原标题：A股“变”了吗？ 茅台突然暴跌7％，包团股票暴跌，基金和茅台一起成为热门搜索！
概括
[Ashares”changed”?Moutaisuddenlyplummetedby7%BaotuanstocksplummetedfundsMoutaiareonhotsearchtogether!TodayKweichowMoutaifellnearly7%anditsstockpricefellbelowthe2300yuanmarkItisworthnotingthatinthethreetradingdayssincetheYearoftheOxKweichowMoutaihasfallenbynearly13%onthreedaysfallingbelowthethreebarriersof25002400and2300yuanconsecutivelyanditsmarketvaluehasshrunkbynearly420billionyuanfallingbelow3trillionyuan(ChinaFundNews)
On the third trading day of the Year of the Ox, institutions headed by Moutai collectively fell.fundDirectly fell into the hot search.
A shares plummeted in heavy volume,Growth Enterprise Market IndexFell more than 4%
The three major A-share indexes collectively closed down today.
among themThe Shanghai Composite IndexIt closed down 1.45%.Start a businessThe board index fell 4.47%, a single-day drop hitting a new high in nearly six months. The market volume expanded, with a total of 1.29 trillion yuan in transactions between the two cities. Cyclical stocks strengthened across the board, steel, petrochemical,Non-ferrous metalsThe sector rose sharply. However, on the whole, there are more than 2,600 stocks that have risen and less than 1,600 stocks have fallen.
Then why did the index plummet? It is related to the plummet of heavyweight stocks and institutional holdings.
Liquor collectively kills
Moutai plunged nearly 7%
The most violent decline was undoubtedly the liquor industry, which rose the most crazily last year.
present day,Kweichow MoutaiIt fell directly by nearly 7%, and the stock price fell below the 2,300 yuan mark. It is worth noting that three trading days since the Year of the Ox,Kweichow MoutaiIn the three days, it fell by nearly 13%, falling below the three barriers of 2500, 2400, and 2300 yuan. The market value shrank by nearly 420 billion yuan and fell below 3 trillion yuan.
The liquor index plummeted 7.67%. among them,Shanxi Fenjiu、Alcoholic liquor、Bairun sharesLimit down.WuliangyeFell more than 9%,Luzhou Laojiao、Yanghe sharesA drop of more than 8%.
Baotuan stocks collapsed
apart fromKweichow MoutaiIt plummeted nearly 7%, and leading stocks in various industries collapsed.
The data shows that the Mao Index fell by more than 5%. The so-called Mao Index is an index composed of leading stocks in various industries.
among them,Tongce MedicalRate to seal the limit,Hengli HydraulicClose to the limit.WuXi AppTecFell more than 9%,China FreeFell nearly 9%,Oriental wealthFell 8.66%,Midea Group、Aier OphthalmologyFell more than 7%,SF HoldingsAlso fell nearly 7%…
30 billion lifting ban is coming
“Sweeper” fell below 1,000 yuan
On February 22, the third most expensive stock in A sharesStone TechnologyUshered in the first day of lifting the ban, affected by this, the stock opened lower and moved lower.
In the end, it closed down nearly 13%, from the opening price of 1099.97 yuan all the way to the 1,000 yuan mark, to close at 966.02 yuan.Thethe companyThe market value also plummeted from 74 billion yuan to 64.4 billion yuan on February 19, evaporating 9.6 billion yuan.
Public information shows thatStone TechnologyLanded on the Sci-Tech Edition on February 21, 2020, with an issue of 271.12 yuan per sharepriceOfficially listed, it has a halo of “scientific and technological innovation edition issue price first”. This stock is currently the third most expensive A-share stock, second only to Kweichow Moutai,Amic. On January 26, 2021, it hit a record price of 1,262.62 yuan, which is a 365.7% increase from its issue price of 271.12 yuan.
Funds fell on the hot search
Kemin: How cool it was before, how miserable it will be after the year
Baotuan stocks plummeted, let Baotuan’sFund equityAlso plummeted. In the afternoon, the fund fell into the hot search.
You Jimin said: I went back to the liberation overnight, and I lost my wages for the two months.
There are also Christians who said: How cool it was before, how miserable it will be after the year…
There is also a blind date: the heartbroken girl who took in the fund’s stock plummet…
Net sales of northbound funds exceeded 1.1 billion
Not only that, northbound funds turned to net sales in the afternoon, and net purchases of more than 2.1 billion yuan were once in the morning. As of the close, the northbound funds sold 1.114 billion yuan today.
The rise of cyclical stocks
Nonferrous metals and rare earths
Corresponding to the collapse of Baotuan stocks is the rise of procyclical stocks. Non-ferrous metals, steel, coal, oil and other resource products and cyclical stocks soared across the board.
among them,Precious metalsThe index soared more than 6.6%,China GoldClosed up 9.96%, the daily limit was once closedZijin MiningIt closed up by 7.26%, and the turnover exceeded 10 billion yuan, breaking through 10 billion yuan for two consecutive trading days.
The steel sector set off a daily limit wave:
The oil sector also soared.
Public offering, Private equity quickly adjusts positions
It is worth noting that after the Spring Festival, fund managers interviewed public and private equity investors, and they all indicated that they have carried out exchanges: public offerings indicated that they will make balanced allocations in the new economy, pro-cyclical and scarce leading sectors of Hong Kong stocks, and put the company Earnings are the core indicator of a key factor in investment stock selection; private equity means that it mainly reduces the “core asset” sector with high valuations, andAdd warehousePro-cyclical, undervalued subject matter.
