Can the coal rebound after two days and then rebound? Can it last?

On September 1st, the broader market opened down and fell down. The three major indexes hit a new low, and the GEM index fell for 7 consecutive days. On the plate, the coal sector has strengthened again, and the coal industry in Shaanxi has risen a record high. Zhengzhou Coal Power, Shan Coal International, and Jinzhong Coal Industry have risen. In terms of decline, some track stocks fell into adjustments again after the rise. Overall stocks fell more, and more than 2,900 stocks in the two cities fell.

The turnover of the Shanghai and Shenzhen cities on September 1 was 794.8 billion, a shrinkage of 207.6 billion from the previous trading day. As of the close, the Shanghai Index fell 0.54%, the Shenzhen Index fell 0.88%, and the GEM index fell 1.42%. The northbound fund was sold for 842 million yuan throughout the day, of which 2.092 billion yuan was sold at the Shanghai Stock Connect, and 1.251 billion yuan was bought by Shenzhen Stock Connect.

On September 1st, the coal sector performed strongly and led the market attack. The relevant industry ETF, ETF (515220), closed up 2.66%.

From the perspective of the news, the relevant departments published in the "Plus" magazine on September 1 "Accelerating the Construction of the Construction of a New Development Fair and Fight for Development A initiative". The news pointed out that accelerating the improvement of security development. The bottom line of maintaining security development is an important prerequisite and guarantee for building a new development pattern. We must adhere to the overall national security concept, coordinate development and security, and timely and properly dispose of risks and challenges in various fields. We will improve the supply and storage and storage systems of oil, natural gas, coal, and electricity to ensure the safety of energy and strategic mineral resources.

From a fundamental point of view, this week, listed companies have released the semi -annual report of 2022, and most companies have achieved great achievements. China Shenhua's realization of net profit attributable to listed companies was 411.14 billion yuan, an increase of 58.1%year -on -year; Yoshiko Mineral Energy's net profit attributable to listed companies was 18.037 billion yuan, an increase of 198.54%year -on -year; China Coal Energy's real profit was 13.377 billion yuan in net profit of listed companies 13.377 billion yuan , Year -on -year increased by 75.7%; Lai'an Environmental Energy (601699) realized net profit of 5.849 billion yuan in listed companies, an increase of 75.07%year -on -year. In the first half of the year, the growth of sectors mainly originated from coal prices in the first half of the year.

The first securities stated that coal companies are currently in good operating conditions, high dividend rates, and low valuations. It is optimistic that the price center of coal is constantly rising.

On the demand side, global aspects, the demand for summer peak adjustment and winter heating substitution is superimposed, and it is expected to promote the further rise of coal demand. Under the influence of the European energy crisis, the high temperature of this summer and northern hemisphere and the lack of supply of non -coal energy have further highlighted the peak adjustment effect of coal.

It is reported that in order to prepare for the winter, the German people have begun to buy coal balls, which also shows that the public's concerns about the uncertainty of supply protection this winter, which means that more marginal demand for coal is favorable.

The improvement of the demand for overseas markets and the steady improvement of coal prices have also brought some support to the domestic coal market. Pacific Securities pointed out that in the long run, in the long run, demand is expected to maintain a stable growth in the background of energy safety in the context of energy safety. The coal price center is expected to move up in the future, superficial high dividends that have been superior to the entire industry, and long -term coal investment value is highlighted. For the investment opportunities of the coal sector, investors can lay out coal stocks by one -click coal ETF (515220) to participate in coal stock markets. (For details, see "The weather is too hot, the photovoltaic high, don't forget the coal", "The future of the new and old kinetic energy, the future opening of the coal ETF")

On September 1st, the new energy sector continued to adjust, and the new energy vehicle ETF (159806) fell 1.50%. In August, the performance of the interim reporting of "King Ning" increased greatly, fulfilling the market expectations of investors in the second quarter. %, Also dragging the market performance of the new energy sector, and the decline in the new energy vehicle ETF during this period also exceeded 11%.

