Judging from the actions of northbound funds in the past three weeks, the leading "core assets" in sectors such as big consumption, big finance, and new energy have increased their positions, and the subsequent stock market style may be more biased towards the relative dominance of "core assets", which will promote the overall repair of A-share valuations. The valuation repair of A-shares is still not over, and northbound funds are expected to continue to maintain a steady net inflow rhythm throughout this year. The policy tone is more aggressive, real estate destocking is further intensified, and the domestic economic recovery may be accelerated.
The top five main net inflows into the industry sector: automobiles, new energy vehicles, games, mobile games, and online education; The top five main net inflows into the concept sector: artificial intelligence, metaverse, ByteDance concept stocks, ChatGPT, VR&AR; The top 10 main net inflows of individual stocks: Tom Cat, WuXi AppTec, Hongbo Shares, High-tech Development, Inspur Information, Northern Copper, Great Wall Motor, BAIC Blue Valley, Cialis, and Beihua Shares
Editorial
According to statistics, as of May 13, the high-dividend strategy index has risen by 19.7% this year, significantly outperforming the market. Since the beginning of this year, the trend of the high-dividend sector shows that the dividend strategy has been more widely recognized in the market, and many institutions have expressed that they continue to be optimistic about the target of high dividends and recommend it as a reserve asset for allocation. The downward trend of deposit interest rates will not change, and A-share cash dividends will start a new round of improvement and improvement cycle, and the investment logic may pay more attention to dividend yield performance. At a time when deposit interest rates continue to fall, the dividend yields of some sectors and stocks in the A-share market far exceed the fixed deposit rates, becoming a "sweet spot" in the eyes of investors.
With the rapid development of the new energy industry, the transformation of energy digital intelligence is accelerating. Virtual power plants have the ability to regulate on a large scale, and their supporting role in the new power system is becoming more and more important, and the economy is prominent. As more and more virtual power plants are put into operation and the technical level continues to improve, their ability to support new power systems will continue to increase. With the arrival of high temperatures in summer, investment opportunities in the power industry are slowly ushering in, and investment opportunities in virtual power plants can also be paid attention to, and the market of the recent cyclical sector is becoming more and more obvious.
Editorial
Recently, the performance of shipping stock futures has been outstanding, and the price of the main 2406 contract of the container transportation index (European line) futures (hereinafter referred to as "container futures") has reached a new high, and has broken through the 4000-point integer mark. The A-share shipping index rose by more than 4%, leading the rise of other thematic industry indexes, and many constituent stocks rose by more than 10%. Riding the bull and watching the bear found that the price of freight capacity has gradually risen with the multiple rounds of airlines, driving the price of container shipping futures and the performance of shipping-related companies to rise, the supply side of the capacity market will continue to be tight, and the demand in the peak season is expected to continue to push up the market demand, and the freight rate in the future market is still likely to rise further.
Taobao will be the first to open the 618 event on May 20. JD.com, Tmall, Kuaishou, Douyin and other platforms have recently issued 618 investment rules. There are some obvious changes in the 618 investment promotion: the pre-sale has been canceled, and consumers can get the goods faster; The rules of the activity tend to be simplified. It is expected that the leading brands of the big promotion will actively exert their efforts through new products + large single products, and will continue to perform brilliantly. At the same time, supported by the big promotion in the second quarter, it is expected that the export sales of air conditioners/domestic sales of refrigerators/washing machines will grow by double digits in the second quarter. After the introduction of real estate-related policies in some areas, it is also conducive to the post-cycle related consumption sub-industries of real estate, such as home appliances and furniture.
Editorial
The Shanghai Composite Index has started a new round of volatility around 3150 points, and it is worth noting that stocks in the two cities no longer fully follow the rise and fall of the index this week. If the index falls sharply, the two cities generally fall, but the index fluctuates, and the stocks in the two cities may rise more and fall less. This is a better and more positive side, but the market theme plate rotates too fast, resulting in a poor money-making effect, but now holding shares is the best policy, it is not appropriate to eat in the bowl and look at the pot, so it is easy to lose money.
It is obvious that the ChiNext index has begun to turn downward, and it is important to be careful that the market may fall further in this position, especially in the context of the shrinking trading volume of the two cities, so it is not appropriate to be overly optimistic here. Half of the time in May has passed, and the biggest problem now is that no plate has risen for 2 consecutive days, and the plates that rebound almost every day are not repeated, so it is definitely inappropriate to chase up, but you can choose to lurk some plates that may rotate and pull up. In particular, it should be noted that in this kind of market, it is easy for the index not to fall, and individual stocks to show a continuous downward trend.