Today, the index rebounded collectively, individual stocks rose and fell by half, market sentiment began to pick up, half-day turnover reached 720 billion, brokerage stocks broke out across the board, Societe Generale Securities, GF Securities Co., LTD., Oriental Securities rose collectively, silicone and salt lake lithium extraction plates were sought after by funds, and Tibet Mining reached another all-time high. in addition, after military industrial stocks swept away their recent decline, sector stocks rose one after another, and new research shares of popularity stocks rose more than 8 per cent again. By the close, the Prev index was up 0.56%, the Shenzhen Composite Index was up 0.38%, and the gem was up 0.51%.
On the face of the news, the interbank overnight repo rate fell to around 1.7% in early trading, and the seven-day period was close to the 2% mark. As of 11 / 11 / 15 / 15 Beijing time, it was reported at 1.7162%, which was more than 24bp per cent on the previous day, and 2.0126 per cent on DR007, and more than 9bp on the downlink. Traders said that funds were loose in early trading, with ample supply overnight and 7 days, and low quotations for 14 days across the month, around 2.3%.
Focus on brokerages, securities sector valuations remain low. Judging from the trend of the past year, the securities sector has outperformed Shanghai and Shenzhen 300 by nearly 20%. The industry is valued at 1.7 times price-to-book, a 19% quantile of the valuation range over the past year. From the perspective of individual stocks, in addition to the newly listed Caida Securities, Oriental Wealth, Oriental Securities, Societe Generale Securities and Jinlong shares have become the only four rising stocks since 2021. Wealth, asset management and other businesses have comparative advantages of securities firms, individual stocks performed well.
In the long run, securities companies are one of the most important intermediaries in the capital market, directly benefiting from the increased proportion of direct financing regulatory dividends.
As far as the future is concerned, in the market environment of stock game, special attention should be paid to the margin of safety. since August, it has been highlighted to "guard against the risk of congestion on popular tracks" and treat the growth sector as a long-term marathon rather than sprint thinking; and repeatedly stressed the need for "balanced allocation" rather than rapid transfer of funds to a hot direction.
Considering the economic aspects, policy aspects, fundamentals, capital aspects, emotional aspects and other factors, the current market has not yet reached the time to panic.
In the operation strategy, take whether it is a public offering of heavy stocks as the standard, pay attention to the "inside" and "outside" two main lines: one is to pay attention to the direction of further increase allocation in the public offering of heavy stocks, such as electronics, electrical equipment, building materials, home appliances and other industries. Second, we should pay attention to the direction of less public offering allocation but worthy of additional allocation to the "outside". From the perspective of profit elasticity, we should pay attention to the industries with good profit-valuation matching and high performance flexibility in the profit upward period. including machinery, chemical, building materials, transportation and other industries.
In terms of theme, pay attention to "carbon neutralization" and military industry.