A shares reproduce the trend of Shenzhen V growth enterprise market turnover exceeded 300 billion for the first time

category:Finance
 A shares reproduce the trend of Shenzhen V growth enterprise market turnover exceeded 300 billion for the first time


On the panel, technology concept stocks such as photolithography, driverless, Tesla, etc. were among the top gainers. In addition, due to the recent sharp increase in new coronavirus infection cases overseas, the concept of respirator protection rose again on Tuesday. The plate index rose 2.69% in large volume, with a turnover of 35.3 billion yuan, the largest trading in the history of the plate, and 15 stocks such as Jiangnan high fiber, souyute, Huasheng and dawn were up and down.

Capital flows into technology stocks

The overall valuation of a shares is still at the bottom of history. According to wind data statistics, as of Tuesdays closing, the average price earnings ratio of Shanghai stock market was 13.4 times, while the average price earnings ratio of Shanghai and Shenzhen 300 was only 12.31 times. After the collapse of US stocks, the average p / E ratio of S & P 500 is still 22.63 times, while that of NASDAQ is 35.26 times.

It is precisely because of the undervalued value of A-share that foreign capital is attracted to the A-share market, and the inflow expectation of foreign capital in March is enhanced. MSCIs first quarterly adjustment this year will take effect after Fridays close. In addition, FTSE Russell also published the evaluation results of some indexes in the global index series. 141 A shares were newly included and 54 A shares were excluded. This change will take effect after the closing on March 20. According to the official data of FTSE Russell, this inclusion will bring 28 billion yuan of passive increase funds to a shares.

The main line of the rise after the festival is technology stocks, which is consistent with the guidance of industrial policy. In the trade friction between China and the United States for more than one year, high-tech products such as chips have been controlled by others, which has seriously hindered Chinas development. The state has continuously issued relevant supporting policies, launched science and technology innovation boards at an ultra fast speed, and solved the financing problems of science and technology enterprises.

In recent days, the epidemic situation in South Korea and Japan has intensified, which may speed up the domestic substitution of some advantageous industries of Japan and South Korea. This also prompted the recent fluorine concept, lithography, automotive electronics, OLED and other plates to continue to strengthen. In addition, the epidemic has led to macroeconomic pressure, and counter cyclical regulation and control policies have increased frequently. Recently, the Political Bureau of the CPC Central Committee held a meeting to emphasize the need to increase the development of 5g network and industrial Internet, and play a positive role of 5g in promoting the development of industrial chain.

The hot market after the festival has led to the continuous hot fund raising in the near future. From the perspective of current institutional positions, scientific and technological growth is the key direction of new fund allocation. As of Tuesdays closing, Allianz China Securities all index semiconductor ETF has achieved a yield of 70.71% since the beginning of the year, ranking first in earnings. Cathay CES semiconductor ETF and China Securities 5g communication theme ETF ranked second and third in earnings, with earnings of 67.33% and 42.33% since the beginning of the year, respectively.

And the new capital promotes the market to continue to rise, and the capital enters a virtuous circle. Since the beginning of the year, the share of all index semiconductor ETFs of Allianz China Securities has increased from 493 million to 2236 million at present, an increase of 354%. Cathay Pacific CES semiconductor ETFs increased from 1.92 billion to 5.153 billion, while China China Securities 5g communication theme ETFs increased from 7.378 billion to 12 billion, of which more than 1.8 billion were added on Monday.

Data from the dragon and tiger list after Tuesday showed that although the share price soared, institutions are still chasing some leading technology stocks. The purchase of special seats for the two institutions of oufiguang was RMB 228 million, the total net purchase of the top five seats was more than RMB 500 million, and the total net sale of the top five seats was RMB 180 million. The top four positions of purchase of Ziguang shares are all special seats for institutions, and buy five is also special seats for Shenzhen Stock connect, sell one is special seats for Shenzhen Stock connect, sell two and sell four are also special seats for institutions. The total net purchase of the top five seats is 370 million yuan, and the total net sale of the top five seats is 297 million yuan. Zhiguang Electric Co., Ltd., Huatian Technology Co., Ltd., Wuhan Fangu Co., Ltd. and Shanghai Electric Power Co., Ltd. also saw large net purchases by institutions.

