Golden Jiuyin Ten, the real estate chain leads the rise

On Friday (September 9), the red disk was ended before the A -share Festival, and the heavy stocks such as finance and consumption recovered the heavy stocks. The Shanghai Stock Exchange Index closed up 0.82%at 3262.05 points, and the Shenzhen Stock Exchange Index rose 1.11%to 11877.79 points, the GEM index rose 1%at 2548.22 points, the science and technology 50 index fell 0.67%to 10.3378 points, and the full A rose 0.73%. Wan De Shuangchuang rose 0.06%. The market turnover is 779.81 billion yuan.

In the early days of the north, the funds increased significantly over 11 billion yuan. The inflow rate in the afternoon slowed down but still showed a unilateral entry. The net purchase in the day reached 14.753 billion yuan, and the single -day net purchase amount hit a new high within the year, and ended the net sales for 6 consecutive days. This week, the northbound funds turned the tide at the last trading, and sold a total of 220 million yuan in a total of 220 million yuan.

Source: Wind

Relevant departments released social financing data in August 2022 on September 9, and M2 increased by 12.2%year-on-year. Previously, the market expected social merging loan to increase by 10%-15%year-on-year, and the data met expectations. In August, RMB loans increased by 1.25 trillion yuan, a year -on -year increase of 39 billion yuan. With the acceleration of growth funds and the gradual emergence of demand support, etc., it effectively drives social integration and stability.

On September 9th, relevant departments released data from the National CPI (Residents' Consumption Price Index) and PPI (industrial producer factory price index) data in August 2022. The National PPI declined slightly from the previous month, and the year -on -year increase continued to fall. Part of the cost pressure of middle and lower reaches.

In addition to the year -on -year increase in PPI, in addition to the impact of the comparison base of the same period last year, it is also mainly affected by three factors: First, the price of commodities such as international crude oil, non -ferrous metals, etc. The effect of increasing production in coal and other industries has continued to appear, and the market supply guarantee is strong. Third, due to multiple factors, the demand for steel and other industries is weak.

The CITIC Harvest team pointed out that from the data point of view, some signals that have improved in August have appeared, and the economic trend of the second half of the year should not be overly pessimistic. Looking back, the two major policy conditions support the Chinese economy: First, the domestic economic pressure is relatively small, and the space policy space is still existing; the other is that the policy and financial space is large to make up for the financial gap.

On September 9th, affected by the information on the demand for building materials on the infrastructure side, the building materials ETF (159745) rose in the afternoon, and gradually rose during the market, and finally closed up 3.81%.

Source: Wind

In the perspective of policy, the relevant meeting proposed to increase the amount of policy development financial instruments of more than 300 billion yuan. At the same time, it was required to use more than 500 billion yuan in special debt deposit limits in accordance with the law. This is an important measure to expand effective investment in the current situation. As the news, the rumors of related meetings have determined that more than 500 billion yuan of special debt limits that have been deposited in accordance with the law in accordance with the law.

Source: Guoxin Securities

Under the promotion of stable economic growth policies and measures this year, from January to July, the national broad infrastructure investment increased by 9.58%year-on-year, and it continued to increase by 0.33pct from the first half of the year, of which 11.47%year-on-year in July. At the current stage, my country's economic recovery foundation is not solid. Recently, the policy guidelines such as promoting project construction and expanding investment are still actively introduced to guide projects and funds to land. The transformation of physical workload in the second half of the year is expected to accelerate and further support the recovery of infrastructure investment. In the context of stable economic growth, infrastructure investment is higher than that of real estate investment. If the heating of infrastructure investment is clear, the overall order of the building materials industry will be guaranteed to be greater, and it will be more helpful to boost confidence in the building materials industry.

As one of the important downstream industries in the building materials industry, the real estate industry is still at the bottom stage, and the downward trend has slowed down. Benefiting from many places in many places across the country, the implementation of peaks in August and good implementation, the industry's operation has been boosted to support the rise of cement prices. At present, industry collaboration is still continuing. The unfavorable factors such as weather and public health incidents have gradually weakened. It is expected that cement prices are expected to continue to rise slightly. Recently, there are also rumors that some cities' real estate purchase restriction policies may have signs of loosening. If the policy's stimulus on the real estate market has been further increased, the status quo of real estate companies can be further improved.

Building Materials ETF (159745) target indexes in the medium syndrome refer to the building material index, which is at this stage at a history of 24.04%. The heavy warehouse stocks of the target index include high -quality head enterprises, such as conch cement, oriental rainbow. With the recent hot track investment enthusiasm, it has become rational. For example, the initial stock price adjustment in the building materials industry has been adjusted deeper, and it has fallen out of the cost -effective traditional track target or more investment value. The current absolute position is relatively low. Although it is difficult to judge whether the inflection point has arrived, at this time, the configuration value of the entire real estate industry chain is still very high. Is the building materials expected to be upward? "

On September 9th, the medical theme related ETFs have a good rise. On September 9th, the increase in medical ETF (159828) once increased by more than 2.3%, and the high level fluctuated within the day, and finally closed up 2.64%. Thanks to the disclosure of the interim reporting performance in 2022, there are many highlights in the field of innovative drugs. A variety of products ushered in commercialization. Innovative pharmaceutical Shanghai -Hong Kong -Shenzhen ETF (517110) closed up 2.30%. The newly listed vaccine ETF (159643), thanks to the continuous volume of HPV vaccines and pneumonia vaccines in the near future, obtained 1.49%increase. Source: Wind

On September 8, the relevant departments issued a special notice on the treatment of dental implants medical services and consumables for dental implants. At present, 7 batches of centralized procurement of drugs in national organizations have been carried out, covering a total of 294 kinds of medicines. According to the pre -mining price, the amount involved accounts for 35%of the annual procurement of chemicals and biopharmaceuticals in public medical institutions, and the average price reduction is about 50%. Recently, more new drugs have been incorporated, such as the first -line targeted Delonaliniby of liver cancer in the patent period is incorporated into the collection. With the landing on the ground, there is a planning market with a planned collection but not yet landing. Policy -staged bottom formation. On September 9th, the medical service sector rebounded more, driving the medical ETF (159828) rebound.

The dental implants collection policy clearly proposes that the price of medical services is separated from the price of consumables, emphasizing the value of medical services, and bringing strong policy confidence to the medical service industry as a whole. With the acceleration of the aging process of my country's population, the domestic market stock will continue to be released. After the dental implants are standardized, the market penetration rate is expected to increase rapidly, and the remaining dental departments are used to make a synchronous amount. scale.

Recently, the medical sector market has continued to decline. The current valuation level has once again returned to the minimum point of history. The main line of innovative drugs has gone from the first round of innovation theme market to now to fulfill the inflection point. The current individual stocks are very cost -effective, and the opportunities for strategic allocation are gradually highlighted. Interested investors may wish to seize the chance of being underestimated by the medical sector by fixed investment. You can pay attention to medical ETF (159828), biomedical ETF (512290), Innovation Pharmaceutical CSI ETF (517110), and Vaccine ETF (159643). (For details, see "Medicine: short -term cautious and optimistic, long -term bottom upward", "Liang Xing: Why is the vaccine" a "bottom, upper and up -to -date" industry? ")

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