Hong Kong United Securities believes that the current market is showing a downward trend, and there are many internal and external uncertainties, and some market funds choose to stay on the sidelines. From an operational point of view, the wait-and-see strategy we proposed performed well. Investors can first control their positions and wait for the boots of some recent events to fall to the ground before conducting subsequent investment operations.
On Wednesday, the A-share market encountered resistance and fluctuated in a wide range, and the Shanghai stock index basically showed the operating characteristics of wide fluctuations throughout the day. The current average price-earnings ratios of the Shanghai Composite Index and ChiNext Index are 12.89 times and 36.39 times respectively, which are below the median level in the past three years. The market valuation is still in a relatively low area, which is suitable for medium and long-term layout. The trading volume of the two cities on Wednesday was 802.7 billion yuan, which was below the median of the average daily trading volume in the past three years. In the future, the overall stock index is expected to maintain a volatile pattern. At the same time, it is still necessary to pay close attention to changes in policy, capital and external factors. It is recommended that investors maintain 60% of their positions and focus on short-term investment opportunities in industries such as new energy, communication equipment, and electronic components.
The Shanghai stock index broke the half-year line and the annual line one after another in the intraday session, and once approached the integer mark of 3200 points. There were signs of "breaking the position", but there was no sign of heavy volume, which means that the kinetic energy and space for the decline are limited, and the "breaking position" is expected to be repaired at any time. After the Shanghai Index is fully adjusted, it is expected to continue to hit 3300 points. Pay attention to the changes in volume and market sentiment. Before the market effectively breaks through the high point in July last year, it is still necessary to control the overall position and it is suitable to buy low. The digital economy and the "China Special Valuation System" are expected to become the main driving force for the market to rebound again. Pay attention to the high-performance artificial intelligence application sector to increase positions Opportunities, part of the layout of blue-chip new energy, consumer stocks oversold rebound opportunities.