When the market is hot, investors should also pay attention to the short-term risks. The northbound funds show a strong market sensitivity in this market. In the first day after the festival, they increased their positions against the trend by 18.2 billion yuan, but on Tuesday, the northbound funds sold a net 4.831 billion yuan, which is the third day in a row recently. In particular, on Monday, the A shares, Hong Kong shares and Japanese shares all fluctuated slightly, with a slight decline, but the northbound funds went up The net sales of funds reached 8.705 billion yuan, the largest one-day net sales volume after the festival, and the eighth largest one-day net sales volume in history, which perfectly avoided the collapse of the global market.

And the concept of mask protection stocks, which led gains on Tuesday, also showed signs of capital loosening. In the past week, Beishang capital reduced its stake in Haiwang bio from 15.8 million shares to 8.43 million shares, nearly half of which. On Tuesday, Zhende medical bought all the hot money from the securities business department, while the third was Shaoxing Branch of Zheshang securities, selling 17.3 million yuan, and the fourth was Changzhou branch of industrial securities, selling 16.08 million yuan. The total net purchase of the first five seats was 8.41 million yuan, and the total net sale of the first five seats was 54.95 million yuan.

Short term strength is expected to continue

For the future market, Guosheng Securities said that the big logical trend of science and technology growth has not been destroyed, which is still the main stage. On Tuesday, the market pulled back and instead attracted the funds to actively purchase the technology ETF and other related products. In the future, there are 206 and 38 partial equity funds to be reviewed and approved but not issued in the last three months, which will still bring hundreds of billion level increments to the market in the future. In addition, the loose monetary environment continues, the refinancing relaxation cycle comes, and the growth of science and technology benefits the most. From the basic point of view, the growth of science and technology also has strong support and prosperity advantages.

Wanlian Securities believes that the main line of the post festival market is to continue the growth enterprise market bull market, and the growth enterprise market continues to make new highs. Under the background of industrial cycle, domestic substitution and abundant liquidity, science and technology stocks continue to make new highs. In the following two main lines, one is the science and technology stocks in the high boom period of the industry. In the future, China should increase the investment in the science and technology industry, and at the same time, with abundant market liquidity, the science and technology stocks are still in a strong trend; the other is the industries related to economic fundamentals, such as consumption, construction, building materials, real estate, etc., which have strong toughness. Societe Generale Securities said that the overseas risk aversion sentiment rose, the subsequent overseas fundamentals were under pressure, the European and American market valuation was at a high level, and the impact of risk aversion sentiment will be dominant in the short term. However, A-share is in the process of policy dividend implementation in the short term, and the fund will remain loose, and the short-term market strength is expected to continue, at least without systemic risk. The key to the performance to price ratio of emerging growth stocks is to select stocks and distinguish the gold content of core assets of advanced manufacturing industry. Source: responsible editor of Securities Times: Yang bin_nf4368

Wanlian Securities believes that the main line of the post festival market is to continue the growth enterprise market bull market, and the growth enterprise market continues to make new highs. Under the background of industrial cycle, domestic substitution and abundant liquidity, science and technology stocks continue to make new highs. In the following two main lines, one is the science and technology stocks in the high boom period of the industry. In the future, China should increase the investment in the science and technology industry, and at the same time, with abundant market liquidity, the science and technology stocks are still in a strong trend; the other is the industries related to economic fundamentals, such as consumption, construction, building materials, real estate, etc., which have strong toughness.

Societe Generale Securities said that the overseas risk aversion sentiment rose, the subsequent overseas fundamentals were under pressure, the European and American market valuation was at a high level, and the impact of risk aversion sentiment will be dominant in the short term. However, A-share is in the process of policy dividend implementation in the short term, and the fund will remain loose, and the short-term market strength is expected to continue, at least without systemic risk. The key to the performance to price ratio of emerging growth stocks is to select stocks and distinguish the gold content of core assets of advanced manufacturing industry.