With the recovery of the A-share market, the bulk trading market staged an active scene!

On February 23, a number of white horse stocks, such as Lixun precision, Hikvision, Gree Electric, focus media, Hengyi petrochemical, Dongfang Yuhong and Midea Group, were intensively traded in the bulk market according to the closing price, and the recipients were institutional special accounts.

Among them, there were 11 transactions of Lixun precision, with an amount of 172 million yuan; Hikvision has a total of 9 transactions, with an amount of 156 million yuan; Focus media has a total of 13 transactions, with an amount of 140 million yuan; Gree Electric had a total of 12 transactions, with an amount of 133 million yuan.

It is worth noting that on the 22nd, Ping An of China rarely obtained a premium transaction of up to 12.25%.

“The market suddenly shows that so many white horse stocks are traded at the closing price parity, and all of them are received by institutions. It is possible that institutions build positions and are optimistic about the medium and long-term investment value of the above white horse stocks, so they buy them all.” The person in charge of a private placement in the south said.

White horse shares are traded in bulk, and the receiver is all institutions

The trend of block trading market often reveals important information, especially unusual actions.

On February 22, Ping An of China obtained a premium of 12.25%, with a turnover of 284700 shares and a turnover of 16.95 million yuan. The buyer and the seller are two different business departments in Shanghai under Huatai Securities. It is reasonable to say that the transaction volume is less than 20 million yuan. They can buy directly in the secondary market. I don’t know why they pay such a high premium. Some institutions said that it may be a position adjustment behavior, not a real transaction.

In contrast, on February 23, the block trading market staged a quite active scene. A number of white horse stocks such as Lixun precision, Hikvision, Gree Electric Appliance, focus media, Hengyi petrochemical, Dongfang Yuhong and Midea Group appeared in the block trading market, and dozens of transactions occurred in many cases. The turnover of five shares such as Lixun precision exceeded 100 million yuan.

Specifically, there were 11 transactions of Lixun precision, with an amount of 172 million yuan; Hikvision has a total of 9 transactions, with an amount of 156 million yuan; Focus media has a total of 13 transactions, with an amount of 140 million yuan; Gree Electric had a total of 12 transactions, with an amount of 133 million yuan; Hengyi Petrochemical has a total of 12 transactions, with an amount of 120 million yuan; Dongfang Yuhong has a total of 7 transactions, with an amount of 73.69 million yuan; Midea Group has a total of 7 transactions, totaling 74.64 million yuan.

What is rare is that all the above-mentioned shares are traded at the closing price, and the offerors are institutional special accounts, while most of the seller’s business departments are CICC Shanghai Branch.

In addition, there were 10 block transactions in Moutai, Guizhou, with a total transaction amount of 200 million yuan, which were also concluded according to the closing price, but the buyer’s business department is not a special account for institutions.

An institutional source told the Chinese reporter of the securities firm that generally, the bulk market is traded at a discount. Because of the large trading volume, the liquidity compensation is given to the receiving institution, and the receiving party can make money only when it sells. Parity and premium transactions are usually regarded as the possibility of undervaluation.

According to wind data, the average discount rate of block trading was 6.80% in January this year and 6.51% in December last year, that is, most stocks were traded at a discount.

“The market suddenly shows that so many white horse stocks are traded at the closing price parity, and all of them are received by institutions. It is possible that institutions build positions and are optimistic about the medium and long-term investment value of the above white horse stocks, so they buy them all.” The person in charge of a private placement in the south said.

The above private placement said that public funds and asset management of securities companies are the main recipients in the current market, but many private placement institutions also use institutional seats. In this way, the behavior of collectively buying a batch of stocks at the closing price is obviously that the market may pick up next, and the undervalued white horse stocks have investment value.

The recovery of a shares remains to be tested, and value stocks may alleviate the impact of market fluctuations

After a month, A-share transactions reappeared trillion. On February 23, the three major A-share indexes rose across the board, and the gem rose by more than 2.8%. The semiconductor and lithium battery sectors made a comeback and rebounded sharply. A big positive line has significantly warmed up market sentiment, and many institutions believe that track stocks will usher in a rebound.

Pan Yao assets pointed out that, from the valuation point of view, the valuation of new energy, military industry, semiconductor, including pharmaceutical stocks and other sectors, after the callback, the bubble has been greatly digested and returned to a reasonable level, and some of the segments of the industry have entered an undervalued area. The growth sector has fallen for nearly three consecutive months, and has reached a new high in recent years regardless of the adjustment space and time. On the other hand, high-quality companies in the upcoming annual report and first quarter report will reshape their growth expectations. We believe that they have entered the stage of stabilization and differentiation. In fact, since last week, leading companies such as new energy vehicles, photovoltaic and consumer medicine have ushered in a sharp rebound.

Xingshi investment said that at present, our overall view of the market is still optimistic, and there are still good structural opportunities in the market that are worth exploring. Recently, fluctuations in overseas markets have indeed had an impact on domestic market sentiment. From the perspective of the industry, the improvement of the economy will lead to the improvement of the prosperity of more industries. Compared with 2021, it is expected that the market style in 2022 will be more balanced, and some sectors with reasonable valuation and strong driving fundamentals may already have high medium and long-term investment value. We pay more attention to fundamental research than worry and panic.

However, many institutions are cautious and even believe that the global market will soon enter a high-risk period.

Fusheng assets believes that the market is more guided by emotional expectations than the actual performance trend as the guide of stock price. From the liquidity level, US inflation is high, and it is imperative to raise interest rates; However, at the same time, China’s social finance data increased significantly month on month, and the domestic expectation of “wide credit” for liquidity is strong. On the other hand, even if the epidemic occurs repeatedly, it will bring some troubles to the resumption of work and production; However, the market has also reached a consensus on giving priority to stable economic growth during the year. From the perspective of general logic, it seems that there are some contradictions and opposites, so we still maintain a cautious attitude as a whole.

Hong Hao, managing director and head of Research Department of BOCOM international, also said that it has become a market consensus that China has entered the loose stage. However, it is asserted that the easing policy will be transformed into market performance overnight