Yesterday, the stock indexes of the two cities rebounded and rose across the board. The Shanghai Index rose by more than 1% to recover 3300 points; The index rose 2.11% to 2299.93 points, and the Shanghai Stock Exchange 50 Index rose 1.75%. The total turnover of the two cities was 938.3 billion yuan, and the net purchase of northbound funds was 4.085 billion yuan. In terms of industry, the lithium battery sector is trending strongly, new energy sectors such as energy storage and photovoltaics are strengthening, and the insurance, brokerage, and banking sectors are rising in the afternoon to help the market counterattack.
Hong Kong United Securities stated that the Shanghai stock index rebounded quickly and regained its position on the key platform of 3300 points, and the deep V market reappeared. From the perspective of the weekly level, after the market pulled back to the 20-week line, it quickly stabilized and stopped falling, and once again stood on the 5-week line, the index's upward trend has not changed. Can be cautious to see more. In terms of operation, it is best to deploy individual stocks with superimposed concepts of supplementary growth expectations in themes such as state-owned enterprise reform, energy storage, and artificial intelligence on bargain hunting.
Analysis of investment opportunities today:
The banking sector has entered the stage of active allocation
On the 15th, the People's Bank of China released the China Monetary Policy Implementation Report for the first quarter of 2023. The report clarifies that the People's Bank of China will combine the implementation of the strategy of expanding domestic demand with the deepening of supply-side structural reforms, combine the effectiveness of policies with the stimulation of the vitality of business entities, build a modern central bank system, give full play to the effectiveness of monetary and credit policies, and do its best to ensure stability. Growth, stable employment, and stable prices.
In this regard, Hong Kong Union Securities stated that the cargo administration report for the first quarter focused on "combining the effectiveness of policies with stimulating the vitality of business entities", and the monetary authorities may pay more attention to policy efficiency and market vitality in the next stage. The statement of the interest rate policy in this report is worthy of attention. Under the condition of "maintaining a reasonable and moderate interest rate level", the loan interest rate is expected to stabilize marginally; "playing the important role of the market-oriented adjustment mechanism of deposit interest rate", or there is still room for optimization of the corresponding deposit interest rate.
From the perspective of bank investment, credit supply has returned to a sustainable state, positive factors in deposit and loan pricing have gradually accumulated, bank income and profits are expected to gradually recover in the following quarters, and the sector has entered a stage of active allocation. There are two main lines for individual stocks: one is the logic of valuation restoration, that is, the performance restoration of high-quality companies drives valuation restoration; the other is the logic of valuation improvement, which corresponds to the valuation space brought about by the improvement of the asset quality cycle of individual banks; in addition, you can pay attention to Zhongte The concept of valuation catalyzes the sustainability of the market, especially the role of top-down policy promotion that exceeds expectations on valuation enhancement.
Lithium carbonate prices continue to rebound
In the past half month, the price of battery-grade lithium carbonate has rebounded from a low of 180,000 yuan/ton, with a cumulative increase of nearly 50%. According to data from Shanghai Steel Union, as of May 15, the average price of battery-grade lithium carbonate was 265,000 yuan/ton, an increase of 17,500 yuan/ton that day. So far, the price of battery-grade lithium carbonate has risen for 11 consecutive trading days.
Industry insiders believe that the recent rise in the price of lithium carbonate is mainly affected by market sentiment. In fact, manufacturers are holding back goods and are reluctant to sell them, and the terminal demand in the market has not really amplified. However, the downstream production of the lithium battery industry chain has gradually picked up recently, and its demand for replenishment may be one of the reasons for this round of lithium carbonate price increases.
In the early stage, the decline of lithium carbonate accelerated, and material factories took a cautious and wait-and-see attitude in purchasing. However, as the price rebounded, the lithium salt inventory was gradually being digested. In the medium and long term, there is still a gap between the supply and demand of lithium resources. Lithium resource companies can still enjoy the profits of high lithium prices. The high performance of the lithium sector is underestimated. It is recommended to pay attention to high-quality lithium resources with high self-supply rate, low-cost stable output and continuous expansion of production. Lithium standard. At the same time, as the price of lithium salts rises, the prosperity of the recycling industry chain begins to recover. Recycling companies are expected to increase their waste purchases and their profitability will steadily increase.
