In contrast, since November, the Shanghai Stock Exchange 50 index has been in a strong trend, rising more than 1% on Friday driven by bank stocks, breaking through the second highest point in history of 3494.82 set at the peak of bull market in 2015 and closing at its highest level since March 6, 2008.
Although the performance of a shares is flat, but northbound funds continue to rush into the market, which has been net inflow for the fourth consecutive week. Statistics show that this week, the total net inflow of capital northward to a shares reached 16.85 billion yuan, which was accelerated compared with the previous two weeks.
Looking forward to the market in December, according to the strategic view of CSCI, the market will continue the upward pressure and lower support box shock trend, and switch the market in the style of undervalued and pro cyclical plate, which may be more obvious. It is suggested that investors should seize the opportunity of low absorption in the volatile market, and do not chase higher. In terms of allocation direction, it is suggested to strategically arrange large financial sectors dominated by securities companies, insurance and banks, and grasp the beneficial direction of economic recovery such as pro cyclical manufacturing industry and optional consumption. At the same time, with the end of the year approaching, the annual report performance significantly increased individual stocks or gradually favored by funds.
Zhongyuan securities issued a paper saying that in 2021, the domestic fundamentals will continue to recover after the epidemic situation, and will gradually turn into the active replenishment cycle. The earnings performance of a shares will continue to improve, and the central stock market will fluctuate upward. In 2021, the differentiation of inventory cycle and the switching of profit power sources will lead to the increasingly obvious differentiation of recovery process among industries, and it is expected that a shares will return to the growth style again.
On November 28, the 2020 annual meeting of the Chinese Financial Society and the annual meeting of the China Financial Forum sponsored by the China Financial Society was held in Beijing. Liu Guiping, vice president of the peoples Bank of China, said at the meeting that through financial opening, the domestic financial system, financial market and the docking of financial system rules with international ones can be strengthened, and foreign capital can be allowed to participate in the domestic asset management market in depth, so as to provide more diversified channels for increasing residents property income. Cao Yu, vice chairman of the CBRC, said at the meeting that the relationship between strengthening supervision and supporting innovation should be well handled. We will resolutely crack down on pseudo innovation and random innovation that deviate from the needs of the real economy, endanger financial stability, and infringe on the rights and interests of consumers. Yan Qingmin, vice chairman of the China Securities Regulatory Commission, said at the meeting that it was necessary to improve the normal delisting mechanism and realize the goal of getting back down and retiring steadily. For the black sheep of serious financial fraud and the empty shell zombies who lose the ability of sustainable operation, we should strengthen the rigidity of delisting, and never allow prolonged delay. (China fund daily)
2. CMF report: Chinas GDP expected to grow by 8.1% in 2021
According to a report released by the China macroeconomic Forum (CMF), Chinas macro economic parameters will rebound in 2021, and the real growth rate of GDP in the whole year may reach 8.1%, showing an operational trend of overall high and quarterly decline.
3. The list of Shanghai Shenzhen Hong Kong stock connect expanded, and the stock of science and technology innovation board was included for the first time
4. The detailed rules for the transfer of the new third board to the second board have been released, and these enterprises can go directly to the science and Technology Innovation Board of the gem
On the evening of November 27, the Shanghai and Shenzhen Stock Exchange issued a draft for comments on the new three board transfer rules, which clarified the listing conditions, share sales restriction requirements, listing audit arrangements and listing sponsor performance of selected listed companies to the science and technology innovation board or gem. It is worth noting that the transfer board listing does not involve the issue of new shares. From the point of view of the transition threshold, it is necessary for the selected layer to be listed continuously for more than one year; the total capital stock shall not be less than RMB 30 million; the number of shareholders shall not be less than 1000; the cumulative trading volume of the stock shall not be less than 10 million shares for 60 consecutive trading days before the announcement date of the boards deliberation and approval of the listing resolution; it shall meet the issuance conditions and industry positioning of the corresponding listed board. From the audit time limit, the exchange should make a decision on whether to approve the listing on the board within 2 months from the date of acceptance.
5. The latest! 5 provinces, autonomous regions and cities gathered for the first time, and the drug price dropped by 83.54%
Chongqing, Guizhou, Yunnan, Hunan and Guangxi have formed a purchasing alliance to carry out the first batch of commonly used drugs in Chongqing. A total of 15 varieties and 187 product specifications were selected, with a maximum price reduction of 83.54%, Xinhua reported. Prior to this, the National Medical Insurance Bureau has just issued the notice on the development of the second batch of centralized procurement of high-value medical consumables data rapid collection and price detection shows that the second batch of medical consumables list mainly includes: artificial hip joint, artificial knee joint, defibrillator, occluder, orthopedic materials, stapler six categories.
