Disk observation
On Friday, the three major A-share indexes opened lower and went lower, diving in the afternoon, and picking up towards the end of the session. The total turnover of the two cities was 866.7 billion yuan; The net sales of northbound funds was 1.612 billion yuan. Disk observation: the concept of medical beauty, medical care, and new energy sectors were among the top gainers; Coal, computers, national defense and military industries were among the top losers. Closing: The Shanghai Composite Index reported 3446.86 points, down .81%; The Shenzhen Component Index reported 14,438.57 points, down .18%; Chuangzhi reported 391.4 points, up 1.31%. From the monthly line, the Shanghai Composite Index rose slightly in April, the Shenzhen Component Index rose by nearly 5%, and the Growth Enterprise Market Index rose by over 12%.
Outlook for the market outlook
Today, the concept of medical beauty broke out again, and individual stocks rose again. In fact, since April, northbound funds, known as "smart money", have also begun to scramble for medical beauty concept stocks. In April, the statistical medical beauty sector rose by 33.5%, significantly outperforming the Shanghai and Shenzhen 3. From the demand side, there is a strong demand in the medical beauty market. At present, the penetration rate of the domestic market is only 2%, which is still four times higher than that of developed countries. Judging from the first quarterly report, the first-quarter net profit growth rate of stocks with relatively good recent performance in the medical and beauty sector is also relatively high, and the gross profit margin of core concept stocks exceeds 5%, outperforming most other industries.
Looking back on the whole week, our judgment on the week before May Day was basically verified. The market sentiment was depressed, and the stock index remained in a range of support without motivation. The Shanghai Composite Index failed to hit the 35-point integer mark several times, mainly because the attack at the key pressure level did not get the cooperation of trading volume. However, yesterday, we made a mistake in judging that today, as the last trading day before the festival, is a "boring" market. Today's market is not only not "boring" but even "exciting", but unfortunately it is not so "pleasant". On the last trading day of April, the pre-holiday risk aversion was obvious, and there was no support from the rising weight plate. The stocks in the two cities fell more and rose less, and more than 2,7 stocks fell, making money weakly. Northbound funds also ended the net purchase for five consecutive days and turned into a small net sale.
we have repeatedly stressed that we should consider the game of three disturbances: the expectation of sustained economic recovery, the fear of financial policy contraction and the uncertainty of Sino-US friction throughout 221. This year's macro-level environment of "performance" and "valuation" has made it easier for the market to form a volatile market. On the other hand, the shrinking characteristics of stock supply and demand and the consideration of multiple objectives such as risk prevention and stable operation of the capital market by the capital market supervision policy are also conducive to the formation of a stable stage of the capital market, thus continuing the previous judgment on the volatile market of the capital market.
operation strategy
be patient, continue to treat the current market with the thinking of shocking the market, and observe the news during the May Day holiday before making the post-holiday layout. I wish you all a happy May Day holiday!
Zhao yurui, senior investment consultant of gf securities, with the practice certificate number of S26614614.