After the Shanghai Composite Index bottomed out at 2646.8 points on March 19, the A-share market began to pick up gradually. As of April 16, the stock market has rebounded to 2819.94 points. So, has the A-share market recovered from the bottom? Will there be a time window for increasing positions in mid-to-late April?

From the survey data given by the private equity ranking network, the current private equity industry’s overall research and judgment on the operation of the A-share market in the short to medium term is still positive. 73.65% of private placements believe that with the comprehensive promotion of resumption of production and domestic policies, and the increase in domestic policies, the probability of the A-share market plunging again recently is relatively low, and it may be considered to increase positions. The market needs to wait for the rapid recovery of physical data or the policy exceeds expectations, and it is still cautious in the near future.

The enthusiasm of private equity to participate in the market can also be seen from the scale of securities private equity.

The latest monthly report of private equity fund registration issued by China Securities Investment Fund Association shows that as of the end of March, there were 85071 private equity funds on record, an increase of 1690 from last month , An increase of 2.03% month-on-month; the scale of the existence of private equity funds increased by nearly 360 billion yuan to 14.25 trillion yuan, an increase of 359.914 billion yuan from the previous month, an increase of 2.59% month-on-month. Among them, there are 44,117 private equity investment funds on record, with a fund size of 2.61 trillion yuan, an increase of 82.82 billion yuan from the previous month, and an increase of 3.28% from the previous month.


The picture comes from China Securities Investment Fund Industry Association

Xingshi Investment believes The future will affect the A-share marketThe determining variable of the trend is whether the counter-cyclical adjustment policy can keep up. Judging from the current situation, the high probability of counter-cyclical adjustment policies will keep up. Due to the inconsistency between China and overseas epidemic prevention and control cycles, the large stock market cycle also has relatively large differences (for example, before the adjustment, US stocks are at a high valuation, A shares are still at the bottom of the valuation), superimposed subsequent counter-cyclical adjustment policies With continued efforts, the overall positive trend of A shares should be relatively certain.

In addition, with the continuous disclosure of the first quarterly performance bulletin, the impact of the new coronary pneumonia epidemic on the performance of listed companies has gradually begun to show. How should investors participate in the quarterly market? br>

Cheng En Capital said that from the time point of view, the market has entered a quarterly intensive disclosure period, and there is a strong wait-and-see mood for funds. The market style has changed from high-value technology stocks to white horses. Leading stocks; technically, the market is in a stage of weak rebound and disorientation. There is no effective volume breakthrough in the pressure band of 2830-2850 points on the Shanghai Stock Exchange Index, indicating that the region is under greater pressure. Although the social finance data in the first quarter exceeded expectations, the market’s expectations of the new coronary pneumonia epidemic dragging down the global economy have not changed. It is expected that the market will remain vulnerable to shocks this week. In the weak stage where the Shanghai Composite Index has not exceeded the volume of 2830-2850 points, control the position to operate below 50%, and wait patiently for low suction opportunities.

Pang Chun, the manager of Zhejiang ether investment fund, said that although the first quarterly report mainly focuses on the Growth Enterprise Market, it is also more representative of the impact of the epidemic on SMEs. In terms of breakdown, the industries with high growth in the first quarter report mainly include agriculture, forestry, animal husbandry and fishery, semiconductors, medical drugs, electrical equipment, electronic equipment, food and beverage industries. The impact of the epidemic has not yet been reflected. Agriculture, forestry, animal husbandry, fishery, food and beverages, and medical drugs are less affected by the epidemic and have a higher prosperity. In the downturn of the global economic recession, the risk of de-globalization led by developed countries is rising. In addition to participating in high-benefit mandatory consumption, domestic substitution will also be the direction of key layout.

Introduction of Chunda Funds, from the perspective of market impact, the sharp decline in the first quarter report is basically expected by the market, and the current market focus is the performance outlook for the second quarter. Due to the spread of overseas epidemics, the inflection point is difficult to find. The mainstream view generally expects that the overseas economy will decline sharply in the second quarter, resulting in a decline in China’s overseas demand and supply chain failures, affecting the performance of listed companies in the second quarter. From the perspective of the quarterly report, we focus on evading industries and sectors that experienced declines in the first and second quarters, such as consumer electronics, textiles and apparel, especially companies with a relatively large overseas demand. The sectors that performed well in the first quarter included medicine, consumer staples, games, and online office. Recently, the domestic demand and defensive sectors of the market have performed strongly.Reflect the expectations of this part.