A large adjustment of photovoltaic and new vehicles

On August 31, the main stock indexes of the two cities opened low and went down, and the market was sharply expressed. The index declining has narrowed, and the Shanghai Composite Index once became popular, but the market fell again. As of the close, the Shanghai Composite Index fell 0.78%, successfully closed above the 3200 mark. The Shenzhen Stock Exchange Index fell 1.29%, and the GEM index fell 1.6%. From the perspective of the market, market funds continue to switch between high and low levels. Baijiu, pharmaceutical, medical, finance and other sectors have risen the top, and the race sector that performs strong in the early stage such as photovoltaic and new vehicles, such as photovoltaic and new cars.

In terms of turnover, the turnover of the two cities exceeded the trillion mark on August 31. In terms of northbound funding, the net inflow of 7.9 billion yuan on August 31, of which the Shanghai stocks were flowed 4.519 billion yuan, and the deep shares flowed for 3.381 billion yuan. It is worth mentioning that in the afternoon, the acceleration of funds from the northbound capital has been accelerated, which has promoted the stopping and stability of the A -share market.

Recently, the flow of funds in the north direction, the data comes from Wind

From the perspective of the market, the market funds were switched at high or low, and the new energy tracks with strong performance in the early stage appeared on August 31. The photovoltaic 50ETF (159864) fell 6.09%. New Energy Vehicle ETF (159806) also fell 3.67%.

According to the news, some media claimed that Buffett had reduced its holdings for the first time since BYD, and sold more than 5 million shares. In addition, in the fundamentals, the two listed companies of lithium ore have announced their spoiled performance. A net profit of 10.3 billion increased 119 times and a net profit of 7.2 billion increased by more than 400%. Sustainable doubts, short -term market differences have increased. In addition, since the market rebounded in May, the overall rebound of the new energy sector was amazing. The maximum increase in photovoltaic increases exceeded 70%, the maximum increase of new energy vehicles exceeded 65%, and the funds chip end also loosened.

From a fundamental point of view, the new energy sector is still in the prosperity cycle. For example, photovoltaic, the installation of the first half of the year continues to exceed market expectations, and the demand for the second half of the year is also relatively strong. Next year, it is still a state of continuous high increase. The vigorous development of overseas markets has further boosted the market demand. For example The policy of exempting new energy vehicles for purchase tax is postponed to the end of next year. In the middle and long term, under the long -term dual carbon policy, it is a big change direction for new energy vehicles to replace fuel vehicles. As the penetration rate of new energy vehicles continues to increase, the industrial chain is expected to maintain higher growth.

We have not sufficiently adjusted in the third quarter, paying attention to coal, breeding, military industry, medicine and other sectors, photovoltaic fluctuations "expressed long -term optimism of photovoltaic, and also expressed concerns about the short -term increase. However, it is worth pointing out that long -term high prosperity represents the space for market growth, but high fluctuations and high elasticity are the characteristics of the growth sector. It is normal for a certain amount of adjustment in the short -term market. Participate in batches.

Affected by the switching of funds, pharmaceuticals and medical sectors that continued to decline in the early stage rose before August 31. Among them, biomedical ETF (512290) rose 1.37%, medical ETF (159828) rose 1.28%, and innovative medicine CSI ETF ETF (517110) rose 0.59%, and the vaccine ETF (159643) rose 0.72%.

For the pharmaceutical sector, after a long time of adjustment, the current advantage is that the valuation is really cheap. On the whole, it is a section that may have a bottom, and the upward space can be expected.

It's just that the time point to switch from the left to the right is really unknown, and the catalysts in the market have not yet come. Recently, these news news has been released, so the market is always worried that the pharmaceutical sector may continue to be suppressed by the policy. In addition, there are some potential concerns in medicine in the short term. For example, the expenditure of public health incident funds may compress our expenses in other medicines. The fundamentals of other pharmaceutical businesses except public health incidents will have more or less influence. However, if you look at the financial report, the fundamentals of the pharmaceutical sector are still good, and from the perspective of long logic, the per capita life expectancy and the consumption upgrade brought by the improvement of living standards will support the long -term needs of the pharmaceutical industry.

Later, you can continue to pay attention to related targets such as biomedical ETF (512290), medical ETF (159828), innovative medicine CSI ETF (517110), and vaccine ETF (159643). For details, ("Medicine: Short -term Care and Optimism, Long -term bottom upward" and "Liang Xing: Why is the vaccine" a "bottom and upper and up -to -date" industry? ").

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