Shanghai Stock Index hits new highs during the year
Our reporter Zhao Ziqiang
Last week, the broader market consolidated strongly. Although the Shanghai Stock Exchange Index hit a new high for the year last Wednesday (December 2), the index only fluctuated around 3,450 points and did not form a strong breakthrough for the bulls. As of the close of last Friday, the Shanghai Composite Index The index closed at 3444.58 points, a weekly increase of 1.06%, and the Shenzhen Component Index closed at 14026.66 points, a weekly increase of 2.45%.
The weekly turnover of A shares was 4.27 trillion yuan, 4.01% higher than the last week of November.
In terms of industry index, last week, 23 categories of Shenwan first-level industries rose, accounting for 82.14%. Pharmaceuticals and biology ranked first with a weekly increase of 5.98%. Media and food and beverage ranked second and first with 4.14% and 3.68% respectively. Three; the top three industries with the largest declines are steel (-0.50%), real estate (-1.33%), and automobiles (-0.51%).
Although the Shanghai stock index only fluctuated at high levels, industry insiders still expressed affirmation of the market trend last week.
Xia Fengguang, manager of the Future Star Fund of Private Equity Painet, interviewed by a reporter from the Securities Daily, said that the pace of market operation has been maintained in recent times. Financial and real estate sectors have boosted the index and brought the market’s popularity to life. Although financial real estate has continued this week There have been adjustments, but the food and beverage, medical, agriculture and animal husbandry, electronics and other sectors have been launched one after another, and the hot spots in the field have maintained an orderly rotation.
Huang Jiefeng, manager of Volon Chuangxin Investment Fund interviewed by a reporter from "Securities Daily", said that the current market structure is gradually improving, and the size index is slowly forming a resonance. The pharmaceutical sector that has been sluggish in the previous period has begun to rebound, and some core technology stocks have gradually appeared funds. Signs of configuration.
This week, a large inflow of capital from northward has continued, and the overall market environment has gradually warmed.
From the perspective of Beijing Capital, there is indeed a large amount of capital flowing into A shares.
Statistics show that last week (November 30-December 4), the northward capital once again showed a net inflow, with a total net purchase of 24.540 billion yuan, reaching the fifth highest net purchase amount in a single week during the year.
Due to the stable performance of A-shares at high levels last week, industry insiders are generally more optimistic about the future trend of the A-share market.
Liu Yan, Chairman of Anjue Assets, told the "Securities Daily" reporter that at present, funding is gradually loosening, and the policy and economic aspects are becoming benign, especially the rising trend of bulk commodities is clear, the market is expected to be booming, and institutional investment is gradually increasing. , It is expected that a new wave of market outlook will emerge.
"The market has fluctuated in the range of the past five months. It is time to make a choice of direction. The bears have been unable to expand their winning results after fighting for so long. After the sideways consolidation in the upward trend, they will eventually break through. The main index will either hit a new high or On the way to a new high, combined with the performance of the global stock market, there is reason to believe that this market is really coming." Fangxin Wealth Fund Manager Hao Xinming told a reporter from the Securities Daily.
Xia Guangming said that the current trend of strategic depreciation of the US dollar is relatively obvious, and emerging markets and commodity currencies are expected to be sought after. This creates a favorable external environment for the A-share market to attract overseas capital inflows.
As long as the market does not show a rapid rise, the risk is relatively controllable. Maintaining the slow bull pattern should be a situation that all parties are happy to see.
Hao Xinming believes that the return logic of the “pro-cyclical” sector value is recognized by the market. Such stocks, such as financial, non-ferrous metals, and chemical industries, are mostly large-cap stocks, which have contributed a lot to the index breakthrough and are the source of the breakthrough; secondly, growth stocks have been fully adjusted , Continue to kill the decline kinetic energy is exhausted, blocking the downside space.
For the future investment layout, Hao Xinming believes that the market in the next one or two months will form a pattern of value style leadership and growth style accumulation. After the New Year’s Day and Spring Festival, the growth style will re-dominate, because this round of market is transforming and upgrading cattle, technology and consumption. Is the main line.
In terms of operation, the basic market is still dominated by technology growth stocks, and small positions are supplemented by "pro-cyclical". The market will not advance smoothly. Small fluctuations will be underestimated, grasping the big trend, and maintaining strategic positioning in 2021.
Huang Jiefeng believes that although the current lack of market volume will lead to rotation among hotspots, as the index slowly rises and market confidence is restored, it is expected to attract more incremental funds to enter the market one after another, and investors can be active on dips. The leading targets for the layout of high-quality tracks include pro-cyclical sectors with obvious valuation advantages, as well as hard-core segmented technology leaders that are in a boom cycle and fully adjusted.
(Securities Daily)