The broader market opened lower yesterday,GEM refers toBoth the Shenzhen Component Index and the Shenzhen Component Index hit a new low for the year, and the ChiNext Index recorded its biggest one-day drop since March 9 last year. The turnover of the Shanghai and Shenzhen stock exchanges was 1,014.6 billion, an increase of 8.3 billion compared with the previous trading day. In terms of sectors, childcare services,precious metalnew crown treatment, fertilizer,educateand other sectors among the top gainers, airport shipping, tourism, automotive chips,Ningde eraConcept stocks and other sectors were among the top losers. As of yesterday’s close,Shanghai IndexIt fell 2.17%, the Shenzhen Component Index fell 3.43%, and the ChiNext Index fell 4.3%.The net sales of northbound funds were 8.271 billion yuan throughout the day, of whichShanghai Stock ConnectNet sales of 5.286 billion yuan,Shenzhen Stock ConnectNet sales of 2.985 billion yuan.
Overnight, the three major U.S. stock indexes closed down collectively, the Dow fell 2.38%, the S&P 500 fell 2.96%, the largest closing decline since October 2020, the Nasdaq fell 3.62%, and airline stocks and technology stocks fell one after another.Nvidiafell nearly 7%,Amazonfell more than 5%, Google fell more than 4%,Tesla、Microsoftfell more than 3%,Applefell more than 2%. Most popular Chinese concept stocks fell,Bilibilifell more than 8%,Xiaopeng Motorsfell more than 7%,Pinduoduo、Baidufell more than 6%,Jingdongfell more than 4%.
todaybrokerageMorning Meetingup, Hua FusecuritiesIt is pointed out that the surge in energy has caused stagflation concerns, and the main line of stable growth is concerned;Northeast SecuritiesSaid that he is concerned about stable growth-oriented industries with relatively low valuations and improved profit margins; in terms of sector opportunities,Tianfeng Securitiespointed out,securitiesThe sector may welcome valuation repairs.
Huafusecurities: The surge in energy has caused stagflation concerns, focusing on the main line of stable growth
Huafu Securities pointed out that the current predicament of the global capital market lies in the fact that the environment with a quasi-stagflationary trend has encountered the geo-risk of Russia and Ukraine, an important commodity producing area, which has made investors’ concerns about stagflation on the rise and increased the economic recovery after the epidemic. Uncertainty, the panic index rose sharply.However, you can still see the disk on Monday. In addition to bulk commodities, construction, building materials, and real estate in the traditional infrastructure investment industry chain are relatively resilient or even closed up. This is also the market’s response to the government work report over the weekend.GDPThe 5.5% growth rate guarantee will make efforts to make financial investment. The intention is to pay for it.
Regarding the market outlook, Huafu Securities still maintains the original judgment. It is recommended to believe in the government’s ability to “guarantee supply and stabilize prices” and its determination to stabilize the economy. Jiancang layout on dips.
Northeast Securities: Focus on stable growth-oriented industries with relatively low valuations and improved profit margins
Northeast SecuritiesIt is pointed out that the industry allocation in the second quarter should focus on building materials and real estate with stable growth orientation and relatively low valuation, new infrastructure, new energy,tourist hotelWait.
(1) Main line of configuration: The first half focuses on low valuation and stable earnings, mainlyBankreal estate, construction and other value sectors; the second half focuses on industries with improved profit margins, including new infrastructure, oversold high growth, and post-epidemic recovery of mass consumption.
(2) In terms of rhythm: Mid-May may be the time node, mainly considering the effect of stable growth and the confirmation of bottoming of profits.
(3) Top-down perspective: First of all, building materials, real estate, building materials, real estate, etc. have low valuations and stable profits after stable growth.BankThere are still opportunities in the first half; secondly, new infrastructure, some oversold growth, and post-epidemic repairs have relatively high valuation booms in telecommunications, computers,semiconductornew energy, tourism, etc. The second half is worth paying attention to.
(4) Bottom-up perspective: focus on hotels, lithium,Photovoltaic equipmentreal estate development, etc.
Tianfeng Securities: Securities sector may welcome valuation repair
Tianfeng SecuritiesIt is pointed out that in 2021, the operating data of securities companies will be released, and the industry will make a huge profit of 191.1 billion, and the growth rate of net profit will exceed 20%. On February 25, the China Securities Association released the annual operating data of securities companies in 2021.Data shows that in 2021, 140 securities companies in the industry will achieveOperating income502.41 billion yuan, realizednet profit191.119 billion yuan, a year-on-year increase of 12.03% and 21.32% respectively. The securities sector adheres to the valuation logic from cycle to growth. With the deepening reform of the capital market, the sector may welcome valuation repairs.Focus on recommending leading brokerages that have stepped out of the bear market structure and continued to benefit from the improvement of the capital market environmentCITIC Securities;Recommended asset management, big wealth managementperformanceFlexible companies such asOrient Securities、Industrial Securities; recommended attentioncompassThe progress of becoming an investor in the bankruptcy and reorganization of Netcom Securities; it is recommended to pay attentionCITIC Construction Investment(H shares),insuranceSection Suggestions to FollowPing An。
(Article source: Financial Associated Press)