A three-share index fell collective, diversified financial, environmental engineering, automotive, culture, media, brokerage trust and other plate decreases. As of press time, the main stock index fell 1.85%, Shenzhen Component Index fell 2.46%, down 2.70% GEM refers to the North net outflow of over 50 billion into the fund.
Stock index fell more than 2% fall afternoon 2900, GEM mean fell 3%. As of press time, stock index reported 2898.62 points, down 1.93%, Shenzhen Component Index reported 9054.11 points, down 2.57%, the GEM index reported 1489 points, down 2.95%. Judging from the disk, coal processing, hydrogen energy, fuel cells, oil trading and securities sector led the declines, seed industry, artificial meat, chips and other sector gainers.
Looking ahead, Central China Securities is expected to continue to focus on short-term stock index more likely to shock consolidation of 2900 points, the GEM market poised to order short-term point of around 1500 may be larger. We recommend investors cautious about the short-term food and beverage, aerospace and military industry and non-ferrous metals industry investment opportunities, midline recommended Stay tuned for Part underestimate the value of blue-chip blue-chip investment opportunities.
Shanxi Securities, said the short-term dimension, solid fundamentals to configure the end positions, preferential policies, more deterministic performance improvement, with the hedged risk factors section (petroleum, petrochemical, chemical industry, agriculture, forestry, animal husbandry and fishery); offensive positions can support national policy game strategic emerging industries, such as small-cap stocks Branch (chips, 5G, information security, cloud computing, etc.) of the oversold rally.
Hai Tong Securities pointed out that the recent rebound in the broader market continuously, but no prominent mainline appear, and complex external environment, in April more sluggish economic data, the index is expected to post a large probability will be consolidation in the cabinets. The current market funds tend to defensive assets, the valuation is relatively reasonable, defensive attributes of the consumer sector has become the focus of attention of funds.
Golden State securities that, after mid-April, the stock market adjustment of internal disagreement that expectations for the economy, management is relatively more optimistic, and investors are more cautious. Therefore, the external environment will help the parties to return to the same expectations for the economy, the macro side is likely to remain "steady growth + partial liquidity loose" state. In this environment, growth stocks are expected to resume an upward valuation of the repair process.
National League Securities also said that short-term adjustment is expected to end, obvious signs of market recovery. The current position is basically reasonable valuations, financial, real estate and other blue-chip sector valuations are still low, its high dividend rate on the long-term outside the capital still attractive. Meanwhile, outside the incremental funding will also find a new blue-chip growth plate. From the point of view has led the sector, consumer, financial, software and other blue-chip sector is still the focus of incremental funding to intervene.
Societe Generale Securities chief strategist Wangde Lun said the short term, the market will remain in the May adjustment, the pattern of shocks. There is a big variable external factors, investor risk aversion increased. In the medium term, lower-than-expected tax expenses so that the bottom of the scale of profit ahead of the arrival. 2018 fourth quarter may be the bottom of the earnings cycle. But considering policies to earnings data show the presence of delay, the bottom may continue to stay for some time. In the long run, for the first time in the history of A shares "long cow" might be slowly nurtured. Capital markets set the tone, "affect the situation as a whole", focusing on indirect financing to direct financing inclined; in the long-term funds are entering the market.
Operating strategy, Soochow Securities strategist Wang Yang said that the current bull market in the initial stage, technology is the main line that runs through. On the whole the market point of view, in the context of economic recovery in the short period, A-share earnings bottoming out, and profitability is stronger than the macroscopic toughness toughness. A Share follow trends, that the current bull market started at the bottom area of short-term adjustment is admission opportunities; the structure, subject shares at low tide, return to market fundamentals, growth and value wheel drive, is a blue-chip consumer ballast stone, technological innovation is the main line, underestimate the value cycle earlier than the valuation of fixed (banking, automobile, cyclical stocks). Specific to the industry configuration, in May and brokers active interest in science and technology (5G, semiconductor, cloud computing, etc.).
China Galaxy Securities pointed out that after the annual report, quarterly disclosure, May-June is the performance of vacuum. From a fundamental perspective, the market is not much downward pressure, but at the same time, the market upward momentum is also inadequate, unless there are favorable policies or economic data significantly than-expected stimulus. From the valuation and performance to match, the banks, coal, steel, pharmaceuticals relatively cost-effective, strong defense. During the short-term shocks GRF by overseas factors affecting good, there are industrial policy support, a clear positive themes and subject matter. Medium to long term growth of the main line, with excellent financial + consumption.
Industry configuration, and Thailand Securities believes that the current hard-core assets + technology is the main configuration directions. Good value for investors, this round of adjustment is an opportunity to buy shares core values, good for growth investors, greater flexibility rebound in the process of growth stocks, continue to recommend increasing the arrangement direction of the hard science and technology. "Hard technology", including artificial intelligence, aerospace, biotechnology, optoelectronics chips, new generation of information technology, new materials, new energy, intelligent manufacturing eight directions. Associated with this industry configuration recommendations mainly as follows: TMT (electronics, communications, computers), mechanical (industrial automation), pharmaceuticals (innovative drugs and medical device localization), utilities (nuclear power), electrical equipment and new energy (fuel cells, energy Internet), national defense (innovation in the field of aerospace), basic chemicals (related to the above fields of new materials class).
Boshi Fund said the second quarter investment mainly follow two main lines logic, one fundamental driving, looking for marginal improvement in fundamentals is expected to trend to the good performance or industries, such as agriculture, forestry, animal husbandry and fishery, brokers, and military; the second is to withstand the economic downturn, Looking weak periodic property or hedge attribute a strong industry, as well as hedging properties of a strong high-dividend sectors such as infrastructure, real estate, machinery and equipment and mandatory consumption. Specific to the investment themes that investors may be concerned about the following sections: one focusing on the theme 5G and hydrogen energy technology, 5G recommendations from equipment manufacturers to expand application areas such as intelligent driving, focus on aspects of hydrogen energy hydrogen fuel cell vehicles and industry support industries from the chain into investment opportunities in growth stage; the second is Kechuang board floor is coming, focus on the brokerage sector and its mapping technology stocks; the third is May MSCI expansion, focus on the inflow of foreign capital in advance of the impulse buy consumer sector into and so on.