Where is the foundation of investing in A shares in the second half of the year?

23JUN

Wen | Zhang Ying

"Toughness" and "independent market" have become high -frequency vocabulary in the recent description of the A -share market. Since June, on the occasion of overseas markets, the A -share market has gone out of independence. As of June 22, the cumulative increase of the Shanghai Stock Exchange Index, Shenzhen Stock Exchange Index, and GEM Indexes were 2.53%, 6.24%, and 11.32%, respectively. The prominentness of toughness has attracted much attention. For a long time, the toughness of A shares mainly comes from the strong toughness and fundamental support of the Chinese economy. At present, the core of independence is mainly the misplaced of China and other major economic cycles in the world. At present, the international situation is weird, my country's social development is stable, and the economic recovery is rapid, making China a shelter that is optimistic about global funds. U.S. inflation is high, and monetary policy has shifted from loose and rapidly. And my country's monetary policy adheres to stability, and "mainly me" has maintained high independence. From the perspective of the A -share market, after the adjustment some time ago, the average valuation of some major indexes in the A -share market is significantly lower than the mature market, becoming a veritable valuation "depression". Under multiple factors, the A -share market in June can be described as unique. Subsequently, the market market will enter the second half of the year. Can it continue to strengthen in the future? Will the investment logic change? Where is the opportunity? It has become the focus of discussion of the mid -term investment strategy of major institutions. The author believes that whether it is the continuous efforts of the policy, the economic recovery momentum is obvious, or the prosperity of some industries has risen, the growth of enterprises with profitable advantages accelerate the development, or the steady rise in the A -share market, and the turnover of consecutive days has made breakthroughs in consecutive days. Jill trillion yuan, etc., provide sufficient support for the market to continue to strengthen. In the case of the long -term and long -term investment logic of A shares, China's macroeconomic economy is still expected to lead the major global markets in the second half of the year, providing sufficient confidence in capital market investment. First of all, China's economy is steady. In the first half of the year, the steady growth policy has been densely landed and continuously develops. As the economy continues to recover, the economic growth is expected to go up. Some institutions are expected to rebound to about 5.5%in the second half of this year. Secondly, incremental funds will be accelerated. As the proportion of domestic residents' wealth allocation of equity assets continues to increase, the pace of wealth has accelerated, and the net value of holding funds has accelerated. In addition, the current dangerous capital position is at a historical low. Analysts predict that in the second half of the year, it may re -increase to the historical average level, corresponding to about 100 billion yuan in net inflows. At the same time, high -quality assets have continued to be increased by domestic and foreign funds. Since June, the northbound capital has returned to A shares. With reference to the inflow rate in 2021, the institution is expected to have a net inflow of northbound capital in the second half of the year. In addition, new energy from the left hand and growing high in the right hand is recommended by the industry as an important configuration direction in the second half of the year. In the context of abundant liquidity, with the launch of the semi -annual report performance, high -growth stocks that can continue to be fulfilled will undoubtedly become scarce resources. In addition, development of new energy is an inevitable trend to achieve sustainable development. Related favorable policies are frequent. Analysts generally believe that the new energy industry chain and the new energy vehicle industry chain contain huge investment opportunities. "Li Li is struggling, not to be negligent." Faced with various complex changes, the toughness of the A -share market is increasing. With the stable and good economic market, the foundation of China's capital market is also consolidated, which will definitely usher in high -quality development.

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Photo ｜ Site Cool Hero Bao Map Network Production | Zhou Wenrui

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