As A-shares stabilized and rebounded, the net subscription of equity ETFs slowed down in March, and foreign capital and financing funds became the main inflows. From February to March, the A-share market came out of a round of over-falling rebound, and in April, the A-share market will enter a "decision" period, focusing on whether the stable growth policy exceeds expectations.
The top five main net inflows into the industry sector: gold, silver, non-ferrous metals · Zinc, home appliances, non-ferrous · Copper; The top five main net inflows in the concept sector: optical communication, optoelectronic co-packaging CPO, 5G, copper high-speed connector, superconducting concept; The top 10 main net inflows of individual stocks: Cialis, Wall Nuclear Materials, Zijin Mining, Industrial Fortune Union, Zhongji Innolight, Huagong Technology, Xinyisheng, GigaDevice, Jiaozuo Wanfang, and Hudian Shares
The Gen AI model is evolving with each passing day, driving the computing power industry chain to become one of the main lines throughout 2024. Taking marginal change as the starting point, the demand for computing power is migrating from the training side to the inference side. The increasing requirements for high-speed, low-cost, and low-power optical interconnection for AI have brought opportunities for technological leaps, and the trend of autonomy is clear in the context of limited supply of overseas computing power. In the Gen AI era, we focus on the core direction of investment and high-certainty links, and pay attention to industrial chain links such as computing chips, servers, and liquid cooling. Riding a bull and a bear believes that there are many concepts in the AI era, which is also the key to the detonation of market sentiment, but it does not mean that it must be a new opportunity, and it is still necessary to seize a few major investment directions.
After entering April, the domestic black futures changed the previous decline and ushered in a volatile rebound market, with the black industry chain index rising by more than 7%. In addition, the recent improvement in steel terminal demand and the acceleration of destocking speed also provided impetus for the rebound of black futures. Riding the bull and looking at the bear believes that the rise of commodities, to a certain extent, has promoted the turnaround of the industry, copper, gold, crude oil and other targets continue to rise, and the black series of targets will also perform, especially in the rotation of the plate, colleagues can pay attention to new investment opportunities.
Domestic consumers have the psychology of "replacing it when they can't be used" for household appliances, so there are a large number of old household appliances that have been in service for a long time in China, which is the certainty of "exchanging the old for the new" to theoretically drive the expansion of the home appliance market. During the last round of subsidies, the Shenwan household appliance index rose by 40.46%, and referring to the previous round of policy plans, the subsidies for high-end green smart home appliances are expected to further accelerate the upgrading of the ice washing product structure. Through the split of the historical stock price trend, it can be found that in the main implementation range of the subsidy policy, corresponding to 2009, the household appliance sector ushered in a large increase, on the one hand, the fundamental stage elasticity is very considerable, on the other hand, the valuation side also reached a new high in 2009, the fundamentals are superimposed on the valuation boost, and the market of the household appliance sector during the policy is very promising.
Large-scale equipment renewal and trade-in of consumer goods will inevitably bring the problem of how to deal with waste equipment and consumer goods, and will accelerate the development of the "replacement + recycling" logistics system and new model, and further improve the recycling network of renewable resources. According to the action plan, by 2027, the number of end-of-life vehicles recycled will roughly double compared to 2023, and the number of used car transactions will increase by 45% compared to 2023. Riding the bull and watching the bear believes that with the combination of financial subsidies and trade-in, the price competitiveness of regular scrapping channels is expected to improve. With the support of policies, the tax and land use of automobile dismantling manufacturers are also expected to be guaranteed, and leading enterprises with refined dismantling capabilities are expected to win.
The Shanghai Composite Index has entered a sharply volatile market, with financial stocks and heavyweight stocks dying down, and there has never been a relatively strong rebound, and this position is still dominated by the rhythm of weak adjustment. The main funds are waiting near 3000 points, and the closer to the point, the more there is a rebound trend, but now it is still following the trend of the external market, and there is no rebound momentum of its own, so it is not appropriate to be overly optimistic about the market outlook, or cautious bullish.
The GEM index has returned from more than 1,900 points to more than 1,700 points, the technology stock sector has fallen, and the blue-chip sectors such as new energy, medicine, and liquor have been adjusted in turn. Half of the time in April has passed, but there has been no big positive in the first quarterly report, and the hype in the quarterly report is estimated to have no big waves, only some stocks with college entrance examinations or one-word daily limits are just shining in their eyes. Riding a bull and watching a bear feels that you can start to focus on the concept of tourist hotels, after all, the Spring Festival and Qingming Festival are expected to increase the consumption of tourist hotels, and May Day is a big opportunity!