China Fund News reporter Wu Yu
"Doctors don't talk about life", today, it is the turn of the Chinese medicine plate to be hammered. In this context, "medical funds" are on the hot search again.
However, under the downward trend of the medical sector and the "Ning Wang" shock, traditional value stocks have risen collectively. Today, funds are pouring into the "Chinese character head", and PetroChina, Chinese Life, Ping An of China, Sinopec, China Construction, China Shenhua, etc. have all reached new highs.
Medicine continues to fall
The Chinese medicine sector led the decline
The market of medicine today is still the same, the decline list, about the biomedical sector fell in the front.
In addition, the new Chinese medicine sector fell today, and the index fell nearly 3%.
LongShenrong fell nearly 9%:
China Resources Sanjiu, Huasen Pharmaceutical, Teyi Pharmaceutical, Xinguang Pharmaceutical, Xintian Pharmaceutical, Longjin Pharmaceutical and so on also led the decline.
At one point, the 60 billion Tongrentang fell nearly 7%, closing down 5.76%.
Under the plunge in turn, medical funds are on the hot search again. There is a passage out: the medicine and banking sectors take turns in feng shui.
"King Ning" continued to shake downward
The auto sector followed suit
The trillion "Ning Wang" Ningde era continued to decline, once falling more than 5%, closing down 2.53%.
The auto sector collectively pulled back, the auto parts sector shock lower, Ningbo Huaxiang once fell to a halt, Bethel, Aikodi, Wuxi Zhenhua fell more than 5%, Shangsheng Electronics, Guangdong Hongtu, Chervon Automobile and so on fell.
Return of traditional value sectors: insurance soars nearly 4%
700 billion insurance giant pulls 8%
At the time when the "Ning combination" continues to decline, the traditional value stocks have collectively returned! Insurance, coal, banking, home appliances and other sectors rose in the front.
The insurance sector continued to exert its strength, and the index rose nearly 4%.
The 700 billion giant Chinese Life rose more than 8%, with the latest stock price of 31.8 yuan and a market value of 753 billion yuan.
"Please cherish the peace below 50 yuan", today, Ping An of China also rose 3.6%, the latest stock price of 56.13 yuan per share, the market value returned to more than one trillion.
China Pacific Insurance Company and Chinese Insurance have followed suit.
In addition, major financial sectors rose collectively. The bank index rose nearly 1.5%, led by Bank of Lanzhou, and Ping An Bank and China Merchants Bank also followed suit.
The brokerage index rose 1.42%, and Xiangcai rose more than 9%.
Two big positives go hand in hand
The real estate sector ushered in a rising tide
The real estate sector also rose more than 1%.
Individual stocks have ushered in a rising tide. Rongan Real Estate, Nanshan Holdings, Tianbao Infrastructure, Jia Kai City opened up and stopped, Taihe Group rose more than 10%...
Vanke A rose more than 3%, and Poly Development, China Merchants Shekou and Gemdale Group collectively pulled up.
On the news side, on the evening of February 10, it was reported that the national supervision and management measures for the pre-sale funds of commercial housing have been formulated recently. The supervision of pre-sale funds meets the unified regulations of the whole country, and the shortage of capital flow of housing enterprises is expected to be alleviated.
At the same time, the growth of credit union financing in January achieved a "good start", and the increase in RMB loans and social financing in January hit a single-month record high: RMB loans increased by 3.98 trillion yuan in January, an increase of 394.4 billion yuan year-on-year, which is the highest point of single-month statistics; the increase in the scale of social financing in January was 6.17 trillion yuan, 984.2 billion yuan more than the same period last year.
In this regard, Shenwan Hongyuan macro analysis said that the strong start of credit union financing in January is conducive to dispelling the market's strong concerns about the financing blockage of the real estate industry chain. It believes that as long as the beginning of 2022 can see the credit union financing "opening red", then in the process of stable demand release, real estate investment is expected to improve from the second quarter, there is great hope for the whole year to avoid negative growth in real estate investment, and a slight positive growth of about 1% for the whole year can be expected.
Guotai Junan Securities Research Report pointed out that the valuation repair of real estate stocks is a forward value regression based on the absolute valuation model, including two stages. The real estate can be divided into three parts: the book value of the current period, the discount of excess income in the forecast explicit period, and the discount of the forward excess income. The current undervaluation of real estate stocks is significantly negative in terms of forward excess returns, while most industries contribute most of the market value. The implicit meaning is that the forward profits of housing enterprises are not enough to make up for the cost of capital, and even have a greater risk of bankruptcy. However, (1) if the continuing operation of individual stocks can be ensured, the value destruction will end with the liquidation of the industry, which can bring about the first stage of valuation repair, that is, the forward valuation from negative repair to 0. (2) If the industry eventually has a moat and sustainably generates excess returns, the forward excess returns can account for 10%-30% of the total market value, bringing about a second phase of repair. Recently, some high-quality private enterprises have resumed public market financing, the central bank has corrected the deviations of financial institutions, and mergers and acquisitions have gradually become active, not excluding that there are still tail private enterprises thunderstorms, but the probability of survival of high-quality private enterprises has increased significantly, and valuation repair is imminent.
The salt lake lithium plate pulled up higher
Chinalco International instantly rose and fell
The lithium ore index rose more than 3.4%.
Among them, the salt lake lithium plate rose in the front. After the opening of Chinalco International, it quickly sealed the limit.
The trend of the national machinery general is similar, and the stop is pulled up and down instantly around 10 o'clock.
In addition, China Mining Resources, Tianqi Lithium, Ganfeng Lithium and Salt Lake led the rise.
By the end of the afternoon session, the Shanghai Composite Index was up 0.34% in the afternoon and the ChiNext Index was down 1.36%.