On January 4, as of the close, the Shanghai Stock Exchange Index rose 0.22%, recording three consecutive positives, the Shenzhen Component Index fell 0.2%, and the ChiNext Index fell 0.9%.
In terms of sectors, the real estate industry chain has strengthened in an all-round way, with home appliances, building materials, and home furnishing leading the increase, and banks are active; the concepts of fruit chains, semiconductors, coal, and lithium batteries have seen corrections.
Specifically, the paper-making sector was the largest gainer. As of the close, Yueyang Forest Paper, Anne Shares, and Kane Shares rose by the limit, and Hengfeng Paper and Forest Packaging followed suit.
The real estate development sector continued to be active, and many stocks such as Macrolink, Shuyuan Technology, and Sanxiang Impression had their daily limit.
The banking sector is booming across the board, Wuxi Bank rose more than 4%, Ping An Bank, Ningbo Bank, Jiangyin Bank, etc. rose more than 3%.
Wind data shows that the net purchase of northbound funds throughout the day was 1.844 billion yuan, of which the net purchase of Shanghai Stock Connect was 338 million yuan, and the net purchase of Shenzhen Stock Connect was 1.506 billion yuan.
【Institutional viewpoint】
Guosheng Securities:The recovery trend of domestic fundamentals remains unchanged, and macro funds are still abundant. Under the background of housing and housing instead of speculation, the “asset shortage” has formed a favorable support for the valuation of A shares. With the continuous improvement of economic data in the future, A shares are expected to Slowly rising amid shocks, the mid-level market will only get deeper and deeper. At present, the beginning of the year for A-shares may also be the allocation window for the subsequent large-level market. At present, it is recommended to maintain a balanced allocation of value slightly less than growth.
Sealand Securities:Although the market turnover has been enlarged, it is still not enough to support the overall strengthening of the market. From the current point of view, if the follow-up energy fails to be continuously released, the high-low switching of hot spots may be staged once more.
CITIC Securities:According to statistics, from 2007 to the present, A-share real estate refinancing excluding the asset injection part, from the announcement date of the plan to the issuance date, the absolute return of related stocks was 55%, and the relative return was 29%. Participating in real estate refinancing, the average absolute return for two years is 31%, and the relative return is 15%. It can be seen from historical data that real estate refinancing is generally profitable, and if you grasp the window from refinancing plan to issuance in the secondary market, you are more likely to obtain excess returns. The core reason for this situation is the time imbalance in the distribution of real estate refinancing.
