A shares closed in 2023.
On December 29th, the three major A-share stock indexes were mixed. In early trading, the two cities rose rapidly and individual stocks showed a general upward trend. In the afternoon, the two cities fluctuated higher and the increase continued to expand.
From the perspective of the disk, the consumer electronics industry broke out and the direction of virtual reality led the rise; The cultural media industry is strong, and Tik Tok and short plays are active; Multi-modal AI and PEEK materials performed well.
By the close of December 29th, the Shanghai Composite Index rose 0.68% to 2,974.93 points. The Science and Technology Innovation 50 Index rose 0.19% to 852 points; The Shenzhen Component Index rose 0.89% to 9524.69 points; Growth enterprise market index rose 0.63% to 1891.37 points.
So far, in 2023, the Shanghai Composite Index fell by 3.7%, the Kechuang 50 Index fell by 11.24%, the Shenzhen Composite Index fell by 13.54%, and the Growth Enterprise Market Index fell by 19.41%.
Wind statistics show that 4316 stocks in the two cities and the North Stock Exchange rose, 835 stocks fell, and 173 stocks were flat.
On December 29th, the total turnover in Shanghai and Shenzhen stock markets was 822.6 billion yuan, a decrease of 61.8 billion yuan compared with 884.4 billion yuan in the previous trading day. Among them, the Shanghai stock exchange traded 349 billion yuan, a decrease of 43.4 billion yuan from the previous trading day’s 392.4 billion yuan, and the Shenzhen stock exchange traded 473.6 billion yuan.
According to Great Wisdom VIP, 99 stocks in the two cities and the North Stock Exchange rose by more than 9%, and 4 stocks fell by more than 9%.
Northbound funds showed selling pressure at the end of December 29, with a net sale of 566 million yuan throughout the day; Among them, Shanghai Stock Connect sold 1.689 billion yuan and Shenzhen Stock Connect bought 1.123 billion yuan. In December, northbound funds reduced their positions by nearly 13 billion yuan.
In 2023, northbound funds increased their positions by over 140 billion yuan in January, and the total amount of transactions in the year reached 25 trillion yuan, with a cumulative net purchase of 43.7 billion yuan, which was the net purchase for ten consecutive years since 2014.
Semiconductor activity
In terms of sectors, semiconductors are active, with the daily limit of Huacan Optoelectronics (300323) and Guoxingguang Optoelectronics (002449) rising by more than 10%, while Xinzhong Technology (688352), Abison (300389) and HongNina Li Chi Hui (300219) rising by more than 6%.
Short plays and games have made a comeback, driving media stocks to lead the two cities. Chinese Online (300364), Fengyuzhu (603466), Shanghai Film (601595) and Rebate Technology (600228) have daily limit or increased by more than 10%.
The strength of consumer electronics has driven the electronic sector to set off a wave of daily limit. Over 10 stocks such as Lianjian Optoelectronics (300269), Tian Yi (300812) and Qingyue Technology (688496) have daily limit or increased by over 10%.
The new energy track turned off, and the photovoltaic and lithium battery sectors were all adjusted. Goodway (688390), Jinlang Technology (300763), Shanshan (600884) and German Nano (300769) fell more than 2%.
Real estate fell again, with urban construction development (600266) falling more than 4%, Fuxing shares (000926), gree real estate (600185) and Chinese enterprises (600675) falling more than 2%.
Liquor stocks fell, with the food and beverage sector leading the decline. Weilong shares (603779) fell below the limit, Jialong shares (002495) and Huifa Food (603536) fell over 6%, while Yiming Food (605179) and Yanjing Beer (000729) fell over 2%.
Incremental funds began to enter the market.
Guotai Junan said that the transactions between the two cities further picked up and the market sentiment gradually picked up. The capital flows back to the north in a day, hitting a five-month high. The strong return not only boosts the market sentiment, but also has a direct impact on the market style. Technically, after the land price is measured, the bottom volume matches the trend of Dayang Line, indicating that incremental funds are beginning to enter the market. The continuity of the follow-up deserves close attention and attention. Structurally, we still look at the oversold rebound and grasp the recent rotation opportunities in the market.
In the short term, we can pay due attention to the oversold rebound of Baima plate such as new energy and liquor. It is suggested to pay attention to data elements/Xiaomi ecological chain /AI intelligent terminal/production capacity. 1) Data Elements: The "Data Elements ×" action plan was released, and the data asset financing model was launched. Pay attention to public data supply and data service providers; 2) Xiaomi ecological chain: the release of the first model will stimulate the demand of supply chain, and the high-end strategy will show results. Pay attention to 3C and automobile supply chain; 3)AI intelligent terminal: the iteration of AI processor and end-side large model is accelerated, and the terminal equipment welcomes the new product cycle. It is recommended to pay attention to the terminal machine and components; 4) Production capacity going to sea: relying on domestic industrial chain and production capacity advantages to open up overseas incremental markets. Can pay attention to hand tools/auto parts/cross-border e-commerce.
Galaxy Securities pointed out that under the resonance of positive changes in the internal and external environment, the A-share market is expected to attract global capital to re-flow, and in 2024, A-shares are expected to usher in a volatile and upward repair market. After the previous adjustment, the current A-share valuation has reached the historical bottom area, so it is suggested to look for allocation opportunities before structural heavy volume.
The agency believes that industries with long-term growth momentum can create stable performance, and good performance is an indelible investment concept. You can pay attention to long-term oversold or short-term bottom plates with long-term growth momentum. The investment strategy allocated in January should focus on low-value stocks and growth-value stocks in sectors that benefit from policy assistance and economic recovery. In January, it was suggested to strategically lay out value stocks in sectors such as consumption, science and technology, coal and electricity.
Bohai Securities pointed out that in terms of industry allocation, most industry valuations are basically at the bottom, and there are not many fundamental catalytic factors in the performance vacuum period. Therefore, looking ahead, the driving factors at the industry level in January may still come from the capital side. Thematic opportunities at the industry level are expected to be active, and we can pay attention to the TMT plate with the electronics industry as the core under the trend of AI model from cloud to end industry, as well as the investment opportunities in the big financial, transportation and pharmaceutical industries brought by medium and long-term capital entry. In addition, we can also pay attention to the investment opportunities in the high dividend sector, the core equity variety of allocated funds.
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