SMM5 11: the three major indexes opened high in early trading, followed by a slight differentiation of the size index. On the disk, Huawei car concept is relatively strong, MINILED plate led the rise, cement, agriculture plate has pulled up. Overall, the morning market sentiment is more positive, long sentiment is high. Near noon, the three major indexes opened high in early trading, and the size index was significantly differentiated. Gem green decline led to a cooling of market sentiment, Prev index, Shenzhen Composite Index has narrowed the rate of gains. On the disk, cement stocks, MINILED continued a strong momentum, the military plate came from behind, the car, liquor plate performance bright, Xinjiang plate near noon change. On the whole, the market differentiation is more obvious, the continuity of the plate is general. In the afternoon, all three indexes turned green, with the index down more than 1%. On the plate, the pork plate continues to weaken, pharmaceutical ecommerce, ST plate performance weak consolidation, the morning high liquor plate fell back sharply. At the end of the day, the index was weak and consolidated. On the disk, the epidemic prevention and control concept has strengthened, Internet celebrity economy, REITs plate anti-pumping. The money-making effect is getting worse and worse, and the mood of capital wait-and-see is getting stronger and stronger.
By the end of the day, the Prev index closed at 2894.80 points, down 0.02%, with a turnover of 271.9 billion yuan; the Shenzhen Composite Index reported 10969.28 points, down 0.29%, with a turnover of 412.8 billion yuan; and the pioneering index reported 2102.83 points, down 1.05%, with a turnover of 133.2 billion yuan.
Plates and individual stocks
Behind the strong performance of the cement plate is the trend of price increase under the background of the improvement of supply and demand pattern. According to the latest news from the China cement Network Market Center, recently, some leading enterprises in northeast Jiangxi have begun to notify an increase of 20 yuan / ton for various varieties of cement; cement prices in Northwest, Southwest and East China have also risen to varying degrees, with an increase of 10-30 yuan per ton. Jinyuan shares, Tianshan shares, Qingsong Jianhua, Fujian cement, Huaxin cement, Shangfeng cement and other stocks have pulled up one after another.
The main capital inflow into the top 10 today
Abnormal review
MINILED plate high open, Jufei Optoelectronics, core Ruida, dry photo photoelectric limit, Liad, Ruifeng Optoelectronics and so on.
Agricultural planting plate pulled up in early trading, new agricultural development limit, Xisai shares, Dabei Nong, Yasheng Group, Honghui fruits and vegetables have followed up.
Cement plate pulled up and strengthened, Jinyuan shares rose more than 6%, Tianshan shares, Shangfeng cement, Fujian cement, Qingsong Jianhua and so on.
White wine concept pulled up, this world rose 5%, Gujing Gong wine up 4%, Yilite, Luzhou laojiao, Wuliangye and so on.
The concept of auto parts continues to rise, today Fei Kaida, Feilong shares, Weidi shares and other shares have risen, Ningbo Huaxiang, Suao sensors and so on.
Photoresist plate pull up strong, Rongda photosensitive limit, Tongyi shares, NTU Optoelectronics, Jacques science and technology, strong new materials and so on.
Pork plate continued to weaken, Xiangjia shares opened up the limit, Aonong biological, Zhengbang technology, new hope, Tianbang shares fell more than 4%.
The national defense military industry plate pulled up in a straight line, Jianglong boats rose by the limit, Chinese soldiers red arrow rose by more than 5%, Tianjian science and technology, China Science and Technology, navigation technology, sub-star anchor chain and so on.
REITS plate straight up, HNA investment board, the world United Bank, Nanshan Holdings, Everbright Garbo and other small increases.
Internet celebrities economic plate changes, Saturday pull up the limit, the world show, Tianchuang fashion, gravity media and so on.
Message surface
[MSCI will publish the results of the semi-annual index review]
This week, MSCI will release the results of its May 2020 semi-annual index review on May 12, local time. The MSCI review is only an adjustment, and there will be no major changes and expansion, which has little impact on the overall level of funds, but has a greater impact on individual stocks. According to the timetable previously announced on the official website, FTSE Russell will release the results of the semi-annual index review on May 22 local time, and the changes will take effect before the opening of trading on June 22.
[China Automobile Association: passenger car sales in China fell 2.6% in April compared with the same period last year]
China Automobile Association: China sold 1.54 million passenger cars in April, down 2.6 per cent from a year earlier. Car sales rose 4.4% in April from a year earlier. Sales of new energy vehicles in China fell 43.4 per cent in January-April from a year earlier. Sales of new energy vehicles fell 26.5% in April from a year earlier.
[Ziguang Zhanrui 5 billion yuan capital increase has become the first investment project in Phase 2 of the large Fund]
May 11, it is reported that Ziguang Zhanrui equity restructuring project has been completed a few days ago, 5 billion yuan capital increase has arrived, Ziguang Zhanrui has also confirmed that the main body of the listing is Ziguang Zhanrui (Shanghai) Technology Co., Ltd. Specifically, the National Integrated Circuit Industry Investment Fund (Phase 2), the Shanghai Integrated Circuit Industry Investment Fund, and the Zhuji famous Quanying Investment Management Partnership (Limited Partnership) have increased their capital by 2.25 billion yuan, 2.25 billion yuan and 500 million yuan, respectively. As a result, Ziguang Zhanrui has also become the first investment project in the second phase of the big fund.
