According to the distribution of 376 net-breaking stocks, the capital goods industry has the largest number, 63, accounting for 17%; the materials and real estate industry has a higher net-breaking number, 47 and 43, accounting for 12% and 11%, respectively; in addition, the energy, public utilities, transportation, banking, durable consumer goods and clothing, automotive and automotive parts industry has broken down. The net number of companies exceeded 20.
495 shares fell below 2440
The market fell sharply this week, with many stocks falling below the 2440 point position of the Shanghai Index at the beginning of the year. Wind statistics show that 495 stocks fell below the 2440 point of the Shanghai Stock Index at the beginning of the year. In addition to some small-cap stocks, 36 companies with a market value of more than 20 billion yuan have also hit new lows this year. PetroChina has fallen 13.31% this year, and is also the largest innovative low-capitalized stock. In addition, China National Automobile, China Jianzhong, China Railway, China Railway Construction, 3600 and other companies with a market value of 100 billion yuan have also been listed. The company also set a new annual low. (excluding new and suspended shares listed in 2019)
Big companies with low stock prices (market capitalization over 20 billion)
Bank of China International analyst Sun Zhaoyang issued a research report, looking forward to August, earnings fell, valuation pressures, market volatility increased. In terms of allocation, low beta and low valuation value stocks are still the choice to obtain stable returns. It is suggested that attention should be paid to the allocation opportunities of low valuation and high dividend for real estate and bank leaders, and at the same time, to grasp the growth potential of high dividend due to the lower cost of power sector. The flexibility board suggests focusing on the hot growth stocks represented by 5G, but it needs to pay attention to the sustainability of high performance growth and the matching degree of earnings valuation.
Analysts Wang Hanfeng, Li Qiusuo and Lin Yingqi of CICC issued a research report that the recent A share/Hong Kong share correction was influenced by internal and external factors, and the medium and long-term value of the market was gradually emerging under the current valuation level. Valuation of A-share/Hong Kong stock market has returned to its historically low level, and turnover has also fallen to its historically low level. The current valuation of the top 100 companies with foreign ownership returns to near historical average. Most of the industry valuations are below the historical average, and the current market-to-net ratios of construction, railways and oil and gas are at the lowest level in history.
The medium and long-term value is gradually emerging, and more positive catalysts are needed: although valuation is of limited significance to short-term market trend indicators, the attractiveness of medium and long-term valuation has further increased after the recent pullback. It is suggested that investors wait patiently for the market to stabilize gradually. Relative returns investors can pay attention to the domestic demand sector with relatively low valuation, positive catalytic factors or policy expectations. Medium and long-term investors can gradually absorb high-quality leaders that are in line with the trend of Chinas consumption and industrial upgrading. At the same time, we should pay attention to Chinas growth data, especially the trend of the real estate market and the possible future responses of China and global policies to judge the short-term and medium-term trend of the market.
Yan Kevin, Dong Binghua and Tang Feng, analysts of Huaxin Securities, issued a research report, optimistic that the 2750-2700 point area will form an effective support, while under the relatively conservative background, the index may also complete the bottom construction at 2700-2600 points, so the overall decline space has not been obvious. However, it is still worth noting that even if the index completes the step of overshoot, if there is no full A market profit boost, the market will develop at a limited height, more similar to the rebound in June.