The index fluctuated higher throughout the day, individual stocks rose more than 100 stocks, rose more than 9%, the short-term mood picked up, the overall moneymaking effect of the market improved, and stocks fell by the limit were dominated by performance thunder. On the plate, the market differentiation is relatively serious, and the capital mainly speculates around the registration system. C Akita Micro's share price doubled and spread from gem to Science and Technology Innovation Board and the main board. in addition, the concept of degradable plastics rose sharply, with 6 stocks up more than 9%. Silver, banks, coal and other plates pulled up. On the whole, the early varieties continue to adjust, patiently waiting for the market to stabilize. On the disk, the registration system is new, biodegradable plastic, coal and other plates led the increase, while cloud games, airport shipping, HIT batteries and other plates led the decline.
As of the close, the Prev index rose 0.64% to close at 3505 points, the Shenzhen Composite Index rose 1.36% to close at 15024 points, and the gem index rose 0.99% to close at 3159 points. Shanghai shares have a net inflow of 2.847 billion, while Shenzhen stocks have a net inflow of 613 million.
Citic Securities said that the central bank's short-term regulation of liquidity does not mean a comprehensive shift, and the market has overreacted. Domestic monetary policy does not have the conditions for a comprehensive shift in the first quarter, and the central bank is expected to make a trillion-level net investment in early February. Market expectations are expected to be repaired quickly. The market liquidity is still abundant. After the public offering hit a new high in January, it is expected that the amount raised in February will still exceed 200 billion yuan. The scale of funds waiting for the institutions to enter the market is large, and the southward capital diversion is relatively small. In February, A shares were still in the second half of the slow rally driven by steady capital inflows. In terms of configuration, it is suggested that we should pay close attention to the two main lines of "five major safety" and performance exceeding expectations. In the "five major safety", we should pay attention to the varieties that are still cost-effective at present, including semiconductor equipment, Xinchuang, rare earths, military industry, feed and seeds, etc.; in terms of performance exceeding expectations and flexibility of the quarterly report, we should pay attention to the leading varieties of the main line of subdivision of each major plate. In addition, it is proposed to continue to increase the preference of mainland institutions in Hong Kong stocks and the valuation of the "depression" two main lines, focusing on Internet leaders, telecom operators and online education.
Haitong Securities believes that from the valuation, asset parity of large categories, trading indicators, the overall heat of the current market is close to 70 degrees. In the sub-industry, the comprehensive heat of liquor, automobile, electrical equipment and so on is on the high side, while that of real estate, architectural decoration and media is on the low side. A-share spring market is still on the way, short-term attention to stagflation undervalued industry, the whole year optimistic about technology + mass consumption.
Citic Construction Investment Securities pointed out that from the current situation, CITIC Construction Investment Securities believes that the first narrow fluctuation has begun, and the market has entered the fluctuation mode of "retreating two into one". Therefore, the first timing will be made after February 15, 2019: investors are advised to reduce their overall positions to neutral positions to maintain a balance between risks and returns. From the perspective of the short-term market, the A-share market and the Hong Kong stock market have entered fluctuations, so investors are advised to control their positions and pay attention to risks. The industries with high valuations in the early stage are still quite vulnerable, so it is suggested that investors should gradually reduce their allocation moderately. Stock ownership is not recommended for the holiday in 2021. After the Spring Festival, wait for the market to enter a clear state before choosing an opportunity to increase its holdings. It is suggested that investors configure industries along the direction of economic transformation and upgrading: first, there will be more significant opportunities in manufacturing and manufacturing-related upstream industries in 2021; second, with the rebound of manufacturing, new cycle industries such as new materials and new energy have bullwhip effect; third, the consumer industry is booming, but high valuation will reduce excess returns.
