Trading volume of the two markets for 9 consecutive trading days broke trillion, and securities companies rose in the afternoon

category:Finance
 Trading volume of the two markets for 9 consecutive trading days broke trillion, and securities companies rose in the afternoon


[institutional view

BOC Securities: short term fluctuation does not change the upward trend of a shares

CITIC Securities: there are three main lines in the layout of external disturbance with bottom line and borrowing impact

CITIC Securities believes that the recent Sino US dispute is still in the state of high frequency and low impact, and will not evolve into a systematic risk. The emotional disturbance and market adjustment caused by the Sino US dispute is a new opportunity to enter the market.

In terms of configuration, the pharmaceutical, compulsory consumption and technology sector leaders who have experienced a short-term correction can still rely on excellent semi annual reports to obtain excess returns.

The new investors suggest that the potential leading varieties in the rising market in the fourth quarter should be arranged prospectively, focusing on three main lines:

Second, the optional consumer products that benefit from economic recovery and consumption recovery, including automobiles, household appliances, home furnishings, decoration, brand clothing and leisure services;

China CITIC: moderately over matching cycle, finance and other relatively undervalued sectors

From the stock market point of view, the economy is still in the process of recovery, the monetary policy is normalized, and the market is still in the process of shock, according to the paper issued by CSCI. Loose global liquidity and economic recovery are conducive to the support of commodity prices. From the perspective of industry allocation, it is suggested that investors should adopt the method of balanced allocation to grasp market opportunities. From the matching of industry prosperity and valuation level, investors tend to moderately over match cycle, finance and other relatively undervalued sectors. While there is a good margin of safety, it can obtain certain driving force along with economic recovery. Huatai Securities: the follow-up market style may be further biased towards value stocks. Huatai Securities issued a paper saying that the volatility of the market has increased significantly since August, reflecting the increasing divergence in the market, and the subsequent market expectations are moving towards the same process again, or the style is further biased towards value stocks. In terms of policy orientation, the central banks monetary policy in the second quarter once again made clear cross cyclical adjustment, which actually reserved policy space for the 14th five year plan in the future. On this basis, the slow bull foundation of the A-share market may be more solid. Source: Yang Bin, editor in charge of economic report in the 21st century_ NF4368

Huatai Securities: follow up market style or further value stocks

Huatai Securities issued a paper saying that since August, the volatility of the market has increased significantly, reflecting the increasing divergence in the market, and the subsequent market expectations are moving towards the same process again, which may further bias the style to value stocks. In terms of policy orientation, the central banks monetary policy in the second quarter once again made clear cross cyclical adjustment, which actually reserved policy space for the 14th five year plan in the future. On this basis, the slow bull foundation of the A-share market may be more solid.