Financial circles February 14 news On Monday, the three major A-share indexes opened low, the Shanghai index in the morning consolidated at a low level, the ChiNext index rushed higher and fell back to turn green, the A-shares further weakened in the afternoon, the three major indexes collectively fell more than 1%, the ChiNext index continued to hit a new low of adjustment, and the weighted shareholder wealth fell sharply by 15%, until the end of the session, the market stopped falling and rebounded. On the disk, the new crown oral medicine stimulates pharmaceutical stocks and the rise of tourism, film and television concepts benefiting from the recovery, and the situation in Russia and Ukraine has led to the military industry and precious metals sector receiving financial attention, and the financial and real estate sectors have made up for the decline.
As of the close, the Shanghai index fell 0.98% to 3428.88 points, the Shenzhen component index fell 0.77% to 13123.21 points, and the ChiNext index fell 0.52% to 2732.01 points. The total turnover of Shanghai and Shenzhen cities was 862.46 billion yuan; the actual net outflow of northbound funds was 3.788 billion yuan. 96 shares in the two cities rose and stopped, and 23 shares fell (including ST shares).
In terms of industry sectors, tourism hotels, precious metals, education, jewelry, medical services, etc. rose in the front, insurance, securities, banking, real estate development, power industry, etc. fell ahead; in the theme sector, the concepts of new crown drugs, online tourism, CRO, tax exemption, film and television, gold, babies and children were active.
The concept of new crown drugs broke out strongly, Chengda Pharmaceutical, Tuoxin Drugs, Yaben Chemical, Jianfeng Group, Jingjing Pharmaceutical rose and stopped, Junshi Bio, Hanyu Pharmaceutical rose by more than 10%, while the pharmaceutical sector was boosted, Hehua Shares, Northeast Pharmaceutical, Longjin Pharmaceutical, Asia Pacific Pharmaceutical, Aurite;
The concept of film and television has heated up, Jinyi Film and Television, Happy Blue Ocean, Zhejiang Wen Film, Xiangyuan Culture, Zhongguang Tianxuan, Sinochem Geotechnical Rise and Stop;
The tourism hotel sector rose and fell, Huatian Hotel, Caissa Tourism, Qujiang Cultural Tourism, Tibet Tourism, Lingnan Holdings, etc. rose and fell, Jinling Hotel, Guilin Tourism, Zhangjiajie
Touch the limit;
The military industry sector rose sharply, and he forged intelligent, Lanshi heavy equipment, Xiyi shares, Yingluohua, Hezhong Sizhuang, Gui rope shares, CLP Xingfa, Overpass Lifting and other up and down;
The precious metal sector has attracted attention, Jinyi culture has risen and stopped, western gold and Shandong gold have risen by more than 5%, and Hunan gold, Hengbang shares, gold and precious silver industry have risen in the front;
The new energy vehicle sector rebounded, ruihu mold, demys, Hunan Tianyan, Qiming information, Tianyong intelligence, Ruima precision, Ningbo Jingda and so on;
Baby and child concept force, Gaole shares, Aoyang Health, Weichuang shares, Xinlong Holdings, Anzheng fashion, Meijim up and down;
The engineering construction sector is partially active, and Zhejiang Construction Investment, Gan Consulting, Chinalco International, and Tianbao Infrastructure are up and down;
The securities sector suffered a heavy setback, Oriental Wealth fell 15% intraday, GF Securities touched a stop, and Great Wall Securities, Xiangcai Securities, and Huatai Securities fell ahead;
The concept of civil explosion cooled down, the juhua shares fell to a halt, and Jin Aobo, Poly United, and Nanling civil explosion fell;
The real estate sector weakened, Yue Hongyuan A fell to a halt, Xinhualian, Taihe Group, China Wuyi and so on fell by more than 5%;
The concept of digital currency has been retraced, Cuiwei shares, Jincai Interconnection, Baalian Development, Jinglan Technology have fallen to a halt, and Huayang Lianzhong, Jingbei and Sifang Jingchuang have fallen sharply;
In terms of individual stocks, "ice piers" are sought after, and Yuanlong Yatu continues to be connected;
The subsidiary intends to participate in the project of Silk Miao Rice Industrial Park, and Tianhe shares will rise and fall for 3 days;
Won Pfizer's $681 million big order, Boteng shares up and down;
The new crown virus antigen rapid detection kit products have obtained the EU CE certification, and Huashengchang has risen and fallen;
It is proposed to issue and acquire 100% of the equity of Shanghai Boiler Factory, and Tianwo Technology will resume trading in a word;
Suspected letter phi violations were filed, and Amethyst Storage fell to a halt.
