November 11-the two cities fluctuated higher in the afternoon, with the three major indexes all up about 1%. Financial stocks such as brokerages and banks strengthened, and the Shanghai 50 index rose nearly 2%. Real estate, building materials, cement plate all day strong, Poly development, investment Shekou and other more than 10 shares sealing board. Yuan Universe and semiconductor chip plates continued to rise in the afternoon, and on the whole, individual stocks maintained a general rising pattern, with more than 3000 shares floating red, and the turnover in Shanghai and Shenzhen exceeded trillion yuan for the 15th trading day in a row.

By the close, the Prev index was up 1.15%, the Shenzhen Composite Index was up 1.27%, and the gem index was up 0.99%. Northbound funds bought 8.61 billion yuan net throughout the day, ending four consecutive days of net sales, reaching 11.8 billion yuan in the last trading day.

Real estate stocks take off today. So, does it still have investment value for real estate companies?

According to Wind data, 38 of the 116 real estate A-share listed companies under the Shenwan industry category experienced a year-on-year decline in revenue in the first three quarters of this year, accounting for about 1 percent. At the same time, 56 of the 116 companies reported a year-on-year decline in net profit in the first three quarters of this year, accounting for nearly half of the total. Overall, A-share real estate listed companies do not increase profits, the first three quarters of the operating situation is not optimistic.

China International Capital Corporation believes that although the real estate development business is cyclical, it also has sustainability (houses are always built).

With the clearing of "bad money" on the supply side, healthy competition in the industry can be expected. Enterprises with high growth rate, high volatility, not sustainable into low growth rate, low volatility, sustainable. On the one hand, the return of development business to manufacturing is not a bad thing, and profit margins are thin but at least sustainable; on the other hand, the market for earning sustained and stable rental returns from investment properties is also being greatly expanded (related to consumption, long rents, pension, industry, logistics, etc.). All these will help excellent enterprises to pass through the cycle.

As far as the future is concerned, Wanlian Securities said that the market has gradually entered a cross-year layout stage, and monetary policy pays attention to cross-cyclical regulation. Under the Federal Reserve's scheduled Taper, monetary policy focuses on maintaining stability and "taking the lead". Under macroeconomic pressure and policy constraints, the logic driving the market up and down sharply is absent. Under the current economic and policy background, we are still optimistic about the high-end manufacturing main line, and the sectors with high growth and strong order certainty will also be continuously recognized by market funds.

Under the New year's market, the market may be optimistic that the boom will continue to rise next year, and the sectors with strong support for growth and orders will be laid out in advance.

According to the further analysis of the agency, under the mood of risk aversion, the performance-to-price ratio of some of the more resilient value styles has also been improved. In terms of industry configuration, attention can be paid to: 1) carbon neutralization main lines with high certainty of future order and performance growth and continuous favorable policies, such as photovoltaic, wind power, energy storage, etc.; 2) undervalued blue-chip sectors such as non-bank finance and banks; 3) prosperity continues to rise, in-hand orders to maintain abundant defense industry.

In addition, Shanxi Securities pointed out that the upstream profit space may gradually narrow, the superimposed price limit and price stabilization policy may continue to tighten from the end of the year to the first quarter of next year, and the performance support of traditional cyclical industries such as coal, steel, shipping and other industries is limited. the prosperity is likely to decline, while the mid-term profitability of the manufacturing and retail industries in the middle and lower reaches is expected to be repaired under the background of continuous improvement in the cost side. The blue chip targets of leading sectors such as agriculture, forestry, animal husbandry and fishing, food and beverage, medicine and biology, and automobiles may have better layout opportunities, which should be paid attention to continuously.

Pacific Securities, on the other hand, believes that defense is the main thing, with a long fight and a short attack.

Maintain mainline configuration: the cycle with growth attributes remains unchanged, including: new energy (photovoltaic / wind power / energy storage / nuclear energy), batteries (negative / electrolyte / positive materials), military and mechanical equipment (industrial mother machine / shipbuilding / oil clothing equipment). Second, configuration: both defensive attributes and benefit from the "consumption degradation" superimposed "Singles Day"-driven consumer varieties, including: small household appliances and food and beverages, clothing, agricultural products and other essential consumption.