CITIC Securities believes that the centralized adjustment of positions by institutions at the end of the year and the impact of individual liquidity events induced market volatility this week, but the disrupted expectations will reunite consensus, and the mentality and trading behavior of the year-end game may tend to ease after the new year. It is recommended Stick to the main line of pro-cyclical New Years Eve. In terms of configuration, pro-cyclical main lines, continue to recommend basic metals, energy metals, basic chemicals, and optional consumer industries such as home appliances, automobiles, liquor, home furnishings, and hotels. At the same time, pay attention to the two alternate lines at the end of the year. One is the relatively stagnant but booming products this year, including electronics, auto parts and light industry in the export industry chain, as well as high-quality real estate blue chips; the second is driven by institutional game at the end of the year. Rapid rotation opportunities in the pharmaceutical, new energy and food and beverage sectors.
Tianfeng Securities pointed out that, in the context of corporate profit expansion and the central bank’s over-renewal of MLF, the index has the conditions for shocks and upward movement. At this stage, it is mainly to find opportunities for spring disturbance. In the short term, we are optimistic about the full correction in the early stage and benefit from the food and beverage sectors in the peak consumption season at the end of the year, such as dairy products and snack foods. However, the valuation of liquor is more expensive and more emotionally driven, and is relatively cautious. Optimistic about the procyclical sectors that benefit from the global economic recovery and improved profitability, such as chemical and non-ferrous metals. Long-term optimistic about the new energy automobile industry chain, in addition to the entire vehicle, battery industry chain, and upstream resources, customers are also exploring auto parts companies that benefit from new energy and increase the value of bicycles.
Guosheng Securities pointed out that for the remaining half a month of 2020, the market is still dominated by turbulence. Short-term low-valued sectors are still worthy of attention. Cyclical stocks such as banking, non-banking finance, and real estate; meanwhile, pay attention to technology sectors that have fallen sharply. Individual stocks and new crown vaccine stocks. In the medium term, it still needs to be configured from the perspectives of economic recovery, the 14th Five-Year Plan, and prosperity.
Opportunities in the biomedical sector
On the news, starting from December 14, 2020, the three-day 2020 National Medical Insurance Catalogue Drug Negotiation was officially launched at the National People’s Congress Conference Center in Xicheng District, Beijing. Regarding the medical insurance catalogue negotiations, Guosen Securities believes that the price reduction of key products will be Recent important sentiment indicators in the market, it is recommended to pay attention to the leading segment of the field with innovative technology and core competitiveness, and related subjects that are not affected by medical insurance control fees.
In addition, according to Xinhua News Agency, my country currently has five new coronavirus vaccines in phase III clinical trials, and the number is among the highest in the world. Zheng Zhongwei of the National Health Commission stated that my country’s new coronavirus vaccine is preparing for mass production.
Wanlian Securities stated that in the short term, the pharmaceutical sector will still be affected by policy factors and there will be certain disturbances, but the pharmaceutical industry itself has consumer and technological attributes, and the trend of industrial upgrading remains unchanged. It is recommended to proceed from the logic of medium and long-term fundamentals. Major investment directions: 1. Innovative drugs and R&D industrial chain (CXO), policy-immunized medical services, high-quality leading companies in the pharmaceutical business sector, and some medical device stocks with innovative capabilities that are expected to achieve domestic substitution; 2. The future 1. -2 High-quality vaccine stocks with heavyweight products that continue to increase their volume and new product launch expectations in 2 years; 3. Focus on the industry’s third quarterly reports and performance-than-expected stocks.
AVIC Securities said that with the continuous advancement of the centralized procurement process of drugs and equipment, companies with strong innovation capabilities, rich product pipelines, and better competitive landscape are expected to continue to benefit. In the long run, it is recommended to continue to focus on the innovative drug industry chain, high-end medical equipment, medical services and medical consumption. It is recommended to pay attention to such targets as Hengrui Medicine, Mindray Medical, WuXi AppTec, Aier Ophthalmology and Opcom.
Reprint indicated source：Spark Global Limited information