In early trading on Thursday, Shanghai and Shenzhen stock markets rose and fell back, and then went down unilaterally half an hour after the opening. Close to the end of the day, the decline has narrowed.
On the disk, the defense and military industry showed a strong performance, bucking the trend, nearly 80% of the stocks in the plate rose, while the trading limits of Xinyu Guoke, Zhongchuan defense and other stocks were up.
In addition, pharmaceutical and biological industries also showed strong resilience. Vaccine concept, virus protection, medical devices and other sub industries were active, with Tibet pharmaceutical, Xingqi eye medicine, Zhifei biology and other stocks with the highest gains.
Since July 3458, the stock market has experienced a sharp fluctuation, and the stock market has been forced to rise since July.
Wang Qian, chief economist for Asia Pacific region of vanguard investment strategy and research department, also said that economic recovery and policy support started the A-share upward trend, but it was followed by high investor sentiment, a record high northward fund, a gradual increase in domestic financing balance, an increase in leverage ratio in the financial market and signs of short-term overheating in the market. Therefore, it is not surprising that the adjustment has occurred u3002
For investors, trying market timing in a volatile market will often increase the difficulty of trading. In this regard, the institutional view generally suggests that industries with deterministic performance growth should be deployed. In early trading today, industries such as military industry, medicine and other industries with good performance in half a year rose against the trend.
Liu Chenming, CO chief strategist of Tianfeng securities, said that the mood was rising and falling behind, which was still a bull market for a few companies. Since the beginning of July, although the undervalued sector has changed, but driven by the performance forecast of intensive disclosure, there is still a strong excess return in the high boom direction.
According to Zhang Xias strategy team of China Merchants Securities, about 40% of the listed companies have disclosed the performance forecast, express report or report of the semi annual report in 2020, with the positive rate of performance reaching about 40%. The disclosure ratio and the positive rate of the SME board and gem are significantly higher than those of the main board. The overall A-share performance will achieve a V-shaped rebound, and small and medium-sized enterprises have strong profitability recovery ability. It is suggested to pay attention to the subdivision areas with improved performance and upward prosperity, such as new and old infrastructure, epidemic prevention industry chain, new energy and other sectors.