Cow is next year this month to cat winter what logic?

category:Finance
 Cow is next year this month to cat winter what logic?


In early Monday morning trading, the two cities opened slightly higher on positive news. The whole line of securities companies is in full swing, and the top securities companies such as CITIC Securities are more than 2% higher. Under the leadership of securities companies, the three major stock indexes once performed strongly, including pork, wireless headphones and other concept plates. But near midday, the market showed a trend of rising and falling. In the afternoon, the two cities continued to decline, and the Shanghai index once turned green.

By the end of the day, the Shanghai index was up 0.13% to 2875.81, the Shenzhen composite index was up 0.24% to 9605.19, and the growth enterprise market index was up 0.28% to 1669.54. The total turnover of Shanghai and Shenzhen stock markets is 342.5 billion yuan, and the volume is still at a historical low.

Active performance in pork and technology sectors

On Monday, the concept of pork and chicken was once again strong, with Tiankang biology rising by more than 5% and muyuan shares and Zhengbang technology leading the way.

Guangfa Securities believes that in general prices, the latest high-frequency data of pork prices fell continuously. Judging from the average prices of 36 cities, the fall of pork prices in the third week of November further expanded. Guangfa Securities further said that in the near future, a series of measures have been taken at the policy level to smooth the fluctuation of pig price, such as expanding the import of substitutes such as pork, beef and mutton through multiple channels, and supporting the construction of large-scale pig farms and breeding farms. However, considering that the year-on-year base of CPI will also be lower since then, the pork price rate in November to December will still be higher than the current one. Combined with seasonal factors, GF Securities maintained its judgment that the first quarter of next year is the annual inflation high.

In terms of concept stocks, technology sectors such as semiconductors and domestic chips were active, with Weil shares up more than 7%. However, as the growth enterprise market index fell in the afternoon, the rise of technology concept stocks also narrowed. Driven by technology stocks such as chips, consumer electronics is active, and related concepts of wireless headphones are rising again, reaching the electroacoustic limit.

Market participants said that the third and fourth quarter is the peak consumer electronics season. In the third and fourth quarters, consumer electronic products released new products in succession, replenishing inventory and increasing demand. Consumer electronics is expected to remain active through the reporting quarter.

In addition, the real estate sector remained strong throughout the day, with sunshine city, Poly Real estate, golden land group and other leading gainers. In the morning, the strong trend of the brokerage plate in the afternoon is consistent with the trend of the market, and it has stepped back. As of the closing, the overall concept of securities companies rose slightly by 0.63%, China Galaxy rose by more than 4%, ranking the leading position, with Huatai Securities and CITIC Securities leading the way.

In terms of decline, some white horse stocks continued the weak trend on Friday, especially pharmaceutical stocks, with Tonghua Dongbao down more than 9%.

In terms of capital, the total net inflow of northbound capital on Monday was 2.71 billion yuan, the 13th consecutive day of net inflow. The net inflow of Shanghai Stock connect is 1.76 billion yuan, and that of Shenzhen Stock connect is 950 million yuan.

How to get to the end of the year and the beginning of the year?

At the end of another year, similar to last year, the index seems to be stagnant again, and the views of institutions are conservative.

Looking forward to the market in December, CITIC Securities believes that the best strategy at the end of the year and the beginning of the year is cat winter, reducing the earnings expectations.

CITIC Securities suggested that, in terms of equity, it should continue to recommend undervalued sectors since September, including banks, real estate, infrastructure industry chain, home appliances, automobiles and parts, and pay attention to the gold and military sectors that benefit from the increase of external uncertainty.

GF Securities also holds a similar cautious view, saying that a shares are still in a period of slow volatility. In autumn and winter, it is recommended to allocate undervalued sectors such as the real estate chain leader and wait patiently for the opportunity of mid-term layout after the high boom variety valuation is digested.

Haitong Securities, on the other hand, said that in reference to history, it is the feature of the late period of market adjustment that strong stocks make up losses, and the undervalued stocks with high dividends are relatively stable. At present, such features have appeared in the market. The market squats for spring market momentum, which needs the signal of warm policy and fundamentals. The end of the year and the beginning of the year will be a window period. Haitong Securities predicts that bank real estate will move first when the spring market starts. If we focus on the whole year next year, technology and securities companies with faster profit growth will perform better.

Source: responsible editor of China Securities Network: Yang bin_nf4368