CITIC Securities: Grasp the mid-term repair market throughout the second and third quarters_ Securities Times Network

Securities Times Network News, CITIC Securities pointed out that with reference to the experience of Xi’an, Shenzhen and Jilin, mid-April is expected to be the inflection point of the current round of Shanghai’s epidemic, and it is also a key window for the second effort to stabilize the growth policy. third quater. On the one hand, in this round of local epidemics, the newly confirmed cases in Shanghai are expected to usher in an inflection point in mid-April. It is expected that after this round of local epidemics is effectively controlled, local policies will be rebalanced between epidemic prevention and control and economic development to alleviate the situation. economic pressure. On the other hand, it is expected that the disclosure of economic data will lead to a second focus on the policy of stabilizing growth. Among them, the “package” policy for real estate will continue to increase, and mid-April is also a key window for policy interest rate cuts. To sum up, if the inflection point of the epidemic and the policy force are superimposed as expected, the mid-term recovery of the A-share market will run through the second and third quarters. And in the second quarter, we will focus on the real estate and infrastructure industry chain.