Financials Jan 23, 2022 02:29 PM (GMT+8)
CITIC Securities research report pointed out that the "policy bottom" has been clear, the "emotional bottom" is coming, and the "market bottom" is gradually approaching. It is suggested to continue to focus on the "two low" layout of blue chips to meet the starting point of the market in the first half of the year. First of all, the local "two sessions" show that there is an obvious trend of stabilizing the economy with investment, and after the currency first exceeds expectations, the policies of other ministries and local governments are forming a joint force, and the "policy bottom" has been clear. Secondly, the emotional catharsis induced by the collapse of high-level groups is coming to an end. The short-term adjustment of the market deviates from both the trend of monetary easing and the fundamental trend of policy support. The differentiation of internal and external capital behavior is also evidence that the "emotional bottom" is coming. Finally, with the continuous improvement of the consensus on the main line of stable growth and the end of emotional catharsis, it is expected that market funds will resume inflow and the "market bottom" is gradually approaching. It is suggested to stick to the main line of "stable growth" and continue to layout high-quality blue chips around the "two low positions" to meet the starting point of the market in the first half of the year.
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