Disc Observation
As of the close, the Shanghai index reported 3312.16 points, down 0.24%, turnover of 325.5 billion yuan; SZCI reported 13838.42 points, down 0.4%, turnover of 553 billion yuan; GenPoint reported 2733.07 points, down 1.97%, turnover of 256 billion yuan. From the disk, ports, photoresists, semiconductors at the top of the list of plate gainers, medical equipment, photovoltaic, charging piles at the top of the list of plate losers.
Market outlook
Northbound funds net inflow of 625 million yuan, Shanghai Stock Connect net inflow of 1.788 billion yuan, Shenzhen Stock Connect net outflow of 1.163 billion yuan, and today's market performance is fully consistent. Northbound fund flows from October began to reverse, a net inflow of 0.23 billion yuan in October, compared with a net outflow of 32.773 billion yuan in September rebounded. From the flow of funds to reflect today's decline in small-cap stocks, the main reason is affected by the medical device set procurement policy, the medical device industry has seen a sharp adjustment. Ten thousand of the more heart stent collective procurement price as long as more than 700, the price drop greatly exceeded the market expectations. After the coronary stent, the market is expected to more high-priced medical consumables into the scope of the collection, some places have been explored. And there is a regional expansion, volume purchasing varieties continue to increase as a trend. For example, Anhui Province, the second batch of high-value medical consumables orthopedic joints, cardiac pacemakers centralized volume purchasing has been completed, of which orthopedic joints 240 products with an average reduction of 81.97%, cardiac pacemakers 82 products with an average reduction of 46.75%.
Short-term will still have an impact on the market, and long-term will further promote the substitution process of domestic high-value consumables. Short-term collection price cuts have an impact on corporate earnings, but the long-term look is the innovation and growth of the enterprise, will accelerate the efficiency of the segmentation, shorten the market promotion cycle of innovative products. Those product system is rich, innovation excellence, strong technical strength of the segment of domestic device leader, but is a good thing.
Operating strategy
After the end of the three-quarterly report, the market entered the valuation window period, but also the policy window period, low valuation of pro-cyclical large blue chips became the focus of the current capital attention, but also next year's layout of the focus. Chief investment adviser Wen Fu, practice certificate No.: S0260611050006