A-share market summary: Today's major indexes in the stock market generally closed down, with a daily turnover of 1,065.3 billion, which was manifested as a volume contraction and price decline. In terms of industries, the building materials, media, and household appliances industries led the rise; the national defense and military industries, power equipment, and automotive industries led the decline. Today's ChiNext index decline is more serious, the current market structure is obvious, the high-level high-prosperity plate game is fierce, and the low-level low-valuation plate has a relative advantage.
Daily market data at a glance
Index performance
The Shanghai Composite Index closed at 3558.18 points, down 0.33%, the Shenzhen Component Index reported 14207.19 points, down 1.28%, and the ChiNext Index reported 3075.98 points, down 2.17%. The turnover of the two cities was 1,065.3 billion yuan.
Northbound funds
Today, northbound funds bought a net purchase of 3.821 billion yuan; of which the shanghai stock connect net purchase was 2.93 billion yuan, and the shenzhen stock connect net purchase was 891 million yuan. In the past three months, the net inflow of northbound funds was 163.935 billion yuan.
Industry performance
Today, 15 of the 31 Shenwan first-class industries rose. Among them, the building materials, media, and household appliances industries led the rise, with increases of 3.17%, 1.3%, and 1.05% respectively. The national defense and military industries, power equipment, and automotive industries led the decline, falling by 2.46%, 2.45%, and 2.16% respectively.
Individual stock performance
Today, 2375 stocks rose, accounting for about 50.7% of A shares, and the number of downside stocks was 2167.
Grid opportunity index at a glance
Today, the grid opportunity index is 67.42, the opportunity index is higher than the 50 boom-bust line, after the recent market correction, the opportunity index has increased by a large margin, the overall cost performance of the market has also improved, the late market is still disturbed, but the downside space is relatively controllable, it is recommended that investors choose the opportunity to layout in batches.
Warm reminder: the grid opportunity index is based on the current valuation of A shares and the relative return relative to other assets for compilation, the grid opportunity index is higher than 50, it indicates that the current opportunity in the A-share market is much greater than the risk; the grid opportunity index is between 1-50, indicating that the market still has opportunities, but the smaller the value, the greater the risk; the grid opportunity index is less than 0, it means that the market risk is far greater than the opportunity, and the position must be cleared immediately.
Hot news reviews
News 1: On January 18, the central bank held a press conference on financial statistics in 2021, introduced financial statistics for 2021, and answered reporters' questions.
At the meeting, the central bank mentioned that "more proactive, more proactive, pay attention to the front force", "open the monetary policy toolbox a little bigger", the policy force is "sufficient", "accurate" and "forward", showing that the policy is determined to stabilize growth. At the same time, the central bank proposed to "grasp the work, forward-looking operation, walk in front of the market curve, and respond to the general concerns of the market in a timely manner", indicating that the management of market expectations by the policy is being strengthened. The highlights are divided into the following points:
1. The current economy is facing triple pressure, "stability" itself is the biggest "advance", before the economic downward pressure is fundamentally alleviated, the advance should serve stability, policies that are not conducive to stability are not introduced, and policies conducive to stability are introduced more, so as to promote stability with progress. To put it simply, the current focus is to stabilize, and the requirement of the policy is to exert force. Overall, the statement of a series of meetings of the central bank since the Central Economic Work Conference is continued, and the key task in 2022 is to stabilize growth, and more positive policies will be introduced in the policy direction.
2. Open the monetary policy toolbox a little wider, keep aggregates stable, and avoid credit collapses. This expression clearly defines the direction of the overall easing of monetary policy throughout the year. Specifically, we should exert force from three aspects, one is sufficient force, the second is precise force, and the third is to force from the front. The respective adaptations of the relaxation are not over, there is still room; the total amount and structural tools are used together; the policy force is advanced in time, and the expected management is done.
3. After two RRR cuts in 2021, the space for further adjustment of the reserve requirement ratio of financial institutions has become smaller, but there is still a certain amount of space, which can be used according to the needs of economic and financial operation and macroeconomic regulation and control. The central bank mentioned the view of the RRR cut from both positive and negative aspects, the monthly maturity of the MLF from February to August is not more than 200 billion yuan, and it is expected that the possibility of short-term RRR reduction and replacement of MLF will decline, but there is still some room for the reduction of the RRR, and the future may still be adjusted according to the issuance of special bonds and the actual operation of the economy.
