Huatai Securities actively layout the theme of the two sessions, pay attention to emerging industry -www.haole10.com

Huatai Securities: positive attention to emerging industries layout NPC and CPPCC theme Sina Level2:A shares of sina finance client speed Kanpan: the most profitable investors in Huatai Securities major points: global risk appetite is expected to short-term repair, gold and the core of national debt or short-term overbought. A shares will be a step in the overseas stock market decline reflected during the Spring Festival and into the track of self. The dollar index fell, offshore renminbi rose above 6.5 RMB devaluation pressure, external storage pressure drop stage relief, while U.S. interest rate to further expand the central bank’s monetary policy will become loose or structural. A stock market will quickly return to the domestic factors, the two policy is expected to rebound in the key, is a domestic monetary policy easing is expected structural; two NPC and CPPCC policy is expected, especially in emerging industries. Pay attention to NPC and CPPCC related sector opportunities, focus on investment opportunities in emerging industries, including new energy vehicles recommendations concern direction and intelligent vehicle, intelligent manufacturing, health care, energy saving and environmental protection, new materials, big data cloud computing, networking, intelligent robots, which focus on manufacturing of integrated circuit, 3D printing, UAV etc.. At the same time, the proposals concern the local state-owned enterprises reform, the integration of Beijing Tianjin Hebei, underground pipe gallery, the theme of investment opportunities. Risk appetite is expected to short-term repair: during the Spring Festival global capital market staged crazy hedge, gold rose more than 10% in two weeks, the ten year treasury bond yields down to 1.6%, the global stock market fell sharply on Friday to rebound. Global risk appetite is expected to usher in a short-term fix, A shares after the restart next week, is expected to fall in the overseas stock market disposable digestion, and then to the domestic core logic based self into orbit. The offshore renminbi rose after the central bank’s monetary policy: subtle changes during the Spring Festival, with the dollar index fell, the offshore RMB exchange rate appreciation. The devaluation of the renminbi and foreign exchange reserve pressure downward pressure will appear decline stage. Due to the sharp downward yields on treasury bonds, U.S. interest rate is expected to further expand. The exchange rate of RMB under the stage of stabilization of the pattern of domestic monetary policy actually has a larger operation space. We expect to hedge downtown pressure on the economy, the higher the scope of RRR or structural easing can expect. Industrial capital reproduction to reduce the net decline in the proportion of financing, market value: 2 weeks before the Spring Festival (January 25th to 29) Yinzhengzhuanzhang net increase of 8 billion 700 million yuan, 1 weeks before the Spring Festival (February 1st to 5) Shanghai shares through a net outflow of 2 billion 820 million yuan. 1 weeks before the Spring Festival (as of February 4th) financing the balance of 888 billion 400 million yuan, compared to the previous weekend to reduce the 18 billion 600 million yuan, two financial financing market capitalization proportion dropped to 5.4%. Industrial capital net holdings, holdings of 4 billion 190 million yuan, reduction of 4 billion 450 million yuan, a net reduction of 260 million yuan, it is 15 years since July 12th second weeks of net holdings. Return to the domestic factors, looking forward to the spring bud: overseas market turmoil, joy and sorrow, from the factors of risk preference is not difficult, for the overseas market decline step can be modified in place. After correction, the A will return to the domestic A-share market factors. The biggest expectation lies in the policy to stimulate the rebound in risk appetite, policy theory

华泰证券:积极布局两会主题 重视新兴产业机会 新浪财经Level2:A股极速看盘 新浪财经客户端:最赚钱的投资者都在用   华泰证券   主要观点:全球风险偏好有望短期修复,黄金和核心国国债或已短期超买。A股将一步到位反映春节期间海外股市下跌影响而步入自我轨道。美元指数大跌,离岸人民币升破6.5,人民币贬值压力、外储下降压力阶段性缓解,同时中美利差进一步扩大,央行货币政策或将趋于结构性宽松。A股市场将迅速回归国内因素,两大政策预期成反弹关键,一是国内货币政策的结构性宽松预期;二是两会政策预期,特别是有关新兴产业。关注两会相关的板块机会,重点是新兴产业投资机会,建议关注方向包括新能源汽车与智能汽车、智能制造、健康养老、节能环保、新材料、云计算大数据、物联网等,其中智能制造关注机器人、集成电路、3D打印、无人机等。同时建议关注地方国企改革、京津冀一体化、地下综合管廊等主题投资机会。   风险偏好有望短期修复:春节期间全球资本市场上演疯狂的避险,黄金在两周内涨幅超过10%,十年期美国国债收益率低至1.6%,全球股市大幅下跌,上周五才出现止跌反弹。全球风险偏好有望迎来短期修复,A股下周重新出发后,有望一次性消化海外股市下跌影响,然后以国内核心逻辑为依据步入自我轨道。   离岸人民币大涨后的央行货币政策微妙变化:春节期间,伴随美元指数的大跌,离岸人民币汇率大幅升值。人民币贬值压力、外储下降压力都将出现阶段性下降。由于美债收益率的大幅下行,中美利差有望进一步扩大。人民币汇率阶段性企稳的格局之下,国内货币政策实际上有了更大的操作空间。我们预计为对冲经济下行压力,降准或者较高范围的结构性宽松可以期待。   产业资本再现净减持,融资市值比重下降:春节前2周(1月25日至29日)银证转账净增加87亿元,春节前1周(2月1日至5日)沪股通净流出28.2亿元。春节前1周(截至2月4日)融资余额8884亿元,相比此前一周末减少186亿元,两融融资 自由流通市值比重下降至5.4%。产业资本出现净减持,增持41.9亿元,减持44.5亿元,净减持2.6亿元,这是15年7月12日以来的第二次周度净减持。   回归国内因素,期待春的萌芽:海外市场动荡,有喜有忧,来自风险偏好的因素不难,对于海外市场的下跌一步修正即可到位。在修正之后,A股市场将回归国内因素。最大的期待在于政策来激发风险偏好的回升,政策预期来自于两方面,一是央行货币政策从确保汇率稳定转向兼顾国内流动性,货币政策结构性宽松的概率上升;二是两会上的政策预期,特别是对新兴产业的政策。   积极布局两会主题,重视新兴产业机会:两会对于A股而言将迎来重要的风险偏好修复机会。关注两会相关的板块机会,重点是新兴产业投资机会,建议关注方向包括新能源汽车与智能汽车、智能制造、健康养老、节能环保、新材料、云计算大数据、物联网等,其中智能制造关注机器人、集成电路、3D打印、无人机等。关注地方国企改革、京津冀一体化、地下综合管廊等主题投资机会。   风险提示:本文所涉及受益标的的梳理不代表投资建议,具体的投资建议,请以我司相关行业和公司研究为准。 新浪声明:此消息系转载自新浪合作媒体,新浪网登载此文出于传递更多信息之目的,并不意味着赞同其观点或证实其描述。文章内容仅供参考,不构成投资建议。投资者据此操作,风险自担。 进入【新浪财经股吧】讨论相关的主题文章: