Ren Zeping: we should believe in the resilience of the market
Ren Zeping said that the opening result of a shares today is predictable. The energy released by the market reflects how the market priced the impact of the epidemic. We should believe in the resilience of the market and the market itself. The key is to prevent the secondary risk, to provide liquidity support, to resolve the risk of equity pledge, and to rescue the industries suffering from serious disasters. In my opinion, we should reduce interest rates and standards for industries and regions suffering from severe disasters. Tax reduction and fee reduction in fiscal policy should be implemented as soon as possible. Emergency is like fire fighting.
Xu Gao: market further falling space is not big and will maintain low volatility
Xu Gao, chief economist of Bank of China International Securities, said that the market decline mainly reflected the impact of the development and change of the epidemic during the closed period. During the closed period of a shares, the peripheral stock markets all fell, and the FTSE China A50 Index fell by more than 7%, almost the same as the current market. In fact, it is equivalent to accumulating all the losses of the peripheral stock market in recent days, so the decline is relatively large. For the future trend of the stock market, he said that the most important thing is to see the development of the epidemic itself. We believe that under the current favorable epidemic prevention and control measures, the development of the epidemic should be controlled in February, in this case, the impact on the market is short-term.
Li Daxiao: at present, there is no need to panic and believe in the future
For todays A-share crash, there is no need to panic, believe in the future. The scale of long-term capital entering the market will continue to grow, the investment scale of local pension funds or entrusted social security funds will continue to increase, the financial subsidiaries of banks will be established in succession, and the insurance funds can be invested in high-quality listed companies in a financial and strategic way.
Zhang Weis comment on A-shares plummeting: there is no need to panic blindly about the opportunity of buying individual stocks now
Todays market panic is reasonable, but it is also blind and unnecessary. The reason for this is mainly due to three reasons: first, even if the return to work is delayed due to the epidemic, the enterprise fundamentals are expected to decline, but the counter cyclical regulatory role of macro policies cannot be ignored; second, from the perspective of the SARS market in 2003, when panic selling occurred at home, it was often copied by foreign capital; third, with panic selling at the opening, individual high-quality companies The companys share price has reached a new low and there are excellent buying opportunities.
Shao Yu, chief executive of Orient Securities: the faster the market falls in the short term, the greater the rebound momentum
Shao Yu, chief economist of Oriental Securities, said that during the closing period of a shares in the past week, the external market fell. Todays sharp fall of a shares is mainly a concentrated release of accumulated pressure. In a short period of time, the faster the market falls and the more pressure is released, the greater the rebound momentum. It can be said that this collapse is mainly a process of emotional catharsis, with herding.
How to operate in the aftermarket? Top 10 securities companies: it is advisable to build a warehouse under the epidemic pit
CITIC Securities believes that in 2020, the impact of A-share earnings is expected to be smaller than that of the economy, based on the comprehensive economic impact, policy response and the industrial structure characteristics of A-share. The short-term adjustment caused by the epidemic is expected to be smaller than the decline of the peripheral market during the Spring Festival. The pace of rapid excavation and slow grinding is fast, and the rapid adjustment rate will end in a week.
February will be the golden pit on the way of well-off cattle, which is the best allocation time point of the whole year. As the economy returns to normal gradually in the second quarter, the well-off cattle rate will be officially opened around the two sessions, and the short-term transaction and long-term allocation opportunities coexist.
China Southern Fund: the impact in the first quarter has not changed the long-term trend
Lin Lefeng, equity investment department of China Southern Fund and fund manager of China Southern Baoyuan, believes that the one-off adjustment after the festival is inevitable for the stock market. In terms of the range, referring to the performance of other markets during the Spring Festival in China, the Hang Seng Index fell 5.7%, the Hang Seng China enterprise index fell 6.5%, and the A50 futures fell about 7%. We believe that the A shares after the festival face a certain range of adjustment.
Huaxia Fund: the periodic impact of the epidemic on the market does not change the long-term trend
Huaxia Fund said that considering that the current valuation of the A-share market is in the historical low range, the growth rate of corporate profits has gradually bottomed out and rebounded, and the liquidity environment has improved marginally, the overall upward space of the A-share index will be opened again after the situation of the epidemic is clear under the inflow of incremental funds.
Wells Fargo Fund: a share market will open in spring when the epidemic turns
Chen Jie, chief strategy analyst and general manager of Equity Research Department of Wells Fargo fund, said that the epidemic will have a downward impact on the A-share market in the short term, but mainly in the short term. We are still optimistic about the medium and long term. From the market performance in the SARS epidemic in 2003, the current time point can be similar to that in the middle and late April 2003. In the short term, a share will be under more pressure due to the impact of risk aversion, especially in some consumer industries (such as commerce and trade, leisure services, textiles and clothing, food and beverage, etc.) and transportation industries, where there may be excess earnings. However, it should be emphasized that when the follow-up epidemic is substantially alleviated (turning point appears), it is when A-share starts to rebound, and the epidemic is only a short-term disturbance to the spring market of A-share. In the medium and long term, liquidity, the pace of economic operation and the process of reform are the fundamental factors that determine the market. We all have an optimistic attitude and firm confidence in these factors.
Xingquan Fund: the short-term impact on the market, the long-term trend has not been changed or become a good opportunity for allocation
During the Spring Festival in 2020, affected by the new coronavirus pneumonia epidemic, people across the country ushered in a special spring festival. Xingquan fund closely tracks the progress of the epidemic, and believes that the epidemic will have a short-term impact on the macro-economy and capital market which have gradually stabilized since 2019 to some extent. However, we believe that the long-term trend of Chinas economy and capital market will not change, and that the short-term adjustment for the long-term funds will become a good opportunity to lay out high-quality assets.
Huaan Fund: the medium and long-term trend does not change the callback or obvious opportunity to increase positions!
From the perspective of asset allocation, Huaan Fund believes that the allocation value of stocks still has a comparative advantage over bonds. In the short term, the market performance after the festival may be better than expected. Considering the learning effect from the SARS market, the impact of the market on the epidemic is more understood as temporary, irregular and one-off. When the epidemic under control signs appear, the market is expected to lead to a rebound.
Jingshun Great Wall: the impact of the epidemic on the market in the medium and long term is limited, and the follow-up policy space is large
Jingshun Great Wall fund expects that if the short-term adjustment is too large, it can focus on the investment opportunities brought by the high-quality individual stocks killed by mistake. As the spread of the new coronavirus is still changing dynamically, and the duration, breadth and depth of the impact are still difficult to predict, it is suggested that investors should pay close attention to the development of the epidemic in the future.
Penghua Fund: Post epidemic market adjustment or current opportunity to focus on medical TMT
Penghua Fund expects that the market rate will be adjusted quickly and intensively after the festival. From the perspective of public funds and new development funds, the core of our top priority is to provide the holders with certain absolute return on earnings. Then the adjusted market will be a very good time window for position building. The industries we focus on are still those, such as Medicine, TMT and some consumption will have good returns in the future.