"Wang Bang"! soared to the first place in A-shares

The "elephant" moved!

In early trading today, A-shares opened high and went low, and I once thought that I was going to repeat yesterday's plot. At the critical moment, the blue-chip stocks of the large market stood up, leading stocks such as Kweichow Moutai and China Merchants Bank made efforts, and the Shanghai Stock Exchange 50 and CSI 300 indices rose, and finally stabilized the market.

At the end of the morning, the Shanghai Composite Index rose 0.32%, the Shenzhen Component Index rose 0.55%, and the ChiNext Index rose 0.27%. The media sector rose sharply, setting off a tide of price limits. On the whole, the pro-cyclical main line is strong, and real estate, consumption, finance and other varieties are active. The performance of the technology growth style was weak, and the communication equipment, medicine, semiconductor and other sectors pulled back.

Hong Kong stocks exploded in the morning, with the Hang Seng Index up 3%, the Hang Seng China Enterprises Index up 3.26%, and the Hang Seng Tech Index up 3.52%.

The real estate industry chain has risen sharply

This morning, the real estate industry chain rose sharply, and the real estate sector topped the list in the first-class industry of Shenwan.

SIIC Development, Jingneng Real Estate, Dalong Real Estate and other shares have a daily limit.

Hong Kong domestic real estate stocks rose more violently. Sunac China, Sino-Ocean Group, Longfor Group and other stocks rose sharply.

The real estate sector ushered in a good thing that can be called "king bomb". On December 14, Beijing issued a notice on adjusting and optimizing the standards for ordinary housing and personal housing loan policies, optimizing the criteria for identifying ordinary houses, lowering the minimum down payment ratio for mortgages, extending the loan term, and lowering the lower limit of the mortgage interest rate policy, so as to better support the demand for rigid and improved housing. Shanghai also announced the adjustment of ordinary housing standards and the optimization of differentiated housing credit policies.

CICC said that the experience of the past cycle shows that the improvement of the fundamentals of first-tier cities has a strong leading role in the expected recovery of the market in other cities across the country, and is a "barometer" to judge the arrival of the industry's inflection point, among which the sales area of new houses in the first-tier cities in the real estate mini-cycle from 2011 to 2013 and 2014 to 2016 turned positive year-on-year 6 months and 2 months earlier than the national level, and the price turned positive 2 months and 6 months earlier.

The building materials sector was active, and Oriental Yuhong rose more than 5%.

Ping An Securities said that from the perspective of the main line of investment, on the one hand, it pays attention to the investment opportunities brought by the transformation of urban villages, and on the other hand, it pays attention to the low-valuation allocation value of high-quality building materials companies. Among them, the profitability of the cement industry has bottomed out in stages, focusing on leading stocks with low valuation and high dividend advantages; consumer building materials preferentially select stocks with their own industrial logic and strong α capabilities; glass companies are expected to further improve their profits despite weak supply and demand expectations.

In addition, steel, home furnishings and other sectors also rose in the morning.

Liquor stocks rebounded

This morning, the liquor sector ushered in a rebound, and leading stocks such as Luzhou Laojiao, Wuliangye, and Kweichow Moutai all rose.

On the evening of December 14, Luzhou Laojiao announced that the controlling shareholder Laojiao Group plans to increase its holdings of the company's shares within 6 months from the date of the announcement through its wholly-owned subsidiary Jinru Investment, with an increase of 200 million to 250 million yuan. This is the first time that Laojiao Group has disclosed its shareholding increase plan since 2015.

Just the day before, on the evening of December 13, Wuliangye announced that Wuliangye Group, a major shareholder, plans to increase its holdings of no less than 400 million yuan and no more than 800 million yuan in the company's shares based on its confidence in the company's sustainable and stable development in the future and recognition of the company's long-term value.

It is worth noting that neither Laojiao Group nor Wuliangye Group will set a price range for the shareholding increase plan, and will gradually implement the shareholding increase plan according to the overall trend of the capital market and the reasonable judgment of the company's stock value.

Guohai Securities said that it is expected that there will be four major factors to support the market of the liquor sector in 2024: first, the development of the industry is back on track, the rhythm of the off-peak season will return to normal, Moutai's price increase will release a reform signal, and the leading dividend rate will increase; At present, the valuation of the sector has fallen back to a nearly 10-year low, and third, the long-term development logic remains unchanged. The general trend of consumption upgrading and differentiation remains unchanged, and stable companies remain stable; fourth, macroeconomic recovery. Positive signals are accumulating, and mood reversal can be a matter of thought. Historically, the liquor sector has been resilient during periods of economic stress and has recovered earlier than other consumption.

(The market pictures in the article are from Wind and Straight Flush)

Source:

China Securities Journal

Editor: Xie Yue

Producer: Wu Peng

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