[stock market recovery] the index of the two markets fluctuated slightly higher in the Prev index.

SMM2 18: the opening of the three major indexes up and down, after the opening of the index shock higher, the index rose 1%, on the disk, semiconductors, large aircraft plate pulled up. Near the end of the morning, the three major indexes collectively turned green, and then the index pulled up and turned red. In the afternoon, the three major indexes rebounded slightly, the deep index turned red, on the disk, semiconductors, radio and television stocks pulled up. Near the end of the day, the Prev index rose and turned red. On the whole, individual stocks rushed higher and fell back, and the market money-making effect fell back. On the whole, the two cities more or less stocks up and down, the number of families up to nearly 150, funds wait-and-see mood in general, the overall market atmosphere is still OK.

By the end of the day, the Shanghai index was up 0.05 per cent at 2984.97 points, up 0.05 per cent at 374.999 billion yuan, the Shenzhen Composite Index at 11306.49 points, up 0.58 per cent at 624.948 billion yuan, and the Sang Seng Index at 2170.95 points, up 1.15 per cent.

Plates and individual stocks

Zhongsheng Pharmaceutical Industry, essence Pharmaceutical, Huilong shares and so on once rose by the intraday limit, Baiyunshan, Kunming Pharmaceutical Group, Fu'an Pharmaceutical Industry opened high. On the news, Sun Yanrong, deputy director of the Biological Center of the Ministry of Science and Technology, said at the meeting that chloroquine phosphate is effective in the treatment of Xinguan virus.

Net inflow of major funds into the top 10 today

Abnormal review

The concept of large aircraft is high, aviation control, aviation technology, steel research Gaona, silver shares, new research shares collectively rose by the limit, AVIC Electronics rose more than 6%.

Pesticide stocks opened weaker, Changqing shares fell by the limit, Nopsin fell more than 8%, Jaben Chemical, Middle Farmer Lihua, Leer Chemical fell one after another.

Securities plate change pull up, Guojin Securities rose more than 5%, Guohai Securities, Jinlong shares, Southwest Securities, Northeast Securities and so on.

Internet celebrity economic plate pulled up strong, Guangzhou natural selection, Liang technology rose by the limit, Saturday, Yuanlong Yatu, three squirrels rose.

Semiconductor and component plate continued to pull up, Taiji shares rose by the limit, Starr semiconductors, Ruisheng micro before the seal, torch electronics, Broadcom integration, Dagang shares, crystal square technology and so on.

Domestic software plate pulled up, Chinese software rose by the limit, Wanda information rose 7%, oriental Guoxin, oriental network power, Jiafa education and so on.

Rare earth permanent magnet plate pulled up strong, Dehong shares, Huawu shares straight-line seal, Hengdian Dongji, Hongda Xingye once rose, Jinli permanent magnet, Guangsheng non-ferrous and so on.

Fluorine chemical plate change pull up, Zhongxin fluorine material straight up, Jacques science and technology rose 5%, chlor-alkali chemical industry, polyfluorine, Sanaifu and so on.

Communication service plate change, Gohua cable touchpad, Hubei radio and television up 7%, will be smooth communications, radio and television network, Tianwei video and so on.

Cloud office plate continued to pull up at the end of the day, Huaping shares rose by more than 8%, Qixin Group, 263, Beixinyuan, 355 Interconnection and so on.

Message surface

[national Health Commission: 1886 new confirmed cases of coronavirus]

From 0 to 24:00 on February 17, 31 provinces (autonomous regions, municipalities directly under the Central Government) and the Xinjiang production and Construction Corps reported 1886 new confirmed cases, 1097 new severe cases, 98 new deaths (93 in Hubei, 3 in Henan, 1 in Hebei and 1 in Hunan). There were 1432 new suspected cases. (national Health Commission)

[FTSE Russell: the A-share expansion arrangement will be announced in the early morning of the 22nd Beijing time]

The reporter learned from FTSE Russell on the evening of February 17 that FTSE Russell will announce the first phase of the third batch of A shares after the close of trading in New York on February 21, that is, after 5 am Beijing time on February 22 (Saturday). According to the previous announcement, after the implementation of the inclusion arrangement, the proportion of A shares included in FTSE Russell will be increased from 15% to 25%. The expansion will take effect after the close of trading on March 20.

[Li Lihui, head of the working Group on Block chain of Mutual funds Association: preventing and controlling the epidemic situation or speeding up the issuance of Digital currency]

In an exclusive interview with China Daily, Li Lihui, head of the block chain working group of the China Internet Finance Association and former president of the Bank of China, said that in the current situation of preventing and controlling the epidemic, it should be possible to speed up the issuance of digital currency. "however, China's modern emerging electronic payment platform has become very mature, and WeChat payment and Alipay have ranked first and second on the global online payment platform," he continued. "the development prospects of digital currency used in retail business scenarios will depend to a certain extent on the choice of the market, as well as on the efficiency, cost and convenience of the digital currency. And the scale of the economy of commercial value as a result. "

Institutional point of view

Haitong Securities said that the pattern of the bull market remained unchanged throughout the year, but the rhythm changed, and the market still needed time to digest the short-term impact of bearishness on fundamentals, and to strengthen confidence while maintaining patience. The market is still in a consolidation period, similar to the period from early August to early December 2019. In the context of easy liquidity, the market will have a structural market, this round of structural market will be dominated by science and technology.

