A shares reproduce the market of great differentiation. Yesterday, the large financial sector supported the index, and individual stocks showed a general downward trend. Driven by financial stocks, the Shanghai 50 index rose strongly, but more than 3800 stocks fell in Shanghai and Shenzhen. In terms of capital, the net purchase of funds from the North against the trend exceeded 10 billion yuan, mainly flowing to the Shanghai stock market.
As of the closing, the Shanghai Composite Index fell 0.09% to 3555.06 points, while the Kechuang 50 index fell 1.36%; The Shenzhen Component Index fell 0.06% and the gem index fell 0.32%. The turnover of Shanghai and Shenzhen stock markets was 1.13 trillion yuan, which was higher than that of the previous trading day.
Yesterday, northbound funds bought a net unilateral purchase of 12.576 billion yuan throughout the day, a new high since December 9 last year. Among them, the net purchase of Shanghai Stock connect was 7.836 billion yuan and that of Shenzhen Stock connect was 4.74 billion yuan. Among the top ten traded stocks, many financial stocks were bought by northbound funds. The purchase amount of China Merchants Bank Co.Ltd(600036) , Ping An Insurance (Group) Company Of China Ltd(601318) , Ping An Bank Co.Ltd(000001) ranked in the top three, with net purchases of 1.71 billion yuan, 1.353 billion yuan and 858 million yuan respectively.
Since the beginning of the year, the A-share market has been bumpy, but northward funds have frequently increased their positions in the large financial sector. On the disk yesterday, banks, non bank finance and other large financial sectors made efforts to protect the disk. LPR fell to the ground, banking sectors rose one after another, Bank of Lanzhou rose the limit, Qilu Bank Co.Ltd(601665) , Ping An Bank Co.Ltd(000001) , Bank Of Hangzhou Co.Ltd(600926) and other gains were ahead.
Since the beginning of this year, the cumulative increase of the banking sector has remained at the forefront of ETFs in all industries in the whole market, and the bank ETF (512800) has soared by 6.54% this year.
Huatai Securities Co.Ltd(601688) firmly optimistic about the repair market of the banking sector. Its analysis shows that in terms of policy, the signal of steady growth is clear; In terms of fundamentals, the performance Express reported good news one after another. It is expected that the annual performance growth rate of listed banks in 2021 is expected to continue at a high level; In terms of capital, the market style has switched from high valuation sector to low valuation sector. At present, Pb in the banking sector is still at a historical low of nearly 10 years and is expected to receive additional funds.
The brokerage sector also generally rose yesterday, Chinalin Securities Co.Ltd(002945) limit, China Greatwall Securities Co.Ltd(002939) , Guotai Junan Securities Co.Ltd(601211) , Huatai Securities Co.Ltd(601688) and other gains were among the top. Financial it concept stocks were active, Shenzhen Ysstech Info-Tech Co.Ltd(300377) hit the daily limit of 20%, and Sinodata Co.Ltd(002657) , Hyunion Holding Co.Ltd(002537) and other daily limits.
Gao Gao, chief non bank analyst of Kaiyuan securities, said that the landing of “interest rate cut” is conducive to the improvement of risk appetite in the equity market. From the stage of wide liquidity to wide credit, brokerage stocks have benefited significantly. From January 1, 2019 to April 19, 2019, the brokerage index rose by 52% and the excess return reached 15 percentage points (compared with the CSI 300 index).
Covid-19 detection and drug related concepts continued to strengthen, Shanghai Kaibao Pharmaceutical Co.Ltd(300039) limit. Yuan universe, cloud games, blade batteries, educational concepts, auto parts and other sectors have a relatively weak trend.
Looking forward to the future, Aijian Securities said that the shock adjustment since the beginning of the year has not broken the market pattern, and the market is still operating within the shock range. In the short term, the game characteristics of sector rotation and 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, most of the indexes also show signs of stabilization. From a strategic perspective, consumption and technology are still the main line of the market, and we can pay attention to the allocation opportunities brought by its adjustment.
Wanlian Securities believes that the series of policies of “stable growth” and “wide credit” are expected to continue to work, and the A-share liquidity environment will improve, which may boost investor sentiment and benefit the undervalued financial sector. A shares may rebound in the short term, and industries supported by policies deserve close attention.
