SMM4 15: the index rose and fell in early trading, the index is more strong than the Prev index, the market pattern is more divided. On the disk, the pharmaceutical plate strong rushed higher, the digital currency plate rose and fell back. Near midday, the index weakened in the short term, the Prev index fell more, and the index fell sharply. On the disk, the pharmaceutical plate rose and fell, technology stocks ready to move, the agricultural plate strengthened significantly. In the afternoon, the index weakened one after another, the deep index turned green, and the index gain narrowed. On the disk, the fuel cell, brokerage plate changes slightly. At the end of the day, the three major indexes turned green one after another after the weak consolidation. The pharmaceutical plate continued to strengthen, the morning high digital currency and other plates have fallen back one after another. On the whole, the market sentiment turned cold again, the market is more willing to do long, and the fried board rate is higher again.
By the close of trading, the Shanghai index was at 2811.17 points, down 0.57 per cent, with a turnover of 231.6 billion yuan; the Shencheng Index was at 10417.37 points, down 0.56 per cent, with a turnover of 409.4 billion yuan; and the Chuang Index was at 1977.51 points, down 0.40 per cent, with a turnover of 192.5 billion yuan.
Plates and individual stocks
At a recent news conference on the joint prevention and control mechanism of the State Council, Wu Yuanbin, director of the Department of Science and Technology for Social Development of the Ministry of Science and Technology, said that since the outbreak of Xinguan pneumonia, in order to further improve the success rate of vaccine research and development, the scientific research and research team has laid out five technical routes for vaccine research and development. Essence Pharmaceutical, Xiangxue Pharmaceutical, Yiming Pharmaceutical, Dali Pharmaceutical, Red Sun Pharmaceutical, Yiling Pharmaceutical, Shanghai Kaibao and other stocks rose.
Net inflow of major funds into the top 10 today
Abnormal review
The concept of digital currency is high, Huijin shares, Julong shares, Omar Appliances, flying integrity, Gao Weida opening collective limit.
Flu concept pulled up higher, Zhendong Pharmaceutical, Yiling Pharmaceutical rose by the limit, Chinese medicine shares touch plate, Da'an Gene, Xiangxue Pharmaceutical rose.
The concept of liquor rose slightly, Gujing Gong Liquor, Shanxi Fenjiu rose 3%, Guizhou Maotai, Luzhou laojiao, Shunxin agriculture rose.
Semiconductor and component plate continued to pull up, Huatian technology rose more than 6%, Weir shares, Pengding holding, northern Huachuang, Zhaoyi innovation and so on.
Airport shipping plate strengthened, Huaxia Airlines pulled up the limit, auspicious Airlines, Spring and Autumn Airlines, Air China and so on.
Agricultural planting plate rebounded and pulled up, the sea seed industry rose by the limit, Wanxiang de Nong, Da Bei Nong, Fengle seed industry rose.
UHV plate in the afternoon pull up, China West Power, Tongda shares rose sharply, optical cable, protect change electric, McAudi, Pinggao electric and so on.
Securities plate change pull up, Citic Construction Investment, Huaxin shares rose 3%, Oriental Securities, founder Securities, Guotai Junan and so on.
Fuel cell plate change, Dewei new material rose to the limit, Houpu shares, all firewood power to follow the rise.
Message surface
[central bank carries out one-year MLF operation 100 billion yuan operating interest rate falls]
Starting from April 15, 2020, the people's Bank of China has targeted to reduce the deposit reserve ratio by 1 percentage point for rural financial institutions and city commercial banks operating only in provincial administrative areas, with a reduction of 0.5 percentage point each time. About 200 billion yuan of long-term funds were released today for the first time to adjust the required reserve ratio for the implementation of the policy. At the same time, the people's Bank of China carried out medium-term lending to facilitate (MLF) operation 100 billion yuan. Reverse repurchase operations will not be carried out today.
[soda ash industry association: enterprises reduce load production by 30% and reduce soda ash and ammonium chloride production]
The China Soda Industry Association recently issued a notice on production restrictions in the soda ash industry. The circular pointed out: according to the current situation of the industry, in accordance with the general tone of the work of the CPC Central Committee in adhering to stability and striving for progress, while unremittingly grasping the prevention and control of the epidemic situation, in order to stabilize the economic operation of the industry and reduce the waste of resources, the China Soda Industry Association requires soda ash production enterprises to reduce their soda ash production capacity by 30 percent from April 18, 2020 to October 18, 2020. Reduce the output of soda ash and ammonium chloride, reduce inventory, promote the clearance of excess capacity, solve the imbalance between supply and demand, make the economic operation of the industry return to stability, and promote the development of the industry to high quality.
