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Brokerage stocks are quietly leading the way, thinking of surprising everyone
Against the background of gradually increasing market expectations year-on-year, brokerage stocks have shown a good trend.
On November 30, the Shenwan Grade II Securities Industry Index bucked the market and was up 0.65%, of which,Guosheng financial holdings(Protection of rights),Zhongtai Values、CICCEarnings were among the highest, increasing 7.09%, 4.59% and 3.56% respectively. Almost 60% of the industry shares rose against the market. From a capital flow perspective, the securities industry today received a net inflow of 2.553 billion yuan in core capital.Oriental wealth、CITIC values, Zhongtai Securities, CICC,China Merchants Values、The Pacific OceanThe other 6 stocks received significant net inflows of funds that exceeded 100 million yuan.
It is worth mentioning that since the CICC listing on November 2, CICC’s share price has continued to rise. Today it reached the daily limit, reaching 69.25 yuan per share, a new high. At the close of November 30, CICC’s share price was 65.19. Yuan, with a total market value of 314.689 billion yuan, ranking third among listed securities firms.
After the September and October adjustments, the securities industry index finally rose in November, with a cumulative increase of 6.91% in November, outperforming the Shanghai Stock Exchange index over the same period (an increase accumulated of 5.19% in the month). Individual industry stocks also performed well, with 11 stocks increasing more than 10% each month. Among them, the latest closing price of the CICC sub-IPO rose 126.51% from the issue price of 28.78 yuan, Guosheng Financial Holdings rose 39.89% monthly, and Zhongtai Securities The cumulative monthly increase was 22.80%. From the perspective of the total market value of the securities industry, as of the close of November 30, the total market value of the securities industry was 4.156.982 billion yuan, an increase of 547.40 billion yuan from the end of the previous month, an increase of 15.15%.
Regarding the recent strength of brokerage stocks, Hu Bo, manager of the future star ranking private equity fund, said in an interview with a Securities Daily reporter that in the short term, the market is excited. Therefore, brokerage stocks have been better allocated, because brokerage stocks are implied market expectations for future market trend, so strong stocks of securities firms represent optimistic expectations of investors of the market. market for the future market. However, in the long term, the rise of securities firms is mainly due to the profound reform of the capital market. As an important part of promoting China’s economic development, the capital market is an important part of China’s economic development. As China’s economic development ushered in a new stage, capital market policy dividends will continue and the development of securities firms are expected to improve the fundamentals of the industry by opening up a new space.
Based on historical experience, most financial stocks have year-end market trends. The reason is that, after the announcement of the third quarterly report, A shares will usher in a period of performance gap. There will be no hidden dangers from short-term performance storms, and market preferences will appear to be true. Additionally, as the economic recovery continues to deepen, the funds are optimistic about next year’s macro trend, which is also good for financial stocks. From a financial point of view, monetary policy remains loose and good, and the market has sufficient liquidity. Compared to other pro-cyclical periods, the boom is high In the industry, the valuation of financial stocks is relatively low. Banks have already taken the lead in their performance. Equity stocks are more flexible as high beta products, “Tong Diyi, CEO of Longying Fortune Assets, told a reporter for the Securities Daily.
Regarding investment opportunities in the market outlook,Shanxi ValuesHe said that, in general, the registry system-focused capital market reform is an important factor to promote the valuation of securities companies in the future. As an important driver for high-quality capital market development, securities firms must be market-oriented and professional. Globalization and internationalization continue to advance and the long-term trend of improvement in the industry remains unchanged. Recently, the secondary market has continued to rebound, business opportunities have become more prominent, and the current valuation level of the securities sector is still in the lowest valuation area of the securities sector in the last decade. In terms of individual stocks, securities companies with the highest return on net assets are more favored by equity, and investors are advised to pay attention.
According to reporters from “Securities Daily”Color ladderStatistics show that in the last month, a total of 14 stocks of securities firms have received favorable ratings such as “buy” or “overweight” by institutions.Huatai Values, CITIC Securities,GF values、Eastern values, China Merchants Values,Guotai JunanThe 6 trading institutions are optimistic that the number of rating companies is above 4 levels.
In terms of investment strategy, Fangxin Wealth Fund manager Hao Xinming said in an interview with a Securities Daily reporter that the brokerage sector belongs to the category of “pro-cyclical” value stocks and is considered by the market as a bull market engine. It is a signal for the future market to be bullish. The bargain hunting design, from the cost performance perspective, the valuation of domestic brokerage stocks listed in Hong Kong is lower and suitable for price reversal, while the explosiveness of brokerage stocks than traded in A shares is more suitable for short-term trading.
Bohai Securities said that we maintain an optimistic long-term view of the industry. With strong capital strength and risk control capabilities, leading securities firms will benefit most directly under the policy of “backing up the pros and limiting the downsides” of deepening capital market reform. It is recommended to pay attention to the investment value of high-quality leading securities companies and recommend CITIC Securities and Huatai Securities.
Also, Tong Diyi believes that brokerage stocks can be considered index thermometers. If investors are bullish on the index over the medium to long term, brokerage stocks or brokerage ETFs are the best option to keep up with the overall rise in the index.
Table: List of stocks that rose more than 1% in the securities industry on November 30
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