Is there a chance for over 60% of private equity technology stocks whose confidence in A shares has plummeted？夜网
Is there a chance for over 60% of private equity technology stocks whose confidence in A shares has plummeted?
After the epidemic, where are the investment opportunities in 2020?Come to Sina Finance University, 6 private equity leaders show you the investment strategy of the post-epidemic era. Original title: The external market has continued to fall, and more than 60% of private equity has full confidence in A shares!Is there still a chance for the tech stocks that have plummeted today? Source: Daily Economic News Every reporter Yang Jian every editor He Jianling The peripheral market plummeted for two consecutive days. The A-share market’s Shanghai index fell slightly after yesterday’s earthquake after a thrilling “V-shaped” reversal yesterday.In the turbulent market in the last two trading days, private equity fund managers carried out a series of tense operations such as increasing, reducing, and adjusting positions. At present, the question that investors are most concerned about is: do the A shares follow the plunge on the periphery?How much room is there for technology stocks that are rising too fast?”Daily Economic News” reporters noted that the results of a questionnaire showed that 63.64% of private equity believes that the A-share market can withstand the continued plunge of the peripheral market; once it falls, there are 72.73% of private placements consider it a good opportunity.For technology stocks that have already increased, 81.82% of private placements do not support participating now. Over 60% of private equity believes that A shares have the ability to withstand the slump of the Royal Periphery for nearly two days. The peripheral stock market has ushered in a continuous slump, and today’s A shares cannot be as good as yesterday.Today’s early markets in the two cities are full of ebb tide, PCB, electrolytic glue, gallium nitride, HIT batteries, domestic chips and other sectors led the two cities down.So, will A shares follow the trend of the external market?According to the latest private equity survey by Paiwai.com, 63.64% of private equity believes that the A-share market can withstand the continued plunge of the peripheral market; once it falls, there are 72.73% of private placements consider it a good opportunity.This year, technology stocks have surged, with 100-yuan stocks constantly emerging, which has accumulated higher gains of 81.82% of private placements do not support participating now. Li Bao, who started with Qianhai Qianyuan in Shenzhen, said that the plunge in the surrounding markets was mainly due to the release of panic caused by the spread of the epidemic, which may have some impact on the domestic capital market, but the impact should be relatively limited.On the whole, A shares will still follow the movements of the external market, because now the industry chain and capital have been transformed.However, the follow-up of A shares will not be too big, and now they have come out of their own pace.Li Bao said: “In fact, we started to increase positions on February 4th, and got better returns, and then gradually withdrew from the 20th.The idea at that time was very simple-there was a problem with liquidity, and generally there were no major problems. It was a short-term event shock, which was often a very good short-term buying point.We have been holding low positions since February 24, because local A-share bubbles are very serious, and individual sectors have exceeded the overall revenue of 2015.Xingshi Investment ‘s chief research official Lei believes that the initial outbreak of A-shares in the A-share market may include two aspects: first, the initial spread of China ‘s epidemic, which was also initially controlled; under the actual internal response, it is already in a good direction.Development, resumed work and production started in an orderly manner.Introduced into the initial classification of counter-cyclical adjustment policies continued to be introduced, the overall performance of the stock is still relatively involved.Usually, the panic caused by the domestic epidemic has been released on the first day after the opening of the Spring Festival. On the day, more than 3,700 stocks of all A shares had more than 3,100 limit stops, and the Shanghai index fell by nearly 7%.To the current peripheral market.Therefore, the current external market has plummeted, and the impact on A shares should also be much smaller. Zhai Jingyong, general manager of Rongshu Investment, said that from the perspective of the epidemic, the domestic epidemic has been effectively controlled, and pessimistic expectations have also been reflected in the market.With the gradual decline of the domestic epidemic, more and more enterprises will resume work and production. The impact of the epidemic on the domestic economy will become smaller and smaller, and economic activities will also enter a recovery period and a rising period.In response to the impact of the epidemic, the government has proposed a series of economic hedging policies, which stabilized the confidence of market investors.He also believes that if some high-quality assets follow the market decline, they are a better investment opportunity.From another perspective, this is also a round of “survival of the fittest” in related industries. Through this incident, some companies with poor anti-risk capabilities that do not become core competitiveness will be eliminated. After the epidemic is over, the concentration of various industries will further increase., But in favor of leading companies. Hou Yanjun, Hou Shi Tiancheng told reporters that the plunge in the external market and the