SMM5 March 27: the morning index opened slightly higher, followed by a weak consolidation of the three major indexes. On the market, home appliances, home decoration, aviation, food processing concept stocks slightly stronger, semiconductor sector significantly weaker, bank stocks slightly pull up but the driving effect on the index is limited. On the whole, the market pullback in early trading, the money-making effect is better, the capital flows quickly, and the rotation of the plate is accelerated. Near midday, the morning index opened slightly higher after a weak consolidation, and then recovered after a rapid decline. On the disk, the dairy plate is gradually active, and yesterday's relatively strong biosafety began to differentiate. In addition, the semiconductor plate also continued to weaken. There was no absolute hot spot in the market outside the furniture and home decoration plate, and the market warmed up slightly after the rapid decline. But the money-making effect continues to decline, and the wait-and-see mood of funds remains the same. As of press time, the Prev Index was at 2845.01 points, down 0.05%; the Shenzhen Composite Index was at 10761.25 points, down 0.5%; and the Chuangshi Index was at 2092.58 points, down 0.96%.

Review of changes

The concept of gold opened weaker, with Oriental Jinyu, Chifeng Gold and Shandong Gold falling more than 2%, while Yintai Gold and Hengbang shares fell.

Household light industry plate pulled up stronger, Daya Elephant, HUIDA bathroom rose by the limit, Dream Lily rose more than 3%, Lege shares, Fillinger and so on rose.

Bank shares rose, Hangzhou Bank rose 3%, Nanjing Bank, Guiyang Bank, Industrial Bank rose slightly.

Semiconductors and components continued to decline, Sheng Bang shares fell 6%, Jet Micropower, Jingfang Technology, Tonfu Micropower and so on have weakened.

Agricultural planting plate changed to pull up, fragrant pear shares, Wanghui Denong, Honghui fruits and vegetables rose more than 3%, new farmers development, black sesame and so on rose.

Agricultural planting plate pulled up strong, Wanxiande agricultural limit, fragrant pear shares, Shennong science and technology, Jinjian rice industry have followed up.

Photoresist plate abnormal pull up, Fujing science and technology rose 7%, Zhangjiang high-tech rose 6%, NTU optoelectronics, Anji technology, Rongda photosensitive and so on.

The dairy sector continued to rise, Cody Dairy rose by the daily limit, New Dairy rose 9%, and Sanyuan shares and Tianrun Dairy followed.

Message surface

[national Bureau of Statistics: profits of large-scale industrial enterprises across the country fell by 27.4% from January to April]

The National Bureau of Statistics announced that from January to April, the total profits of industrial enterprises above the national scale reached 1.25979 trillion yuan, down 27.4 percent from the same period last year, or 9.3 percentage points lower than in January-March.

[Tesla: the price of all models for sale in North America will be reduced at the same time as imported models in the mainland market]

Tesla announced on the 27th that it will reduce the prices of all models on sale in North America, while in the mainland Chinese market, Model S and Model X, as imported models, will also cut their base prices at the same time. The adjusted amount will be reduced by 29000 yuan, and the principle of charging according to use shall be implemented at the same time.

[bancassurance Regulatory Commission: projects with state-oriented risk investment will give policy support in terms of scope and proportion]

The person in charge of the relevant departments of the Bancassurance Regulatory Commission said that in the next step, the Bancassurance Regulatory Commission will strengthen policy guidance, support the advantages of long term and stable sources of insurance funds, and serve the high-quality development of the economy. The first is to strengthen long-term financing support for enterprises to resume work and production. The second is to promote the market-oriented reform in the use of insurance funds. Strengthen policy guidance and give policy support to state-oriented investment projects in terms of investment scope and investment proportion. The third is to increase services to private and small and micro enterprises. Fourth, support insurance funds to invest in health, pension and other social services.

Institutional point of view

Looking to the future, Galaxy Securities said that the short-term A-share market will show a volatile upward trend. Some industries and indices will be highly resilient.

Northeast Securities pointed out that A shares are still dominated by concussion pattern, structural market and repeated rotation. In operation, they are not sad or happy, and tend to cover some positions when they fall sharply, and sell some moderately if the short-term index rebounds above the 20-day moving average.

Guosheng Securities pointed out that the market volume can still maintain a low level, the future may still be dominated by shocks. In operation, it is still invested from the perspective of valuation in the short term, and the plate with low valuation has a higher margin of safety, which is worth paying attention to. 1. Real estate: the margin of safety of valuation is about 30%, which is seriously undervalued, and there are signs of marginal relaxation of policy, which is worth paying attention to; 2. Insurance: the latest PEV of the industry is 0.88, which is extremely low in history, which is worth paying attention to; 3. Brokers: the margin of security of valuation is very high, more than 20%, which is worth paying attention to; 4. The difference between the current dividend yield of airports, highways, electric power, railway transport and ports with high dividend yield and the ten-year treasury bond yield is about 2.38%, which is high relative to the historical level, which is worth paying attention to.

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