A Shares "Epidemic" 12 Days To Resume Trading: More Than Half Of A Shares Recovered Land Lost Semiconductor ETF Fund "Passive" Win The Championship.

In February 18th, the twelfth trading days after the A share trading were still dominated by technology stocks. The day, electronic, computer and communications "three carriages" rose the top five.

On the previous day, the Shanghai stock index, which has a relatively lagging rate of return, has recovered all the lost territory after the first day of the first day of opening. So far, the incidental factors brought by the epidemic have gradually subsided, and the operation of A shares has returned to the right track.

According to statistics, in from February 3rd to 18th, and excluding post listing IPO, 1917 of the 3774 A share companies included in the sample rose and accounted for more than 50%.

In these 12 trading days, the whole A share market has been constantly switched from the initial medical and biological products to the medium and long range of agriculture, forestry, animal husbandry and fishery, and then to the steel and non-ferrous industries in the later period, but only technology stocks have become the focus of the market.

Betting on this fund, there are also many cases that have achieved over 40% revenue since the beginning of the year, such as the new energy A of Wanjia's economy, Hua Runyuan's big information media technology and so on. Without exception, communications and semiconductors have been used as heavy positions.

Technology stocks "three carriages" Qi Fei

Facts have proved that the persistence of pharmaceutical stocks is not strong.

Although the first trading day was opened in February 3rd, the sector fell by only 2.43%, and it continued to rise in the following three trading days. However, when the market deducts to 18 days, the average increase of 6% of the biopharmaceutical plates is not the top five.

By comparing historical data, we can see that the fever of medicine biopharmaceutical plates has only been maintained for the four trading days after the opening of the festival.

February 7th is a more important point of time. On the same day, medicine and biology led the Shanghai and Shenzhen two cities, while technology and technology represented by computers and communications turned into a leading breed.

In fact, some of these institutions already have expectations.

Guotai Junan's survey of more than 60 institutional investors showed that 64% of the organizations voted for technology stocks for the next quarter, while the proportion of voting shares for pharmaceutical stocks was 19%, slightly higher than consumption, finance and cycle.

A few days later, the two tier market led sector switched to agriculture, forestry, animal husbandry and fishery, steel and building materials and non banking industries, but the most stable play was computer technology.

As of the 18 day, the top three of the list increased by computers (12.34%), electronics (10.15%) and communications (7.52%).

Further subdivision, communication operations, semiconductor industry rose to 28.16% and 22.87% during the two industries, A shares are absolutely leading position. By contrast, in the first half of February, the growth rate of medical and biological textiles and clothing was 6% and 0.64%, respectively.

The reason is that technology capital is a continuation of the 2019 hot spot. It is only a sudden impact of the new crown outbreak that temporarily disrupts the original rhythm of the A shares, which makes the electronic sector fall 10% on the first day of opening.

In recent years, with the academician Zhong Nanshan, "the number of cases in the middle of 2 should reach peak or plateau", and the president of Raytheon Hill Hospital, Wang Hanghuan, "the real inflection point has arrived" and so on, and the number of newly diagnosed cases continues to decline, the development of the epidemic tends to be stable, and the impact on A shares is weakened.

In fact, through the pursuit of technology stocks during the above period, we can see that the rhythm of the two tier market has returned to its original track before February 10th.

It is not surprising that the bull stocks born during this period are also concentrated in the above-mentioned technology stocks.

Excluding the 4 new stocks listed in February, half of the top ten stocks from the electronics, software and IC industries, such as 300235.SZ and 106%, rose by more than 80% in the period (688158.SH).

Other traditional industries can be shortlisted stocks, and only in the field of automotive parts, household electrical appliances parts performance is more prominent.

Domestic technology and foreign capital consumption

The overall upward trend of the technology stocks has directly contributed to the uplift of the net value of the related funds.

Wind data show that as of 18 days, the first three of the fund's highest net growth in recent months were taken by three CIS semiconductor ETF products of the League of Nations Security Fund.

Among them, the League of nations in the central card refers to the semiconductor ETF, rose nearly 22.75% in the month, or the top ranked also includes Cathay Pacific CES semiconductor ETF.

The above products, as the ETF fund, which is closely monitoring the semiconductor industry index, can reach the top ten in the rankings. It is due to the 22.87% rise in the semiconductor industry after the festival.

The rest of the top ranked funds are similar, and heavily placed stocks are mostly concentrated on technology stocks.

Take the two products of Wanjia fund as an example, 8 of the ten major heavyweight stocks before the end of 2019, 8 of them were from semiconductor, software and other industries, and only BYD (002594.SZ) and Ningde times (300750.SZ) two new energy vehicles. Fortunately, the cumulative increase in Ningde's time after the festival is also close to 20%, with only BYD performing normally.

Excluding the two level market investment style switching factors, the rise of the semiconductor sector is also related to the good industry and the fundamentals of the company.

"In December last year, global semiconductor sales continued to improve, and China's semiconductor sales year-on-year change took the lead and the rest of the major countries and regions narrowed their sales year-on-year decline." China Merchants Securities strategy team pointed out.

Reflected in the level of enterprise operation, there has been a marked improvement in the receivables of manufacturing companies such as MediaTek and TSMC, and A shares related companies are no doubt applicable.

However, compared with domestic funded institutions, the foreign funded institutions represented by the north capital have significantly slowed down the buying rhythm since the 18 billion 200 million day after the first day of the day.

According to statistics, in from February 3rd to 18th, the North accumulated a net purchase of 29 billion 400 million yuan, and since mid February there was no single day buying ten billion.

As far as buying target is concerned, it is also different from domestic firms pursuing technology stocks. The list of funds on the north is still dominated by finance, liquor, household appliances and tourism.

It is worth noting that buying the top ranked stocks, except Guizhou Moutai (600519.SH) and other old holes, Shanghai Airport (600009.SH) and China National Tourism (601888.SH) two larger companies due to the impact of the epidemic, the North inflow of funds after the festival is very obvious.

In addition, the northward capital also favors the Ningde era of new energy vehicles, as well as 002466.SZ, an upstream lithium mine supplier, although the debt problem of the latter has not been significantly alleviated.

For some domestic institutions, Hikvision (002415.SZ), 002475.SZ, and North funds are in a state of reduction.

Obviously, there are some differences between domestic and foreign institutions in judging market hot spots this year. Just like Guotai Junan's research results, the views of the 60 buyers' organizations are different.

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