously, the market generally expected a 10 basis point (BP) reduction, but actually only a 5 basis point (BP) reduction. The continuous rise of 10-year US bond interest rate also put some pressure on growth stocks and suppressed the recovery of market risk appetite. However, at present, the oversold signal of major indexes is obvious, and the deviation signal of momentum index also appears, We believe that the adjustment of A shares before the Spring Festival is coming to an end. The last week is expected to rebound slightly, showing a stable market.
Shenwan Hongyuan Group Co.Ltd(000166) it was mentioned earlier that the market structure was further adjusted, but it was close to the oversold area. It means that although the market is weak, the downward operation space is relatively limited. With the Spring Festival approaching, it is expected to focus on convergence and stabilization and transitional market before the year. At the operational level, it is recommended to pay due attention to the large infrastructure sector with strong bottom and the target of blue chip stocks on the basis of holding positions.
In addition, Soochow Securities Co.Ltd(601555) said that at present, due to the time node, the market is releasing selling pressure in an orderly manner, and there are some signs of oversold in many varieties. From the operational point of view, investors are still mainly on the sidelines, focusing on the undervalued varieties with good texture but recently killed by mistake, and wait for the spontaneous stabilization of the market before subsequent layout.
In terms of the future market, Huaxi Securities Co.Ltd(002926) said that the watershed is ready to go after the Spring Festival. Since the beginning of the year, A-Shares have been disturbed by the Federal Reserve’s monetary policy and the valuation adjustment of the high boom track, and the characteristics of the “spring lack” market are more obvious. Near the Spring Festival, in view of the uncertainty of overseas news during the holiday, some off-site funds stay on the sidelines, and the market may be light. The watershed may be after the Spring Festival, when the path of the Fed’s interest rate increase will be clearer, and China’s liquidity will remain abundant. At the same time, the steady growth policy related to infrastructure and real estate investment continued to work, which became the driving force for A-Shares to get out of the “cold spring”.
Considering that China’s monetary policy is loose and the valuation of A-Shares is reasonable on the whole, 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.
In terms of operation strategy, Guoyuan Securities Company Limited(000728) pointed out that the main line of the current market has not been unified, and it may be tried repeatedly in the process of switching. The pulling up of individual stocks superimposed with the annual report forecast will disturb the sector, with strong long and short uncertainty. It is suggested to pay attention to relevant sectors benefiting from the “steady growth” tone in 2022, such as new and old infrastructure, building materials, etc; At the same time, undervalued financial real estate is also a good choice when the main line of the market hovers; In addition, the inflection point of the future pig cycle is about to appear, and the prosperity of relevant sectors is expected to be boosted in advance. In the medium term, it is expected that the monetary policy will continue to exert force, and the growth style will perform better under the loose cycle, followed by consumption.
