The Shanghai Index rose nearly 1%, and the coal industry soared more than 5%. Organizations: Signs of switching to low -level sectors
Author:Securities daily Time:2022.08.26
Our reporter Zhang Ying Zhang Ying on April (August 25), the three major indexes shocked and differentiated, and there were different rise and fall. The coal industry has risen again, up more than 5%. It can be seen that under the leadership of structural conditions, the market style has been switched. How to seize investment opportunities in the A -share market? From the perspective of Shen's one -level industry, today, 20 industries have achieved rising. Among them, the coal industry has risen 5.22%, followed by followed by industries such as petroleum petrochemicals, non -silver finance and transportation. %. In addition, industries such as power equipment, machinery and equipment, and comprehensive fell more than 1%. In terms of the daily limit board, on August 25, 71 stocks rose daily limit. Among them, there were 12 daily limit stocks, and the stock price had risen more than 5 consecutive trading days. From the perspective of the industry, the power equipment and transportation industry has the largest limit, and 7. Table: Today's daily limit and more than 5 days of stocks: Table: Zhang Ying's recent market performance, Zhi Kai's chief strategist Liu Wei believes that recently, small and medium -sized market value stocks have significantly excess investment opportunities, but some stocks have some stocks, but some stocks The stock price has been significantly overvalued, and the growth expectations of overdrawing in the future will be used in the future. Once this expectation is uncertain, the stock price recovery is a normal phenomenon. However, this back -to -adjustment space is limited, loose liquidity status and stable growth expectations have strong support for the downlink of the index. In the future, investors are worth paying attention to the differentiation of the internal differentiation and switching of style assets within the market. Yao Xusheng, a wealth management partner of the private equity network, said that recently, the problem of continuous inflation and other issues in the world has adversely affected the expectations of economic growth and caused the pace of economic recovery to slow. In the face of the current market, investors do not have to be overly pessimistic. At present, the overall domestic policy environment is loose. The central bank adheres to the stable monetary policy, reduces interest rates to reduce market financing costs and help support the development of the real economy. Short -term profit and empty are easily repaired over time, and will not affect the trend of gradually stabilizing the future market. Tu Jun, the general manager of Chengdu Junhai Capital, believes that recent market funds have shown signs of switching from high sections to low sectors. Financial and consumption in the low -level sectors have recently rebounded. At present, we are optimistic about the two directions: 1. Traditional energy, such as power coal, has difficulty in adding new capacity of traditional energy, and demand is still growing every year before carbon peaks. At the same time The difficulty of domestic supply and demand is relieved by imports. As the prosperity cycle is stretched and the proportion of dividends rises, the industry will have a valuation increase. In addition, due to a large amount of cash in hand, companies in the industry are also using retention income to make new energy transformation layouts, which further enhances the imagination space. 2. Due to the scarcity of energy, it will lead to scarcity of high energy -consuming products. It is optimistic about high energy -consuming industries such as phosphorus, silicon, and aluminum in China. COSCO Hyte 11 consecutive rose more than 110%on August 25. On August 25, the popular stocks, Nakahae Hyte's daily limit, as of the close, reported at 9.68 yuan, achieved 11 consecutive rises, and the cumulative increase of 110.89%during the period. CITIC Construction Investment Securities believes that the company is the leading transportation of special ships in the world and benefits from the global wave of new energy development. Global special ships transport leaders and focus on the "dual -core dual -chain" development strategy. Prioritize the development of semi -submarine ships and pulp boats "dual -core" fleets to expand the pulp logistics industry chain and engineering project logistics industry chain. The coal industry rose more than 5%on August 25, and the coal industry rose 5.22%. Among them, the four coal stocks such as Yoshiyura Energy, Shanghai Energy, Jinkong Coal Industry, and*ST will have a collective daily limit of coal stocks in the future. Regarding the investment opportunities of coal stocks, CITIC Securities analysis believes that the short -term market sentiment is gradually recovering, the decline in hydropower forces and the continuity of high temperature weather, and the demand for coal is improved. We continue to be optimistic about the expansion of domestic coal demand in the second half of the year. Policies such as stable growth are expected to drive the industry's mid -term demand. Overseas coal prices are also expected to be strong in the winter season. It is expected that domestic prices will be better in the second half of the year. We recommend that we continue to pay attention to low -valuation leading companies, Shaanxi Coal Industry, Yankuang Energy, Electric Investment Energy, La An Energy, Shanxi Coking Coal, and Huayang Co., Ltd., which are actively transformed into new energy. At the same time, Cinda Securities stated that the duration and scale of energy inflation in this round may exceed the market's general expectations. It is expected that the coal price center will continue to rise within 2-3 years. Under the logic of large energy inflation, grasping high -quality coal companies with high barriers, high cash, and high -scalpa, and greeting a historic market for a round of performance and valuation of the coal plate. We continue to look at the multi -coal sector, and we recommend continue to pay attention to the historic configuration opportunities of coal. From bottom to top, two main lines: first, Yankuang Energy, Shaanxi Coal Industry, China Shenhua, China Coal Energy, etc. with large space and extension of the endless extension, excellent resource endowment, and good company governance; There are high -quality alchemy companies with growth space, Pingjiang, Panjiang, Huaibei Mining, Shanxi Coking Coal.
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