[the first wholly foreign-owned public offering in China will be born]
On May 9, according to the pre-disclosure information listed on the graded Shanghai United property Exchange, Shanghai International Trust Co., Ltd. will transfer a 49% stake in Morgan Fund Company. Its asset management company Morgan Asset Management Xuan will intend to acquire a stake in Shanghai Investment Morgan Fund to 100%. If the transaction is completed, Shanghai Investment Morgan Fund Co., Ltd. will become the first wholly foreign-owned public offering fund company in China.
Institutional point of view
Citic Securities said that from the relative valuation point of view, A shares relative to the major global markets, the overall valuation depression is still many, the downward risk is limited, and there is more room for upward revaluation. The external disturbance factors in May are limited, so it is more important to grasp the time window of the rise in May, and there is no need to pay too much attention to the speed and space. Citic Securities still believes that May is the best investment window in the second quarter of this year, and the pace tends to rise slowly, and the configuration still recommends taking new and old infrastructure and related technology leaders (5G, cloud computing, new energy vehicles, etc.) as the main line. at the same time, it is suggested to gradually lay out the high-quality stagflation plate suppressed by the epidemic.
Societe Generale Securities: grasp the late window period of the "two sessions", blue chips set up the stage + grow up to sing the opera.
The market dances with the policy spring breeze and revolves around the center of "domestic demand." in the three trading days last week, the Shanghai and Shenzhen 300 rose 1%, and the growth of communications, computers, and electronics achieved an increase of about 4%. The perfect interpretation of the "blue chip set up the stage, growth singing" market. After experiencing the extremely unusual and unprecedented situation in the first quarter, the domestic demand economy is gradually climbing for the better, and the European and American economies are showing signs of recovery; liquidity is as loose as ever, and interest rates are falling, which is an important support for the incremental capital of the stock market; the gem registration system, the new third board innovation layer, the liberalization of QFII quota and other reforms, enhance the market risk preference, continue to be optimistic about the market, and grasp the late "two sessions" window period.
Around the center of "domestic demand", blue chips set up the stage + grow up to sing the opera. 1) the performance is stable, the valuation bottom area, the foreign capital outflow turns to the inflow core asset blue chip direction. 2) securities firms that have benefited from falling interest rates, policy reforms, and improved business; 3) "science and technology infrastructure" areas related to 5G, semiconductor chain, 5G application cloud, media games, media video, and so on.
Anxin Securities: grasp the general trend of "recovery bull"
Anxin Securities believes that in the coming months, the core of A shares is not to accurately grasp small fluctuations, but to ensure that the "recovery cow" of the general trend. The end of the "two sessions" will not be the end of the "recovery cow".
The current round of recovery is led by the new economic industry, which is defined as a "high-quality recovery". Due to the current transformation of China's economic structure and the adjustment of domestic policies, this round is different from the economic recovery in 2009, from "iron public base" to new infrastructure, from "real estate as the pillar" to "housing speculation". From "home appliances to the countryside" to the distribution of consumption coupons, from "4 trillion" to "six stability and six guarantees", the current recovery is not the rapid growth of quantity, but also the effective improvement of quality. Therefore, it is believed that the opportunity for "recovery cow" is not structural, but overall, but it should also be noted that in this round of recovery, the overall supply and demand pattern of new economic industries is better and the recovery speed is faster.
Haitong Securities said that the focus of the "two sessions" this year is most worthy of attention in the capital market, such as the GDP target, the fiscal deficit ratio, the reform of state-owned enterprises, and the structural reform of the financial supply side. Medium-term perspective, the current market is the bull market 2-wave adjustment after the bottom of the interval shock, for the bull market 3-wave rise momentum, and other fundamentals rebounded data more clear. Confidence and patience, step by step, external demand is insufficient to make up for domestic demand, first focus on new infrastructure and consumption, medium-term technology and securities firms are better.
Huatai Securities pointed out that at the current interest rate level, the A-share risk premium reached 4.98%, risk appetite has returned to the end of February to early March, before the outbreak of the overseas epidemic high. In terms of valuation, A-share US stocks are valued ahead of blue chips and repaired to pre-outbreak levels in China. In the case of the deposit benchmark interest rate has not been adjusted, the bottom of the short-end interest rate may have appeared, and the degree of molecular-end performance repair has become the core variable for the further upside of the market. China has changed from supply-side repair to demand-end repair, superimposed counter-cyclical regulation policy to accelerate landing; overseas is still in the supply-side repair period, after the resumption of the epidemic risk is still in. The short-term recovery of overseas demand is slow or constraining the stabilization of the economy, focusing on structural opportunities: three "electricity" (electronic / power equipment / home appliances), the right "cloud" (cloud infrastructure services), the left "steam zero" and the electric vehicle industry chain.
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