Although the U.S. stock market staged a deep V rebound last Friday, it maintained its downward trend on March 8. After opening high, it quickly retreated. Institutional heavy stocks continued to be the hardest hit. Longi, Tongwei, and Sungrow in the photovoltaic sector fell by more than 5 %, liquor, military industry, semiconductors, and medical services have all weakened. The Wind Mao Index turned from a rise to a fall, and fell 2.92% on the morning of the 8th.
The net outflow of northbound funds exceeded 5.6 billion yuan.
Hong Kong stocks also plunged sharply. The Hang Seng Technology Index continued to fall sharply during the intraday session, with the decline widening to 5%. It rose more than 1% at the beginning of the market. Hong Kong stocks with heavy positions in a number of institutions continued to dive. GCL-Poly Energy plunged 14% at one time and WuXi Biologics , Gome Retail, Xindong Company and other popular stocks plunged more than 9%.
Baotuan stocks continue to be under pressure
Last Friday, the U.S. stock market staged a major reversal. The Dow rose more than 570 points or 1.86% to achieve an 800-point reversal; the Nasdaq also recorded a 500-point reversal, with a maximum of more than 320 points in the intraday decline. The S&P 500 index rose 1.95%. At the same time, at noon Eastern time last Saturday, the U.S. Senate voted to pass Biden’s $1.9 trillion (approximately 12 trillion yuan) economic stimulus plan.
The positive external disks are superimposed. On March 8, the two A-share markets opened higher and the three major indexes all rose more than 1%. The iron and steel sector rose sharply, while the petroleum, chemical fiber, chemical, and non-ferrous sectors saw gains.
But the good times did not last long, and the A-share index plunged to green after half an hour of opening. As of the midday close, the Shanghai Composite Index fell 1.01%, the Shenzhen Component Index fell 1.91%, and the ChiNext Index fell 2.68%. On the disk, mining services, registered sub-new shares, carbon neutrality, nuclear power, dyes, environmental protection engineering and other sectors ranked the top gainers; liquor, military industry, plantation and forestry, photoresist, hotels and catering sectors were the top decliners. The Wind Mao Index plunged 2.92%, and has fallen 19.6% since its high on February 18 this year. The net outflow of northbound funds on the 8th morning was 5.6 billion yuan.
The institutional heavy storage industry continues to be the hardest hit by the decline. Liquor stocks continued to fall, and the sector index fell to 3%. Luzhou Laojiao fell more than 7% to lead the decline, Gujing Gongjiu fell more than 6.9%, Shanxi Fenjiu fell more than 6.5%, Yanghe shares, Wuliangye, Shuijingfang fell more than 4.3%, and Moutai fell nearly 2%. Since the beginning of this year, the liquor index has fallen by 22%.
The military, pharmaceutical, and photovoltaic new energy sectors are also under pressure. The Shenwan National Defense and Military Industry Index plunged 3.8%, ranking first among all industries. Among them, Aeroengine Power had a lower limit, AVIC Shenfei approached the lower limit, AVIC Xifei fell by more than 8%, and Hongdu Aviation and Aeroengine Control followed the decline.
The photovoltaic new energy sector continued to fall. Sungrow fell nearly 9%, compared with the high of this year’s share price has fallen 37%, Tongwei shares fell 8.7%, Longji shares fell more than 8%.
More institutions are bearish on new energy companies. Daiwa published a research report, referring to the stock price of Goldwind Technology (2208.HK), which has fallen by 17.6% since March 2. The National Energy Administration recently issued a consultation document seeking opinions on the development opportunities of wind power and solar energy. The document shows that the wind power installed capacity will slow down this year, which will have a negative impact on upstream manufacturers. It is difficult for wind turbine manufacturers such as Goldwind to transform. , Downgraded the company’s rating to underperform the market, and the target price was reduced from 14.3 Hong Kong dollars to 13.5 Hong Kong dollars.
