Author | Shenpeng
Data support | Pythagorean (www.gogudata.com)
Just now, the innovation record.
The market turnover is 2546.5 billion yuan, which exceeds 2 trillion yuan for 5 consecutive trading days to set a historical record.
The science and technology innovation 100 index rose more than 5%, which was only one step away from the high level on October 8.
In the past week, the science and technology board index continued to rise, which is the only one in the main A-share stock indexes, which is very powerful.
Even if a week with a very high volatility, there are US elections, Federal Reserve interest conferences, and peoples conferences. Many indexes have high fluctuations.Creative boards still do not change the trend.
Open today. When some large market indexes are slightly sluggish, the science and technology board rises from beginning to end.
It can be said that the science and technology board has continued to become a highlight of the A -share market.
What is the unique attraction of the science and technology board?
01
Why rise sharply?
Today, the A -share semiconductor rose collectively.
Among them, Huahong Company rose 14.99%, the core source rose by 9.83%, the core core rose slightly by 5.11%, Anji Technology rose 3.89%, Ruichun Weinan slightly increased by 2.94%Stewell rose 2.88%.
In the popular concept index of Wind, the top ten are related to semiconductor.
The reason is related to the United States. It is reported that the United States requires TSMC to stop supplying advanced AI chips to mainland Chinese customers from the 11th, causing funds to pour in funds.Semiconductor domestic replacement of this theme.
In addition to semiconductors, other technology stocks, such as biopharmaceutical stocks, lithium battery stocks, photovoltaic stocks, software stocks, also rose.Baiji Shenzhou, one of the leaders of innovative medicines, rose 3.08%. The Rongbai Technology of Lithium Battery Concept Stocks rose to 15.08%.Energy storage company has also risen by 6.73%.
The original expected, the traditional sectors such as real estate and consumption have fallen.
Obviously, the funds switch again. The outflow place is the traditional value plate, and the flowing place is the scientific and technological innovation sector.
The reason, On the one hand, it is related to the high expectations of the previous traditional value sector. WithThe scientific and technological innovation sector continues to have news stimulation.
Of course, there are many scientific and technological innovation indexes, but the performance of the science and technology board is relatively good. Why?
02
Why is it a science and technology board?
Looking back on September 24, since the rise of this round, several major stock indexes of A shares, including Shanghai Stock Exchange, Shenzhen Index, GEM, Science and Technology BoardAnd North Cover.The largest increase and the high level on October 8th is the North Stock Stock Exchange, followed by the science and technology board, which is infinitely close, and the rest is still a distance.
From the level of transaction, it can return to the high level on October 8th, indicating that the index itself is more attractive to the market.
Take the science and technology board, because a large number of listed companies with better future growth have been concentrated, and they are sufficient in long, neutral and short -term value.For example, semiconductors, long -term logic of domestic replacement, the middle line has the logic of cyclical reversal in the industry, and the short -term financial reports are favorable.In reverse boom, the market will trade while the news is stimulated, thereby promoting the stock price rising.
From the ingredients stocks of the science and technology board -related index, we can see a relatively distinct feature, that is, there are more hard technology of science and technology boards, and the balance is betterEssence
Take the science and technology innovation 100 as an example.24.8%, chemical pharmaceuticals accounted for 10.1%. The next three are medical devices, batteries and photovoltaic, respectively, accounting for 8.5%, 8.5%, and 7.4%, respectively, and then the fields of biology, electronics, software.
From the perspective of component stocks, the Science and Technology 100 Index gathers a large number of hidden champions and specialized new companies, compared with mainstream hard technology indexes, science and technology innovation 100 specialty specialtiesNew proportion is 44%.
It can be said that many companies on the science and technology board belong to the most vigorous high-tech industry in the world and China.Representatives of productive forces also shoulder the heavy responsibility of the national transformation of high -quality development. These companies can develop and grow in the future, and once, they have also been related to the success of the states transformation and upgrading.
Moreover, most companies in these industries are still in a relatively early stage of development.Its big.
More importantly, the high growth of these companies is gradually being verified.
The science and technology board listed companys three -quarter report transcript is basically disclosed. According to Wind data, the current A -share market has more than 570 science and innovation listed companies, achieving operating income of more than 930 billion yuanThe net profit of Yuan and Guiyu was more than 44 billion yuan.Among them, 366 operating income increased, accounting for more than 60 %, and 266 listed companies with net profit attributable to mothers accounted for about 50 %.
In the market rising market, the Science and Technology 100 Index has shown high elasticity.
Funding is continuously inflowing into the theme ETF of science and technology innovation.588220), its latest share is 8.325 billion, ranking among the top of similar products, with an average daily turnover of 834 million yuan in the year, and the exchange is active.
It is worth mentioning that the management rate of science and technology 100ETF Fund (588220) and its connection (A: 019861, Class C: 019862) is 0.15%,The custody rate is 0.05%, and the rate is the lowest, which helps investors inside and outside the field reduce holding costs.
3
What is a good strategy?
In previous articles, we expressed a point of view more than once, in the market where the current liquidity is sufficient and the transaction value continuesIt is one of the optimal strategies with high flexibility, fundamentals and growth indexes, sections and companies.
Compared with the large -cap stocks such as Shanghai Stock Exchange and CSI 300, they are of good fundamentals, but the companys future growth and price elasticity will be relatively weak.And most of the companies inside are high and macroeconomic correlation, and the corresponding economic data is required as a premise that the market will intervene on a large scale.
If it is a stable investor or a very large plate of funds, choosing this type of index or large -cap stocks is understandable, and what you want is stable.But for higher risk preference funds, you need to choose higher elasticity.
Some people will first think of the Bei Certificate 50. After all, the increase in the world in the past month is the only stock index that has exceeded October 8th.As far as the yield alone is concerned, the Bei Stock 50 period is undoubtedly high, but it is necessary to remind investors that the fundamental aspects of the ingredients stocks of Bei Stock 50 will be relatively weak, because a considerable part of these companies are in a loss state, and these companies are in a loss state.Investing in them is closer to the feeling of venture capital and PE.
Is there both of them to take into account both?
Of course, in fact, the GEM and the science and technology board meet the requirements. In contrast, the correlation with the broad market index such as the Shanghai Stock Exchange is lower.
What are the benefits of this?
The probability of A shares has entered a state of slow cow, and the broader market index has the power to rise, but the elasticity will be weaker. The reason has been said before.Will chase in.In addition, the official media also released the view of the slow cow.
So, in the short term, wanting to be as skyrocket as September, the possibility is not high.
However, the market has a lot of hot money, and the daily transaction volume is over trillion, and many trading days have exceeded 2 trillion.If these money is unwilling to flow into large -cap stocks, where will it flow?
The answer is subject matter, message stimulation, scientific and technological innovation theme, and so on.
At the same time, the correlation with the broader market index is low, the degree of freedom is higher, and it is not easy to be affected by the broader market index and get out of a relatively independent upward market.
The above is why the science and technology board can be strong.
4
Conclusion
The fiscal scale announced last Friday has a certain amount of excessive expectations with the market that was too high in the market, leading to related indexes, such as A50 futures and Yinn of overseas markets, all of which have fallen.
The A -share and Hong Kong stocks as a whole after the opening of the market today also fell.
However, a rebound began in the afternoon, showing the unique toughness of A shares. The pioneer of rebound is a science and technology board, which further verifies the advantages of the science and technology board and the attractiveness of the current funds.
As for the future?
We see that the factor of favorable science and innovation boards, such as loose liquidity, the growth of composition stocks, continues to be fulfilled, capital embrace the theme of scientific and technological innovation, the states autonomous and controllable strategyPerseverance and so on, these factors are all.
In fact, after July this year, various macro factors gradually became clear.The global macro environment has shifted from a high uncertainty to the honeymoon period. Enterprise profitability, risk -free interest rates, and risk appetite have positively play a positive effect. The rise of the science and technology board can continue.
Now, the retracement after October 8 is just the "rest" in the process of rising. The science and technology board has the opportunity to continue to reach a new high.(After the full text)
