The three major indexes of A shares are low and low, and the bank stock micro -rising agency: the three major changes indicate that A -shares's turning point is approaching

Author:Securities daily Time:2022.09.29

Our reporter Zhao Ziqiang on September 28, the three major Indoices of A shares opened lower and low, the turnover of the two cities remained low, the northbound capital was sold, and the industry and individual stocks fell more. What is the investment opportunity in A shares? As of the closing of September 28, the Shanghai Stock Exchange Index fell 1.58%to close at 3045.07 points. It reduced by 2.85%compared with the previous trading day; the net sold of 3.840 billion yuan in northbound funds; in general, A shares rose 438 stocks and 4,463 individual stocks. In terms of application in the industry, there are only 1 category of 31 industries rising, accounting for 3.23%. Among them, the rising banking industry only rose slightly by 0.07%; in terms of decline, non -ferrous metals, national defense military workers and electricity equipment and other industries ranked in the top three. The declines were 5.25%, 3.75%, and 3.70%, respectively. In terms of daily limit, 43 stocks were closed at the daily limit. Among them, there were 13 limit stocks, and the stock price had risen more than 3 trading days. In terms of limit, 32 stocks have been closed for daily limit. From the perspective of the industry, the number of limit shares in industries such as light industry manufacturing, household appliances and textile services ranks among the top three, and the number of daily limit shares is 4. Tables: Rising for 3 days and the closing daily limit shares today. Table: Zhao Ziqiang's industrial institutions generally stated that market opportunities are greater than risks. Xia Fengguang analysis of Rongzhi Investment Fund manager pointed out that first, the most profound impact on global risk assets in the near future is the US dollar index and US debt trend. After the Fed raised interest rates in September, the US dollar and US debt were in the process of accelerating the top, and risk assets finally killed. Second, the policy surface is the core driving factor of the current A shares, and the long and short forces will change accordingly. Third, from the structural point of view, the last round of declines, the growth of the growth stocks was the deepest. However, since this week, the GEM and the pharmaceutical industry have rebounded strongly. The rebound of leading stocks is often a signal of systemic risks. Based on the above three major changes to judge, the market turning point is approaching. Lu Yu, chairman of Xiaoying Investment, said that the Shanghai Stock Exchange Index is far greater than risks near 3000 points. We reviewed historical data. From a longer time dimension, the PE valuation range of the Shanghai Exchange 50 Index is mostly between 7X-15X. In the past 10 years, Whenever the PE of 50 has fallen below 9X, there will be a strong rebound or even reversal. This law has appeared many times. As of today's close, this data is very close to the critical point of 9X. If it falls further below 9X, it is expected that the market will soon see the bottom. Hu Zhenyi, manager of Honghan Investment Fund, said that in the short term, there may be a downlink impact driven by the external market at the end of the month, and there is a uplink foundation in October. In addition to the lack of kinetic energy of the decline in the land volume, the performance of some industries in the third or four quarters of the industry is high. If a rebound in October and the level of confidence has changed, then the bottom will be close to the characteristics of the previous historical bottom. Jiang Jingwen, director of investment investment, believes that the market is at the bottom and provides a chance to buy, including the opportunity for new energy and consumer pharmaceutical sectors. In terms of operation, Xia Fengjing believes that at least a wave of intermediate rise in October. Before the holiday, you can raise positions in time and hold the holiday. You can focus on the two main lines, one is the ultra -decline section, and the other is the main line of steady growth. On September 28, the sunrise Oriental 5 consecutive rose, and the sunrise Oriental rose 10.03%to 11.30 yuan. Since September 22, the stock has risen for 5 consecutive trading days as of September 28, with a cumulative increase of 37.47%. The last three trading days have continued to close the limit. The latest A -share market value of the stock is 9.284 billion yuan, and the market value of A -share circulation is 9.040 billion yuan. According to the public information released by the Shanghai and Shenzhen Exchange on September 28, 2022, the sunrise oriental appeared on the Dragon Tiger List due to the daily increase of 7%due to the daily increase value. Essence Public information shows that the EU will formulate a "digitalization of energy system" and will be officially announced this week. It is reported that the plan will require the European Union to invest 565 billion euros in infrastructure by 2030 to achieve its green plan and end dependence on Russian fossil fuel. The installation of 10 million heat pumps in the next 5 years is one of the plans. In 2021, the main Solar water heater revenue of solar water heaters accounted for 40%, kitchen appliances revenue accounted for 21%, and air -energy heat pump revenue accounted for 14%. The company's distributed photovoltaic business has begun to take shape, and has won the distributed photovoltaic project in Guannan County. The company currently adopted on large -scale heat storage heating projects refers to storing the surplus heat source heat in the heat storage body by layered heat storage steel tanks or heat storage pools. , Living hot water or industrial and agricultural applications. On September 28, bank stocks led, and the banking industry led the banking industry in the industry, slightly rose by 0.07%. There were 20 stocks in the 42 transactions in the industry rose, accounting for 47.62%, of which the two stocks increased by more than 2%. Regarding the performance of bank stocks today, Xia Fengjing said that there are three reasons for the strengthening of bank stocks. First, the valuation of bank stocks is in a very low position, and some bank stocks even hit the lowest level of history.

Second, bank stocks have a lot of dividends, and some state -owned bank's dividend rates are more than 6%. This is in sharp contrast to the bank wealth management yield that has fallen below 2%. To a certain extent, it can be said that buying financial management is better to buy bank shares directly. Third, the increase in major shareholders or executives will help boost market confidence. Banks have the characteristics of high leverage operations and closely linked macroeconomic linkages. Currently in the cycle of economic decline, the bank's valuation is suppressed. The macroeconomic data in August has improved initially, and the continuous reduction of deposit interest rates will also help alleviate the pressure on bank liabilities. If the macro fundamentals improve in the fourth quarter, the bank will usher in the repair of valuation. In terms of investment targets, Northeast Securities Recommended: ① "Growth" and "Value" both: Changshu Bank; ② City Commercial Bank with location advantages: Bank of Jiangsu, Bank of Nanjing, Wuxi Bank; ③ Fundamental excellent, stable varieties: China Merchants Bank. Picture | Site Cool Hero Bao Map.com | Zhang Xin Nucle