previous decline in A shares were due to the impact of the epidemic.Because A shares have experienced a decline before, and gradually release liquidity after the holiday, this round of upswing is basically the result of liquidity.Before the Spring Festival, the market was about to move, just because the sudden outbreak caused the market to come to an abrupt halt.At present, due to the gradual easing of market liquidity, the fundamental analysis and technical analysis have failed at this stage. The best way to deal with it now is to “wave when the waves come,” but you must also have some in mind.At present, after the surge in technology stocks, it is definitely not the time to step in according to rational thinking, but given the abundant liquidity, it is difficult to say how the market will go. How much room does technology have for individual stocks? So, is the technology sector that has accumulated higher gains suitable for investor participation? Zhai Jingyong of Rongshu Investment believes that through the transformation of national economic momentum from traditional industries to new technology 天津夜网 industries, the new technology direction contains huge investment opportunities.He is highly optimistic about new energy, 5G application and investment opportunities in the semiconductor industry, and believes that these three directions will continue to become the main investment line of the market.The trend of automotive electrification is accelerating. Is the new energy automobile industry the future 5?One of the most promising industries in the past 10 years; the transformation into 5G business has accelerated, 5G low latency, high bandwidth, and large connection characteristics will drive subversive changes in the C- and B-end industries; the country provides alternatives for the development of the semiconductor industryIndustry policy and financial support, the domestic replacement of software and hardware in various industries in the future will become a deterministic opportunity for China’s technology industry.Although individual stocks in these fields have accumulated growth in the short term, the long-term growth prospects are huge, and the continued growth of future performance will gradually digest the existing overvaluation. Fang Lei also said that the recent market conditions continue to ferment, and growth stocks represented by the GEM have repeatedly hit record highs, and many investments have been profitable.At present, the absolute estimates of some local sub-industries among growth stocks are indeed high, and there may be pressure for a periodical break in the short term, but the overall growth stock expectations are still in a reasonable range.At least three points are relatively certain at present: ① In order to hedge the short-term impact of the epidemic on the macro economy, monetary policy and fiscal policy will continue to work; ② market liquidity is still sustainable and reasonable; ③ industrial transformation and upgrading is a certainty trend in the future.Therefore, although some popular sub-sectors currently have lower performance-to-price ratios compared to consumer and cyclic categories, the trend of growth stocks in the entire technology category should still be upward. From the comparison of growth stocks and large-cap stocks, Fang Lei believes that the current estimates of growth stocks do exceed large-cap stocks.However, from a global perspective, because of the growth of technology-type growth stocks, investors will be more tolerant of valuations.In the medium and long term, the economic growth of developing countries has shifted from a high speed to more expected development, and further industrial transformation and upgrading in the future will be a deterministic trend.Relying on the internal demand market, and expanding the huge support of engineers’ dividends and financial, industrial and other comprehensive policies, the gradual industrial transformation and upgrading have been accelerated.Therefore, the answer to the question of whether there is room for future growth stocks is clear: with the start of a new round of technology cycles, the long-term positive trend of growth stocks should be relatively certain. And Beijing Heju Investment pointed out that technology stocks have fully blossomed in the past years, and many sub-sectors have seen relatively large increases.”We generally feel that technology stocks will still be in a relatively active stage in 2020, especially in the first half of the year.Standing higher, we feel that behind its prosperity is the overlap of the triple cycle, which is also the essence behind this round of technology stocks.The first cycle is the technology cycle, with the application of communication technology as the core. In 2020, we are at a new stage where 5G is transitioning to consumer-grade first-level applications; the second is the capital cycle, where the technology sector is now in historyIn the very rich financing environment, the investment and financing needs of the technology industry are also very active. It is estimated that the environment has re-entered a new upward cycle, pulling from the secondary market to the primary market chain.The third is the economic cycle. Technology stocks have their own independent features of technological iteration. Therefore, in a macroeconomic downturn environment, the capital market may instead be willing to give a higher valuation to assets that are not in a macroeconomic cycle from the perspective of multiple asset allocation.The reason for the value.Under the overlapping of the above three cycles, we feel that the amplitude and time span of the boom in the technology stocks may be relatively rare in history.”New pneumonia epidemic situation in 330 cities