In the latest list of the monthly gold stocks of the September Securities Company, the figure of "King Ning" also disappeared rarely, and it also received recommendations from several securities companies in August.

Guosheng Securities said that the screening of the gold stock industry in September was considered based on the principles of performance, valuation, and congestion. CITIC Jianzhun pointed out that from the perspective of congestion, although the popularity of the track has fallen in the near future, it is still relatively high.

We have previously not sufficiently adjusted in the third quarter, focusing on coal, breeding, military industry, medicine and other sectors, and photovoltaic fluctuations "pointed out that in the long run, the new energy sector is still in a state of high prosperity, long -term high prosperity Donation represents the large market space of the sector. However, high elasticity and high fluctuations are also one of the characteristics of these high prosperity plates. Under the premise of rising in the early stage and high short term, the market may repeatedly fluctuating risks in the short term. In the future, you can encounter adjusting the new energy sector. Related targets include new energy vehicles ETF (159806), carbon neutral and 50ETF (159861), and photovoltaic 50ETF (159864).

It is reported that recently held relevant meetings to listen to reports on the supervision and service work of the economic market. The meeting pointed out that in response to the impact of the expected factors of the economic overwhelming, the policy tools that can be used in the past two years can be used in a timely manner to launch a policies and continuation policies in a stable economy in a timely manner. It is also mentioned that the "decentralized service" reform measures should be used to promote the efficiency of a policy of stabilizing the economy. The continuous policy rules should be out in early September, focusing on expanding effective demand and consolidating the foundation of economic recovery. The proposal of relevant policies is conducive to improving the prosperity of infrastructure and real estate industries, and thereby improving the demand for building materials. Affected by this, on September 1, Building Materials ETF (159745) rose 0.37%against the trend, and infrastructure ETF (159619) also fell slightly slightly. 0.11%.

Cinda Securities stated that the relevant meeting clearly clearly deployed the continuation policy and measures to deploy a policy of stabilizing the economy, and promoted the stability of the economy and maintained its operation in a reasonable range. Under such a policy environment, in the second half of this year, especially in the peak construction season, it will show a significant increase in construction and construction. It is expected that the order volume in the fourth quarter will also increase significantly in 2020. From the perspective of start -up. Cement demand in the Pearl River Delta, Beijing -Tianjin -Hebei and other regions has been restored, and it is expected that the construction of the third quarter will also increase. Later, you can continue to pay attention to related targets such as building materials ETF (159745) and infrastructure ETF (159619). (For details, "Huang Yue: The traditional peak season is approaching, the infrastructure building materials are expected to be upward?")

The pharmaceutical sector rose before September 1st. After the long period of time was adjusted, the medical sector valuation was low, and the overall state was a state of date. Among them, the vaccine sector performed the most dazzling performance. The vaccine ETF (159643) closed up 1.02%on September 1, and the premium rate in the market reached 0.3%.

After the vaccine vaccination is gradually normalized, the global and Chinese vaccine market may regain the growth of heavy varieties. Among my country's current non -immunological planning vaccines, a variety of new vaccines and multi -price vaccines (such as HPV vaccines, multiple vaccines, multiple vaccines, multiple Lian Miao, 13 -valent pneumonia -pneuming vaccine, tetravalent influenza vaccine, three generations rabies vaccine, etc.) are in the rapid volume period. With the continued listing of domestic high -priced HPV vaccines, shingles vaccines, and triple seedlings in the next few years Vaccination, three -generation rabies vaccine, and quasal influenza vaccine have increased in the number of enterprises in batch. my country's vaccine industry is expected to continue to grow. Investors can actively pay attention to investment opportunities for vaccine ETF (159643). (For details, please refer to "Liang Xing: Why is the vaccine that is" under the bottom and the upper and upstream "industry?" And "Medicine: short -term cautious and optimistic, long -term bottom upward").

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