6. Xinhua review: hard core measures are needed to curb the new craze in the property market
Xinhua news review pointed out that recently, the property market in some cities has been booming, and some Internet red real estate even appeared the phenomenon of 10000 people robbing for houses and crowdfunding to fight for new. Behind the hit the new craze, the double track arbitrage of the prices of new and second-hand houses has emerged, and the regulation and control of the real estate market has once again attracted attention. In addition to increasing supply and limiting the price of new houses, there are still many things to be done in the regulation of the property market, such as paying more attention to the flow of housing, strengthening the regulation of holding links, and making tax leverage play a greater role. The establishment of a scientific and reasonable real estate tax system, through market-oriented means to curb investment speculation, may be able to take effect. (Xinhua News Agency)
7. There are blind investment and uncompleted chip, MIIT: suggest merger and reorganization
At the second China Development Planning Forum held on 28th, Wang Zhijun, Vice Minister of the Ministry of industry and information technology, said that in the past few years, there were repeated construction and overcapacity in steel, cement, electrolytic aluminum and other fields, including repeated construction in emerging industries such as photovoltaic. At present, there are blind investment and uncompleted projects in chip manufacturing and other industries, and investment in integrated circuit manufacturing in the previous stage Capital has also been exposed, causing huge losses, which requires planning and strengthening supervision. At the same time, we should see that merger and reorganization is an effective form for enterprises to integrate innovative resources and low-level expansion, realize large-scale development and enhance competitiveness.
Institutions look at the market
Li Xunlei, an economist with China and Thailand, said that the change of macro environment is the core force leading to the big trend rotation of interest rate and stock market. The key to determine the future market style is the strength of economic recovery and the trend of monetary policy. The pattern of structural differentiation in 2021 should continue, because it is a major trend under the guidance of stock economy. Judging from the industry valuation level (PE and Pb) of the A-share market, most of the cyclical industries are at the historical low level, while the valuation level of the good track industry is mostly at the historical high. Therefore, there is a possibility of mean reversion next year.
Haitong Securities: next year will enter a bull market bubble driven by profit and sentiment.
Haitong strategy recently released the outlook of China stock market in 2021. Its view is that in 2019, the market is in the bull market period driven by liquidity. This year is the bull market boom of fundamentals and capital. The market will enter a bull market bubble driven by fundamental and emotional aspects in 2021. It is estimated that in 2021, the accumulated net profit of all a shares owned by the parent company will grow by 15% on a year-on-year basis. The market sentiment will further move up from the current 60 degrees, and next year will be a year of stocks inspiring people.
Guotai Junan pointed out that different from the global zhugela cycle in 2017, the current financing environment for small and medium-sized enterprises has been significantly improved, and the capital expenditure of the manufacturing industry will be substantially restored, which means that the resonance between Chinas manufacturing industry and the global recovery will be stronger. It is necessary to look at investment opportunities from a higher perspective and further profit boom, and recommend two main lines of optional consumption + made in China: 1) optional consumption recommendation: hotel / liquor / Automobile / household appliances / aviation. 2) Made in China recommendation: new energy vehicle / photovoltaic / mechanical / Petrochemical / basic.
Plate digs gold
1. New energy sanitation vehicle will break out soon
Impact plate: energy conservation and environmental protection
2. Great breakthrough in field assembly technology of UHV converter
According to the State Grid, the last phase of 800 kV high-end converter transformer in Hainan station of Qinghai Henan u00b1 800 kV HVDC project has successfully passed the test in Xining high-altitude maintenance base. So far, all six 800 kV high-end converters with on-site assembly technology are all qualified. This is the first time in the world to assemble and produce large-scale converter outside the transformer factory, and also the first time to carry out the production assembly and test of UHV converter in an altitude of 2500 meters.
Related stocks: China XD (601179. SH), Pinggao electric (600312. SH), Guodian Nari (600406. SH), Xuji Electric (000400. SZ), TBEA (600089. SH), etc
3. Civil Aviation Administration and national development and Reform Commission liberalizes domestic freight rates of more than three airlines
Impact plate: Aviation
Affected stocks: China Southern Airlines (600029. SH), China Eastern Airlines (600115. SH), etc