Main recommendations

The central bank lowered the winning bid rate of 7-day reverse repurchase to 2.20%.

Huawei released the second 5G chip?

Market review

Market comments: The news is warm inside and cold outside, and the market will continue to fluctuate and grind to the bottom, and the short-term operation is not radical.

Macro view: The central bank lowered the winning bid rate of 7-day reverse repurchase to 2.20%.

Computer industry: the demand for network security in the education industry will be promoted.

Futures information

Metal energy: gold 365.26, down 0.66%; Copper 38750, down 0.90%; Rebar 3274, down 2.82%; Shanghai Aluminum 1 1555, down1.37%; Shanghai nickel 93250, up 0.65%; Coke 1723.0, down 2.30%; Coking coal 1200.5, down1.92%; Brent oil was 32.06, down 3.29%; Rubber 9540, down 3.29%; Iron ore 600.0, down 3.54%; Fuel 1476, down 3.91%; Asphalt 1844, down 4.36%; Zheng Chun 1598, down 4.71%; The PVC index was 5 140, down 4.90%; PTA32 18, down 5.30%; PP5670, down 5.31%; EB446 1, down 5.49%; Shanghai Bank 3374, down 5.52%; Plastics 54 15, down 5.74%; EG3025, down 7.63%; LPG2382, down 8.38%;

Agricultural products: soybean oil 5540, up 0.73%; Corn 2033, up 0.94%; Palm oil 4928, up 2.58%; Zheng Mai 2626, up 0.54%; White sugar 5500, up 0.49%; Apple 6907, down 2.19%; Jujube 10270, down 0.10%; Zheng Mian 10655, down 3.00%; Rapeseed 4322, down 3.89%; Hard rice 3623, up 3.10%; Bean art 4739, up 3.74%; Late rice 287 1, up 3.91%; Hard rice 3008, up 3.94%; Rubber board 173.70, up by 8.83%;

Exchange rate: Euro/USD 1. 10, down 0.85%; USD/RMB 7. 10, up 0.06%; USD/HK$ 7.75, up 0.05%.

Second, the key recommendation

1. The central bank lowered the winning bid rate of 7-day reverse repurchase to 2.20%.

Event: On the 30th, the central bank announced that in order to keep liquidity in the banking system reasonably abundant, on March 30th, 2020, the People's Bank of China launched a 50 billion yuan reverse repurchase operation by way of interest rate bidding, and the winning interest rate was 2.20%.

Comments: The central bank lowered the bid rate by 20 basis points in this reverse repurchase operation, exceeding market expectations, releasing the signal that the central bank will strengthen countercyclical adjustment and guide the downward trend of social financing costs. At present, the downward pressure on the economy is increasing, and fiscal and monetary policies are expected to be more active and promising. In addition, the market is at a low valuation and there is no need to be too pessimistic about future performance.

(investment consultant Zhong Yanling registered investment consultant certificate number: S02606 13020024)

2. Huawei released the second 5G chip?

Event: On March 30th, Huawei released the first 5G chip Kirin 820 in 2020, becoming the first 5G mobile phone equipped with this chip within 30S. Kirin 820 is Huawei's second 5G SoC after Kirin 990. Using 7nm technology will have better comprehensive performance than 5G baseband chips in performance, heat dissipation and power consumption.

Comments: Kirin 820 chip adopts 7nm process, which has strong advantages over competing products in performance, heat dissipation and power consumption. The price of Glory 30S equipped with this chip is only 2399 yuan, which means that the price of mainstream 5G mobile phones will further drop, thus driving the further popularization of 5G mobile phones. The wave of 5G replacement is expected to become a reality this year, which will greatly promote the industrial chain. Affected by the epidemic, some related stocks in this round have a large callback, which is now a good opportunity to intervene.

(investment consultant Zhong Yanling registered investment consultant certificate number: S02606 13020024)

Third, the market review

Market comments: the news is warm inside and cold outside, and the market will continue to fluctuate downwards, and the short-term operation is not radical.

Affected by the news that it was warm inside and cold outside, the major stock indexes remained low and fluctuated on Monday. At the close, the Shanghai Composite Index reported 2747.38+0 points, down 0.90%. The Shenzhen Component Index reported 9904.95 points, down 2.03%; Chuangzhi Bao 1860.48 points, down 2.28%. From the disk, CSSC, planting industry and phosphorus chemical industry are in the forefront of the plate increase list, while cloud office, scenic tourism and network security are in the forefront of the decline list. The hype of the whole market sector is obviously divided. Before the external situation is not very clear, it is expected that the short-term market will continue to fluctuate and grind to the bottom, and the market will present local structural opportunities. The overall system is still difficult to rebound. In operation, it is suggested that the short-term is not radical. For varieties with clear performance growth and reasonable valuation, the medium and long-term lines can be laid out on dips. It is suggested to focus on: planting, UHV, new infrastructure, medical equipment, new energy, 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 view: The central bank lowered the winning bid rate of 7-day reverse repurchase to 2.20%.

Event: The central bank lowered the winning bid rate of 7-day reverse repurchase to 2.20%, down 20 basis points from the previous 2.40%.

Comments: The central bank restarted the reverse repurchase operation and lowered the winning bid rate. Official website, the central bank, showed that on March 30th, the reverse repurchase operation lasted for 7 days, with a bid amount of 50 billion yuan and a bid interest rate of 2.20%. On February 17, the winning bid rate of reverse repurchase was 2.40%. Since there was no reverse repurchase due on that day, the net investment reached 50 billion yuan on that day, indicating that the central bank further released short-term liquidity, which was conducive to alleviating short-term liquidity tension.

(investment consultant? Where's Gu? Registered Investment Consultant CertificateNo.: S026066 1 1020066)

Computer industry: the demand for network security in the education industry will be promoted.

In March 2020, the Ministry of Education issued a document again, demanding continuous network security monitoring and early warning to improve data analysis and situational awareness. Improve the construction of the network security notification mechanism of the education system. China's education informatization funds keep growing. According to the forecast data of Zhiyan Consulting, it is estimated that the budget will be 386.3 billion yuan by 2020, with a year-on-year increase of 14.26%. Industry leaders are expected to continue to benefit.

(Investment Consultant Gu registered investment consultant certificate number: S026066 1 1020066)