Focus on four main lines of science and technology

 Focus on four main lines of science and technology

The overall performance of the A-share market on Tuesday was still stable against the backdrop of the overnight collapse of European and American stock markets and the third consecutive day of net outflow of northbound funds. Three of the five stock indexes (Shanghai Composite Index, Shenzhen composite index, small and medium-sized stock index, growth enterprise market index and Shanghai Shenzhen 300) in the two markets ended up in the daily trading. The growth enterprise market index closed up 1.03% after falling more than 4% in the session. After the Spring Festival, the growth enterprise market index exceeded the Shanghai Composite Index and Shanghai Shenzhen 300 index by 17.42 and 15.65 percentage points, and continued the leading growth momentum since the third quarter of 2019.

From the perspective of specific panel performance, the strong uplift of large technology plate has become the sea god needle to stabilize the market. Board index monitoring data from Everbright Securities showed that as many as 10 of the top 20 sector indexes in 348 industry theme indexes of A-share on Tuesday were technology themes. Among them, photolithography, communication equipment, 5g concept, intelligent TV and other sectors are the theme of Star Technology subdivision industry that continues to show off in the near future. If we add such pan technology concepts as Tesla and lithium battery, the proportion of Pan Technology themes will account for more than half of the total.

Private placement and stock exchange

In recent trading days, under the background of the sharp fluctuation of the Shanghai Composite Index around 3000 points, at present, many private equity institutions are further adjusting their positions to the four major directions of large market value technology leader, relatively low tech shares, 5g industrial chain stocks, and some blue chips with high R & D investment in traditional industries.

Lu Yang, chairman and chief investment officer of portong investment, said that at present, in terms of individual stock portfolio and allocation, the institution mainly focuses on two main investment lines, namely, leading technology companies (50% - 70% positions) + High Dividend Stocks (20% - 40% positions), and carries out rotation and portfolio investment between them. For the specific technology track, at this stage, Botong investment focuses on the large market value technology leading companies and the high-end manufacturing companies whose R & D investment per unit market value index value is far higher than the mainstream technology sector.

Liu Wei, chief strategist of Zhikai investment, said that with the disclosure of the performance of Listed Companies in the first quarter report, the internal division of science and technology stocks is bound to usher in, but the investment of 5g industry, as an important starting point for stable growth this year, deserves long-term focus. Under the background of A-shares violent fluctuation at 3000 points, the private placement agency will focus on the shareholding structure and market operation rhythm. Considering that under the environment of loose market liquidity, the direction of centralized market capital inflow is the area where future investment may exceed expectations, the private placement agency will focus on and firmly value the investment opportunities of science and technology growth stocks with 5g investment as the main line in the current position adjustment and share exchange.

Chunda Fund said that the recent new refinancing regulations and other favorable policies, as well as the new social financing and credit in January exceeded expectations, are continuing to provide strong support for market liquidity expectations and risk appetite. From the perspective of internal operation of A-share, the mainstream hot plate represented by technology continues to rise, which has formed a better plate linkage and profit-making effect. In this context, after the recent market shock at the 3000 point of the Shanghai Composite Index, the private placement agency is seeking for low performance and relatively small growth varieties in the technology sector, patiently waiting for the opportunity of rotation of relevant stocks.