BEIJING, May 10 (Xinhua) -- This round of A-share market midterm correction starting since mid February this year may have stepped into its ending period by far, reported Xinhua-run Xinhua Finance citing a research report of China International Capital Corporation (CICC) on Monday.
In spite of the likely volatilities in the short term, the CICC report predicted that China may attach more importance to discretion in adjustment of macroeconomic policies this year, likely to ease previous market worries on policy tightening especially when the policy makers' quarterly economic situation meeting conveyed relatively balanced policy signals.
In view of A-share listed firms' annual and quarterly financial results, partially high morale has been seen for the A-share market, which has currently entered a relatively plain period of range-bound correction, instead of the one-way downturn.
The CICC report thus suggested that investors shall not be too pessimistic about the mid- and long-term trend of A-share market and pay more attention to structural opportunities and stocks of growth type firms.
By industries, the report eyes pan-consumption areas including household industry, home appliance, automobile, hotel, tourism and healthcare, industries with high business morale such as sci-tech hardware including the semiconductor, up- and midstream part of the new energy vehicle industry and PV industry, and sectors closely linked with the macroeconomic cycle in China and presenting optimized structure and growth period quality such as the basic chemicals and raw materials sector. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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