A-share turnover exceeded one trillion for two consecutive days: where are the major market opportunities for technology stocks?
Original title: A-share turnover exceeded one trillion for two consecutive days!
Where is the main market opportunity for technology stocks of major stockbrokers? Source: Surging News A-share heavy volume attack, Shanghai and Shenzhen stock market turnover exceeded trillions for the second consecutive day!
After a previous trading day’s replenishment, the three major A-share indexes returned to a strong upward trajectory on February 20, and the Shanghai Composite Index increased by 1.
84%, the first time since the market opened in the year of the rat closed above 3,000 points.
In addition, the Shenzhen Component Index rose 2.
43%, GEM Index rose 2.
According to the official website of the Shanghai Stock Exchange, the transaction volume of the Shanghai Stock Exchange was 4,148.
7.5 billion, the Shenzhen Stock Exchange’s official website shows the Shenzhen market turnover of 6553.
The total turnover of the two cities on February 19 reached 10,702.
09 trillion, the second consecutive trading day maintained above the 10 trillion mark.
The Air Force traded on the Shanghai Stock Exchange on February 19, 3815 a day.
7.2 billion, Shenzhen market turnover 6582.
6 billion yuan, totaling 10398.
32 trillion, the first time since April 8, 2019, the transaction value of the two cities exceeded 1 trillion.
Under the huge volume of transactions, funds are rushing into the market. Which sectors and stocks are the favorite of the main force?
Brokerage firms attracted the most money, and the main fund ‘s net purchases exceeded 10 billion yuan a day. From an industry perspective, the brokerage sector was the largest fierce net inflow of main funds on February 19th.
Data show that the brokerage sector received a net inflow of 107 main funds on February 19.
5.4 billion yuan, the main net inflow on the 5th was 141.
Specific to individual stocks, Oriental Fortune (300059) is the most popular brokerage stocks of the main funds, the main net inflow on February 19.
At 3.6 billion U.S. dollars, the stock also potentially stopped rising at the same time, closing at 17.
In addition, the main net inflows of Nanjing Securities (601990), CITIC Securities (600030), and Hongta Securities (601236) are also above 500 million yuan.
Hu Xiang, chief of the non-banking group of Soochow Securities, believes that at the current point, the securities industry is affected by policies, bad expectations and estimates, and is in a favorable period.
First of all, from the perspective of policy and budget, the industry is expanding policy-friendly, refinancing new regulations, derivatives and innovative products, science and technology board and GEM registration system are launched one after another, and securities firms enter a policy honeymoon period.
Second, the industry as a whole has poor expectations.
Some former markets believe that the brokerage business will affect the epidemic situation, but the impact is actually small, especially the retail securities business has significantly improved.
From the perspective of new account opening data, it is also relatively active, and it is expected that it will be profitable in the middle of the first quarter.
Third, brokerages are currently estimated to be at a median level, with short-term gains not exceeding pre-holiday highs, and the industry’s relative stagnation, which has led to room for alternative improvements.
Promoted by the new refinancing policy, it will make up the gap and have 15% -20% excess returns.
It is worth mentioning that the strong performance of Oriental Fortune is also a key recommendation of Soochow Securities.
Hu Xiang analysis, in addition to the top-down logic, Oriental Fortune also deserves attention.
From a long-term perspective, the retail securities business will still maintain a relatively high growth rate in the next three years, which constitutes the core driving factor for the rise of the profit center.
Against the background of the increasing demand from institutional investors for passive investment tool products and the growing asset allocation needs of retail customers, the company’s wealth management business shifts channels, costs and other advantages to promote rapid development.Cycle has a positive impact on overall revenue and profits.
From a biased perspective, the company’s performance will maintain a high growth rate. The performance in 2019 will double, and the data in the first quarter of 2020 is expected to exceed expectations; market share and new account openings also maintain a positive trend.
Technology stocks are expected to usher in three incremental funds. Electronic stocks are the main net inflows on February 19 after the securities firms, with a single-day net inflow of 40.6.2 billion.
Specific to individual stocks, the daily limit of TCL Technology (000100) received the main net inflow of 17.
At 2.1 billion yuan, BOE A (000725) followed closely with a net inflow of 15 main funds.
Liu Chenming, the chief strategic analyst of Co-Chairman of Tianfeng Securities, pointed out that the technology sector may continue to be active in the future, and welcomes multi-faceted incremental capital admission.
