Key recommendations
Shanghai Stock Exchange: Timely launch of market maker system research and introduction of single T+0 transactions
National Development and Reform Commission: Accelerate the construction of oil and gas pipeline networks and reserve projects , promote the fair opening of pipeline network facilities
Market Comments
Market Comments: Weekend news is warmer, be cautious in short-term long positions
Non-ferrous metal industry: strategic resources welcome the triple Catalytic
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Futures Information
Metal Energy: Gold 397.14, up 0.81%; copper 44120, up 0.66%; rebar 3522, up 0.74%; rubber 10400, down 0.53%; PVC index 6075, up 1.17%; Zheng Chun 1708, down 0.23%; Shanghai Aluminum 13095, up 0.50 %; Shanghai Nickel 101060, up 0.67%; Iron Ore 735, up 2.15%; Coke 1893, up 1.42%; Coking Coal 1171.5, up 1.25%; Crude Oil 297.8, up 0.64%;
Agricultural Products: Soybean Oil 5676 < /p>
Exchange rate: EUR/USD 1.1105, up 0.25%; USD/RMB 7.1336, down 0.51%; USD/HKD 7.7511, down 0.02%. (The above futures data come from Shanghai Futures Exchange, Dalian Commodity Exchange, and Zhengzhou Commodity Exchange)
Key recommendations
1. Shanghai Stock Exchange: Timely launch of market maker system research and introduction of single T+0 trading
The Shanghai Stock Exchange responded to the suggestions of representatives on the capital market during the National Two Sessions in 2020, saying that it will launch a market maker system in a timely manner and study the introduction of single T+0 trading to ensure market liquidity. This ensures the normal realization of the price discovery function.
Comments: The so-called "single T+0" means that you can sell after buying during the day, or you can buy again after selling during the day. The operation is limited to one time in both directions. It is worth noting that in the current stock trading systems of Shanghai and Shenzhen stock exchanges, the funds after selling stocks can be used to buy stocks again (limited to 1 time), but they cannot be sold after buying. "Single T+0" is Whether the existing sell-buy can be sold again requires further clarification in the rules. With T+0 trading and the market maker system, the demand for financial IT technology in the securities industry will increase accordingly, which will benefit securities companies and companies whose main business involves financial IT technology. It is expected that relevant stocks will have opportunities for active performance in the short term, but the current weak situation Under this situation, the overall probability of starting related sectors is small, and heavy position operations are not recommended.
(Investment consultant? Cai Jin? Registered investment consultant certificate number: S0260611090020)
2. National Development and Reform Commission: Accelerate the construction of oil and gas pipeline networks and reserve projects, and promote fair and open pipeline network facilities< /p>
Xinhua News Agency reported that the National Development and Reform Commission’s “Report on the Implementation of the National Economic and Social Development Plan in 2019 and the Draft National Economic and Social Development Plan in 2020” proposed to steadily promote the production and supply of coal, oil, natural gas and electricity. We will build a storage and marketing system and oil reserve bases, and strengthen the regulation of coal, electricity, oil and gas operations. Continue to do a good job in oil and gas exploration and development, and accelerate the competitive transfer of oil and gas mining rights blocks. Accelerate the construction of oil and gas pipeline networks and reserve projects, improve the oil and gas pipeline network operation mechanism, and promote fair and open pipeline network facilities. Efforts will be made to promote the transformation and upgrading of coal power, actively and steadily develop hydropower, safely develop advanced nuclear power, maintain the reasonable development of wind power and photovoltaic power generation, and promote non-fossil energy to become the main source of growth. We will improve the long-term mechanism for the consumption and utilization of renewable energy power and actively promote new models of local and nearby consumption.
Comment: In the current low oil price environment, the demand for oil and gas reserves is highlighted. Accelerating the construction of oil and gas pipeline networks and reserve projects will be beneficial to stocks whose main business involves such businesses. It is expected that relevant stocks will have a higher probability of active performance in the short term.
(Investment consultant? Cai Jin? Registered investment consultant certificate number: S0260611090020)
Market Comments
1. Market Comments: Weekend news is warmer, short-term caution Go long
On Friday, the three major A-share indexes opened low and then oscillated higher, and finally closed in the red. The total transaction volume of the two cities was 572.3 billion yuan, and the net inflow of northbound funds was 7.422 billion yuan. Specifically, the Shanghai Stock Exchange Index rose 0.22% to close at 2852.35 points; the Shenzhen Component Index rose 0.87% to close at 10746.1 points; the ChiNext Index rose 1.54% to close at 2086.67 points.
On the market, concepts such as big consumption, Hainan sector, and Internet celebrity economy performed strongly, while weighted sectors such as finance and real estate performed weakly. Judging from the weekend news, the first is the trade friction issue between China and the United States, which is slightly better than expected overall. Another point is that the official proposed T+0 again, so overall the weekend news is relatively warm.
In the short term, the market may rebound, but due to the sluggish trading volume, we should not have too high expectations for the time and intensity of the rebound. In terms of operation, it is recommended to carry out half-position rolling operations, and it is recommended to pay attention to the leading varieties of big technology and big consumption, as well as the rare earth sector with expected price increases.
(Investment consultant? Yang Dong? Registered investment consultant certificate number: S0260615080007)
2. Nonferrous metal industry: strategic resources welcome triple catalysis
Domestic 2020 The total quantity control plan remains unchanged or slightly increased, but the increases are all for light rare earths and not for medium and heavy rare earths. At the same time, China has become the world's largest importer of rare earths, and Myanmar's imports have become the main supplement for medium and heavy rare earths. Myanmar's imports are expected to decline sharply again this year, which will, to a certain extent, support the domestic price of medium and heavy rare earths throughout the year. Policy expectations have increased, and rare earth prices are expected to continue their rise. Since Q1 of 2020, the price of rare earths has first risen and then fallen due to the outbreak of the global epidemic. The current price takes into account the risks of raw materials, environmental protection comprehensive costs and trade friction. From the perspective of the historical evolution of policies, the main policy directions may be: 1. "Inspection" The normalization of "strategic purchasing and storage" will bring sustainability, and the purchasing and storage of strategic varieties may become more targeted. 2. Light rare earth quotas may continue to increase. 3. Increase the application development of high-end rare earth functional materials. With policy expectations supporting the supply side, rare earth prices are expected to stabilize and rebound.
Comment: Rare earth concept stocks are susceptible to the impact of Sino-US relations in the short term. In the medium term, there are "expectations for purchasing and storing" of rare earths and rare earth prices are expected to stabilize and rebound.
(Investment consultant Yang Dong? Registered investment consultant certificate number: S0260615080007)