Shanghai stock index weekly 3 consecutive Yang approached 26

This week, the market was oscillating higher under the blue-chip white horse stocks. The Shanghai Composite Index has approached the 2600 mark on Friday. From the weekly point of view, the Shanghai Composite Index has closed for three consecutive weeks, and many parties firmly grasp the control. . As the index rises, some of the sharply raised stocks in the previous period have high stagflation. In this regard, the industry believes that although the focus of the broader market shifts, but the differentiation of individual stocks will increase significantly, investors should pay more attention to the varieties whose stock prices are still low, and try to avoid the short-term stocks that have risen sharply.

Blue chip stocks continue to repair the market

This week, the reason why the market can steadily rise, mainly thanks to blue chip stocks. Wind statistics show that the recent main force has significantly increased the operation of the heavyweights headed by the SSE 50, while the SSE 50 index rose 2.67% this week, outperforming the Shanghai Composite Index by 1 percentage point. In terms of individual stocks, the top ten heavyweights of SSE 50 rose by 3.29% this week, among which the first heavyweight China Ping An (601318, diagnostic stock) rose 3.19% a week; the second largest weighted stock Kweichow Moutai (600519, diagnostic stock) In the week, CITIC Securities (600030, Diagnostics) and China Construction (601,668, Diagnostics) both rose more than 5%.

The reporter noted that consumer stocks continued to rebound in the near term, liquor, home appliances, medicines, etc. all had good gains, and after the recent rebound in Kweichow Moutai, the stock price once again approached the 700 yuan mark on Friday.

For the rise of the consumer sector, Haitong Securities (600837, Diagnostics) an analyst told the Public Securities News reporter that this aspect is the repair of the valuation of blue chip stocks; on the other hand, the recent policy-related stimulus It is also very powerful. On the news front, on January 18, the National Development and Reform Commission, the Ministry of Commerce, and the State Administration of Market Supervision jointly held a teleconference on optimizing market supply for consumer consumption in Beijing to study and deploy the next step. The meeting emphasized the efforts to expand the scale of consumption and promote the consumption of automobiles and home appliances according to local conditions.

Under the index market, the stocks have increased in differentiation

Although the market has steadily increased this week, the differentiation of individual stocks in the market has increased significantly, the sector has rotated faster, and investors have not earned the index. few.

The reporter noted that although the Shanghai Composite Index rose nearly 40 points on Friday, the two markets fell significantly.Increase, including many recent "demonstration stocks", such as Pengqi Technology (600614, diagnostic stock), Fengfan shares (601700, diagnostic stock), Xiongyi shares (002733, diagnostic stock) and so on. Chen Bin, a private equity fund manager in Shanghai, told reporters that the "demon stocks" chose to dive in the context of the broader market index, indicating that short-term funds are gradually leaving the market in the context of the market recovery before the Spring Festival, especially in some "demon stocks". Very obvious.

Taking Fengfan as an example, it is difficult for the stock to create another space after ten consecutive daily limit, and the main force is still huge on the stock compared to its Jiancang area of ​​less than RMB 3. Profitable space. From the perspective of the recent sector rotation, it tends to rise sharply on the day, and the next day has a large probability of heavy selling, which also reflects the short-term capital arbitrage characteristics.

Even with blue chip stocks, the recent rotation characteristics are also very obvious. For example, automobiles and home appliances have been launched in advance, followed by liquor, medicine, etc.; and with the launch of the energy sector, coal and electricity have taken turns. On Friday, the coal sector was lifted in the morning, and the steel stocks jumped out in the afternoon. Therefore, large-cap blue-chip stocks are not better grasped than the theme stocks.

"Abandoning high from low" is Wang Dao

There are still two weeks of trading time from the Spring Festival holiday. Investors should still abandon the high and low, and try to touch the short-term. Theme stocks.

Mr. Xue, senior manager of Guotai Junan (601211, Diagnostics) Securities, told reporters that this week's broader market continued the rebound pattern. As the 2600-point barrier approaches, investor operations will tend to be cautious. Although the market has risen in the near future, its shock pattern has not changed, so it is appropriate to take a low-selling for large-cap stocks. For the theme stocks, they should insist on “latency” and focus on the varieties that are oversold.

Yan Xinwen, an analyst at Huaxin Securities, believes that this round of market cannot be defined as a spring-selling market. In the context of the expected decline in A-share earnings growth, it is difficult for investors to find a way to rely solely on performance logic to drive share price increases. Industry. At the current stage, policy expectations have become the norm, so this has led to the resurgence of thematic investment, but the theme persistence and the plate's rotation effect are very poor, and can not be compared with the 2017 spring incitement, so for the year before For a few trading days, investors should be cautious.

Cheng Yimin, chief analyst of China Post SecuritiesFor the time being, recently, it was pointed out that the general direction of the section on the draft of the Science and Technology Board has been fixed, and some details are being revised. It is just around the corner to publicly solicit opinions. Undoubtedly, Science and Technology Board is one of the most anticipated investment themes in 2019. Its demonstration effect on China's direct financing market reform will be far-reaching, and as a direct benefit to the brokerage sector, leading large brokerages may be more beneficial.

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