The three major A-share indexes all closed down. Gem fell more than 3%. All sectors fell. [stock market closed]

The market fluctuated lower throughout the day, the Prev lost the 3400-point integer mark, and the gem index fell more than 3%. On the market, all plates fell, banks, novel coronavirus treatment and other plates fell less. Among them, novel coronavirus treatment plate changed in the afternoon to pull up. In terms of decline, subject stocks fell in the digital economy-related sectors led the decline. On the whole, today's stocks fell more than rose less, less than 300 stocks rose in the two markets, more than 4300 stocks fell, and more than 100 stocks fell by the limit and fell by more than 10%. Today, individual stocks rose by a median of-3.1%. Today's turnover on the Shanghai and Shenzhen stock markets is 822.9 billion, 28.7 billion higher than that of the previous trading day. Plate, no plate rose, digital currency, precious metals, tourism, network security, domestic software and other plates led the decline. By the close, the Prev index was down 1.78%, the Shenzhen index was down 2.77%, and the gem index was down 3.25%. Northbound funds sold a net of 14.624 billion yuan today, of which Shanghai shares sold 7.724 billion and Shenzhen stocks sold 6.9 billion.

For the future market trend, institutions have expressed their views.

Northeast Securities said that after the market stabilized and rebounded, the early oversell and the improvement of fundamentals generally dominated the performance of the industry. After New Year's Day's continuous adjustment, the A-share market ushered in a reversal today, the index has strengthened, and the follow-up performance of the market is expected to stabilize. At present, the follow-up of this round can focus on the media (virtual people, games), computers, agriculture and aquaculture with dominant fundamentals under the expected improvement, new and old infrastructure and mass consumption (hotels, tourism, catering) under the catalysis of policies, as well as new energy, pharmaceuticals and other sub-sectors that have more declines in the earlier period, such as new energy and pharmaceuticals, which are highly valued and digested significantly.

Huafu Securities said that this month, due to the approach of the Spring Festival holiday, the uncertainty of external monetary policies and the superposition of geopolitical frictions, even if various domestic "stable growth" policies are being launched one after another in an orderly manner, most investors still choose to sell to avoid risk, leading to "squatting" in the market. However, with the advent of the Spring Festival, the pressure is obviously weakening, especially the "new half army" who used to be in a high position has gone from falling deeply and stabilizing to the stage of rebound. Therefore, we have reason to believe that with the lifting of short-term risk aversion pressure and medium-and long-term policy strength is expected to hit the ground, A shares may usher in a phased rebound after cautious sentiment digestion. With regard to the future, the maintenance of the original verdict continues to suggest that we should stick to the main line of "steady growth", look for high-quality targets that have been mistakenly killed with "low valuation +" as the core, and build positions at bargains to welcome the Spring Festival.

Zhongtai Securities said that we estimate that the year-on-year negative growth of steel demand reached 20% in November 2021 (calculated by production adjusted by inventory), and the stable growth policy is expected to lead to a phased rebound in steel demand growth. and promote the steel industry chain prices to continue the overfall rebound since the end of 2021, the trading window is mainly in the first half of the year. From the point of view of the supply side, there is a great uncertainty in iron and steel administrative production restrictions after the first quarter, so it is the background of demand repair, iron ore elasticity may be better, we can pay attention to iron ore companies Hegang Resources and large and medium Mining in the first half of the year. From a longer time perspective, after the steady growth pulse in spring, demand is likely to weaken again, this real estate downward cycle still needs to be completed in terms of time and amplitude, and pay attention to the risk of industry pullback in the second half of the year. In the long run, the concentration of the general steel industry shows an upward trend, and the shares of Baosteel, the industry leader, benefit from the long-term rise of the bargaining power of the industry.