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The A-share market is about to usher in the May Day short holiday, and the latest questionnaire survey from a third-party organization gives the current choice of private equity firms as to whether to hold shares or money.
According to the survey, nearly 60% (59.Multiwheelrouletteonline.57% of the private equity recommendations, can be heavy positions or full positions (positions more than 60%) hold shares for the holidays; for the post-holiday A-share market performance, more than half of the private offerings are optimistic.
60% of the private equity positions are heavy or full for the holidays.
Holding currency or holding shares during May Day short holiday?
The survey results of the private placement network show that 59.57% of the private equity proposals hold shares (positions are more than 60%), and the relevant private placements think that there is limited room for market adjustment; 31.91% of the private equity recommendations are "half and half" (40% of the positions are 60%). The relevant private placements are mainly concerned about the uncertainties during the holiday period; only 8.51% of the private offerings suggest holding coins (positions less than 40%).
Data source: private placement network
Rongzhi investment fund manager Xia Fengguang said that in the past week, the trend of the A-share market first suppressed and then rose, and the hot spots of the plate were more active, indicating that market sentiment is gradually recovering and confidence in being long is also increasing. It is worth mentioning that after experiencing the decline in trading volume in previous trading days, the market trading volume enlarged rapidly on Friday and there was a large inflow of northbound funds. In addition, the performance of overseas markets has been relatively weak recently, and the expectation of the Fed to cut interest rates has been continuously delayed. In this context, the recognition of overseas funds to A-shares has been enhanced, and the inflow of northbound funds and daily turnover have reached a new high as a whole.
Zhang Xiaodong, manager of the gecko capital fund, said that recent US economic data show that its GDP growth is slowing and inflation remains high, and the Fed is less likely to cut interest rates this year. China's GDP grew by 5.3% in the first quarter, with strong export data and good manufacturing recovery (Jin Kirin analyst), and is expected to achieve higher growth for the whole year. Against this backdrop, foreign investors have recently begun to buy net Chinese equity assets, and the institution tends to hold relatively high positions for the holidays.
In addition, Chen Chengjie, chairman of Yuanli Fund, said that the amount of unilateral net purchases of funds from Beijing on Friday reached the highest level since the opening of the Lu Hong Kong Link, indicating that international investors have increased confidence in the Chinese stock market. At the same time, many small-cap stocks rose sharply last week, which may reflect the expectation of domestic investors that the post-holiday market will continue to perform better. The agency recommends that during the May Day period, the overall shareholding will remain dominant.
More than half of the private equity companies are optimistic about the May market.
From the market outlook point of view, the overall private equity respondents believe that the performance of the A-share market in May is worth looking forward to.
For the market performance after the May Day holiday, the survey results of the private placement network show that 51.06% of the private placements are optimistic, believing that the policy effect of the landing of the quarterly report is gradually emerging, and is optimistic about the post-holiday A-share market; 36.17% of the private placements are neutral to the post-holiday market and believe that the market may continue to fluctuate; only 12.77% of the private placements are cautious about the market performance after May Day.
Data source: private placement network
Xia Fengguang said that from a technical point of view, among the main broad-based indices, the Shanghai 50, Shanghai and Shenzhen 300 and Shanghai Composite Index have all reached new highs since the Spring Festival in recent trading days, showing the characteristics of platform breakthroughs. As a result, Xia Fengguang said that the target of the middle line of the market can be higher, and the agency will remain positive in its operational strategy.
Xingshi Investment said that in April, the overall market was strong and volatile, and under the background that the main line was relatively unknown, the stock market was greatly affected by the announcement of the performance of listed companies, and the market was relatively fully adjusted at the structural level, accumulating potential energy for follow-up market performance. With the end of the financial results and the policy guidance for capital markets to focus on the investment side, market sentiment may gradually pick up. In addition, recently, a number of foreign institutions have raised their forecasts for China's economic growth in 2024, and there is still uncertainty about the superimposed overseas situation, and the subsequent increase in foreign holdings of Chinese assets may become an important incremental fund in the market. From the perspective of investment opportunities, with the rebound of market risk appetite, high-quality growth assets may appear premium.
Chen Chengjie analyzed that the introduction of the new "National Nine articles" has injected new vitality into the market. Relevant policy factors not only provide strong policy support for the future development of the market, but also enhance the confidence of investors and create good conditions for the long-term upward development of the market. At present, the market already has investment value, but also has relatively sufficient conditions to rise, and it remains optimistic about the performance of the post-holiday market.