2023-04-17 09:57:00
(Original title: Institutional Strategy: Heavyweight stocks join hands to strengthen the Shanghai Stock Exchange Index and hit a new high for the year)
Galaxy Securities believes that looking forward to the future, the A-share market is expected to remain range-bound in the short term, and there is a trend of structural opportunities. Current funds need to seek new directions, thus bringing about structural changes in opportunities. Investors see more investment opportunities that may be brought about by China’s economic recovery, boosting investor confidence; overlaying April is a period of intensive disclosure of quarterly reports, it is recommended to focus on sectors and companies with good fundamentals and better-than-expected growth in performance in the short term; In the medium and long term, we can pay attention to industries with low valuation + high prosperity. It is recommended to pay attention to: 1) Non-ferrous metals, the first quarterly report is expected to be good + the current geopolitical issues and regionalization trends will bring investment opportunities; 2) The new energy industry chain has optimistic industry trends, high prosperity, and strong The background of performance support, with the disclosure of the first quarterly report, there is a short-term positive; 3) High-end manufacturing such as semiconductors is expected to be driven by favorable policies.
Zhongyuan Securities pointed out that the A-share market opened flat and went high on Monday, with unilateral shocks and rising, and the market style showed the characteristics of gradual transformation. At present, the average price-earnings ratios of the Shanghai Composite Index and ChiNext Index are 13.98 times and 37.85 times respectively, which are below the median level in the past three years. The market valuation is still in a relatively low area, which is suitable for medium and long-term layout. The trading volume of the two cities on Monday was 1,120.8 billion yuan, which is in the median area of the average daily trading volume in the past three years. In March, the PMI was 51.9%, a decrease of 0.7 percentage points from the previous month, and the manufacturing industry maintained an expansion trend. The momentum of economic recovery still exists. Since the prosperity of small and medium-sized enterprises dropped significantly in March, certain active policies are needed to boost demand and consolidate the current positive trend of economic recovery. With the policies in place and the economy continuing to recover, the decline in industrial profit growth is expected to narrow. Recently, the industry sector has shown a strong 28th effect, with a net inflow of northbound funds for 3 consecutive weeks, on-site financing funds have rebounded significantly, and the activity of funds has rebounded significantly. The overseas banking crisis has been dealt with in a timely manner by all parties, and the impact on the market has been reduced. In the future, the overall stock index is expected to maintain a volatile upward pattern. At the same time, it is still necessary to pay close attention to changes in policy, capital and external factors. We recommend that investors keep 60% of their positions and pay short-term attention to investment opportunities in industries such as finance, new energy, semiconductors, engineering construction, automobiles, and non-ferrous metals.
Yuanda believes that the Shanghai Composite Index performed strongly this afternoon, breaking through the shock box formed since the end of January. Moreover, the pattern of rising volume and price is obvious, but it should be noted that the index divergence is obvious today, especially the white line leads the yellow line in the main board time-sharing, and the gap between the two lines continues to increase, indicating that there are obvious differences between weight and subject matter, and the index breaks even more More benefit from the performance of heavyweights. Therefore, whether these varieties can continue will determine the deduction path of the follow-up market. The GEM index continues to compete near the 89-day line, and the 55-day line is still under pressure in the short term, and the trading volume has not increased significantly. There is a possibility of shocks and consolidation in the short term under pressure and support. In particular, funds pay more attention to the weight of the main board. Under the effect of attracting money, the performance of other sectors may be affected. The Shanghai Composite Index performed strongly in the afternoon today, breaking through the shock box formed since the end of January. Moreover, the pattern of rising volume and price is obvious, but it should be noted that the index divergence is obvious today, especially the white line leads the yellow line in the main board time-sharing, and the gap between the two lines continues to increase, indicating that there are obvious differences between weight and subject matter, and the index breaks even more More benefit from the performance of heavyweights. Therefore, whether these varieties can continue will determine the deduction path of the follow-up market. The GEM index continues to compete near the 89-day line, and the 55-day line is still under pressure in the short term, and the trading volume has not increased significantly. There is a possibility of shocks and consolidation in the short term under pressure and support. In particular, funds pay more attention to the weight of the main board. Under the effect of attracting money, the performance of other sectors may be affected.
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