Part of the performance exceeded expectations, individual stocks bucked the market and strengthened
BY-HEALTH drove high, once the daily limit, rose by 20%, reported 28.08 yuan, the stock price hit a new high during the year, and the market value exceeded 40 billion yuan.
The company released its 2020 annual report and first-quarter performance forecast. The annual revenue was 6.095 billion yuan, an increase of 15.83% year-on-year, and the net profit was 1.524 billion yuan, an increase of 528.29% year-on-year. At the same time, the company released a performance forecast for the first quarter of 2021, achieving a net profit of 7.22-829 million yuan, a year-on-year increase of 35% to 55%.
Huachuang Securities believes that the offline and offline sales of By-Health’s epidemic have remained stable, and the online growth rate has been dazzling; due to the impact of investment income and consolidation, the annual performance has increased significantly, and the first quarter has a good start; a new round of three The annual growth cycle has started, and we are optimistic about moving forward quickly throughout the year; the leading companies on the growth track have a low valuation and a strong improvement in their value.
Sinoma Technology also has the same daily limit of soaring performance. Sinoma Technology expects a net profit of 484 million to 605 million yuan in the first quarter of 2021, a year-on-year increase of 100% to 150%.
Hong Kong stock technology companies dived sharply
At the beginning of this year, some institutions called out “Crossing Hong Kong and competing for pricing power”, after the Hong Kong stock market fell sharply for several days, it became true. Hong Kong stocks quickly dived after opening higher on March 8. As US stock index futures plunged during the session, the Nasdaq and S&P 500 index futures turned down, down 0.76% and 0.11% respectively, driving the decline of technology stocks in the Hong Kong stock market to expand, and the Hang Seng Technology Index fell 5%. Among the constituent stocks, Xindong and Weimeng led the decline by more than 9%; among large-cap technology stocks, Tencent fell 3.4%, Meituan fell nearly 7%, Jingdong fell nearly 5%, Xiaomi fell more than 5%, and Kuaishou fell more than 3 %.
The only bright spot in Hong Kong stocks is the telecommunications stocks. Among them, the three major telecommunications stocks of Hong Kong stocks all rose sharply. China Telecom once rose more than 6%, which was the best, China Unicom once rose nearly 5%, China Mobile once rose 4%, and Hutchison Telecommunications Hong Kong all rose.
According to data, since the end of the Spring Festival holiday (February 18), China Mobile has received large purchases from southbound funds. The stock market value of Southbound Trading increased by 22.4 billion Hong Kong dollars, and the number of shares held increased by 250 million shares. During the same period, China Telecom’s holdings Also increased by 270 million shares. Credit Suisse pointed out that the revenue of Chinese telecommunications companies accelerated in the fourth quarter of last year, giving the market regain confidence in the fundamentals of the industry. China Mobile is the industry’s first choice because of its attractive dividend payout ratio of 6.1%.
Regarding the market outlook, CITIC Securities believes that A shares have entered a quiet period in the “slow rise trilogy”, and the market has bottom and pressure. The expectation of marginal changes in monetary easing has suppressed the valuation of US stocks, and it is expected that there will still be room for adjustment of about 10% in this round of US stocks. The domestic “two sessions” policy is in line with expectations, and the liquidity of the A-share market is still in tight balance. During the quiet period, the configuration value of the new mainline is increasing, including monthly financial and procyclical sectors, the theme of “carbon neutrality”; quarterly science and technology and national defense security, and the restoration of the mainline of industries damaged by the epidemic.
China Securities Investment believes that the A-share market has continued its volatility and decline, and the decline has slowed, which is consistent with the previous judgment. After the two sessions, China’s economy is still operating steadily in the boom, and the PPI price level is worthy of attention. Currently, the two main lines driving the market are the rise of China’s credit interest rates and overseas recovery. Under this circumstance, the prosperity of banking, chemical industry, transportation, scenic spots and other industries will continue to improve, and they will become dominant industries in stages. In the long run, high-end manufacturing and technological innovation are still worthy of investors’ insistence.