Sino-Singapore Jingwei client May 6th today (6th) is the first trading day of A-shares in May. The Shanghai stock index reported 2831.63 points, down 0.99%; the Shenzhen Component Index reported 10618.17 points, down 0.97%; the GEM index reported 2052.39 Points, down 0.82%.
Shanghai and Shenzhen stock market opening performance source: Wind
Brokerage firms and bank stocks float across the board
On the disk, only the extractive services and park development sectors rose; airport shipping, brokerage, hotel catering, media, retail and other sectors fell the top.
In terms of individual stocks, 437 stocks rose, among which 30 stocks such as Mona Lisa, Xinnong Development and New Dairy rose more than 5%. 3172 stocks fell, including ST Changjiu, ST Haoyuan, ST Qunxing and other 20 stocks fell more than 5%; brokerage and bank stocks were all green.
From the perspective of the north-south capital flow of Shanghai-Shenzhen-Hong Kong Stock Connect, as of press time, the net inflow of northbound funds was 155 million yuan, of which the net inflow of Shanghai Stock Connect was 0.25 billion yuan, the balance of funds on the day was 51.975 billion yuan, and the net inflow of Shenzhen Stock Connect was 130 million yuan. The balance is 51.87 billion yuan; the southward capital inflow is 799 million yuan.
Institution: A-share market is expected to remain volatile
What do institutions think about the trend of the A-share market in May?
Huatai Securities said that the general trend of A shares is expected to remain volatile, but the market is already on the right. Considering the marginal change of support and repression, the comparison of the change range, the stage at which it is exceeded, and whether it is beyond expectations, the probability that the May index hub is higher than April is greater.
In terms of configuration ideas, Huatai Securities said that both internal and external logic have both benefited from the three main lines of external demand improvement and external focus shift, but also benefited from domestic demand policy support or existing economic advantages-export advantage manufacturing, independent controllable manufacturing 3. In optional consumer manufacturing, based on the strategic perspective of ROE fundamentals and the tactical perspective of domestic and foreign positions, it is recommended to add three "electricity": electronics (semiconductor, components, PCB), power equipment (photovoltaic, wind power), home appliances White appliances, kitchen appliances), continue to hold the "cloud" on the right: cloud infrastructure services, and focus on the automotive parts and electric vehicle industry chain on the left.
Guotai Junan also believes that the market shock pattern in May is expected to continue. The key factor that affects the market is that the market lacks sufficient momentum both upwards and downwards, and the shock pattern will remain in May. Among them, there are four upward support in the market: higher valuation attractiveness; looser liquidity; profit turning point is present; policy expectations. In addition, there are four downward pressures: short-term foreign capital inflows will slow down; market supply pressure will increase; market capital supply will decrease; and the market will lack a mainline.
CITIC Securities believes that the short-term impact of external factors brings a good opportunity to intervene. It is expected that May is the second half of the A-share rise in the second quarter and the best investment window in the second quarter. First of all, May is a period of cohesion for domestic policy consensus: countercyclical policies and pilot reforms of publicly-funded REITs are intensively implemented. With the policy fully supporting the economy, market risk appetite will continue to be repaired. Secondly, May is a period of rapid recovery of the domestic economy: the trend of fundamental replenishment becomes clearer with the release of data in April. After the "short board" of the life services industry is finally completed, domestic economic activity will recover quickly in May; At the same time, the established fact that the A-share first quarter report is weak will not affect the subsequent quarter-by-quarter improvement in earnings growth, and the current resilience of A-share fundamentals is significantly higher than that of Europe and the United States. In addition, May is an acceleration period for global capital reallocation: the European and American economies are “restarting” slowly, and May will still be suppressed by the epidemic. Excess liquidity is accelerating in the global reallocation. Fundamental relative strength analysis, it is expected that A shares will continue to benefit.
In terms of configuration, CITIC Securities still recommends that new and old infrastructure and related technology leaders (5G, cloud computing, new energy vehicles, etc.) be the main line; at the same time, it can continue to lay out the high-quality stagflation plate suppressed by the epidemic in the early stage.
In addition, Galaxy Securities said that in the short term, the emergence of the phantom of trade conflicts will impact global financial markets in the short term, and the impact of the A-share market is inevitable, but the range is expected to be relatively limited. The 30-day moving average will form a strong support for major indexes. After the impact, if the phantom of a trade conflict does not actually appear or the global market does not have a new negative variable impact, the market will most likely continue to raise its center of gravity under the expectation of the super policy of the two sessions. It is recommended to focus on the domestic demand-based cycle and consumer industries.
Northeast Securities pointed out that the A50 futures quickly dropped last Friday, falling more than 5%, which caused a low opening effect for the opening of A shares on May 6. However, the impact was only short-lived and did not become a reason for lightening positions. The judgment of "see more and move less" was still maintained. In May, the market will usher in the final "darkness before dawn", and the clearest upward signal will be seen in early June. It is recommended to maintain the original configuration and wait patiently for the repair of market trends. (Sino-Singapore Jingwei app)
(The opinions in this article are for reference only, and do not constitute investment advice. Investment is risky and you need to be cautious when entering the market.)