Main recommendations
165438+ 10 Caixin China's manufacturing PMI recorded 5 1.8 in October, the highest in 20 17 years.
The development level of smart cities in Shanghai has improved, and the core urban areas have achieved 5G outdoor coverage.
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Market review
Market Comments: It is recommended to be cautious and optimistic in operation, and to lay out varieties with growth in performance on dips.
Macro perspective: 1 1, the net purchase of funds in the north exceeded 60 billion yuan, and the cyclical industries increased significantly.
Infrastructure industry: With the continuous support of countercyclical policies, infrastructure investment is expected to stabilize and rebound.
Futures information
Metal energy: gold 334.95, up 0.22%; Copper 47360, up 0.06%; Rebar 352 1, up 0.14%; Rubber 12585, up by 0.52%; The PVC index was 6760, up by 0.52%; Zheng Chun 1952, down1.61%; Shanghai Aluminum 13920, up by 0.72%; Shanghai Nickel 108020, down 2.27%; Iron ore 63 1.5, up 0.96%; Coke 1829.0, down 0.30%; Coking coal 12 16.5, up by 0.70%; Brent oil was 59.56, up 0.32%; Fiberboard 148 1.0, down 4.45%;
Agricultural products: soybean oil 6 196, down1.02%; Corn was 1865, up 0.16%; Palm oil 5634, down 0.25%; Zheng Mian 12930, down1.30%; Zheng Mai 2456, down 0.08%; Sugar 5482, up 0.13%; Apple 8 102, up1.87%; Jujube 109 15, down 0.27%;
Exchange rate: EUR/USD, 1. 1 1, up by 0.62%; USD/RMB 7.04, up 0.10%; USD/HK$ 7.83, up 0.0 1%.
Second, the key recommendation
In June 1 and June 1 1, Caixin China's manufacturing PMI recorded 5 1.8, the highest since 20 17 years.
Event: Caixin China Manufacturing Purchasing Managers Index (PMI) 165438 released on February 2nd recorded 5 1.8, which was 0. 1 percentage point higher than that in June 5438+00, and rose for five consecutive months, the highest since 20 17. This trend is consistent with the manufacturing PMI of the National Bureau of Statistics. According to the National Bureau of Statistics, the manufacturing PMI in June was 50.2+065438+10, up 0.9 percentage points from the previous month, only lower than that in March, which was the second highest in the year.
Comments: Caixin China's manufacturing PMI reached the highest level in 20 17 years, which is mutually confirmed with the official manufacturing PMI of 5438+01in June, indicating that the economic margin has stabilized obviously. With the gradual easing of trade friction between China and the United States, it is expected that business confidence will be restored to a certain extent, which will also improve investors' expectations, thus playing a strong supporting role in the market.
(investment consultant Zhong Yanling registered investment consultant certificate number: S02606 13020024)
2. The development level of smart cities in Shanghai has improved, and the core urban areas have achieved 5G outdoor coverage.
Event: On February 2nd, 65438, Shanghai Economic and Information Development Research Center released "20 19 Shanghai Smart City Development Level Assessment Report". Shanghai has achieved 5G outdoor coverage in the core city. According to the China Broadband Rate Report released by the Broadband Development Alliance, the average available download rate of fixed broadband in Shanghai has reached 4 1.95 Mbit/s, leading the country for six consecutive years.
Comments: With the official launch of 5G commercialization, it is expected that 5G construction will usher in a new round of peak. At present, 5G coverage is limited to a few key cities, and will gradually expand to second-and third-tier cities in the future, with broad growth space. With the improvement of 5G construction, related applications are expected to usher in explosive growth.
(investment consultant Zhong Yanling registered investment consultant certificate number: S02606 13020024)
Third, the market review
Market Comments: It is recommended to be cautious and optimistic in operation, and to lay out varieties with growth in performance on dips.
Affected by the warming news over the weekend, the major stock indexes of A shares collectively rose slightly on Monday. At the close, the Shanghai Composite Index finally rose slightly by 0. 13% to close at 2875.8 1 point. The Shenzhen Component Index closed up 0.24% at 9605.438+09 points; The GEM index closed up 0.28% at 1669.54. The market trading performance is still low, and the wait-and-see mood is strong. The total turnover of the two cities is only 342.5 billion yuan. On the disk, semiconductors, chips, building materials and other sectors were among the top gainers; Medicine, shipping, oil and other sectors led the decline. If there is no significant substantive good news, investors' mood will slowly recover. It is expected that the short-term market will continue to fluctuate and organize. It is suggested to be cautious and optimistic in operation, strengthen band operation flexibly, and lay out varieties with clear performance growth and reasonable valuation on dips. It is suggested to focus on: semiconductor, infrastructure, finance, chemical industry, military industry, etc. The stock market is risky, so you need to be cautious in investing.
(investment consultant? Where's Gu? Registered Investment Consultant CertificateNo.: S026066 1 1020066)
Macro perspective: 1 1, the net purchase of funds in the north exceeded 60 billion yuan, and the cyclical industries increased significantly.
Event: Although the market failed to reach 3,000 points in June 165438+ 10, foreign investment was very strong. According to the statistics of Securities Times and DataBao, northbound funds bought 60.437 billion yuan in 10, the third highest net purchase amount since the opening of the interconnection mechanism, mainly due to the large-scale expansion of MSCI on 10/26, when northbound funds bought 265.438+0.43 billion yuan. It is worth mentioning that since the opening of the interconnection mechanism, the net purchases in the four months have exceeded 60 billion yuan, all of which occurred this year, namely, 65438+ 10, February, September and 165438+ 10.
Comments: Recently, a large amount of northward capital has been continuously injected. According to statistics, in June, 5438+0 1, there were few northbound capital positions in traditional cyclical industries. Specifically, the number of stocks in the electronics industry increased the most. Northbound Capital recently held 4.077 billion shares, up 23. 1% from the previous month. Followed by non-ferrous metals, steel and mining, the number of shares rose by 2 1.27%, 19.96% and 14.62% respectively. The direction of foreign capital allocation is expected to guide future operations, and it is suggested that the investment value should pay due attention to the late performance of relevant cyclical stocks.
(investment consultant? Where's Gu? Registered Investment Consultant CertificateNo.: S026066 1 1020066)
Infrastructure industry: With the continuous support of countercyclical policies, infrastructure investment is expected to stabilize and rebound.
With the continuous support of counter-cyclical policies, we believe that the growth rate of infrastructure investment will still pick up in the next quarter or two, and the market share of leading companies with monopoly and competitive advantages in the industry will gradually increase. This year's financial reports of various companies have been reflected, and their valuation level may still have room for improvement.
(Investment Consultant Gu registered investment consultant certificate number: S026066 1 1020066)