【Institutional Strategy】
Haitong Securities: The steady growth spring market will not be absent, structurally value first and then growth, such as undervalued financial real estate, as well as new energy and digital economy of new infrastructure.
China Merchants Securities: Still maintain the judgment of "√" in the trend of A shares throughout the year, "low valuation +", "depression strategy" is still the current dominant allocation strategy. From February to March, we can focus on the opportunities for industrial metals, petroleum and petrochemicals, cement and other opportunities brought about by the steady growth force and the continuous price increases.
CITIC Securities: With the formation of a synergy of policy relays and the gradual strengthening of market consensus, the main line of "stable growth" is expected to last for at least one quarter. It is recommended to continue to closely follow the main line of "steady growth" and actively lay out high-quality blue chips around the "two lows", including: varieties whose valuations are still at a relatively low level, it is recommended to pay attention to high-quality developers, building materials and home furnishing enterprises after the real estate credit risk expectation is eased, Hong Kong stock Internet leaders after experiencing the impact of Chinese stocks, and fine chemical enterprises with new business capabilities such as new materials; varieties with fundamental expectations at a relatively low level, focusing on midstream manufacturing that was suppressed by cost problems in the early stage, such as automobiles, photovoltaic wind power equipment, etc. Fundamental expectations remain low for airlines and hotels.
Industrial Securities: grasp the repair of low valuations such as financial real estate, and at the same time lay out "small high-tech" at a low price. In the long run, focus on the five major directions of scientific and technological innovation. 1) New energy (new energy vehicles, photovoltaics, wind power, UHV, etc.), 2) a new generation of information and communication technology (artificial intelligence, big data, cloud computing, 5G, etc.), 3) high-end manufacturing (intelligent CNC machine tools, robots, advanced rail equipment, etc.), 4) biomedicine (innovative drugs, CXOs, medical equipment and diagnostic equipment, etc.), 5) military (missile equipment, military electronic components, space stations, space shuttles, etc.).
Huaan Securities: The cost performance of the short-term stable growth main line in the configuration is relatively good, and it is still expected to achieve a phased advantage, and in the medium term, with the adjustment of the growth style, the valuation market can be gradually and gradually laid out in the third stage of growth. It is recommended to pay attention to four major directions: first, the construction materials, urban pipe network transformation, steel and real estate upstream and downstream under the further strengthening of the stable growth logic; second, the growth diffusion has emerged, and the third stage of growth can be laid out; the third is the bank, insurance, securities companies, etc. that benefit from economic recovery; and the fourth is the service travel chain and the mandatory consumer goods of the price increase logic under the approval of Pfizer.
Western Securities: Affected by the rapid rise in commodity prices triggered by geopolitics and the slow recovery of global supply chains due to the epidemic, global capital markets have gradually begun to face the inflation risks they will face this year. Inflation trading, which should have begun in the second half of the year, may have already begun. With the early start of inflation trading, we believe that investors need to actively allocate profits to the consumer sector that is highly related to inflation and benefits from the recovery of the offline economy, especially the consumer goods that must be consumed are still the main line of allocation throughout the year, including aquaculture, planting, food processing, catering and tourism, retail, textiles, traditional Chinese medicine, rubber products, etc. On the other hand, in this year's rapid rotation market environment, investors with high risk appetite can follow the credit cycle and actively participate in the rotational trading opportunities of industries with a high probability of profit inflection point in the upward stage of the credit cycle. In addition, after patiently waiting for the market to stabilize, the high-quality growth leader whose performance can be determined to be cashed in is expected to usher in a phased repair.
Southwest Securities: At present, there are at least three areas with opportunities to attack the A-share Jedi. First, it is the "dilemma reversal" of the plate damaged by the epidemic. It mainly includes business and tourism and other fields. Second, the dilemma of the "stable growth" related sectors has reversed. Mainly construction, building materials, raw materials, real estate and other sectors. These sectors win in low valuations, low expectations from institutions, and low allocations. However, with the introduction of the policy of steady growth, the market's expectations for it have gradually increased. Third, it is a sector with steady performance growth and relatively low valuation in the performance forecast. In contrast, this direction is more dispersed, with more emphasis on bottom-up stock selection.