The A-share market still maintained a weak pattern, the Shanghai index fell behind the annual line again, the turnover in Shanghai and Shenzhen was less than trillion yuan, and the northward funds continued to sweep goods strongly.
On January 21, the three major stock indexes opened slightly lower. Under the influence of the ebb tide of epidemic prevention concept stocks, the two cities fluctuated lower.
By the close on January 21, the Shanghai Composite Index fell 0.91% to 3522.57 points; The Kechuang 50 index fell 1.2% to 1290.41; The Shenzhen composite index fell 1.19% to 14029.55 points; The gem index fell 1.02% to 3034.68.
So far this week, the Shanghai Composite Index rose 0.04%, the Kechuang 50 index fell 1.67%, the Shenzhen Component Index fell 0.86% and the gem index fell 2.72%.
Wind statistics show that 1391 in the two cities rose, 3155 fell and 142 flat.
On January 21, the total turnover of Shanghai and Shenzhen stock markets was 984.5 billion yuan, a decrease of 144.5 billion yuan compared with 1129 billion yuan on the previous trading day. Among them, the turnover in Shanghai was 417.8 billion yuan, a decrease of 41.9 billion yuan compared with 459.7 billion yuan on the previous trading day, and the turnover in Shenzhen was 566.7 billion yuan.
A total of 58 stocks in Shanghai and Shenzhen rose by more than 9%, and 112 stocks fell by more than 9%.
The total net inflow of northbound funds on January 21 was 8.758 billion yuan. Among them, the net inflow of Shanghai Stock connect was 4.351 billion yuan and that of Shenzhen Stock connect was 4.407 billion yuan. So far, the total net inflow of northward funds this week was 29.197 billion yuan.
Baijiu stock market led
In terms of sectors, the epidemic prevention concept stocks led by the pharmaceutical and biological sector declined across the board, Nanjing Hicin Pharmaceutical Co.Ltd(300584) (300584), Xinxiang Tuoxin Pharmaceutical Co.Ltd(301089) (301089), Jiangxi Fushine Pharmaceutical Co.Ltd(300497) (300497), Hubei Goto Biopharm Co.Ltd(300966) (300966), Hybio Pharmaceutical Co.Ltd(300199) (300199), Guangdong Jiangxi Wannianqing Cement Co.Ltd(000789) (301111) and nearly 20 stocks fell by the limit or more than 10%.
The performance of national defense industry was poor, Avic Heavy Machinery Co.Ltd(600765) (600765) fell by the limit, Chengdu Tianjian Technology Co.Ltd(002977) (002977), Avic Electromechanical Systems Co.Ltd(002013) (002013), Avic Aviation High-Technology Co.Ltd(600862) (600862), Avic Shenyang Aircraft Company Limited(600760) (600760), Changchun Up Optotech Co.Ltd(002338) (002338), etc. fell by more than 5%.
Baijiu stock market led two cities, leading Kweichow Moutai Co.Ltd(600519) (600519) rose slightly, Wuliangye Yibin Co.Ltd(000858) (000858) rose more than 2%, Anhui Gujing Distillery Company Limited(000596) (000596), Anhui Yingjia Distillery Co.Ltd(603198) (603198), Shede Spirits Co.Ltd(600702) (600702) and so on rose more than 3%.
The catering and tourism sector strengthened, Huatian Hotel Group Co.Ltd(000428) (000428), Xi’An Qujiang Cultural Tourism Co.Ltd(600706) (600706), Yunnan Tourism Co.Ltd(002059) (002059) and other trading limits, Utour Group Co.Ltd(002707) (002707), Anhui Jiuhuashan Tourism Development Co.Ltd(603199) (603199), China Tourism Group Duty Free Corporation Limited(601888) (601888) and other sectors rose by more than 3%.
the prelude to the market switching from growth style to value is about to open
Guotai Junan Securities Co.Ltd(601211) believes that on the whole, the liquidity pattern of large cap stocks and small cap stocks is becoming more and more obvious, and the adjustment pressure of small cap stocks is not over. Despite the favorable policies, there are still some concerns at the market level. The market may continue to adjust slightly after the year before and after the year. In the short term, subject stocks are likely to make up for the decline in an all-round way. Therefore, in the direction, we can continue to focus on large market value varieties such as consumption, finance and infrastructure, as well as relevant risk aversion sectors, waiting for the subject stocks to make up for the decline further.
Guosheng Securities believes that since stepping back on the front-line support of 3520 points on January 14, the Shanghai index has started a restorative rebound after stabilizing, and the trading sentiment has been further repaired, but the market sentiment differentiation is obvious, and it is difficult to choose the direction in the short term. On the whole, under the general stable tone of market liquidity, the short-term market may still be dominated by low absorption, so we can actively pay attention to the hot topics related to digital economy in the current market and look for individual stock opportunities. Operationally, with the end of 2021, the market may be able to open the industry valuation improvement expectations with clear lines of annual report performance, accumulate market opportunities after the festival, and be more cautious about the risks caused by market fluctuations before the year.
Minsheng Securities believes that at present, the year-on-year growth rate of M2 – social finance has rebounded for 9 months (historically, the growth rate of social finance has stabilized and rebounded after 10-19 months), and the absolute value of the difference is close to the level of April 2020. According to the historical law, in the stage of social finance rebounding again, from the median rate of return, the value style will prevail in an all-round way. Of course, wide credit is not the whole problem, but the next marginal change in the market. We recognize that the rhythm is uncertain, but investors who need to stay in the market do not have a better choice. There is no difference between long inflation and long demand at present. Don’t hesitate, the prelude to the market switching from growth style to value is about to open. Recommended: nonferrous metals (copper, aluminum, gold), banking, coal, real estate, steel and electricity. In terms of style index, dividend and value style still need to be switched quickly. At the level of broad-based index, Shanghai Stock Exchange 50 and China Stock Exchange 500 are more dominant. In particular, the weight of small and medium-sized value style is the leading factor of CSI 500, and the profit contribution of the cycle is the reason for its “undervaluation”, in which investors need to select the right structure.
