Survey: Global markets are “crossing the robbery” Can A shares stand up today?
On Thursday, the European and American stock markets plummeted again. The three major US stock indexes all fell more than 4%. The Dow closed down nearly 1,200 points, fell more than 3200 points in four days, and the S & P 500 index fell below 3,000 points for the first time since October last year.The European Stoxx 600 Index closed down 3.6%, a new low in 4 months. In addition, the 10-year Treasury yield on US stocks once fell to a record low, and the panic index VIX expanded its intraday gain to more 苏州夜网论坛 than 40%. International oil prices fell for five consecutive days, and WTI crude oil closed down 1.64 dollars / barrel, down 3.37% to close at 47.$ 09 / barrel.Brent crude closed down 1.25 dollars / barrel, down 2.34% to 52.$ 18 / barrel. In the Asia Pacific stock market, the Korea Composite Index closed down 1 yesterday.05% at 2054.89 points; the Australian ASX200 index fell 0.8% to 6657.9 o’clock; the Nikkei 225 index opened on February 28 (Friday) fell 524.73 points, a decrease of 2.39%, the intraday decline quickly expanded to 3%. However, after the Japanese stock market rebounded yesterday, it continued to oscillate. Even if the trading volume contracted, the turnover of the two cities continued to exceed one trillion yuan, and the 7-day cumulative turnover exceeded 8 trillion yuan.On the foreign side, Northbound funds made a net replacement for the fifth consecutive trading day, yesterday’s net replacement of 39.4.2 billion US dollars, and finally yesterday’s current net excess of this week has reached 242.04 billion. Currently, affected by the epidemic, panic is heating up, and overseas financial markets continue to be turbulent. Can global stock markets hold on to A-shares? What does the organization think? Haitong Securities pointed out that short-term A shares have entered an adjustment period, and the medium-term bull market pattern has not changed.The market has experienced rapid adjustment after 3 weeks of rapid decline, and there is pressure to adjust. Since February 4th, the market has risen sharply since February 4. The hedging policy stems from the epidemic, and the liquidity is abundant, but the short-term fundamental data affected by the epidemic is stillPoor, Hong Kong stocks have started to quantify in the 3rd week after the Spring Festival.From a fundamental point of view, the data on power generation, land sales and other data affected by the epidemic have continued to fall for several years. At the same time, the economic data in February and March may be dragged down, and the spread of overseas epidemics may drag the global economy and affect its exports. CICC recommends that positive progress has been made in China’s epidemic control and resumption of labor is continuing to deepen. The interpretation of overseas epidemics may lead to Chinese policies that specifically target non-trade sectors or “pure domestic demand” related fields to stabilize China’s growth, taking into account most traditionalRelative estimation errors in the field. These “pure domestic demand” sectors may become staged allocation opportunities, including the real estate industry chain, some new infrastructure and consumer services. CITIC Construction Investment pointed out that the macro policy environment is conducive to the continued bull market, short-term market substitution, investors can choose to increase positions.From the perspective of industry configuration, there are three main lines: First, the industry is booming, and the technology sector supported by liquidity policies can increase positions above the market, which is also the main line of the capital market.Second, through the gradual resumption of work by the enterprises, the consumer industries such as automobiles, food and beverages, real estate, home appliances, catering and tourism, where the demand for airlines has been compressed, will rebound again and need to be added.Third, benefit from the capital market reform and the liquidity-rich securities sector. CITIC Securities said that A-shares are still in the middle of the “well-off bull” channel, and it is expected that the second round of rise driven by industrial capital entry and fundamental compensation will start in the second quarter.The first round of “filling pits” in A shares this year is mainly driven by loose liquidity. This round of capital relay is nearing its end. After the various signals are clear, its subsequent kinetic energy will tend to weaken and the market will enter a period of peace. Among overseas institutions, Pang Wenbo, chief investment strategist of BlackRock Asia Pacific, one of the world ‘s largest asset management agencies, said that the policy stance on emerging markets has remained loose and the dollar ‘s rising momentum has eased. BlackRock Think Tank is optimistic in 2020Relatively higher emerging market stocks, debt.BlackRock has always expressed its long-term optimism on the Chinese market.”China’s capital market has a large scale, liquidity transfers, and relative errors in the correlation with other total assets. Coupled with the opening up of the Chinese capital market, it is easier for international investors to enter the Chinese market.”UBS issued recommendations to high-net-worth clients-increasing their holdings in Chinese stocks.Focusing on Europe’s sluggish economic and corporate earnings growth prospects, and the euro zone stock quotes, Chinese stocks look particularly attractive.The A-share market in the Air Force adjusted. UBS Global Wealth Management advised its high net worth clients to take advantage of this opportunity to increase their holdings of Chinese stocks.”We continue to be bullish on emerging market equities and believe that the recent decline in MSCI Asia (except Japan) has created attractive long-term entry opportunities.Related news: Japanese and South Korean stocks opened sharply, Nikkei index fell 2% overnight, U.S. stocks plunged again overnight, and overseas markets once again stomped on the week. The last test of the big A quality Dow was the record for the largest decline.: European and American stock markets panic selling Dow to smooth out half-year gains in a week