At present, the consensus of the market has been formed, and the impact of the epidemic on the pace of trading is certain. After opening, the equity market is likely to fluctuate violently in a short period of time. Wei Fengchun, chief macro strategy analyst of Boshi fund, told reporters.
In fact, compression test has been carried out in many kinds of mechanisms. According to the 21st century economic reporter, most organizations are optimistic about the medium and long-term trend.
According to 21st century economic report, some securities companies are carrying out corresponding stress tests on some stock pledge, margin trading and assets.
Before that, some securities companies have carried out corresponding stress tests on some stock pledge, margin trading and assets.
The company is preparing to measure the risk exposure possibility of individual shares pledged or traded by customers under extreme circumstances, especially some local companies in Hubei with high pledge rate. A South China securities company credit trading business said.
Although it is still on holiday, many financial practitioners are busy.
The 21st century economic report reporter found that many research teams of securities companies such as CITIC Securities and China Merchants Securities held a conference call on February 2 to interpret the impact and impact of the epidemic on the market, and relevant research reports of securities companies were also published.
There are also public funds that have been busy. As a mainstream investment institution, these two days have been preparing for the opening of the market and doing a lot of market interpretation work. A public funder in South China told 21st century economic news.
In fact, in the past few days, the CSRC and the exchange have successively released new measures to guide the capital market to stabilize expectations before opening.
For example, on February 2, the Shanghai Stock Exchange pointed out that we should take a rational view of the impact of the epidemic and prudently carry out securities investment. The CSRC also pointed out that in view of the occurrence of public opinion and the recent response of the overseas market, the relevant departments will maintain a high degree of vigilance, adhere to the bottom line thinking, introduce and study hedging tools, and ease market panic.
In the long run, there is still confidence. On February 2, Liu Lin (pseudonym), a researcher of public funds in Shanghai, told 21st century economic news.
On February 2, Liu Lin returned to Shanghai from his hometown. There are still some hidden concerns about his return to work the next day.
Our company requires everyone to return to Shanghai for work, but only some people need to go to the company for work. Basically, only one person is in the necessary position, and other employees are at home. As long as the office meets the minimum number of normal office personnel. Liu Lin said.
For example, traders and researchers, stock and bond investors are required to go to one, while investors are divided into groups and each group works for one week. But I have to do some work handover on the first day. Liu Lin told 21st century economic reporter.
Another employee of a public fund company in Beijing also said, its not too difficult to work remotely, and its AB role rotation.
Compared with the public funds, the work arrangement requirements of some securities companies are more relaxed.
An investment banker from a securities firm in Beijing told 21st century economic news, we will arrange to work at home before the end of February, and we are not allowed to go on business without urgent matters.
The financial industry has a high degree of electronization and Internet. Flexible work and remote work should not be a problem. A researcher at a securities firm in Beijing said.
Institutional response to the epidemic
With the opening of the market in the near future, how to deal with it is still a challenge under the common expectation of all parties in the market.
CITIC, Guoxin, Huatai, Orient, Dongxing and most other brokerages through the WeChat public number, official website and other ways to make arrangements for transaction service tips. The 21st century economic news reporter learned that for some securities companies with appointment and commission business, the appointment forms have been cancelled in batches.
On February 2, YueKai securities research found that from the perspective of time rhythm, the epidemic situation may be more effectively controlled and the impact on the secondary market will subside before the peak of students return journey at the end of February in an optimistic situation.
In March, the market is expected to consolidate at the bottom or usher in a certain rebound, and April is the intensive stage of the first quarter report. The negative impact of the first quarter epidemic on related listed companies will also appear, leading to the stock index or re pressure.
Some institutions believe that there may be some structural market, such as in the pharmaceutical, e-commerce and other industries or themes, also brewing some investment opportunities.
In terms of allocation strategy, Boshi Fund believes that the impact of different industries in this epidemic is quite different. The short and medium-term technology, new energy, medicine and partial stable industries will be more focused by the market in the future because they are less directly affected by the epidemic; meanwhile, the reverse cycle and growth direction such as infrastructure, environmental protection, 5g, military industry and other industries will still have value in the future Configuration has to be added.
In the long run, the economic and market environment at home and abroad continues to improve, and a shares still have long-term investment value. The influence of event factors on market sentiment tends to be short-term, and the medium and long-term performance of the market is more determined by multiple factors such as economy, policy and liquidity. With the deepening of the reform of capital market, the market mechanism of A-share has been improved obviously. All kinds of long-term funds, including foreign capital, pay more attention to the long-term value of enterprises, and will not be affected by short-term events. In the short term, transportation, catering, tourism and other sectors may be greatly impacted by the epidemic, while medicine and other fields will benefit relatively. According to e fund.
In addition to making adequate preparations for investment and other businesses, various financial institutions have also made donations to help the affected areas.
According to the incomplete statistics of previous fund industry associations, as of 20:00 on January 30, there were 75 public fund companies, 88 private fund managers, 6 private fund management institutions, 1 wholly foreign-owned private securities investment fund manager, 1 rqfii institution to Hubei Charity Federation, Wuhan Charity Federation, Wuhan Red Cross foundation, Shanghai Charity Federation and other charity organizations and related organizations The hospital decided or realized the donation amount of 331 million yuan.
According to the data of the Securities Association, as of 12:00 on February 2, 2020, 64 member units (including subsidiaries, shareholder units, etc.) have successively donated more than 430 million yuan of funds and materials in short supply.
On the one hand, we will help the epidemic area through donations and other means. On the other hand, we will do our best to do our own epidemic prevention work, protect the rights and interests of investors, maintain the smooth operation of the market and various businesses, and do a good job in stabilizing the capital market and being a gatekeeper. Said the manager of public funds.
Source: editor in charge of 21st century economic report: Zhang Meiyu nf2100