1. Trend review
On April 15, the three major indexes collectively rose, but the yellow and white lines were extremely differentiated, with the Chinese word rising sharply, small and medium-sized micro-cap stocks falling sharply, and the CNI 2000 falling by more than 2%.
In the short term, with the strengthening of the delisting system by supervision and the increase in uncertainty in the April financial report month, the risk appetite of funds has declined, and the dividend sector has returned from the previous high-standard sector to the dividend sector with higher certainty in the prefix, but with the introduction and implementation of the nine relevant supporting policies of the new country in the medium and long term, the asset quality and credit disclosure quality of listed companies are expected to be effectively improved, which will bring long-term money-making effects.
The Shanghai and Shenzhen stock markets were 997.1 billion yuan, an increase of 187 billion yuan from the previous day. Overall, individual stocks fell more and rose less, and more than 4,000 stocks in the whole market fell. Northbound funds bought 8.108 billion yuan in net purchases throughout the day, hitting a one-month high in a single day. Among them, the net purchase of Shanghai-Hong Kong Stock Connect was 3.892 billion yuan, and the net purchase of Shenzhen-Hong Kong Stock Connect was 4.216 billion yuan.
Chart: Changes in the turnover of the two markets in the past 7 trading days
Chart: Net inflow of northbound funds in the past month Data source: Wind data
Second, the performance of the sector
Today's leading industry sectors are securities, airport shipping, and banking, and the leading concept sectors are China Shipbuilding Department, Zhongzitou, Straight Flush China Special Valuation 100, fentanyl and other sectors.
The industry sectors with the largest net inflow of main funds are building decoration, non-automobile transportation, and airport shipping, and the concept sectors with the largest inflows are Zhongzitou stocks, Flush China Special Valuation 100, and the reform of central enterprises and state-owned enterprises.
3. Pioneer of individual stocks
As of the close of trading on April 15, there were 3 stocks on the board.
The stock with the highest net inflow of main funds is CRRC, with an inflow of 418 million yuan, and the net inflow of the main forces of Zhonghai Xinzhi, Enjie, ZTE and China Communications Construction exceeded 300 million yuan.
The top five gainers of Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect are as follows.
Fourth, market sentiment
1. Playing height: 4 boards for construction machinery.
2. Today, 1,228 stocks in the two cities rose and 4,097 fell, with the decline range mainly concentrated between -10% and 0, and the rise range mainly concentrated in 0-3%. The number of companies that rose more than 5%: The number of companies that fell more than 5% was 124:1936, and the number of companies that fell more than 5% was 165:175 in the previous trading day.
3. There are 25 daily limits today, 58 on the last trading day, and the rate of daily limit closures has dropped from 71% to 48%. The average return of individual stocks on the trading day is -4.12%.
4. Record high stocks:
Today, there are Guangdong high-speed A, Hisense home appliances, Shenhuo shares, Siyuan Electric, Huaming equipment, Halma technology, Kesi shares, Huaneng Hydropower, Yutong bus, Lingrui Pharmaceutical, Hongcheng environment, Sichuan Investment Energy, Jiangzhong Pharmaceutical, Anhui Heli, SDIC power, Sailun tire, Agricultural Bank of China, Samsung Medical, Sinotrans, Zijin Mining, Hangcha Group, Jiayou International, Jin Chengxin 23 stocks closed at a record high (23 on the last trading day), including Guangdong high-speed A, Hisense home appliances, Shenhuo shares, Siyuan Electric, Huaming Equipment, Halma Technology, Kesi Co., Ltd., Yutong Bus, Lingrui Pharmaceutical, Hongcheng Environment, Sichuan Investment Energy, Sailun Tire, Samsung Medical, Sinotrans, Zijin Mining, Hangcha Group, Jiayou International, and Jin Chengxin 18 stocks are new highs on the basis of the new high on the previous trading day.
5. Frontline opportunities
1. Medium and special valuation
The nine new articles were promulgated to guide the market to improve the construction of the value investment system, encourage listed companies to actively pay dividends, and strengthen the delisting mechanism.
Related stocks: CRRC, China Galaxy, China Communications Construction, CSSC Hanguang
2. Car dismantling
The State Council issued the Action Plan for Promoting Large-scale Equipment Renewal and Trade-in of Consumer Goods, proposing that by 2027, the amount of scrapped vehicles recycled will be about double compared with 2023.
Related stocks: Beyond Technology, Yee Chiu Resources, GEM, Wusan Zhongda
3. Tourism
According to the data of the Ministry of Culture and Tourism, there were 119 million domestic tourism trips nationwide during the three-day Qingming holiday, an increase of 11.5% over the same period in 2019, and domestic tourists spent 53.95 billion yuan on travel, an increase of 12.7% over the same period in 2019. Under the hot sentiment of tourism consumption during the Qingming holiday, the market game will further release the demand for tourism consumption during the May Day holiday.
Related stocks: China Duty Free, Songcheng Performing Arts, Zhangjiajie, Emeishan A, Junting Hotel
Sixth, the viewpoint is forward-looking
China Securities Construction Investment: Judging from factors such as the profit of the first quarter report and the pace of interest rate cuts by the Federal Reserve, there are still constraints and pressures in the short-term market, and it is still in the process of being volatile. There is a divergence in this round of commodity markets, among which the strongest precious metals are mainly driven by financial attributes and risk aversion, while it will take time for domestic demand to be further repaired, and the financial data in March also show that companies are in a state of deleveraging. Under the background of the introduction of the new "National Nine Articles", the theme stocks that are not committed to maximizing the interests of shareholders will gradually be marginalized, and the dividend style will still maintain a high winning rate.
Jufeng Investment Advisor: The continuous improvement and recovery of the domestic economy will continue to support the recovery and rebound of the A-share market. Under the influence of market policies and fundamentals, the short-term market is expected to usher in a phased recovery. In the future, investors can continue to pay attention to investment opportunities in infrastructure, building materials, construction machinery, tourism, and semiconductor chips.
Zhongyuan Securities: Economic data shows that domestic and foreign demand is not strong enough, and policies are needed to boost market demand. The release of the new national nine articles has promoted the maturity of the market and boosted the long-term confidence of the market. Fitch downgraded China's sovereign credit rating, US inflation exceeded expectations, and overseas markets continued to adjust. The domestic market may continue to fluctuate, and it is recommended to pay attention to sectors such as big data, communications, and games.