Energy Bureau emphasizes promoting the development of new energy storage
Recently, the Science and Technology Department of the National Energy Administration organized a symposium on new energy storage work (Central China) in Kaifeng, Henan Province. The meeting emphasized that all parties should attach great importance to the understanding of the necessity, urgency and challenges of new energy storage work, deeply grasp the development status and technical characteristics of new energy storage, continue to strengthen the guidance and dispatching of new energy storage planning, and actively carry out pilot demonstrations , Strengthen the construction of a multi-level standard system, explore and improve supporting policies, and build a fairer and more open market environment. At the same time, it is necessary to strengthen project operation and maintenance, improve the fire protection acceptance and safety management mechanism, promote the sound and rapid development of new energy storage, and support the construction of a new energy system.
Hong Kong Union Securities stated that lithium batteries occupy the mainstream of the new energy storage market and are expected to fully benefit from the rapid development of the energy storage market. As an important supplement to the energy storage market, it is recommended to pay attention to Dingsheng New Materials, which doubles the amount of aluminum foil for sodium batteries, and the core targets of the battery segment, Chuanyi Technology and Veken Technology; vanadium batteries are suitable for the large storage market due to their unique technical advantages, and are expected to usher in Growing rapidly.
ASCO conference will be held soon, pay attention to star innovative pharmaceutical companies
The American Society of Clinical Oncology (ASCO) Congress will be held in Chicago, USA from June 2nd to 6th. Invited by the conference, many star pharmaceutical companies in my country will soon disclose the latest clinical data of a number of products at the ASCO conference (2023), covering a wide range of disease fields, such as hematologic malignancies, digestive tumors, and lung cancer.
Hong Kong Union Securities said that referring to the impact of ASCO meetings on the innovative drug sector in recent years, it is optimistic that related innovative drug companies that are expected to disclose positive clinical results at this ASCO annual meeting, such as Hengrui Medicine, Beiji Shenzhou, Ascentage Pharmaceuticals and Baili Tianheng and so on.
Other market-moving news:
A number of economic data will be released in April
The National Bureau of Statistics will announce a number of economic data for April at 10 am on the 16th. Many institutions believe that the restoration of the domestic consumption scene has been basically completed; mainly due to the low base last year, the year-on-year increase in total retail sales of consumer goods in April will increase significantly. In addition, due to the decline in the level of manufacturing prosperity in April, the biggest uncertainty in fixed asset investment comes from the manufacturing industry; the year-on-year decline in real estate investment may narrow slightly; infrastructure investment may become an important force driving economic growth.
Foreign investors increased their positions in domestic securities for two consecutive months
Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, said on the 15th that in April, my country's foreign exchange market operated smoothly, and domestic foreign exchange supply and demand were basically balanced. Under the capital account, foreign direct investment in China continued to maintain a net inflow in April, and foreign capital bought domestic securities for two consecutive months.
"Science and Technology Reform Action" expanded
Weng Jieming, member and deputy director of the State-owned Assets Supervision and Administration Commission of the State Council, said at the on-site promotion meeting for the expansion and deepening of the "Technology Reform Action" that recently, the State-owned Assets Supervision and Administration Commission has made a large-scale expansion and adjustment of the "Technology Reform Enterprises", expanding from 439 to 672 . In the future, greater efforts will be made to create forward-looking strategic emerging industries. It is necessary to aggregate and optimize resources to seize new tracks.
Many funds announced the suspension of subscription
A few days ago, a number of active equity funds announced the suspension of large-amount subscriptions or direct suspension of subscriptions, many of which are excellent products managed by well-known fund managers. According to the industry, the purchase restriction of most funds is to control the management scale of funds within a reasonable range and ensure the sound growth of fund performance and scale.
Fund companies generally believe that under the weak recovery of the domestic economy, the overall market risk is not large at present, and the room for further decline is limited. At the same time, there is still room for repair of undervalued state-owned enterprises.
Buffett Clears TSMC
The 13F document released by Buffett’s Berkshire Hathaway shows that in the first quarter, Berkshire Hathaway cleared its holdings of TSMC, which had been greatly reduced before, and reduced its holdings of eight stocks including Le Chevron, McKesson, and General Motors. . In terms of holdings, Buffett increased his holdings of more than 20 million shares of Apple, and continued to increase his position in Occidental Petroleum.
Ali responds to layoffs
Regarding the news that the autonomous driving business of Alibaba Dharma Institute has laid off 70% of its staff, Ali responded that the news is not true. Due to business adjustments, the autonomous driving business of the Dharma Institute has been transferred to Cainiao Group, some personnel will be transferred to Cainiao Group, and some other personnel will be transferred at the same time. Enter Ali's other businesses. Personnel optimization accompanying business adjustments does exist, but "70% layoffs" is not true.