Tianfeng Securities: 2020 is the starting Point for the Diffusion of Science and Technology Stock demeanor

Tianfeng Securities strategy team said that in the past few years, small and medium-sized companies in the technology sector have had little opportunity, the entire industry cycle is in a downward phase, while financing and M & A policies have shrunk, causing performance to collapse. Even if there are good companies in the technology sector, it is basically a small number of leading white horses.

In 2020, under the background of the overall resonance of the global technology industry cycle, combined with the relaxation of the policy end, large probability small and medium-sized companies can also enjoy the dividends of industry and policy in this process. The industry of science and technology plate is not only the leading company performance is good, small and medium-sized companies may also appear significant improvement, prosperity probability diffusion, may be one of the most important keywords in 2020. In addition, the current market environment is that "excess liquidity has boosted risk appetite", and short-term sentiment is likely to reflect more of the benefits for small and medium-sized stocks and brokerages.

The team pointed out that, given that it will take some time to prepare from the relaxation of policy to the landing of the IPO, I step by step predict that the size of the private placement in 2020 may be around 1-1.2 trillion. In this case, there is no doubt that the stock supply in the market has increased, forming a certain pumping effect. Combined with the overall calculation of the capital side, the overall judgment in 2020 is still a structural market, or a bull market for "a small number of companies". But the bull market drivers of "a small number of companies" are already switching (from consumer valuations to the technology industry cycle), and at the same time, a small number of technology stocks in a small number of companies will also spread within the industry.

Huatai Securities: in terms of epidemic situation, non-Hubei newly diagnosed for 13 days, three kinds of antiviral yao accelerated clinical trials, special immunity plasma helps to improve the cure rate, 15 minutes test kit helps to improve the diagnosis rate. As for the return trip, according to the Huatai Transportation Group, as of February 15, the national post-festival return rate was about 30.2%, and the Ministry of Transport estimated that there were still 220 million migrant workers waiting to return. In terms of resumption of work, epidemic prevention materials and basic protection industries have returned to work early and the rate of return to work is high, and construction enterprises are constrained by employment, materials, and transportation, and there is still room for improvement in the rate of resumption of work. All localities have been promoted in the order of "key livelihood of capital construction, resettlement houses, general livelihood, real estate, and other projects." The political Bureau of the CPC Central Committee called for overall planning for epidemic prevention and control and economic development, and a number of ministries and commissions issued policies to support resumption of work and production. Continue to pay attention to return to work whether the local recurrence of the epidemic.

Guojin Securities said that from the market style, historically in February A shares to TM technology growth market style. On the investment strategy, the team said that at the current point in time, maintaining the view that "counter-cyclical policy will repair investor pessimism, technology as the main line of allocation". Focus on two main lines of investment: one is to dig deep into the main line of mapping and allocation of US stocks under emerging industries, such as "Apple industry chain, electric vehicle industry chain, cloud game, security controllable", and so on; the other is to benefit from the brokerage plate, which is gradually active in the primary and secondary markets.

Everbright Securities: the market will face the test of economic data from March, it is appropriate to continue to hold positions patiently.

Everbright Securities strategy team pointed out that the market continued to rise, although the "data strong" was hit, but the "policy loose" was further strengthened. Recently, the market liquidity is good, the central bank net investment is positive and DR007 fell to a half-year low. Looking back, the implied growth rate of the market valuation has been repaired to a reasonable level of about 5%, and the coal consumption of power groups shows that work is going on, but the return rate of the Spring Festival is still low, and it is impossible to rule out the twists and turns of the improved epidemic situation. Short-term liquidity is expected to remain abundant, but we need to pay attention to the constraints of inflationary pressures. It is not recommended that short-term trading funds excessive game, it is appropriate to continue to hold positions patiently, for long-term funds can still continue to buy. The market will face the test of economic data from March, so it is necessary to pay more attention to the direction and intensity of policy counter-cyclical adjustment in the later stage. Infrastructure power and stabilizing household consumption may be an important starting point. Compared with the draft, the new refinancing policy mainly raised the limit on the proportion of non-public offering shares from 20% to 30%, and relaxed the time point of "new and old cut off", and the flexibility of fixed increase fund raising was significantly increased. The overall revision is beneficial to small and medium-sized start-ups. Shortening the lock period and modifying the issue price mechanism can enhance the enthusiasm of participants and the success rate of the project, and lower the threshold for non-public issuance of gem to benefit unprofitable enterprises. However, we should pay attention to the possible increase and decrease of the pressure of fixed increase and decrease in the later stage.

In terms of configuration, the team recommends that in addition to continuing to focus on basically good-looking industries, attention should also be paid to the resumption of industrial production and the repair of pessimistic expectations by counter-cyclical adjustments. In terms of consumption, although the epidemic situation has obviously improved, it is still possible to repeat it over and over again. The occurrence of a major epidemic will bring a surge in demand for equipment and drugs directly related to prevention, diagnosis and treatment, and an increase in the number of patients and treatments will also lead to an increase in demand for other pharmaceutical products. We can still pay attention to the structural opportunities of medicine, and the overall rise of the Internet economy in the field of consumption will help reduce the impact of isolation on daily consumption to a certain extent. It is suggested that we should continue to pay attention to online consumption; In addition, continue to be bullish on the TMT industry, although online cloud office and other industries are mainly in the short-term revenue epidemic, but it believes that this may represent a medium-and long-term opportunity for contactless economic development.

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