["Qiushi" publishes General Secretary Xi Jinping's important article "Unity and Cooperation is the most powerful weapon for the International Community to overcome the epidemic"]
The article emphasizes that mankind is a community with a shared future. Unity and cooperation is the most powerful weapon to overcome the epidemic that has a bearing on the safety of the people of all countries. At present, the epidemic of Xinguan pneumonia is spreading all over the world, which poses a great threat to people's life and health, and brings great challenges to global public health security. What the international community needs most is to strengthen confidence, work together, respond in solidarity, strengthen international cooperation in an all-round way, and join hands to win this human struggle against major infectious diseases. As long as we are in the same boat and help each other, we will certainly be able to completely overcome the epidemic and usher in a better tomorrow for human development!
[close to regulators: has been pushing ahead with digital currency-related work]
A few days ago, it was reported that the central bank digital currency in the Agricultural Bank of China, Shenzhen, Xiongan, Chengdu, Suzhou as pilot cities. Digital currency concept stocks strengthened after the start of trading on April 15. A person close to the regulator told reporters that market reporting does not represent the official, the relevant work has been done, can pay attention to the official propaganda caliber of the central bank, but to what extent, there is no official statement.
[Tesla registered 12709 vehicles in China in March, 2314 in February]
Auto industry market forecaster LMC: registered 12709 vehicles in China in March, up from 2314 in February. (interface News)
Institutional point of view
Citic Construction said that Tuesday's rebound can only be counted as an overshoot rebound, whether it can continue to observe the cooperation of quantity and energy and the emergence of hot spots. The short-term pressure on the Prev index is in the 2850 line. In operation, it is recommended to maintain cautious optimism, position control in the upper and lower half of the warehouse, short-term recommendations to continue to pay attention to the main line of performance, focusing on such as new energy vehicles, over-falling technology leaders, continuous price increases and so on.
Guosheng Securities believes that the phased bottom near 2750 points has been touched many times and has been widely recognized by the market. Every time we go to this position, there will always be funds actively copying the bottom. At the same time, the net inflow of foreign capital will also be substantial, and the volume can be relatively significantly magnified. Internal and external funds resonate with the market and are expected to continue the rebound trend. With the disclosure of economic data in the first quarter and the stabilization of the overseas epidemic, a relatively comprehensive and objective assessment of the impact of the epidemic on the domestic economy is possible, the policy tone is expected to be clearer and more positive, the measures will be stronger, and investors' previous concerns will fall to the ground, so the inflection point at the bottom of the market is expected to be confirmed after the landing of various economic data this week.
Pacific Securities Strategy Research said that the current market opportunities in domestic demand, configuration to avoid the impact of external demand plate, such as food and beverage, household appliances, cars and other consumer white horse stocks (foreign capital return, potential consumption stimulus policy), construction, machinery, real estate leaders (low valuation, stable employment, steady growth), banks, brokerages (low valuation, upward business cycle). In addition, medium-term growth technology is still the main line of allocation in 2020, focusing on "new infrastructure" led by domestic demand, such as 5G infrastructure, electrical equipment, and new energy vehicles.
Zhongyuan Securities said that at present, the market is still facing the release of macroeconomic data, the centralized release of the annual report, as well as the continued spread of outbreaks and other uncertain factors, the Prev Index is more likely to continue to maintain the range shock in the future. It is suggested that investors should continue to pay attention to the changes of influencing factors at home and abroad. It is expected that the Prev short-term small collation may be larger, the gem market short-term small shock may be greater. Investors are advised to wait and see for the short term, while the middle line suggests that we continue to pay attention to some investment opportunities for undervalued blue chips.
Northeast Securities believes that the second quarter market trend for the continuation of shock rest. In terms of profitability, it is expected from top to bottom that the profit growth rate of A-share non-financial enterprises in 2020 will be about 4%, down from 8% at the end of 2019, and the growth rate of small and medium-sized profits may also be reduced, but it is still relatively dominant. In terms of liquidity, under the pressure of global deflation, monetary policy tends to be loose and the macro capital surface remains abundant; the micro capital surface in the second quarter may be tighter than in the first quarter, mainly manifested in the decline in the inflow end and the maintenance of a high level in the outflow end. In terms of risk preference, the current valuation is basically the same as on February 3, and most industries are lower than the historical average. Equity risk premium shows that A shares have obvious allocation advantages over treasury bonds, and the position of individual stocks is on the neutral and low level.
"Click to sign up:" 2020 (Fifth) China International Nickel Cobalt Lithium Summit Forum "
To sign up for the Nickel Cobalt Lithium Summit or apply to enter the industry exchange group, please scan the code:
For queries, please contact Michael Jiang at michaeljiang@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn