Is Technology Growth Still the Mainline of the Market This Year-Private equity direct stores

Is Technology Growth Still the Mainline of the Market This Year-Private equity direct stores

Is technology growth still the main focus of the market, as capital from the north has been heavily used to sweep away goods

Invest in private equity funds, engage in direct store and private equity conversations. Apply for a business card on Paipai Network and join the private equity tycoon's circle of friends. Becoming a drainage network goldVEnjoy the privilege of offline private equity tycoon exchanges.
--
AThe stock has once again experienced a strong rebound after a sharp decline, with three majorstock market indexOn Monday, the group opened higher and rose higher, while the Shenzhen Composite Index briefly outperformed during the session4%At the end of the trading day, the increase slightly decreased, and as of the close, the Shanghai Composite Index rose3.15%Set the largest daily increase in nearly a year;Shenzhen Composite Index Rising3.65%Growth Enterprise Market Index Rising3.08%The transaction volume between the two cities has reached1.03Trillion yuan, this is also the ninth consecutive day that it has exceeded one trillion yuan. The industry sector rose on the whole, and the trend of infrastructure communication, the the Belt and Road, domestic software and other sectors improved.

Capital from the north killed the "return shot" and net inflow on the same day41.52100 million yuan, ending the previous consecutive period6Net selling for several trading days, with clear operating characteristics in the northbound fund band recently. Selling during hot market conditions and buying again during market declines and fluctuations. From the perspective of adding individual stocks, VankeAStocks such as Ningde Times, China State Construction Corporation, and Poly Real Estate have achieved the largest increase in holdings of northbound funds, with Huaxia Bank, Huadian International, Tiantan Biotech, Ruimaotong, and others continuously increasing their holdings3Tian obtained northbound funds to increase his holdings.

picture1.png

At present, the domestic epidemic has been effectively controlled, and the number of newly confirmed cases has significantly decreased. The resumption of work and production has accelerated the climb, and various fiscal and monetary policies for resumption of work have also been beneficial to the strength of the stock market. Slightly troubling is the global spread of the epidemic, which has caused some panic in the capital market in the short term. However, countries have also begun to attach importance to the spread of the epidemic and have taken a series of response measures. The significant decline in overseas markets last week released panic sentiment, and external risks have a significant impact onAThe trend of easing the impact of stocks, currentlyAThe upward space of stocks is greater than the downward space, and more institutions have proposedAStocks are truly safe haven assets in the global epidemic escalation.

The overall trend of the technology sector remains unchanged due to the pandemic, with opportunities for blue chip and growth

Although major institutions generally favored technology stocks last year2020The annual performance, but the popularity of technology stocks this year is still beyond imagination. The technology sector has been extremely bullish this year,5GSemiconductor themed stocks continue to soar, with funds pouring in from various sources. In order to meet investment needs, various fund companies2020Annual intensive new technology funds, only reporting and developing technology themesETFApproaching20Only. The continuous inflow of funds has also enabled technologyETFThe upward trend is promising, according to statistics, as of2month26Japan, Guotai Semiconductor50ETFHuaxia5G ETFHuaxia chipETFSince the beginning of this year, the share growth rates have respectively reached188.53%、114.25%、84.63%。

Recently, due to the spread of the epidemic overseas, US stocks have fallen for three consecutive days, affecting the trend of global capital markets. Last FridayAStocks are also experiencing a correction, with the ChiNext board experiencing a significant pullback, and the technology stock feast is experiencing a "strong cooling". In the early stage, popular technology stocksETFSignificant decline, with a significant decline2month3The largest in recent years, among which5GETFfall7.26%Semiconductor50fall9.34%Chip Fund Down9.34%, ChipETFfall9.21%Technology50Drop over6%。

The recent news of the suspension of application for technology equity fund products has also caused a great response in the market. Although it has been clarified that it is not true, the rebound strength of the technology sector has become slightly weak after experiencing a sharp rise in the early stage. Investors are currently most concerned about whether the technology stock market can continue and how much room there is for future growth?

For the upcoming market forecast, Jiang Rong, the CEO of Tiandi Asset Management, believes that the main board is likely to maintain a volatile pattern, and the ChiNext board has entered a period of adjustment, with high selling and low buying being the current main strategy. Regarding the style switching that is widely concerned in the market, Jiang Rong stated that the epidemic has not changed the trend of technology stocks. Both technology and blue chips have opportunities, but the probability of rotation is relatively high. The reason is that the economic impact in the first half of the year will not be too good, making it impossible for the capital to be too abundant. In addition, private placements and new stocks will attract a lot of funds, maintaining a neutral and optimistic outlook for the future.

Yan Le, the manager of Zhuozhou Investment Fund, believes that the technology industry is the core that leads future economic development and industrial upgrading. However, from a value investment perspective, it is still necessary to discover companies with long-term strong moats. Due to rapid technological development, technology companies have average product cycles3reach5In the year of, new technologies and products have high value, so the restructuring of the industrial chain is also very rapid. It is not easy to find an evergreen tree. The current high valuation of technology companies has already overdrawn their development for several years, and it is not easy to see the development situation of the next cycle clearly. Yan Le stated that the market's irrational expectations of these companies cannot be sustained in the long term, and investing in excellent companies at appropriate prices should always be the main focus of investment.

Regarding the investment in technology growth stocks, Chunda Fund stated that it is based on a comprehensive analysis of factors such as technology driven, industry development trends, and company fundamentals. This is based on the company's investment framework system, which is mainly based on macroeconomic, policy, industry prosperity, company fundamentals, funding, and other factors. Among them, industry prosperity and company fundamentals are key research and tracking factors, I hope to focus on exploring high-quality companies with long-term industrial logic, gradually realizing performance, and relatively cheap valuations, and holding them for a long time in exchange for space.

There have been subtle changes in the current market style. On the one hand, undervalued industry sectors including construction, infrastructure, and banking have been rising day by day, while undervalued blue chip stocks have shown a momentum of replenishment. On the other hand, the technology sector has been adjusting day by day.

For the discussion of style switching, in the view of Chunda Fund, style switching is only a phenomenon of market fluctuations, not the essence of investment, and therefore is not a key focus. I believe that regardless of the market style, the value of good stocks will be reflected and there will be no absence of any market trends.