Source: Economic Daily-China Economic Net
Economic Daily-China Economic Net Beijing, March 10 Affected by the external market, the two markets opened lower on Monday and moved lower. The Shanghai index gained 3,000 points and lost again. The Shenzhen Component Index and the Maker Index both lost. Falling more than 4%, individual stocks in the two cities fell more and rose less, and the risk aversion of funds rose.
As of yesterday's close, the Shanghai Composite Index reported 2943.29 points, down 3.01%; Shenzhen Component Index reported 11108.55 points, down 4.09%; ChiNext Index reported 2,093.06 points, down 4.55%.
analysts said that as domestic epidemic control continues to improve, policies are overweighting "new infrastructure", market resilience is strong, mid- to long-term market is still optimistic, short-term global market fluctuates sharply, A-shares are uncertain, and structural pressure remains in. In terms of operation, the current hotspots in the sector are not sustainable, and short-term thinking is still the main focus. In the short term, it mainly focuses on the layout of new infrastructure, and the position can be controlled at about 30% of the rolling operation.
Institutional views
CITIC Securities: The second round of this year's rise will start in the second quarter. Under the overall loose liquidity environment, policy support fundamentals "filling the hole" is the core driver of the market. Overseas shocks affect domestic market sentiment. However, March is still an excellent window for A-share allocation throughout the year. It is expected that after the epidemic ebbs, the industry The second round of this year's rise driven by capital admission and fundamental covering will start in the second quarter. In terms of
configuration, infrastructure and technology are the main lines of the year: on the one hand, it is recommended that both the old and the new infrastructure be grasped, and the “new infrastructure” combination has been added; on the other hand, the technology sector will continue to differentiate, among which there is limited room for subsequent adjustments to the technology white horse. It is recommended to continue to stick to the configuration.
Haitong Securities: The market is still gaining momentum, and technology + brokerage is still the main line. The pattern of the bull market that began in early 19 remains unchanged: the cycle of bulls and bears, corporate profits bottomed out, asset allocation was biased towards A shares, and the epidemic only affected periodic earnings. Strengthen confidence, maintain patience, focus on the key to profit throughout the year, and technology + securities companies that are in line with the transformation direction are the main line. The mid-term advantages of technology remain unchanged.
From the perspective of industry fundamentals, the new round of technology cycle represented by 5G has just begun. Similar to 3G/4G in 12-15 years, this fundamental rebound is expected to continue for 2 years, from hardware to content, software, and applications. The scene continues to spread. The overweighting of new infrastructure investment has begun, which will help the fundamentals of the technology industry to rebound.
Important news on the A-share market
· Baolight: The actual controller intends to reduce its holding of 4% of the company’s total share capital
· The opening of the US stock market is blown! The Dow once fell more than 2,000 points. Is A-share a golden pit or a mountainside?
· One day up 56%, 4 days up 175%! The explosion effect will come to an end as soon as it appears.
· Fixed increase blowout! Last year, nearly 30% of the company’s fixed-increasing company has broken the issue. Long-term funding "play" is different
· Tianzhi Aviation Science and Technology Innovation Board listing review process resumed
· Reply to the exchange’s third round of inquiries related to Shenzhou Cell related transactions
· Aiming at "precision medical" Shengxiang Biological Preparation Technology Innovation Board
· “March 8 Queen’s Day” becomes another important shopping festival
· Price increases are expected to fall back steadily
· The overseas market continues to be unfavorable, fund managers start the hedging model
· U.S. stocks’ intraday triggering of the fuse mechanism, the oil price “diving” triggers a major international financial market Shocking
·The net outflow of northbound funds is 14.3 billion yuan
·Haven assets are favored. The spread between China and foreign countries has widened
Peripheral markets
As of press time
