Main recommendations
Central Bank: In June, RMB loans increased by 65,438+0.43 trillion, and M2 increased by 65,438+00.7%.
Ministry of Transport: Promote the research and development and application of road traffic autopilot technology.
Market review
Market comment: The market is more and more on the sidelines. It is necessary to flexibly control positions in operation, and stock selection should be based on performance fundamentals.
Macro view: The semiconductor industry is booming, and the leader in packaging and testing industry is welcoming performance flexibility.
National defense industry: Chang 'e V will return to the earth at the right time, and the space development will go to the next city.
Futures information
Metal energy: gold 388.94, down 0.01%; Copper 57290, up 0.44%; Rebar 3985, up1.32%; Rubber 14225, down 4.11%; The PVC index was 79 15, up by 2.53%; Zheng Chun 2309, up1.54%; Shanghai Aluminum 15775, down1.25%; Shanghai Nickel 12 1720, up by 0.39%; Iron ore was 93 1.0, up 0.11%; Coke 2554.5, up1.94%; Coking coal 1590.0, up 5.61%; Brent oil was 48.8 1, up 0.12%; Mei Zheng 709.8, up 3.74%; Soda 1402, down 3.04%; Liquefied petroleum gas 3657, down 4.24%;
Agricultural products: soybean oil 7428, down1.28%; Corn 2599, up 0.08%; Palm oil 6520, down 0.24%; Zheng Mian 145 10, down 0.68%; Zhengmai 26 14, up 0.15%; Sugar 4950, down1.57%; Apple 6576, down 2.17%; Jujube 9645, down 0.77%;
Exchange rate: Euro/USD 1.2 1, down 0.22%; USD/RMB 6.54, up 0.16%; USD/HK$ 7.75, flat.
Second, the key recommendation
65,438+0. Central Bank: In June, RMB loans increased by 65,438+0.43 trillion, and M2 increased by 65,438+00.7% year-on-year.
Event: 1 1 At the end of the year, the balance of broad money (M2) was 2 17.2 trillion yuan, up 10.7% year-on-year, and the growth rate was 0.2 and 2.5 percentage points higher than that at the end of last month and the same period of last year respectively. The balance of narrow money (M 1) was 6 1.86 trillion yuan, up by 10% year-on-year, and the growth rates were 0.9 and 6.5 percentage points higher than the end of last month and the same period of last year respectively. The balance of money in circulation (M0) was 81600 million yuan, up by 10.3% year-on-year. The net cash investment in the month was 55.7 billion yuan. /kloc-RMB loans increased in October/October 1.43 trillion yuan, an increase of 45.6 billion yuan over the same period of last year. In terms of sectors, loans from the household sector increased by 753.4 billion yuan, of which short-term loans increased by 248.6 billion yuan and medium-and long-term loans increased by 504.9 billion yuan; Enterprise (institution) loans increased by 78 12 billion yuan, including short-term loans increased by 73.4 billion yuan, medium-and long-term loans increased by 588.7 billion yuan, and bill financing increased by 80.4 billion yuan; Loans from non-banking financial institutions decreased by 654.38+0042 billion yuan.
Comments: The social integration data of June 5438+065438+ 10 and the growth rate of M2 are basically in line with expectations. In the context of sustained economic recovery, it is expected that monetary policy will gradually return to normal, and there is the possibility of marginal tightening. Under the dual effects of economic recovery and marginal tightening of monetary policy, the probability of large fluctuations in the market is small, and it is expected to be more reflected in the structural market.
(investment consultant Zhong Yanling registered investment consultant certificate number: S02606 13020024)
2. Ministry of Transport: Promote the research and development and application of road traffic autonomous driving technology.
Event: On February 9th, 65438, Minister of Transportation Li presided over the ministerial meeting. The meeting demanded that we should adhere to the principles of encouraging innovation, diversified development, piloting first and ensuring safety, and promote the research and development and application of road traffic autonomous driving technology. It is necessary to take technology research and development as the support, application demonstration as the guide, policies and standards as the guarantee, coordinate scientific research resources, and focus on the key technologies of autonomous driving in the industry. It is necessary to guide local planning and organization of a number of pilot application demonstration projects of autonomous driving in combination with the pilot work of building a strong transportation country.
Comments: Driven by the policy, with the substantial increase in the sales of new energy vehicles and the rise of new domestic car-making forces, the penetration rate of autonomous driving is expected to increase substantially, and companies related to the industrial chain are worthy of continuous tracking.
(investment consultant Zhong Yanling registered investment consultant certificate number: S02606 13020024)
Third, the market review
Market comment: The market is more and more on the sidelines. It is necessary to flexibly control positions in operation, and stock selection should be based on performance fundamentals.
On Wednesday, the three major indexes of A shares fluctuated and fell back. At the close, the Shanghai Composite Index fell 1. 12% to close at 337 1.96. The Shenzhen Component Index fell 1.84% to close at 137 16.53. Growth enterprise market index fell 1.76% to close at 2697.83 points. The total turnover of the two cities was 796.5438+0.5 billion yuan. In terms of sectors, ships, gas, heat and coal were among the top gainers, while securities, mask aligner and electronic payment were among the top losers. On the whole, individual stocks fell more and rose less, and the market as a whole had a strong wait-and-see mood. It is expected that the short-term market will still fluctuate, and positions should be flexibly controlled in operation, and stock selection should pay due attention to performance fundamentals. In terms of industry allocation, we can pay attention to the following main lines: 1), and pay attention to the blue chips of finance and transportation such as banks and insurance with low valuation; 2) Pay attention to procyclical industries such as nonferrous metals, chemicals and automobiles; 3) Pay attention to digital currency, semiconductors, new energy and high-end equipment. 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 view: The semiconductor industry is booming, and the leader in packaging and testing industry is welcoming performance flexibility.
Event: Thanks to the increase in demand for components of 5G products, the shipment of automotive electronics and consumer electronics products, and the restocking of the industrial chain after the epidemic, the global semiconductor industry chain has a high degree of prosperity. The production capacity of TSMC, UMC, SMIC and other fabs in the middle reaches is full, which drives the production and sales of the downstream sealing and testing plants to flourish. In the past 20 years, the overall production capacity of Q4 has been in short supply, and leading packaging and testing enterprises began to gradually raise prices to cope with the lack of market production capacity.
Comments: The domestic packaging and testing industry accounts for 60% of the global market, and its global position has been rapidly improved, which is expected to enjoy a higher prosperity in this round of industry. In recent years, the technical ability of the mainland sealing and measuring factory has been rapidly improved, the capital expenditure has been more active, the market share has been accelerated, the future profitability has been significantly improved, and the profit space has the potential to increase exponentially. Relevant leading companies that benefit from it deserve special attention.
(Investment Consultant Gu registered investment consultant certificate number: S026066 1 1020066)
National defense industry: Chang 'e V will return to the earth at the right time, and the space development will go to the next city.
The mission of Chang 'e to the moon is coming to a perfect conclusion, but it also shows China's confidence in becoming a space power and its strength in developing the space industry. We expect that the national space flight will enter a new track in the future, and relevant leading companies are expected to continue to benefit.
(Investment Consultant Gu registered investment consultant certificate number: S026066 1 1020066)