The policy blessing of the broader market after the resumption of the loss of land is still good for public offerings

The policy blessing of the broader market after the resumption of the loss of land is still good for public offerings

Original title: policy blessing, the market lost ground after the holiday recovery!

These two sectors are still good for public offerings. Recently, A-shares can be described as rising, and they have lost ground after the holiday. Thanks to the release of new rules for refinancing, the GEM index even broke through 2200 points, setting a new stage high. The growth behindThe favorable blessing of not opening the policy.

In terms of industry configuration, for public funds, technology and new energy vehicles are still promising directions.

  The increase in policy support for the economy was shortly after the MLF interest rate cut. On February 20, the February LPR (loan market quoted interest rate) was announced and the one-year LPR was 4.

05%, last month reduced by 10 BP, LPR above 5 years is 4.

75%, down 5 BP from last month.

  In this regard, Yang Delong of Qianhai Open Source Fund stated that from the policy perspective, the policy’s support for the economy is increasing.

Since February, the counter-cyclical adjustment of monetary policy has been gradually increased. The reverse repurchase rate and medium-term borrowing facilities have been increased by 10 basis points. In February, the LPR was also reduced, which fully reflects the further increase in support for the real economy.

  In addition to LPR, January economic data was also recently released.

Specifically, in January, Rongshe 5.

07 trillion, higher than market expectations of 4.

3 trillion, the former value was 2.

1 trillion (new caliber).

New credit 3.

3 trillion yuan, expected 2.

8 重庆耍耍网 trillion yuan, the former value is 1.

14 trillion.

M2 increases by 8.

4%, expected 8.

6%, the previous value was 8.


  Wanjia Fund’s interpretation said that the social integration in January was better than market expectations, mainly due to caliber adjustment.

From the perspective of the social financing structure, the scale of government bond issuance (in January, the net financing of government bonds was 7613 trillion, which was tens of times 591.3 billion euros), and the credit growth rate did not rise but fell.

  A noteworthy signal is that trust loans increased by 43.2 billion U.S. dollars, trust loans better reflect regulatory attitudes and broad credit determination, social neutrality as a whole, limited impact on stock bonds, considering the impact of the epidemic, and the latest monetary policy 杭州桑拿 implementation reportFrom a point of view, steady growth with steady momentum is still the main tone, and social financing mainly rises at a stable level, and the probability of obvious rise is not high.

  Technology is still a public fundraiser. It is specific to the industry sector. The core direction and opportunity of Zhonggeng’s featured market lies in science and technology. The logic behind it is that the economic growth mode and model are no longer the same as in the past from a macro perspective.The rate of return on scientific and technological research and development is higher than the rate of return on labor-intensive inputs, and the proportion of laborers with education levels has risen. The above-mentioned macro factors have caused the technology industry to be a long-term industry trend.

  In addition, Zhonggeng Fund is also optimistic about the new energy vehicle industry chain. New energy vehicles represent the future industry direction, especially the Tesla industry chain, which has long-term high growth.

  China Post Fund Guo Xiaowen is also optimistic about the technology sector. It said that the wave of technology stocks has just started and is expected to continue for 2 to 3 years.

  Specifically, we are optimistic about the fine-molecule industries of consumer electronics (smartphones, wearable smart devices), semiconductors, radio frequency (sealing and testing), panels, LEDs, PCBs, and new energy vehicles.

  However, Guo Xiaowen reminded that in the past, the short-term prosperity was high, and the stocks with good performance trends showed significant changes, while high-quality technology stocks and growth stocks and many high-quality core asset stocks have not seen significant adjustments this year.

For technology stocks, 2020 is the year of performance verification. Breakthroughs in individual stocks with performance that exceeds expectations may cause major adjustments. This is also a risk to be aware of when investing in technology stocks this year.

  The Great Wall Fund also told Weida that the market ‘s recent performance is a bit “fierce”, and related stocks such as semiconductors, new energy vehicles, etc. penetrated the gains, and there may be pressure on profit-taking.