Disc Observations
Friday, the three major A-share indexes oscillated back down throughout the day. The two markets combined turnover of 918.3 billion yuan; northward funds net selling amounted to 3.117 billion yuan. Plate observation: agriculture, forestry and fisheries, textile and clothing, tourism and other sectors rose; while health care, electrical equipment, brewing and other sectors fell. As of the close: the Shanghai index fell 1.17%, at 3212.24 points; the Shenzhen Composite Index fell 1.89%, at 12072.73 points; GEM index fell 2.52%, at 2637.94 points.
Market outlook
Shares index, the restorative overshooting rally opened since last week, the current point of view of the power of the attack has weakened, the market this week to maintain the contraction of the shock run, the short-term rebound is under greater pressure (today it is because of the fear of the weekend news is unstable, and some of the funds choose to leave the field to wait and see); however, the index, although there is a need for back to the footsteps, but the space is limited to the downward direction! The gap level support (Shanghai index in the vicinity of 3200 points, SZCI index in the vicinity of 12000, GEM index in the vicinity of 2640 points); since we believe that the market is already in the low region, in the monetary and credit policy in the future is still in a moderate state, stable growth continues to increase the expectations, then either waiting for incremental funds to enter the field breakthrough up, or may usher in the benign technical adjustments, at this stage is the strategic configuration window.
Panel, the main line is still concentrated in the previous oversold varieties, but the oversold rebound after part of the short-term bottoming funds to choose to stop profit and leave the field, the new funds are not strong enough to undertake the temporary; for example, yesterday we commented on the pharmaceutical and medical (CXO, testing) plate, today instead of the top fall; however, the pharmaceutical plate has been rebounding for a period of time, and we have also more than recommended the One or two days, and is expected to plate in the upcoming second quarter will continue to get the attention of the market funds.
Today we'll talk about another sector we mentioned, agriculture. Recently, the Ministry of Agriculture and Rural Affairs, the Ministry of Finance clear 2022 food production priorities and the comprehensive implementation of subsidies, incentives, financial and other supportive policy measures package (nine points, do not start to talk about it), requiring all localities to go all out to ensure that the summer wheat harvest, do everything possible to expand the planting of soybean and oilseeds, and make every effort to ensure that the year's grain harvest, keep a close eye on the price of agricultural materials to ensure that the supply of agricultural supplies, and do not slacken in the agricultural disaster prevention, mitigation and relief, the basic plate to stabilize agriculture, to promote the promotion of the agricultural industry, and to promote the development of the agricultural industry. Stabilize the basic plate of agriculture, to promote stable and healthy economic and social development to provide strong support; this may also be one of the reasons why today's agricultural plate performance is relatively good.
Operating strategy
Operating, short-term investors can appropriately reduce the previous bottom position, waiting for the market to stabilize again, medium and long term investors can continue to hold positions. Concerned about the quarterly report performance is expected to be good or less affected by the external environment of the segment; such as inflation expectations big cycle (non-ferrous, resources, infrastructure, energy), high-end manufacturing big technology (new energy, computers, semiconductors, military), the economic recovery of large consumer (agriculture, liquor, CXO, testing), and so on.
Guangdao Securities Chief Investment Advisor Zhao Yurui, Practice Certificate No.: S0260614060014