4. In 2021, the mainland's macro leverage ratio was 272.5%, which declined for 5 consecutive quarters, creating space for future monetary policy, and the lower the leverage, the greater the space. From the perspective of macro leverage, it will not become a constraint on the development of monetary policy this year.
5. Regarding the housing purchase policy, one of the core features of real estate is regional, under the framework of real estate long-term mechanism management, it is more to implement the territorial responsibility of the city government, combined with the local market situation, and implement real estate regulation and control due to the city's policies.
Grid believes that the enthusiasm of subsequent departments for steady growth will be further increased, and the policy of bias towards contraction will slow down the implementation and give enough soft landing space. According to the central bank's statement, credit delivery is expected to improve significantly within one quarter, wide credit is expected to improve positively, and fiscal efforts will also be obviously followed up. If the real estate decline and stabilize, then the big infrastructure will also return to the stage. Although the policy is growing steadily, the fundamental data will most likely fluctuate for a period of time, and if the data feedback is not good, it may bring about a re-increase in the policy.
News 2: On January 18, the National Development and Reform Commission held the first press conference of this year to clarify the key points of macro-control work in 2022.
On January 18, the National Development and Reform Commission held a press conference in January, in which Yuan Da, director of the National Economic Comprehensive Department of the National Development and Reform Commission, Jin Xiandong, director of the Policy Research Office, and Li Yunqing, director of the Economic Operation Regulation Bureau, responded to the hot issues that the market is concerned about this year's key work of macroeconomic regulation and control, stable investment, promotion of consumption, and price stability. The highlights are as follows:
1. Do a good job in macroeconomic regulation and control in three aspects: First, highlight the word stability, and macro policies should be stable and effective. The second is to strengthen the overall coordination of policies and form a synergy for stable growth. The third is to start a stable start around the economy, and the policy force should be appropriately advanced.
2. Five aspects of efforts to stabilize investment: First, moderately advance infrastructure investment. The second is to solidly promote the implementation of 102 major engineering projects in the 14th Five-Year Plan. The third is to focus on expanding effective investment in manufacturing. The fourth is to give play to the guiding and leading role of investment in the central budget. Accelerate the release of the investment plan within the central budget for 2022. Fifth, further promote social investment. Promote the pilot of real estate investment trusts (REITs) in the infrastructure sector.
3. Tap the consumption potential of residents in four aspects: First, improve quality and optimize consumption supply. Promote the creation of a high-quality consumption supply system with rich content, excellent quality and reasonable structure, and guide enterprises to increase the supply of cost-effective goods and services. The second is to increase capacity and enhance consumption willingness. The third is to expand space and release consumption potential. The fourth is to strengthen supervision and optimize the consumption environment.
4. Increase private enterprises in four aspects: First, solve problems. Efforts should be made to solve the typical problems existing in the fields of property rights protection, bidding, market access, and financing support for private enterprises. The second is to expand space. Improve the mechanism for private enterprises to participate in the implementation of major national strategies, formulate policies and measures to support private enterprises to participate in rural revitalization, and guide private enterprises to participate in the mixed ownership reform of incremental state-owned enterprises. The third is to promote fairness. Deeply promote the implementation of fair competition policies, strengthen anti-monopoly and anti-unfair competition, and ensure fair competition with fair supervision. The fourth is to grasp demonstration. Give full play to the role of demonstration and leadership, further encourage local governments to focus on difficult problems in the development of the private economy, continue to explore and innovate, continue to create replicable and generalizable experiences and practices, and continue to drive new progress and breakthroughs in supporting the development of the private economy.
Ge Shang believes that from the perspective of development foundation, the mainland's economic development and epidemic prevention and control have maintained a global leading position. In general, the trend of sustained economic recovery and development in the mainland has not changed, the conditions of production factors supporting high-quality development have not changed, the fundamentals of long-term improvement have not changed, and the NDRC is full of confidence in achieving a smooth start in the first quarter and maintaining the economic operation of the whole year in a reasonable range.
The market is risky and investments need to be cautious. This content statement is for informational purposes only and does not constitute investment advice to any person.
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