中信建投陳果:市場關注近期成交低迷 短期還需等待進攻信號
中信建投陳果研報表示,市場關注近期成交低迷,2012與2018年的下半年都有兩輪典型成交縮量,值得注意最終都是緩跌急升。從市場特徵看,我們認為今年的成交低量背景相對更類似於2012年。另外過去兩年A股經驗也顯示,一旦出現上升行情,往往迅速。雖然短期內需數據仍弱,但近期對市場影響已不明顯,顯示預期也已顯著下修。我們認為,短期還需等待進攻信號,投資者可考慮先守住穩定紅利為主的勝率資產,再逢低佈局受益擴內需政策的方向與成長性行業等賠率資產。重點關注:電力、電信運營商、國有大行、汽車、軍工、家電、醫藥、互聯網等。
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