Liu Chenming believes that the recent A-share market, especially the technology sector, has been replaced by an excess liquidity environment. After the resumption of work and the counter-cyclical adjustment policies have not yet been implemented, the ultra-liquid macro liquidity cannot be entered quickly.The real economy has created excess micro liquidity, and explosive funds are everywhere.
Looking forward, this macro-scale excess liquidity environment, at least until the full development of counter-cyclical policies, may continue to be maintained before a large number of loans and bonds are issued, but the gradual transfer of the liquidity released earlier may expire, and it may be the most lenientIn the gradual past, the possibility of the index rising sharply, but the stocks and themes in the technology sector may continue to be active.
So, for micro liquidity, how much incremental capital will technology stocks have in the future?
Liu Chenming specified three directions.
The first is the opening of new public offering funds.
In the process of changing the way residents enter the market, in the future, there may continue to be explosive funds issued, and the establishment of these explosive funds is one of the main incremental funds.
Compared with January, there are nearly 100 billion public funds issued. These funds opened positions in February, which has promoted the growth of the market, especially technology stocks.
The second is the exchange of existing public funds and the increase of positions after being purchased.
At the end of the last year’s annual report, the absolute allocation ratio and over-allocation ratio of public funds to GEM were 14 respectively.
7% and 6.
4%, and when the technology industry cycle broke out in 2014-2015, these two figures were 26.
2% and 19.
6%, even considering the further increase in the public offering on the GEM in the first quarter, which may differ from the peak of the previous cycle, and there is still the possibility of further exchanges in the future.
At the same time, retail investors may also apply for mutual funds that have performed well in the past. However, funds that performed well in the second half of last year and this year are mostly based on technology. Such purchases also bring technology to the technology sector.Increase of positions.
The third is the positive circulation of medium and long-term funds to purchase technology ETFs and the rapid issuance of ETFs.
With the global 5G industry cycle, global cloud service cycle, global new energy vehicle cycle, global semiconductor cycle expansion, technology ETFs with medium and long-term performance and market popularity will be replaced by long-term funds, which can prevent individual stocks from thundering.Reduce fluctuations and enjoy the dividends of the technology industry 四川耍耍网 cycle.
In the process of these medium and long-term funds entering the technology ETF fund, it will in turn further promote the upward flow of the technology sector and the issuance of more technology ETF funds. Statistics show that there are currently about 20 technology ETFs to be issued.
Looking forward to the market outlook: Market structural opportunities may appear to rotate Haitong Securities Investment Advisor Chen Xiaohui to weigh on February 19th. The broader market today showed first suppression and then rising, and individual stocks rose.
After the two cities opened slightly higher, they repeatedly tested the 60-day support several times, and then the bulls tried to counterattack again. The Tesla concept was reactivated to maintain its popularity, and several brokerage stocks decisively blocked the daily limit board, which also activated the entire sector, especiallyIt was the heavy volume of several heavy-weight brokerage firms that attracted too many over-the-counter institutions to raise funds. This is the day when the volume can once again reach more than one trillion and continue to be released gently.
At the end of the game, the bulls stood firm and stood firmly at the 3,000 mark.
When the weight of finance and other weights is pulled up, the second- and third-tier blue chips have an incentive to make up, but small and medium-sized stocks have some pressure in the short term. This is not only the main fund’s requirements for stock exchanges and stock exchanges, but also the technology stocks are profiting.
From the K-line, the index has stabilized on the 60-day line, an important medium-term moving average for 4 consecutive trading days. In the short term, there is further upside momentum. The 3100-point mark is a strong pressure above, no matter from popularity or volume, even for the stock market.The urgent requirements of financing functions can turn countless bearish voices into longs.
Jufeng Investment Research Institute said that the recent profit-making rallies and reductions have caused market differentiation and adjustment, but the gain of the profit-making disk has been digested and new bright spots have appeared, and market opportunities have once again appeared.
In the short term, allowing the sector to remain active becomes the main driver of the market’s strength, while the motherboard market continues to follow in the footsteps of the SME market.
From the perspective of the trend, the market rebound pattern has not changed. The vertical market is temporarily revised around 3000 points, which is intended to change the current potential for market accumulation and highlight the effect of making money. The market is expected to continue to exhibit a mid-term rebound.
However, each time the market rushes up will be accompanied by short-term adjustments, and the market structural opportunities may appear to rotate. In terms of opportunities, it is recommended to continue to pay attention to industries and stocks that have opportunities to make up at the bottom of the market.
(Original title: A-shares traded over trillions for two consecutive days!
Mainly sweeping stock brokerage technology stocks, where is the market opportunity?)