Today, the Shanghai and Shenzhen cities both opened high, after the opening of the shock, under the leadership of cyclical stocks, the Shanghai index performance is eye-catching, and under the boost of financial stocks, the afternoon continued to rise, the intraday recovery of the 5-day moving average. With the rise of the theme stocks in the afternoon, the ChiNext board and the Shenzhen index have rebounded, and the three major indexes have rebounded throughout the day. On the disk, coal led by a sharp rise, steel, environmental protection, building decoration and media and other sectors rose in the front, and many sectors rebounded and turned red. Food and beverage led the decline, agriculture, forestry, animal husbandry and fishery and communications fell slightly.
The counterattack in the late trading of US stocks gave a boost to today's market, and the index performed well overall. The landing of the Fed's interest rate decision has also digested the previous market's concerns to a certain extent. After experiencing continuous adjustments, the market ushered in a rebound, continuing the overall positive trend.
Overall, whether it is an early or normal interest rate hike, the trend of monetary tightening of the Fed has been more obvious, which has a certain pressure on the US stock market and the global capital market. However, for A-shares, with the clarification of the "steady growth" policy, under the tone that the central bank will quasi-enhance monetary easing expectations, the overall market weight continues to strengthen. In addition, with the continuous net inflow of northbound funds, market confidence is constantly boosting, and the enthusiasm for going long is also increasing. Therefore, combined with the historical law, we continue to be optimistic about the market in the new year and the first quarter of the following year, during which the index has fluctuations, especially the phased adjustment, it may be a good time to continue to lurk.
It is worth noting that at a time when the market is generally improving, the allocation of foreign capital to Chinese assets is changing. According to the Securities Times, since the beginning of December, northbound funds have successively net inflows into A-shares, with monthly net inflows reaching 76.2 billion yuan, a record high. The Securities Times reporter observed the latest positions of overseas Chinese stock funds and also found that foreign giants are stepping up the layout of A-share core assets at the end of the year, and Fuyao Glass, Hua testing, Mindray Medical, etc. are in the list of holdings. In fact, we see that the large-scale entry of foreign capital has a lot to do with the domestic RRR cut and the increase in monetary easing expectations, and at the same time, the good performance of blue-chip stocks at the end of the calendar year may also mean that the overall style is expected to continue to shift to low-valued blue-chip stocks under the size switch.
Therefore, in the process of adjustment in these two days, it does not mean that the blue chip stock market has come to an end. On the contrary, under the enhancement of monetary policy easing expectations, the expectation of low-valued blue-chip stocks to make up is relatively clear, and there is still a basis for continuing to improve after the shock is sorted out. Therefore, in the process of market correction, we should continue to prefer undervalued blue-chip stocks in order to consider new allocations at the first time when the index adjustment is over.