Today (January 26), the Shanghai and Shenzhen stock markets opened high across the board. At the beginning of the session, the stock index inertia rose, and then rose and fell. Due to the weak upward attack, the stock index plunged further in the afternoon. However, the securities sector made efforts to protect the market, led the index to reverse, and after a strong turn red, the stock index rose again, with a panoramic view of the rebound pattern.
As of the close of Shanghai and Shenzhen stock markets all day, the Shanghai index rose 0.66% to 3455.67 points; The Shenzhen Component Index rose 0.70% to 13780.30 points; The gem index rose 0.99% to 3004.41 points, recovering the 3000 point mark.
From the disk point of view, the rise and fall of industry and concept sectors are different, and the local profit-making effect is still in existence. In terms of industry, wind power equipment, engineering construction, securities, cement and building materials, logistics, petroleum and other industries led the increase; In terms of theme stocks, virtual power plants, assembly buildings, photovoltaic building integration, organic silicon, combustible ice, pumped storage, wind energy and other gains were higher.
In terms of capital, the people’s Bank of China announced on January 26 that in order to maintain stable liquidity before the Spring Festival, on January 26, 2022, the people’s Bank of China carried out 200 billion yuan 14 day reverse repurchase operation by means of interest rate bidding, with the bid winning interest rate of 2.25%. Since 100 billion yuan of reverse repo expired today, 100 billion yuan was invested 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, on January 26, the official website of the yuan universe Industry Committee of China Mobile Communications Federation announced the third batch of 14 member acceptance lists (including individuals), of which Trs Information Technology Co.Ltd(300229) (300229), S.P.I Landscape Design Co.Ltd(300844) (300844) and other listed companies were included in the list.
2. The central bank announced on January 26 that in order to crack down on the illegal and criminal activities of money laundering according to law and further improve the risk prevention and control system of money laundering, recently, the people’s Bank of China, the Ministry of public security, the State Supervision Commission, the Supreme People’s court, the Supreme People’s Procuratorate, the Ministry of state security, the General Administration of customs, the State Administration of Taxation, the banking and Insurance Regulatory Commission, the CSRC The State Administration of Foreign Exchange jointly issued the three-year action plan for combating and controlling money laundering crimes (2022-2024), and decided to carry out the three-year action for combating and controlling money laundering crimes nationwide from January 2022 to December 2024. The leading units of the three-year action are the people’s Bank of China and the Ministry of public security.
3. According to the website of the Ministry of Commerce, recently, the Ministry of Commerce and other six departments jointly issued the guiding opinions on the high-quality implementation of the regional comprehensive economic partnership agreement (RCEP) (hereinafter referred to as the Guiding Opinions), so as to provide guidance for local governments and enterprises to seize the development opportunities of RCEP and achieve better development. The goal of the guiding opinions is to fully implement the market opening commitments and rules stipulated in the agreement, guide local governments, industries and enterprises to adapt to a more open environment and more full competition in the regional market, better grasp the opportunities brought by RCEP and promote high-quality economic development.
4. According to the website of the Ministry of finance, from January to December 2021, the main benefit indicators of national state-owned and state holding enterprises (hereinafter referred to as state-owned enterprises) maintained growth, and the state-owned economy operated steadily. From January to December, the total profit of state-owned enterprises was 4516.48 billion yuan, a year-on-year increase of 30.1% and an average increase of 12.1% in the two years. Among them, central enterprises reached 2861 billion yuan, a year-on-year increase of 27.0%, with an average increase of 12.4% in the two years; Local state-owned enterprises reached 1655.47 billion yuan, a year-on-year increase of 35.9% and an average increase of 11.5% in the two years.
institutional perspective
For the current market, Huatai Securities Co.Ltd(601688) believes that from now to the Spring Festival, the “entanglement” between short-term hedging demand and medium-term policies still exists, and the probability of market shock stabilizing is high. From the end of the festival to the window period of the two sessions, the suppression of short-term hedging is lifted, the strength of medium and long-term policies is expected to increase, and A-Shares are expected to rebound in stages after “squatting”, That is, enter the first half of the second stage within the range from the end of the policy to the end of the valuation (increased policy efforts and market repair).
Haitong Securities Company Limited(600837) said that the Federal Reserve’s interest rate discussion fell on Wednesday night and the PMI fell on the weekend. The mandatory annual report forecast disclosure ended. On the contrary, there were no uncertain events after the Spring Festival in February. In the short term, we still maintain the pre holiday strategy: stay sober, stay drunk, sit on the sidelines and wait for the rebound opportunity after the festival. In particular, there are only three trading days left from the long Spring Festival holiday, and the uncertainty of the peripheral stock market has increased significantly. It is suggested that investors hold money for the festival and operate after the market is clear after the festival.
YueKai Securities pointed out that investors should “look at the long scenery”. Under the theme of “focus on me”, steady growth is still the focus of the market in the near future. Whether it is broad money or credit, the policy underpinning economy is worth looking forward to. For the future market, the pre festival market pursues certainty, the performance of blue chip in the large market is better than that of small and medium-sized markets, the policy expectation after the festival rises again, and the market turns to pursue high elasticity. It is expected that steady growth in the first quarter is still the main market, and it is expected to take the lead in opening a wave of market dominated by large cap stocks.
In terms of allocation ideas, first, pay attention to the performance of large cap stocks in the near future. There is a strong demand for phased reverse switching in large cap stocks. Focus on the main line of steady growth and undervalued value, real estate, building materials, household appliances in the infrastructure and real estate chain, as well as leisure services, food and beverage and other consumer industries that expand domestic demand.
Second, pay attention to the performance of small and medium-sized markets throughout the year. This year’s marginal change at the denominator end has supported the trend of small and medium-sized stocks. In the stage of steady growth, we pay attention to the investment direction dominated by expected improvement and relative profit growth, and the energy transformation, high-end manufacturing, digital economy and other directions supported by high-quality transformation and development.
Huaxi Securities Co.Ltd(002926) mentioned that near the Spring Festival, A-Shares are affected by the disturbance of the Federal Reserve’s monetary policy and the uncertainty of the news before the long holiday, the power of incremental funds to enter the market is insufficient, and A-Shares still show the characteristics of structural market. Since December, China’s steady growth policy has made forward-looking efforts. The central bank has cut reserve requirements and interest rates one after another, and there is still room for subsequent interest rate cuts. The market is in a “wide money” window period, and macro liquidity is expected to remain relatively loose. Structurally, “wide credit” is the ultimate demand of the central bank for wide money. Infrastructure and real estate are important. The real estate regulation policy is expected to be marginal loose. Urban renewal, affordable housing construction and new infrastructure are the key directions.
In terms of operational strategy, the agency further suggested that “blue chips with undervalued value” should be the main ones: first, traditional infrastructure related, 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.
