Summary
[Haitong Strategy: After the beginning of the year’s fall, the spring market can still be allocated in a balanced structure]Haitong’s strategy research report pointed out that the high and low sectors of the year will be switched, and the four major sectors will be compared horizontally: new energy has high valuations and high prosperity, and valuation digestion needs to wait for the market The environment changes. Financial real estate valuations are at the bottom and institutions are underweight. Historically, there is also considerable room for valuation restoration. The countercyclical sector has benefited from the policy of stabilizing growth, which is already in force. The distressed industry is expected to reverse this year, and a clear turning point of performance needs to wait for the “April Decision.” With reference to history, the spring market is still expected after the beginning of the year’s decline, with balanced structural allocation, underestimated big finance + policy-driven new and old infrastructure. (E company)
Haitong StrategyResearch reportIt is pointed out that in the beginning of the year, the level of the sector is switched, and the four major sectors are compared horizontally: new energy is highly valued and prosperous, and valuation digestion needs to wait for the market environment to change. Financial real estate valuations are at the bottom and institutions are underweight. Historically, there is also considerable room for valuation restoration. The countercyclical sector has benefited from the policy of stabilizing growth, which is already in force. The troubled industry is expected to reverse this year,PerformanceIt is necessary to wait for the “April Decision” to clarify the turning point. With reference to history, the spring market is still expected after the beginning of the year’s decline, with balanced structural allocation, underestimated big finance + policy-driven new and old infrastructure.
(Article source: e company)
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