Wang Jing, Chuangjin Hexin Fund: Comprehensive performance and valuation factors Layout three quarterly reports

On October 11, Wang Jing, chief strategist and assistant chief investment officer of Chuangjin Hexin Fund, pointed out that there has been a rebalancing trend in the recent market style, with the consumer sector with relatively weak performance in the early stage leading the rise, while the cyclical sector with strong performance in the early stage has shown a certain correction. Next, the market will usher in the three quarterly report forecast period, which can be combined with the performance of the three quarterly reports and the sustainability of next year's performance, valuation space and other factors for layout.

Wang Jing pointed out that the reason for the rebalancing of market style is that on the one hand, the consumption and pharmaceutical sectors have become relatively attractive in valuation after the previous decline. From the perspective of the consumer sector, the fundamentals of many companies have changed positively recently, and they have reached an attractive allocation range for long-term funds. On the other hand, in the context of monetary easing and credit contraction, the scarcity of stable and high-profit assets continues to be highlighted, and consumer medicine, as a representative of stable and high profitability in history, has returned to the main line of the market.

Wang Jing said that after the eleventh holiday, the market ushered in the three quarterly report forecast period, and the next step can be laid out around the performance of the three quarterly reports. Entering the fourth quarter, investors need to consider the sustainability of next year's performance and valuation space while considering the current profit. "After the third quarterly report, the market is likely to shift from a short-term rapid rotation and an undimensional stage to a new main line. At this stage, it is recommended that everyone should balance the configuration. From the perspective of the broad-based index, we can pay attention to the index with sufficient risk release, such as the Shanghai 50, the Hang Seng Technology Index, etc. ”