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A-share resilience highlights institutions’ positive attitude towards the new year’s market | A-shares-Finance News


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Original title: A-share resilience highlights institutions’ positive attitude towards New Year’s Eve market

Source: Economic Information Daily

Affected by multiple factors, overseas markets experienced strong volatility last Friday. In contrast, the overall performance of the A-share market is relatively stable, and market resilience is prominent. At the same time, as the end of the year approaches, the organization’s discussion on the New Year’s Eve market is also slowly unfolding. The agency believes that although the uncertain factors affecting the market still exist in the fourth quarter, the logic of the new year’s market still exists, and the focus is on high-growth and some low-valued sectors.

Shocks in overseas markets, China’s asset resilience highlights

On November 29, the three major A-share indexes opened lower and tended to diverge. The ChiNext Index and the Shenzhen Component Index opened lower and moved higher. The overall performance of the three major indexes was stable. Over 1,600 stocks in the two markets rose. As of the close of the day, the Shanghai Composite Index fell slightly by 0.04% to 3562.7 points, the Shenzhen Component Index rose 0.22% to 1,4810.2 points, and the ChiNext Index rose 1% to 3503.41 points. The turnover of the two cities was 1.18 trillion yuan, breaking through one trillion yuan for the 27th consecutive trading day; the northbound funds bought 3.284 billion yuan in net. From an industry perspective, batteries, aerospace, motors, medical equipment, auto parts, etc. rose at the top.

It is worth noting that compared with the turbulence in the international market, the A-share market has shown outstanding resilience. Affected by multiple factors, the international market experienced greater volatility last Friday, with some major stock indexes falling as much as 2% to 4%, and New York crude oil futures prices fell by more than 13%. Some assets with hedging properties, such as gold and treasury bonds, bucked the market and strengthened.

“The current A-share market is relatively stable as a whole, with a series of characteristics such as marketization, institutionalization, and specialization highlighted, the vitality of transaction financing is fully released, and the market standardization is also continuously improving.” Fu Lichun, economist and founding partner of Yuntai Capital, said “Economic Information Daily” reporter said that Chinese assets, especially stock assets, have shown a policy-based, long-term relatively stable state since 2018. In his view, the market may be affected by policies, the environment and some unexpected factors, but some trending things will not change. “Especially in the process of continuous capital market reforms and continuous optimization of the investor structure, the resilience of the A-share market can be guaranteed.”

  CICCSaid that under the new variables, A-shares may be more resilient than overseas markets, and policy expectations for stable internal growth may be a key factor in dominating market performance. The end of the year and the beginning of next year may be an important window period for policy strengthening. Although the market may still face some challenges, the overall market performance from now to the end of 2022 is positive.

  CITIC SecuritiesIt is also believed that the short-term reduction of risk appetite may cause a certain impact on the market, but it also provides opportunities for long-term allocation. As far as the A-share market is concerned, in the context of my country’s strong prevention and control, market sentiment is expected to recover quickly. Subsequent domestic assets will become more attractive to overseas investors.

Shocking city institutions hotly discuss the New Year’s Eve market

Since the beginning of this year, the A-share market has seen obvious volatility, the sector has moved rapidly, and the rise of major indexes has not been obvious. As of the close of trading on the 29th, the Shanghai Composite Index, Shenzhen Component Index and ChiNext Index had increased by 2.58%, 2.34% and 18.11% respectively during the year. With the coming to an end in 2021, the industry’s discussion on the New Year’s Eve market is gradually heating up. Overall, the agency believes that although the uncertain factors affecting the market still exist in the fourth quarter, the logic of the new year’s market still exists, focusing on low-value and high-growth sectors.

“Usually referred to as the New Year’s Eve market refers to the stock market rising from the end of this year to the beginning of next year.” Gui Haoming, chief market expert of the Shenyin & Wanguo Securities Research Institute, told reporters that from the current situation, the market year and year There is a possibility of rising, but considering that the A-share market as a whole is still a shock market this year, the uncertainty affecting the market in the fourth quarter still exists, and it will not be declared over because of the past of this year. It is expected that the market will exist in the new year. The intensity may not be too great. “At present, the market still lacks an impactful, or in other words, the main line of investment that can penetrate into next year.”

In response to the current short-term disturbances facing the market, the agency believes that this impact may be smoothly digested by the market later. CITIC Securities said that in the short term, market sentiment is facing some shocks, but it will also bring a good opportunity to lay out the blue chip market for the new year. It is recommended to resolutely lay out the blue-chip mainline around the “three lows”. Focus on varieties with low fundamental expectations, midstream manufacturing that was suppressed by cost and supply chain issues in the early stage, and some consumer and pharmaceutical industries whose valuations have returned to a reasonable range, such as liquor, food, duty-free, vaccines, blood products, etc.; Pay attention to the varieties whose valuations are still relatively low, as well as the high-prosperity varieties that are relatively low after adjustment, such as semiconductor equipment, special chip devices, and military industries.

  Zheshang SecuritiesIt is believed that after the implementation of the three quarterly reports, since November, with the launch of carbon emission reduction support tools and October social financing exceeding expectations, market expectations for liquidity have continued to improve. At the same time, the opening of the Beijing Stock Exchange has further boosted science and technology innovation. Style preference. Although the new coronavirus strain has once again increased the uncertainty of the global epidemic, it is expected that the market is expected to digest it quickly when it comes to the impact of A shares.

  Industrial SecuritiesIt said that the logic of the New Year’s Eve market has not changed. Under the pressure of steady growth, the expectation of structural relaxation of real estate policies has begun to heat up, and infrastructure construction is also expected to exert force under inter-cyclical adjustments. On the other hand, risk appetite has risen, and low-value sectors such as securities firms and insurance are expected to usher in recovery.

“From the perspective of next year, how to stabilize growth, how to further promote the development of the real economy, and how to effectively improveCommon peopleConsumption power and so on, new market hot topics may emerge around these points. “Gui Haoming said.

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