March 14,Shanghai IndexOpening low and going low, the intraday dropped sharply, the Shanghai Composite Index fell by more than 2.5%, the Shenzhen Component Index,GEM refers toBoth fell by more than 3%; the transaction volume of the two cities shrank and returned to below one trillion yuan again; there was a substantial net outflow of northbound funds, and the net sales exceeded 14 billion yuan throughout the day.
As of the close, the Shanghai Composite Index fell 2.61% to 3,223.53 points, the Shenzhen Component Index fell 3.08% to 12,063.63 points, and the ChiNext Index fell 3.56% to 2,570.45 points; the two cities had a total turnover of 969.9 billion yuan, and northbound funds sold a net 14.408 billion yuan.
On the disk, sectors such as tourism, winemaking, oil, coal, and electricity have fallen sharply.gas,colored,semiconductoragriculture, steel, building materials,insurance、Bankand other sectors were weakened; the concepts of east and west computing, rare earth, energy storage, and photovoltaics were collectively lower, and the concepts of electronic identity, new crown medicine, and new crown detection were active against the market.
CICCIt is believed that in the medium term, the Chinese market may be relatively resilient: 1) China is in a relatively favorable growth and policy cycle, and there is relatively ample room for “stable growth” policy reserves, and growth may gradually improve around the second quarter; 2) China’s market valuation At a relatively low level in history, it also has attractive valuations compared with other major markets; 3) Currently, China, as an important manufacturing power in the world, has the world’s largest and relatively complete industrial chain, and inflationary pressures may be relatively controllable. The Chinese market may be relatively more resilient amid supply risks. Structurally, the short-term low-valued “stable growth” sector may have relative gains. After the macro risks gradually subside, the high-prosperity growth areas and the cost-squeezed mid- and downstream manufacturing industries may usher in a turnaround.
Currently focusing on three directions: 1) Potentially supportive areas for policy efforts, including infrastructure, real estate and related industry chains (building materials, construction, home appliances, home furnishing, etc.),brokerageFinance, etc.; 2) Mid-stream and downstream consumption with more adjustments in 2021, low valuation, and still bright medium and long-term prospects, choose stocks from the bottom up, including home appliances, light industry and home furnishing, automobiles and parts, agriculture, forestry, animal husbandry and fishery, medicine etc.; 3) Manufacturing growth sectors, including new energy vehicles, new energy and technology hardwaresemiconductorWait, the risks have been released, and the opportunity will be turned to wait for the marginal mitigation of overseas “inflation” risks.
(Article Source:securitiesTimes Network)