◎Reporter Fei Tianyuan
After a brief shock last week, the A-share market resumed its upward trend this Monday, with the three major indices opening lower and higher, and the Shanghai index re-stands at 3,400 points.As of yesterday's close, the Shanghai Composite Index was at 3405.43 points, up 0.53%; the Shenzhen Component Index was at 13026.25 points, up 1.29%; the ChiNext Index was at 2834.69 points, up 1.90%.
The A-share market ushered in a new milestone yesterday - the official opening of ETF trading under the interconnection.On the same day, 64 of the first batch of 83 A-share ETFs rose, accounting for nearly 80%.The foreign institutions interviewed said that the inclusion of ETFs in China Connect is another benchmark for the continuous opening of China's financial market, and it is expected that more foreign capital will flow into the A-share market through the Connect mechanism in the future.
The strong rise of the pharmaceutical sector
Yesterday, the previously quiet pharmaceutical sector suddenly rose and jumped to the leading position shortly after the opening, driving the GEM index, which has a higher share of pharmaceutical equity, to take the lead in turning red.As of the close, the Shenwan Pharmaceutical Biological Index rose 3.86%.CRO and "monkeypox concept stocks" under the subdivision are more prominent. Zhijiang Bio has risen by 15.75%, and many stocks such as Zhaoyan New Drug (603127) and Jiangsu Wuzhong (600200) have daily limit.
On the news, the National Health Commission recently issued the "Technical Guidelines for the Prevention and Control of Monkeypox (2022 Edition)", which requires that during the quarantine period of existing inbound personnel, while screening for new coronavirus infection, all localities should take the initiative to screen inbound personnel for monkeypox virus. , especially those who have a history of living in a country where the monkeypox epidemic has been reported within 21 days before entry.
The pharmaceutical team of CITIC Securities stated that the current global monkeypox epidemic continues to ferment and develop beyond expectations.As of July 2, a total of 6,178 confirmed cases of monkeypox have been reported in 67 countries, and the monkeypox epidemic is still in the stage of accelerated growth.This round of monkeypox epidemic spreads rapidly, and the transmission chain is still unclear, and the follow-up development needs to be closely followed.
Regarding the investment strategy of the pharmaceutical sector in the second half of the year, CITIC Securities believes that the certainty of performance growth and the degree of fulfillment will become the key to selecting individual stocks.The core industry chain of biopharmaceutical manufacturing and scientific research will still be the most important main line of biopharmaceutical investment layout in the second half of the year. It is recommended to explore forward-looking companies with outstanding technology and management capabilities, and deploy the “hidden champions” that may appear in the development of the biopharmaceutical industry. ".
Semi-annual report performance is still the main line
After most growth stocks rebounded to their highs this year, the upcoming semi-annual results will undoubtedly become an important indicator to verify their "quality".Recently, a number of companies have fluctuated in their share prices after disclosing their semi-annual results forecasts.It can be seen that the fundamentals have replaced the capital and become the most important logic for the current market to affect the rise and fall of individual stocks.
Sanfu Co., Ltd. (603938) disclosed an announcement on the pre-increase in performance last weekend. It is expected to achieve a net profit of 396 million to 425 million yuan attributable to the parent in the first half of this year, an increase of 167.83% to 187.44% year-on-year.Subsequently, a number of brokerages followed up on the research report of Sanfu shares, emphasizing that the performance of the semi-annual report exceeded expectations.Boosted by this, Sanfu's stock price opened higher and went daily limit yesterday. Since the bottom of the market at the end of April, the cumulative increase has exceeded 110%, and it has once again approached a record high.
Based on the lower limit of the forecasted net profit year-on-year increase of no less than 100%, as of yesterday's pre-market, 23 A-share listed companies have forecasted that their semi-annual report performance is expected to increase significantly.In the past five trading days, although the Shanghai Composite Index rose less than 1%, 21 of the 23 listed companies rose, with an average rise of 10.84%.
China Connect ETF Trading Officially Launched
According to the arrangement of the Shanghai, Shenzhen and Hong Kong stock exchanges, ETF trading under the interconnection officially started yesterday, and the first batch of 83 A-share ETFs were included in the interconnection mechanism.As of the close, 64 of the 83 ETFs rose, accounting for 77%, of which the biomedical ETF (512290) and the innovative drug ETF (159992) both rose by more than 5%.
It is worth noting that the turnover of most of the first batch of A-share ETFs included in China Connect has increased.According to the data, the first batch of 83 A-share ETFs traded a total of 23.076 billion yuan yesterday, an increase of about 14% from last Friday's turnover (20.257 billion yuan).Among them, the 40 billion-scale CSI 500 ETF (510500) traded 1.984 billion yuan yesterday, more than double the turnover of last Friday (972 million yuan).
Ming Fang, China head of UBS Global Financial Markets Department, told reporters that the ETF interconnection is the first time that targets other than stocks have been incorporated into the relevant mechanism, and it is another benchmarking measure for the continuous opening of China's financial market.In the context of this year's global capital market being affected by macroeconomic, geopolitical, epidemic and other uncertain factors, this measure has a directional incentive to boost the confidence of overseas investors.
"We expect that the interconnection of ETFs will drive a marginal increase of about 10% in A-share market transactions and capital volume." Landlord Ming predicted.
Christina Ma, Head of Greater China Equities at Goldman Sachs Global Markets, said that the inclusion of ETFs in the interconnection mechanism will be a landmark event in the expansion of new trading tools since the establishment of the interconnection mechanism between the two stock markets, which will not only further strengthen the mainland The integration between the market and the Hong Kong market is also an important step in the opening of China's ETF market to international investors.
"Market funds (especially northbound investors) have been looking forward to the inclusion of ETFs in the interconnection mechanism for a long time." Ma Zhiping said, "On the first day of trading, we saw positive feedback from foreign institutional investors, and the Goldman Sachs trading team has completed multiple interconnection mechanisms. Goldman Sachs expects that more foreign capital will flow into the A-share market through the ETF interconnection mechanism in the future.”
(Editor in charge: Li Rong)
