The three major A-share indexes fluctuated collectively.Insurance、bank, Titanium dioxide, steel and other sectors have the top gainers, 6G concept, hair care, digitalcurrency, Huawei Automobile and other sectors led the decline. As of press time,Shanghai IndexRose 0.23% to 3536.71 points; Shenzhen Component Index fell 0.34% to 15005.24 points;Growth Enterprise Market IndexIt fell 0.29% to 3,478.40 points.
1. National Bureau of Statistics: GDP in the first half of the year increased by 12.7% year-on-year, and the second quarter increased by 7.9%
2. The RRR cut for the first time in the year, today’s executive experts said it may lead to LPR adjustments
3. The first interim report of the two cities was released, and the performance soared by nearly 70%! 3 stocks won over 100 million yuan in Dragon and Tiger ranking institutions
4. Madden! Tencent and Ali are really going to “hold hands”? The share prices of the two parties jumped directly. China‘s Internet will “change the sky”?
5. Bureau of Statistics: The increase in the sales price of commercial residential buildings in 70 large and medium-sized cities showed a steady but declining trend as a whole
6. A piece of data caused a 180 billion plunge? Three transcripts strongly return to the news that new energy is still the strongest outlet? When to counterattack?
7. The flow of equity ETF funds is divided: new energy and chip products are selling more and more medicines, and consumption is absorbing gold against the market.
8. China Banking and Insurance Regulatory Commission: moderately relax the requirements for insurance funds to invest in venture capital funds and equity investment funds
In terms of market outlook,Shanxi SecuritiesSaid that my country in Juneimport and exportExceeding expectations, benefiting from the steady recovery of the global economy and the continuous increase in overseas supply and demand, supporting my country’s export-oriented manufacturing industryPerformanceMaintain a high position. In the medium term, the consumer service industry continues to recover, the technology industry continues to maintain a high growth rate, and the overall fundamentals of A-shares are strongly supported. In the future, in the context of reasonably loose liquidity and strong fundamental support, the upward trend of volatility will continue.
Orient SecuritiesThe analysis shows that the import and export data exceeds expectations showing that the economy is still resilient, and the policy is still relatively active at this stage. There are currently no major risks in China. Although there are disturbances in overseas, the risks have not been substantively triggered. We tend to think that the current situation Only fluctuates, and when it comes down, it can be appropriate to lay out products with outstanding price-performance ratios such as cycle and communication.
In addition,Guotai JunanBian Fengwei pointed out that the interim report is a rough look at the annual financial report data, and it is more often an accelerator of emotions. Looking back on the previous few years, whether it is the 5G industry chain in 19 years or last year’s chip semiconductors, everyone will find that the acceleration will often trigger Switched after the shock. Therefore, the observation of the interim report is that on the one hand, the current expectations are poor, and it is necessary to take advantage of this sentiment when the stock price rises and falls. Perhaps some new changes will come after August.
In terms of operating strategy,Shen Wan HongyuanPoint out the configuration path: first continue to recommend technology + cycle. Second, the technology recommendation emphasizes that the improvement direction of the second quarterly report is worthy of mid-term configuration. Focus on new energy vehicles, national defense industry and semiconductors. Third, the cycle continues to be optimistic about the long-term supply shortage logic to raise the valuation, domestically, carbon neutrality, and overseas, ESG. Focus on industrial metals and chemical investment opportunities.
Caixin Securities previously stated that it is recommended to configure the following directions: (1) Performance and prosperity sector. In the second half of the year, the domestic economic recovery will slow down marginally. It is advisable to select high-performance sectors from the bottom up, such as the post-real estate industry chain and characteristic consumption in the Z era.
(2) Technology growth sector. At present, there are many overall callbacks in the technology sector. In the period of economic recovery slowing down and liquidity is not tight, the technology sector is expected to usher in the favor of funds again. It is recommended to pay attention to TMT, military industry, and medicine.
(3) Sectors damaged by the epidemic. In the third quarter of 2021, the epidemic inoculation will continue to increase, and the previously damaged sectors of the epidemic will usher in valuation restoration. Focus on aviation, airports, hotels, restaurants, tourism, cinemas and other directions. As the overseas epidemic is more severely damaged, the airport sector that is most relevant to the recovery of overseas epidemics is the most resilient.
(4) Low valuation sector.At the end of the third quarter or the fourth quarter, U.S. Treasury yields may rise, and the market will pay more attention to the matching of valuation and performance. The high-valued institutional group may usher in adjustments, and the low-valued sector can be used as a bottom position defense. Can followreal estate、Public utilities, Media.
(Article Source:Oriental wealthResearch center)