The "War Epidemic" Market Opened The Stock Base Difference: Growth Trend Led Net Worth To Pick Up, Still Need To Be Vigilant Against Market Fluctuation.

The rapid rebound of A shares after a sharp fall has been defined by many market participants as "war epidemic". This round of rebound is also a concentrated reflection of A share investors' confidence in overcoming the epidemic.

In February 6th, the Shanghai Composite Index closed up 1.72%, rising for three consecutive days. The index of small and medium-sized board and gem also rose synchronously, rising by 2.8% and 3.74% respectively.

In twenty-first Century, the economic news reporters tracked and learned that the K-line was beating, and the plate prices also had different performances. Medical, media, computer and other sectors led, real estate, banking, non-ferrous metals, steel and other plate trend bottom. For the public offering fund, after the first day of the fund's net down, the data picked up in the past two days, but it also showed differences.

Since February 4th, equity funds have taken the lead in gem, medicine, new energy and other sub sectors or industry thematic funds, while real estate, banks and other related funds have fallen.

"Before the market was affected by the epidemic and other factors, a large number of stocks were wrongly killed, but with the market sentiment stable, the sectors affected by the epidemic were relatively small. Beijing a public fund investment director believes.

Although the performance ranking war has just started, the difference has quietly emerged with the difference of confidence.

The rapid rebound of A shares after a sharp fall has been defined by many market participants as "war epidemic". Gan Jun photo

Gem highlights

Although experienced a sharp decline in February 3rd, since February 4th, A shares have rebounded and the net value of public offering funds is recovering.

Twenty-first Century economic report reporter statistics show that from February 4th to February 5th two of the highest net value of equity funds is the establishment of the gem ETF fund, the fund's two day net growth of 7.87%. In contrast, the net value of the fund fell by 6.78% on the day of February 3rd.

In fact, gem is also a "pioneer" in the recent two days of market rebound.

Data show that in February 6th, the gem index rose 3.74% again, at 2012.25 points, and hit a new high in nearly three years. In February 4th and February 5th, the gem index also rose by 4.84% and 3.02% respectively.

"The growth of gem is mainly due to the structure of listed companies. There are relatively many growth stocks in the gem, and the industry is relatively concentrated in non cyclical varieties. The biggest impact of the epidemic is on industries with higher macroeconomic relevance, including alternative consumer goods and so on. At present, the risk preference of market funds is still strong, and funds are concentrated in the game with relatively weak correlation with macroeconomic. In February 6th, the director of rights and interests of a public fund in Southern China told the business reporter in twenty-first Century.

On the other hand, gem's 2019 annual report has improved and has provided strong support for the market.

Among the 789 GEM companies that disclosed the 2019 performance forecasts, there were 495 companies with a turnaround in performance, a slight increase, a continuation of earnings and a pre growth of 62.74%.

Huatai Securities Research believes that from the annual report performance forecast, gem growth performance rebound trend appears, while some sectors of the industry has also been good to digest the goodwill impairment pressure.

"Recently, new energy vehicles, electronics, semiconductors, 5G and other related stocks have strong basic support. Despite the impact of the epidemic, the impact is relatively limited. From the perspective of prosperity, the future performance is better and the certainty is stronger. The chief investment officer said.

From the perspective of new energy, technology, medicine and other industries recently focused on funds, the corresponding thematic funds also achieve a net return.

For example, huitianfu Chinese medicine A, Jiashi new energy material A, Golden Eagle information industry A and so on, three funds in February 4th to February 5th two net value rose 5.54%, 4.54% and 4.35% respectively.

The 2019 four seasons data show that the heavy stocks of harvest energy materials include Ningde era (300750.SZ), sun power (300274.SZ), leading intelligence (300450.SZ), Longji shares (601012.SH), Tongwei shares (600438.SH), etc. Among them, A shares, a new energy giant in Ningde, announced the supply agreement for Tesla lithium ion battery in the evening of February 2nd. After the opening of the market in February 3rd, the stock market went out of the market by 3.67%.

From February 4th to February 6th, stock prices in Ningde also rose.

Performance differences show

It is worth noting that there still exist structural differences in the A stock market's continuous warming, and some fund net performance is still declining.

Excluding the fund which has been established for less than three months, from February 4th to February 5th, the net value of the two days fell by several stock funds, such as the growth of the national life insurance company, the ETF connection of huitianfu, the Central Bank of China, the Bank of Tianhong, the ETF of the Central Bank of China, and so on. The decrease was 0.24%, 0.08%, 0.05% and 0.05% respectively.

Specifically, the CITIC first class banking industry index fell 6.48% in February 3rd, and from February 4th to February 6th, it rose by 1.99%, down 0.03%, and rose 0.71%. The overall performance of the sector was poor, and the net increase of the related funds ranked the same.

Net value of the decline in the active equity fund, national life insurance growth optimization, its fourth quarter of 2019 heavy stocks include Xinwei communications (300136.SZ), Jerry shares (002353.SZ), Shun Electronics (002138.SZ), 300207.SZ, and other stocks.

Mainly concentrated in machinery, electronics and so on. Among them, Xinwei communications, Jerry shares and other stocks in February 5th still fell by a different margin.

"At present, the market sentiment has shifted from panic to stability and optimism. This is also reflected in today's market trading volume and transaction price, making the stocks affected by the epidemic less affected by the epidemic and some of the previously oversold stocks take the lead in the rebound." According to the bank's AXA fund.

Market participants believe that due to the recent market affected by the epidemic factors, the follow-up situation is difficult to predict the development of the situation, before the epidemic control has not obviously improved, investors still need to be vigilant against the market's short-term fluctuations caused by the epidemic, and the impact on the whole year's macro-economy.

When it comes to investment strategy, the former chief investment officer is relatively cautious. He believes that in the current uncertainty, focusing on the boom industry and leading companies, specifically to the industry, health care, consumption and technology is still a noteworthy sector.

Another fund manager was cautious when interviewed. "Although the market is rebounding in the near future, we should follow up whether the epidemic has improved. Otherwise, the valuation of the market has almost recovered. Many growth stocks have risen to pre holiday levels."

"The epidemic may have some impact on China's economic growth in the first quarter, but it will not have a lasting impact on China's long-term economic development, transformation and upgrading." Yang Delong, chief economist of Qianhai open source fund, pointed out.

The consensus among the majority of respondents is that once the epidemic is controlled, the economy will gradually return to normal growth, and the investment opportunities in the future capital market will be more.