China-Singapore Jingwei client May 11 (Xinhua) After the Shanghai stock index rose 1.23% last week and the Shenzhen Component Index rose 2.61%, this Monday (11th), the A-shares continued to rise higher, the Shanghai index reported 2901.57 points, an increase of 0.22 %; The Shenzhen Component Index reported 11053.82 points, an increase of 0.47%; the GEM Index reported 2139.98 points, an increase of 0.6%; the Shanghai 50 Index was 2876.77 points, an increase of 0.13%.

  Shanghai and Shenzhen stock market opening performance source: Wind

  On the disk, sectors such as computers, optical optoelectronics, medical equipment, white goods, and communications equipment led the gains; feed, gold, professional engineering, livestock and poultry breeding, textile manufacturing and other sectors led the decline.

  In terms of concept stocks, RCS, tire pressure monitoring, yesterday's daily limit, gallium nitride, MiniLED and other gains were among the top gainers. Funding leaders, Hangzhou Asian Games, unmanned banks, pork, and ST concepts were among the top losers.

  In terms of individual stocks, 2,248 stocks rose, among which 31 stocks such as China Taiyue, Mitutoyo and Aikelan rose more than 5%. 847 stocks fell, of which 6 stocks including Longji Machinery, Asia Pacific Industries, and China Star Ventures fell more than 5%.

  In terms of capital flow, the top five inflows in the industry sector are other transportation equipment, cultural media, Internet media, marketing communications, and shipbuilding, and the top five outflows are other transportation equipment, cultural media, internet media, marketing communications, Shipbuilding. The top five stocks that flowed into the top five were Perry shares, Jinji shares, Stick, Electroacoustic shares, and compass. The top five stocks that flowed out were Perry shares, Jinji shares, Stick, Electroacoustics shares, and compasses. The top five influential themes are O2O concepts, cotton, UHV, wind power, and Shenzhen state-owned asset reforms, and the top five outflowing concepts are O2O concepts, cotton, UHV, wind power, and Shenzhen state-owned asset reforms.

  CITIC Securities believes that, from the perspective of absolute valuation, the high structural absolute valuation is the current global commonality, the result of a comprehensive reflection of industry trends, liquidity environment and risk appetite, not an obstacle to further market rise. From the perspective of relative valuation, the overall valuation of A shares relative to major global markets is still high, with downward risks limited and upward revaluation room.

  The external disturbance factors in May are limited. It is more important to seize the time window of May's rise, without paying too much attention to the growth rate and space. CITIC Securities still believes that May is the best investment window in the second quarter of this year, and the rhythm tends to increase slowly. The configuration still recommends that new and old infrastructure and related technology leaders (5G, cloud computing, new energy vehicles, etc.) be the main line. Gradually deploy high-quality stagflation sectors suppressed by the epidemic in the early stage.

  Huatai Securities said that at the current interest rate level, the A-share risk premium reached 4.98%, and the risk appetite has returned to a high level from the end of February to the beginning of March, before the outbreak of the overseas epidemic. In terms of valuation, the valuation of A-share US stock growth stocks is ahead of blue-chip stocks and has been restored to the level before the outbreak of the domestic epidemic. In the case of unadjusted benchmark interest rates for deposits, the bottom of short-term interest rates may have appeared, and the degree of molecular-side performance restoration has become a core variable for the market to further rise.

  Huatai Securities also said that China has shifted from supply-side repairs to demand-side repairs, accelerating the implementation of counter-cyclical adjustment policies; overseas is still in the supply-side repair period, and the risk of a second outbreak after resumption of work remains. The short-term overseas demand picks up slowly or restricts the stabilization of the economy, focusing on structural opportunities: adding three "electricity" (electronics / power equipment / home appliances), the right "cloud" (cloud infrastructure service), the left "steam zero" and electric Car industry chain. (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.)