Fund-raising situation does not decrease, public offerings are expected to further expand market trends

Fund-raising situation does not decrease, public offerings are expected to further expand market trends
For stocks, please read Jin Qilin analyst research report, authoritative, professional, timely, and comprehensive, to help you tap potential potential opportunities!  Original title: The public offering is expected to further expand the market prospects. A shares appeared a slight adjustment on February 19, the transaction volume of the two cities continued to expand and exceeded one trillion US dollars, and the northbound funds also maintained a net inflow situation.Fund investment researchers believe that the current market line has not changed, and it is still dominated by technological growth. It 佛山桑拿网 is expected that the market outlook will show a distribution difference, with relatively large estimated and cumulative returns. There are subdivided technology sectors supported by technical updates and industrial upgrades, Or there is room for better relative returns.  □ Reporter Yu Shipeng Zhang Huanhuan Short-term risks are expected to be extended After the opening of the market on the 19th, the two cities began to shake and differentiate.Due to the decline in the semiconductor sector and the weakening of the media sector, the GEM index fell more than 1 at a time.5%, eventually falling by 1.45%, to close at 2139.44 points; benefiting from the collective upward movement of insurance brokers and breeding stocks, the Shanghai stock market index once rose to approximately 3,000 points, and eventually fell 0.32% closed at 2975.40 points.  From the perspective of the sector, affected by the news of Tesla’s promotion of cobalt-free batteries, the cobalt industry stocks started to decline collectively, and the lithium iron phosphate battery concept was active against the trend. In contrast to the computer, communications, semiconductor and other technology growth stocks, the opposite was the case. Finance and consumptionThe blue chip sector performed strongly.  On the whole, the market ‘s money-making effect improved on the 19th, and the plate rotation was slightly more obvious, but the situation of fund grabbing continued to increase.On the 19th, the two cities totaled 10,388.1.5 billion yuan, compared with 9999 in the previous trading day.4.6 billion US dollars; 4.6 billion was slightly heavy, and northbound funds also reversed the net inflow of 64.2.4 billion.  Wei Fengchun, chief macro strategy analyst of Boshi Fund, said that in the future, the policy will gradually focus on epidemic prevention and control and resumption of production. Policy-makers will introduce policies and measures to support the restoration of production. In addition, the implementation of new refinancing regulations will reduce short-term market risks and continue expectations.According to the research and management department of Morgan Stanley Huaxin Fund, based on the current monetary policy, market liquidity promotes easing.  The fluctuation of technology stocks is inevitably a question of “whether the style has begun to switch.” Zhou Zhimin, the manager of Chuangjin Hexin Technology Growth Fund, told the China Securities Journal reporter that the general direction of the market is still the technology growth sector.Of funds.  Taking the semiconductor sector as an example, Zhou Zhimin pointed out that the ability of semiconductors to become a leader in the field of technological growth is determined by its huge market space, important industrial structure, and its impact on economic security.”In the past few years, with the promotion of large funds, the help of industrial capital, and the efforts of scientists and researchers, the scale of China’s semiconductor industry has made rapid progress, which is gradually reflected in the financial reports and feasibility of semiconductor companies.”Zhou Zhimin said from the overseas experience, after some successful semiconductor companies have developed their business to a certain stage, they often rely on capital operations to grow bigger and stronger.”Whether the new rules for the increase of shares announced recently can bring some catalyst effects to the capital operation of A-share semiconductor companies is worthy of attention.”Xu Yifu, senior research director of the Mangrove and Open Market Research Department of Gopher Assets, said that the growth cycle of technology growth started in the third quarter of 2019. At present, the market and estimates are rapidly keeping up, and the prosperity is still rising rapidly.He said: “But the estimates and incremental returns of technology stocks are already in a high position. Whether they will approach the peak next (Jin Qilin analyst) requires investors to closely follow the sector fundamentals.”At the same time, Zhou Zhimin also said that in the long run, the overestimation of technology stocks must be digested with large space and high growth rate. This big factor is determined by fundamentals and will not change due to increased growth.”Therefore, investors need to pay attention in trading, too high estimates will affect buying expectations, too high cumulative gains may also magnify the expansion of changes.Wang Yan, manager of the selected mixed fund of Jinhexin Shanghai-Hong Kong-Shenzhen Research Institute, highlights the trend and spreads opportunities. According to the recently released January PMI and other data, the economy has already recovered and the probability of rapid repair is high in the future.”From a high-level perspective, we are firmly optimistic about the core assets of the technology, pharmaceuticals, new energy automotive industry and the improvement of the competitive structure of the established economic boom.”What’s next for the market?Ongoing, Zhou Zhimin predicts that the proliferation of attractions will become a new feature.“与去年底相比,科技成长大方向内部,目前不少细分领域‘小荷才露尖尖角’,例如云办公、空天互联网、功率半导体、GaN、WIFI 6、无钴电池等,The possibility of hot spots spreading is very high.”Under this trend, Zhou Zhimin said that some estimates are not too high and the cumulative revenue is not too large, but due to technological updates, industrial upgrades and other factors driving companies with fundamental changes, the relative returns in the sector may be moreit is good.  Su Yanqing, fund manager of China Merchants Shenzhen Securities TMT50ETF, also believes that there are two major factors in the current TMT sector that deserve attention.The scale and recent increase in online demand have opened up new growth opportunities for TMT in cultivating user habits and usage scenarios, such as online work in the computer sector, medical information technology, cloud services, etc., as well as the media sector.Games, video platforms, cloud computing in communications, data centers, and operators.Su Yanqing believes that the increase in short-term demand is conducive to the market share of leading enterprises.  Su Yanqing pointed out that from the perspective of reorganization, the new rules for refinancing officially came into effect, to a certain extent, alleviating the cash flow problem of invading small and medium-sized companies, which constituted a medium-term benefit for the TMT industry in the technology growth category.”Nearly 40% of the stocks in the TMT sector are on the GEM. These companies are trying to benefit from the anticipated opportunities for improvement brought by the new refinancing regulations.”