Painting style changes after the official battle in November?

category:Finance
 Painting style changes after the official battle in November?


On the 30th, the stock indexes of the two cities opened high and went high. In the early trading, the Shanghai index rose more than 1%, reaching an early high of 3456 points. But in the afternoon big fund selling resistance, the market painting style changed greatly, the three major stock indexes rose and fell. Up to the end of the day, in addition to the gem index rose 0.49%, Shanghai index and Shenzhen composite index all closed slightly lower. More than 2300 stocks fell in the whole market, making less money.

With the stock index rising and falling, the hot financial blue chips such as banks, securities and insurance also went down in the early stage. The internal differentiation of the cycle plate was obvious, and the steel stocks fell. However, the trend of the nonferrous metal plate was still strong, and the organic silicon and coal plates continued to rebound. In addition, the semiconductor, new energy vehicles, degradable plastics and other plates also showed wheel pulling.

It needs to be pointed out that although the stock index fluctuates greatly, the market capital is improving continuously. Wind data showed that on the 30th, the trading volume of the two cities increased from 725.332 billion yuan on Friday to 950012 million yuan; at the same time, the turnover of northward capital increased from 79.162 billion yuan to 146.240 billion yuan, and the net inflow increased from 2.476 billion yuan to 4.939 billion yuan.

Source: wind

Li Shun (pseudonym), an equity fund manager, said that the 30 day stock index was down, or it was related to the large-scale inflow and outflow of institutional funds. Close to the end of the year, due to the end of the year to adjust positions or layout of cross-year market, the amount of capital has been enlarged. But from the basic situation, the sustainability of the market should not have a big impact. At the same time, China Merchants Fund said that from the recent trend, the main line of the market is further switching to low value Pro cyclical varieties.

According to the data of Everbright metalworking, the average positions of stock funds and partial mixed funds increased by 1.82% and 1.40% respectively on a month on month basis. Among them, the average position of the stock fund has risen for three consecutive weeks, returning to more than 90%.

China Merchants Fund said that in the export industry chain remains strong, real estate completion end is expected to speed up, the domestic economy as a whole still has inertia.

Li Shun said that in recent years, the blue chip plates such as silver, securities and insurance, agriculture, forestry, animal husbandry and fishery, aviation and other blue chips have supported the stock indexs upward oscillation. The pro cyclical plate is still maintaining the upward trend, but the internal plate has begun to differentiate. At present, silicone, aluminum, copper and other related products maintain strong product prices. The trend of related stocks is also relatively strong, and other cyclical plates are gradually weakening. Next, the cycle plate can still focus on, especially to timely track the prices of various cycle products and futures trends.

In terms of the allocation direction of cross-year market, China Merchants Fund suggests following the following three major ideas: first, the pro cyclical sector has good profitability certainty, can follow the main line of manufacturing investment repair, pay attention to the advanced manufacturing sector and the banking sector with high neutral price in the financial sector. Second, with the recovery of investors risk preference, semiconductor and consumer electronics sectors, which have been suppressed in the early stage, have better repair space. Third, as consumption data continues to pick up, the vaccine process beyond expectations will also have a further catalytic effect on optional consumption, focusing on automobile, catering, gambling and other sectors.

In view of the liquor sector, Hou Hao, fund manager of China Securities Baijiu index fund, pointed out that near the end of the year, major liquor companies have basically settled accounts, and the plate is expected to enter the period of shrinking and raising prices before the Spring Festival peak season. After the digestion of short-term information vacuum period, plate sentiment is expected to further boost. With the increase of the proportion of direct sales of leading liquor, there is a high probability that the performance from the fourth quarter to the first quarter of next year will continuously exceed the expectation, and the liquor industry is expected to achieve a higher recovery elasticity in the first half of next year. In addition, Li Shuangquan, the proposed fund manager of the mixed fund of Chinese business prosperity optimization, said that at the current time point, some traditional industries such as chemical industry, nonferrous metal industry and large finance industry with upward boom also deserve attention. Taking big finance as an example, Li Shuangquan pointed out that since the third quarter, the banks profits have shown an obvious recovery trend. With the continuous confirmation of economic recovery, both the asset quality and the profitability are in a good trend. In addition, the bank valuation is at a historical low. With the confirmation of the turning point of profit growth and the continuous improvement of asset quality, it is expected that there will be obvious valuation repair Space. Editor: Ya Wenhui source: China Securities Journal Author: Yu Shipeng editor in charge: Zhong Qiming_ NF5619

In view of the liquor sector, Hou Hao, fund manager of China Securities Baijiu index fund, pointed out that near the end of the year, major liquor companies have basically settled accounts, and the plate is expected to enter the period of shrinking and raising prices before the Spring Festival peak season. After the digestion of short-term information vacuum period, plate sentiment is expected to further boost. With the increase of the proportion of direct sales of leading liquor, there is a high probability that the performance from the fourth quarter to the first quarter of next year will continuously exceed the expectation, and the liquor industry is expected to achieve a higher recovery elasticity in the first half of next year.

In addition, Li Shuangquan, the proposed fund manager of the mixed fund of Chinese business prosperity optimization, said that at the current time point, some traditional industries such as chemical industry, nonferrous metal industry and large finance industry with upward boom also deserve attention. Taking big finance as an example, Li Shuangquan pointed out that since the third quarter, the banks profits have shown an obvious recovery trend. With the continuous confirmation of economic recovery, both the asset quality and the profitability are in a good trend. In addition, the bank valuation is at a historical low. With the confirmation of the turning point of profit growth and the continuous improvement of asset quality, it is expected that there will be obvious valuation repair Space.

Editor: Ya Wenhui