On Wednesday, the three major A-share stock indexes opened mixed, but basically showed a pattern of low opening and high volatility, and closed at a relatively high level all day. The total turnover of the two cities is 78865438+59 million; The net purchase of northbound funds was 2.008 billion. Disk observation: new energy vehicles, coal, medicine, semiconductors and wine-making sectors were among the top gainers; Public transportation, telecom operation, banking and other sectors performed poorly. Closing: Shanghai Composite Index rose 0.42% to close at 3,457.07 points; The Shenzhen Component Index rose 0.94% to close at 14398.38; The GEM index rose 2. 16% to close at 3050.58 points.
market outlook
There are still two trading days before the May Day holiday. If investors with capital needs may choose to sell on Thursday, there will be some pressure on the capital, but considering the current market environment and technical support, it is expected that the pressure will not be great; Moreover, northbound funds have been bought for four consecutive days (the total net purchase for four days is 654.38+06.583 billion yuan), which also shows that foreign capital is not pessimistic about the current position of A shares; Therefore, on the whole, it is expected that the pre-holiday stock index will not make directional selection in a high probability, and will still maintain the range contraction shock, with insufficient upward momentum and strong downward support. Don't chase up or kill down!
In fact, this wave of market recovery since mid-April mainly comes from two reasons: First, the yield of US 10-year government bonds, the "US stock valuation anchor", fell again, which pushed up the valuation repair of US stocks in the opposite direction, and also promoted the valuation repair of A-share growth sectors (especially the Growth Enterprise Market); Second, the publication of A-share listed companies and the first quarterly report of Public Offering of Fund made market institutions re-examine and think about their previous "shareholding" and readjust their trading strategies. According to the quarterly report of Public Offering of Fund, many big-head fund managers have not been affected by the cyclical fluctuation of the market and the mood of "holding shares pending", but have shown strong strategic stability and consistency in stock selection, especially the food and beverage, medicine, semiconductor electronics and other industries with high performance certainty and booming industries are still the sectors with the highest proportion of fund allocation, and the allocation focus of some industries is still moving up. However, it must be pointed out that the idea of institutional allocation is more long-term (more than one year or even several years), during which a variety of professional investment tools and operational means will be combined, and ordinary investors are not advised to simply follow suit.
Operation strategy
It is expected that the pre-holiday stock index will not make directional choices with a high probability, and will still maintain a range of shrinking shocks with insufficient upward momentum and strong downward support, so don't chase up and kill; The idea of institutional configuration is more long-term, and a variety of professional investment tools and operation methods will be combined during the period. Ordinary investors are not advised to simply follow suit; In our recommended configuration, the general concept direction is still procyclical+carbon neutral, while in the industry sector, it is recommended to pay attention to new energy, semiconductors, military industry upstream and medical care.
Zhao, senior investment consultant of GF Securities, has the practice certificate number S02606 140600 14.