On Tuesday, the three major stock indexes of A shares closed up across the board. The total turnover of the two cities was 869.2 billion yuan; The net selling amount of northbound funds was 3.899 billion yuan. Disk observation: basic chemicals, nonferrous metals, national defense and military industry were among the top gainers, while beauty care, banking, agriculture, forestry, animal husbandry and fishery were among the top losers. At the close: the Shanghai Composite Index rose 1.36% to 3,243.45 points; The Shenzhen Component Index rose 1.04% to 1 1799438+0 points; The GEM index rose 0. 10% to 2540.64 points.
market outlook
In the news, the State Council held a routine briefing on the State Council policy, and the relevant officials of the People's Bank of China, the Ministry of Finance, the Ministry of Commerce and the National Development and Reform Commission introduced the policies and measures deployed by the State Council to implement a package of stable economic policies. We briefly summarized several aspects: seize the golden period of construction in the third quarter and speed up the implementation of project construction; Guide financial institutions to transmit the effect of the decline in deposit interest rates to the loan side; Further promote consumption in key areas such as automobiles, home appliances and homes; Study and appropriately expand the investment field of special debt funds and the scope of special debt as project capital; Monetary policy will consider the relationship between stable growth, stable employment and stable inflation. The continuation policy will work together from both ends of supply and demand, focus on expanding effective demand, promote investment and consumption to increase employment, strengthen energy supply security, stabilize grain production, ensure smooth logistics, and continuously reduce the burden on market players, which is conducive to further consolidating the foundation of economic recovery and effectively enhancing the development potential.
In addition, yesterday we specifically mentioned "national defense security"! The National Computer Virus Emergency Response Center released a heavy news that the US National Security Agency has carried out tens of thousands of malicious cyber attacks on network targets in China (including the recent Northwestern Polytechnical University) for many years, with the main purpose of stealing all kinds of high-value data. According to the website of the Ministry of National Defense, the "Oriental -2022" military exercise of Chinese armed forces lasted from September 1 day to September 7, with 13 countries participating. It is predicted that under the background of training and preparing for war during the Tenth Five-Year Plan period, the frequency of multi-dimensional exercises will be greatly improved, and all links in the industrial chain will continue to benefit. According to the statistics of the just-released semi-annual report in 2022, the overall revenue and net profit of the military industry maintained steady growth, with the performance of the materials sector and the aviation sector growing rapidly. At the same time, the steady growth of the military sector has also attracted the attention of institutions. In the second quarter, the market value of active military industry in Public Offering of Fund accounted for 4.76%, with an over-allocation range of 1.75%, which was over-allocated for eight consecutive quarters.
?
Operation strategy
Maintain yesterday's view: the market may remain volatile in the short term, but considering that it is currently one of the "cheapest" 3200 points in history, many high-quality targets have fallen out of the medium and long-term allocation value; For the high-booming but overvalued target, it is right to hold or sell it, because it is impossible to predict the bubble expansion period; However, for underestimating the target, it is suggested that positions can be opened in batches because the lowest point cannot be grasped; Attach importance to energy security, food security, financial security and national defense security.
Zhao, chief investment consultant of GF Securities, with the license number of S02606 140600 14.