On the 14th,The Shanghai Composite IndexAfter a violent shock around the 3000 points, it finally closed down 1.2%, closing at 2990.69 points.GEMThe number fell by 2.58%. HotspotthemeThe stocks collectively fell.
Analysts said that digital twinning, network slicing, and heterogeneous computing. In just a few days, a number of themes broke out in the market. After the short-term trading sentiment surged, the incremental capital capacity could not match the width of the subject matter. In addition, the influence of the news surface, the rapid rise of the theme stocks in the continuous rise is also reasonable.
Huang Yanming, director of Guotai Junan Securities Research Institute, said that the status of the market-leading style of hot money will continue in the next period of time, but the market has not yet finished, the future index is expected to break through 3,200 points, and the breakthrough needs to rely on the force of the cyclical sector.
"Six King Kong" all fell within two days
On Tuesday, in a stock forum, some investors referred to “People’s Net, Shibei Gaoxin, Ankong Technology, Minjiang Hydropower, Great Wisdom, and Oriental Network” as the “six King Kong” of the market. It is a third-party audit, venture capital, edge computing, power Internet of Things, financial technology, 4K high-definition leading stocks, is the core stock of the short-term market, but also the vane of market sentiment.
After only one day, the Minjiang River Hydropower and Great Wisdom both fell. Although the two stocks pulled up from the daily limit on the afternoon limit, the closing decline was still around 7%.
On Thursday, the remaining four stocks in the “Six King Kongs” were closed down in the afternoon.
During the two-day period, the “Six King Kong” fell across the board, causing a short-term panic. As of the close of the 14th, nearly 100 stocks in the two cities fell. Although the number of downsides is less than last Friday, the number of daily limit stocks is less than 40, the lowest level since February.
Hot topics have cooled down
Since February, there has been an increase in the number of breeding stocks, mainly pork and chicken stocks. The leading varieties have also undergone dramatic adjustments in the past two days.
As of the close of the 14th, Yisheng shares and Zhengbang Technology fell to a limit, and Xiantan shares rebounded from the close to the end of the downturn, but eventually fell by 5.02%.
After the plateDragon and TigerIt shows that the four institutions of Yisheng Shares sold 93.55 million yuan.Deep shareNet sales of 50.77 million yuan; Xiantan shares sold 75.11 million yuan; Zhengbang Science and Technology Agency sold 45.375 million yuan; Shengnong Development three agencies sold nearly 150 million yuan.
In addition, industrial cannabis Zhongshun shares also closed the daily limit on the 14th.
The market expects the theme to rotate
Huang Yanming, director of the Guotai Junan Securities Research Institute, said today that the status of the market-leading style of hot money will continue for the next period of time, but there will be a transition in the late stage of the market, from a hot-selling investment style to a public-reward-led investment style. It will take a while to appear.
“When the leading stocks lose money effect, it is often the time when the short-term risk of the market is the biggest. But the end of one emotional cycle is also the beginning of another cycle.” A market source told the China Securities Journal that the short-term funds in the market are not willing Relay high stocks, it is necessary to tap the trading opportunities of low stocks. At the same time, the market's major declines were mainly due to high stocks and theme stocks, while the short-term stocks that had just started were weaker.
“There is a need to pay more attention to the theme rotation, and the recent stagflation but flexible theme is worthy of attention, such as new energy vehicles, regional topics and times.New sharesHigh transfer theme. "China Merchants Securities StrategyAnalystZhang Xia said that the current stage of the catalyst-led theme market has been reached, and with the weakening of marginal effects, it may bring about a certain degree of market shocks, but this does not change the state of the medium-term partial market. Short-term reference to the theme of investment ideas: science and technology mapping topics such as integrated circuits, high-end manufacturing, industrial Internet, new materials, etc. will still be in the catalytic certainty stage.
Huang Yanming said that the market has not yet finished, the market's follow-up resistance is limited, the future index is expected to break through 3,200 points, the breakthrough needs to rely on the force of the cyclical sector, and after breaking through 3,200 points, the market still has room.
On March 14, at the 2019 Spring Strategy Meeting of Guotai Junan Securities held in Shanghai, Li Shaojun, chief strategist of Guotai Junan Securities, said that in the current economic pressure and weak balance of inflation, market profitability is still difficult to improve significantly in the short term. The main driving force behind the A-share market is still risk appetite. The risk-driven valuation of the valuation repair market will continue until the fundamentals are expected to be validated.
Galaxy Securities said that although the market is relatively active and investors are optimistic, after the valuation has driven a rapid rise, it is necessary to calmly look at the trend of future A-shares instead of blindly following the market trend. If the economic data improves, institutional investors will switch positions, then the cyclical stock will inevitably benefit, due to the limited repair of the previous period and the small increase. If economic data is generally good, then mainstream hotspots will still be in technology +BrokerSector aspect.
Summary of institutional views>>>
(Article source: China Securities Journal)