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Review: the world’s four largest stock market asset loss of more than 30 trillion The most resistant A shares to come

Recently, the global capital markets have all fallen, there are a number of A-shares trend is strong, these stocks have what characteristics?

More than 60% of A-shares fell below the annual line

Since March, the Shanghai Stock Exchange Index fell 4.41% and the Shenzhen Stock Exchange Index fell 7.49%. The GEM index monthly line four consecutive negative, the SZSE into the index monthly line three consecutive negative.

Securities Times-Databao statistics, A shares a total of 2,844 shares fell below the annual line, accounting for 60.14 %, the number of shares fell below the annual line on March 9 up to 3055, accounting for nearly 65% of the total number of A shares, the ratio hit a new high since August 2021.

The world’s four largest stock markets lost more than 30 trillion in assets

Since March, in addition to Australia’s S&P 200 index, the United States, India, Brazil, the United Kingdom, Europe, China and other countries (regions) 14 important indexes all fell, including Russia’s RTS index fell nearly 35%, Hang Seng Index, Nasdaq, Germany’s DAX index fell by more than 5%. According to incomplete statistics, the U.S. stock market, the U.K. stock market, Hong Kong, China, A shares market value of the four important global stock market assets evaporated more than 30 trillion yuan, including the loss of U.S. stocks amounted to nearly 20 trillion yuan.

71 anti-decline A shares out

Each time the market fell, A shares always have a number of resistance stocks, repeatedly beat the market. Data treasure statistics, the last six times (five times from 2019 to 2021) and the most recent selloff, July 31, 2019 to August 6, the Shanghai Stock Exchange Index fell 5.92%; March 16 to 20, 2020, the Shanghai Stock Exchange Index fell 4.91%, July 14 to 16 fell 6.66%; March 8 to 10, 2021, the Shanghai Stock Exchange Index fell 4.12%. From July 23 to 27 of the same year, the SSE fell by 5.41%; since March 2022, the SSE has fallen by 4.41%.

Among them, there are 71 shares in the above 6 times when the market plunge are beating the SSE index (hereinafter referred to as “anti-fall stocks”), since March, 71 shares rose 2.04% on average, 39 shares rose against the trend, quasi-oil shares, Haohua Energy, Lu’an ring energy and other 7 shares rose more than 10%. The last 3 times when the market plunged, are against the market rose stocks have and only 2 Nanning Sugar, Southwind shares.
From the perspective of industry distribution, 71 resistant stocks are piled up in utilities, banking, media and other industries. The utility index has fallen less than the SSE index during the previous plunge, and the index fell less than 2% in March this year, with the resilient stocks slightly outperforming the former.

Resilient stocks have lower valuations

What are the characteristics of resilient stocks? How to capture such stocks in a shaky market, from their own characteristics, financial fundamentals and so on many aspects to analyze these companies.

From the valuation point of view, the previous trading day of the six market plunges as the reference point, respectively, to calculate the median P/E ratio of resistant stocks and the rest of the shares (excluding negative numbers) found that the P/E ratio of resistant stocks is generally lower than the rest of the shares, the former median P/E ratio are less than 20 times, the latter between 30 times and 40 times.

At the end of February this year, the median P/E ratio of resilient stocks was close to 20 times, with banking stocks and media stocks mostly below 10 times, 19 stocks with P/E ratios over 30 times, and Tianmao Group and CNNC Technology below 50 times.

Large-cap stocks are more resistant to falls

From the point of view of market value, to the latest closing day data statistics, the average market value of resilient stocks more than 100 billion, the average value of the remaining shares less than 20 billion. 5 billion below, 10 billion to 50 billion of these two shares accounted for basically equal, of which less than 5 billion shares accounted for about 40%, 10 billion to 50 billion shares accounted for about 25%. But more than 50 billion market capitalization stock number distribution gap is large, of which the resilient shares accounted for 16.9%, the rest of the shares less than 6%.

100 billion market value of the resilient stocks are China National Petroleum, Yangtze River Power, Daqin Railway and other 13 shares, Industrial and Commercial Bank, Construction Bank and Agricultural Bank and other three trillion market value shares are also included.

Resistant stocks are generally active

Data treasure statistics, 82 resilient stocks in the above six time periods, the average daily turnover rate (median) are lower than the rest of the stocks, most of the time less than half of the average daily turnover rate of its remaining shares. For example, from July 23 to 27, 2021, the median average daily turnover rate of resilient stocks was 1.17%, while the remaining stocks were as high as 3.22%. in March 2022, the median average daily turnover rate of resilient stocks was around 2%, while the remaining stocks were close to 3%.

Northbound funds since March to add 8 resistant stocks

Stock price performance resistance, in addition to the above three aspects, performance is also less key factors. Data treasure statistics, anti-downturn stocks 2021 three quarterly report attributable to net profit growth shares accounted for more than 40%, deducted net profit year-on-year growth shares accounted for nearly 65%, deducted net profit doubled shares accounted for more than two percent, including Jiuhua Tourism, Shanghai Film, three room alley.

It is worth mentioning that the above six plunges are concentrated in mid-to-late March and mid-to-late July, the former is the annual report disclosure peak, the latter is the peak disclosure period.

As of March 11, only 8 shares in the anti-drop stocks since March to get northward capital to increase positions, China Nuclear Power, Daqin Railway, Yangtze River Power to increase positions of more than 0.2 percentage points, the latest valuation of 3 shares are less than 20 times; China Petroleum, Shanghai Electric Power to increase positions of 0.06 percentage points, of which China Petroleum 2021 three quarterly report deducted non-net profit growth of nearly 4 times.

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