Disk observation On Friday, the three major A-share stock indexes collectively showed a trend of opening lower, moving higher and then falling back.

The total transaction volume of the two cities was 1.0062 billion yuan; the net purchase volume of northbound funds was 457 million yuan.

Disk observation: Culture, education and leisure, coal, semiconductor and other sectors were among the top gainers; while mineral products, gas and heating, aviation and other sectors were among the top losers.

As of the close: the Shanghai Stock Exchange Index fell 0.96% to 3447.65 points; the Shenzhen Component Index fell 1.37% to 13020.46 points; the ChiNext Index fell 1.55% to 2748.64 points.

Outlook for the Market Outlook Since the beginning of last year, we have mentioned one sentence on various occasions: the mid- to long-term consequences of this epidemic crisis are still unclear, but the global political, economic, and geopolitical landscape may undergo century-level changes.

The recent changes in the situation in Eastern Europe that have attracted global attention are actually still essentially a game of global economic recovery and industrial chain competition in the post-epidemic era. We insist not to talk about politics. The direct impact of geographical changes on the capital market and the indirect impact of changes in supply and demand are also

I have explained it repeatedly, but the capital market will eventually return to its own operating rules.

Since the end of last year, we have mentioned three key words on various occasions: rejuvenating the country through technological innovation, energy revolution, and stable growth!

Rejuvenating the country through science and technology: Since the "New Era" proposed by the 19th National Congress of the Communist Party of China, my country's economic development has shifted from a stage of rapid growth to a stage of high-quality development. The core of the shift from "quantity" to "quality" is qualitative improvement; "New Era" Emphasizing the transformation of economic momentum, the scientific and technological revolution and industrial transformation are giving rise to a new round of industrial revolution on a global scale. Advanced manufacturing has become an important policy focus. Later, there will be internal and external environmental pressures such as Sino-US frictions to drive China towards global value. The high-end upgrade in the chain; whether this move can be made well or not will determine the future direction of China's manufacturing and even China's economy.

Energy revolution: "Carbon will peak before 2030 and achieve carbon neutrality before 2060"; the energy revolution is the focus of global fiscal policy and sets the tone for national green development strategies; it is the beginning of the third energy revolution and

The important support of the fourth industrial revolution marks the turning point of the green industry cycle; it is a large-scale deterministic theme during the 14th Five-Year Plan period and even longer, and will revolutionize industries such as new energy, chemicals, construction, and environmental protection.

Far-reaching impact; contains huge investment opportunities in related themes in the medium to long term.

Stable growth: After many years, in the context of changes in the epidemic and global situation, in order to hedge against the increasing downward pressure on the economy, the urgency of "stabilizing economic growth" in my country has been greatly increased in the short and medium term starting from the end of last year. ; The economic cycles of China and the United States have begun to show highly out-of-sync characteristics, and China and the United States have also shown completely opposite differences in periodic monetary policies. China still has "many cards" (control policies) to play, and some investments that were previously tight and financial policies began to relax.

The operational strategies are worth noting: stable growth (big finance and big infrastructure), energy revolution (carbon neutral new energy), scientific and technological power (big technology and big military industry) itself is more like a "policy balance" that needs to be balanced but in practice it is difficult to achieve a perfect balance.

"Impossible Triangle"; when short-term policies are biased towards "steady growth", "technological innovation power" and "energy revolution" may gradually weaken at the margin, but their long-term goals will not change; and the recent gratification is that the main line of steady growth

There are signs of gradually spreading from the traditional cycle to growth sectors such as new infrastructure.