Public offering: balanced allocation in the new economy, pro-cyclical and scarce leading sectors of Hong Kong stocks
In response to the sharp drop in publicly held stocks, a high-performance fund manager in Beijing said that after the Spring Festival, publicly held stocks have undergone major adjustments, and it cannot be ruled out that it is the result of institutional adjustments. According to him, in the fourth quarter of last year, he managed to reduce his holdings of expensive pharmaceutical and electronics stocks, and increased his positions in the relatively undervalued financial, real estate and chemical sectors, and the overall valuation of the fund portfolio was optimized.
The performance fund manager analyzed that under the two consecutive years of core asset market such as consumption, medicine, technology, and advanced manufacturing, the current valuations of these sectors with larger long-term space and better track are relatively expensive, and benefit from the global and Chinese economy The procyclical sectors and growth blue-chip stocks of the recovery, although the long-term space is insufficient, but the price is good at this stage. From the perspective of the whole year of 2021, the investment performance of the above sectors is relatively balanced. He will also allocate funds in a balanced manner. Rebalance.
A fund manager of the Quantitative Investment Department in South China also revealed that since the fourth quarter of last year, someRaised fundsStarted to swap positions to maintain the balance of the overall valuation in the fund portfolio. The direction of the position adjustment is mainly to sell a certain proportion of expensive consumer, pharmaceutical, technology and other stocks, and invest in reasonable or even underestimated, and appear in the industry. Pro-cyclical stocks such as financial, chemical, and non-ferrous stocks that are trending in prosperity.
A fund manager in South China said that liquor, new energy and other industries are booming, and valuations have been relatively high after two years of rising prices.butbankThe long-term growth logic of real estate is relatively unclear, but the current valuation is low. The economy has improved since the second half of 2020. In fact,bankAlso benefited, the short-term prosperity has improved, and the superimposed valuation is low, so there is fundingbankThese relatively low-valued real estate sectors flowed. He also said that he has strengthened his research on companies with medium market capitalization, and looks forward to finding more cost-effective investment targets.
Private equity: reduce holdings of Baotuan shares,Focus on pro-cyclicality and underestimate the target
Since the beginning of the year, private equity has become more cautious in its views and operations on Baotuan stocks. A number of private equity told reporters that although they are optimistic about the relevant direction in the medium and long term, they have avoided high valuations.
China Future Capital stated that before the Spring Festival they systematically reduced the “core asset” sector with high valuations, and the new energy sector with more serious short-term overdraft expectations.Position.In their opinion, super lowinterest rate、currencyThe valuation bubble caused by spam will eventually return, and it is necessary to carefully screen the degree of digestion of the valuation of high-quality companies’ future growth capabilities. They are evasive to the high valuations brought about by institutional grouping and labelling.
Ivy Asset Fund Manager Shi Haihui told reporters that his current position is about 85%, mainly cutting bull market varieties, and reducing the allocation of some lucrative bull market sectors such as new energy stocks. “Although it is still optimistic, remove the uncertainty and do a high-for-low movement.” He said.At the same time he also cleared the “story telling”enterprise。
Jingling Investment also stated that it will appropriately reduce its holdings of highly valued products. He pointed out that the position still needs to be combined with the market environment to evaluate the company’s growth space and growth certainty, and to make investment arrangements based on the current valuation situation.
Bao Jigang, Chairman of Wukong Investment, said that he has made appropriate adjustments to the A-share technology growth stocks that have increased significantly last year.Lighten up, The new energy and photovoltaic track with better growth is still optimistic in the medium and long term.
Regarding the increasing position, Jingling Investment said that the main direction for adjusting positions is the prosperous industries with reasonable valuations and room for profitable growth, which is summarized as “dual cycle, high quality, new consumption”.attentionBrandConsumption and emerging consumer industries; innovative drugs and related clinical trials, companion diagnosis, early cancer screening, and precision treatment;medical serviceFrom assisted reproduction to elderly care; from consumer electronics to technological innovation, etc.; from consumer network technology to game media; benefiting from long-terminterest rateElevatedInsuranceAnd other related industries.
China Future Capital’s increase in positions is mainly for large banks and leading companies in various sub-industry with a better matching degree of business valuation. The current position continues to decrease, and the portfolio tends to be defensive.
Shi Haihui said that the current centralized holdingPerformanceFor industries or individual stocks that can continue to exceed expectations, moderately select some very cost-effective growth stocks to hold in order to obtain a restoration of valuation.He said that withNew fundThe marginal reduction of scale will also pay due attention to the leaders in the medium market value segment that have been mistakenly killed. In addition, the pro-cyclical ones are also slightly understandable and growth-oriented upstream materials, rather than just focusing on inflation expectations.
Panjing Investment ManagementpartnershipChen Qin judges that pro-cyclical investment opportunities may have periodic excess returns, and there are opportunities for rebounds in the leading small and medium-sized market capitalization high-quality and high-growth sub-industries that have oversold due to style reasons.
Bao Jigang said that taking into account the acceleration of vaccination, the global economy is in the post-epidemic resonant recovery stage. It has made a certain layout in the procyclical direction around the Spring Festival, including industrial metals and petrochemical chains, and traded global re-inflation (buying benefited from bulk The cyclical stocks with rising prices, last year the epidemic interrupted a global economic recovery, so it is said that inflation). At the current stage, the position is at a medium to high position.
(Source: China Fund News)
(Editor in charge: DF142)
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