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北向资金单日净买入贵州茅台金额创历史新高。
“五一”假期首个交易日，A股迎来“开门红”。沪深京三市成交额11074亿元，超4500只个股上涨，北向资金净流入93fortunecoinbonus.16亿元。
盘后数据显示，北向资金当日净买入贵州茅台30.61亿元，单日净买入贵州茅台的金额创历史新高。贵州茅台收盘涨超3%，成交额放量至百亿元，总市值达2.2万亿元。贵州茅台收盘价为1760.2元，创年内新高，年内累计涨幅接近2%。
以贵州茅台为首的核心资产持续反弹，上证指数继续刷新年内新高，累计涨幅超5%。与A股交相呼应，港股市场延续强势，恒生指数收获“十连阳”。
北向资金爆买茅台
5月6日，A股“股王”贵州茅台上涨3.24%，成交额放量至100亿元，为近7个月来首次。
从贵州茅台消息面来看，4月29日晚间，贵州茅台发布人事变动公告，根据贵州省人民政府相关文件，推荐张德芹为贵州茅台董事、董事长人选。作为贵州茅台新任“掌门”，现任习酒股份董事长的张德芹出自茅台，被认为是资深酒业专家。贵州茅台“换帅”被认为有助于保障公司高质量发展。目前，张德芹已正式履新，接棒茅台。
此外，贵州茅台还公布fortunecoinbonus了持续增长的一季报。贵州茅台2024年一季报显示，公司实现营业总收入464.85亿元，同比增长18.04%，实现净利润240.65亿元，同比增长15.73%。
不过，业内人士普遍认为，贵州茅台近期基本面以及人事变动并不足以抬升公司股价。贵州茅台近期股价反弹更多是来自于情绪面以及资金面的推动。
北向资金流向来看，当日北向资金净买入A股93.16亿元，其中贵州茅台获净买入30.61亿元。北向资金单日净买入贵州茅台的金额创历史新高。
贵州茅台还是当日主力资金最青睐公司，单日获主力资金净流入超9亿元。
贵州茅台单日大涨，年内表现再次翻红，累计上涨1.98%。这意味着A股市值排名前20的公司年内表现全部实现上涨。
5月6日，主力资金持续流入A股大盘股。除贵州茅台外，药明康德、中国平安、五粮液主力流入净额超2亿元，立讯精密、比亚迪、工业富联主力流入净额超1亿元。
A股投资风格切换至大盘的趋势再次得到强化。具体来看，万得超大盘股指数年内累计涨幅达到14.81%，表现远好于中盘股指数和小盘股指数，两者今年分别上涨2.45%和下跌4.19%。
核心资产成外资流入聚焦方向
A股核心资产与大盘股多有重叠。近期以贵州茅台为首的A股核心资产以及港股持续反弹，被认为是外资回流所推动。
兴业证券表示，近期北向资金主要加仓银行、有色金属、电力设备和食品饮料等板块。个股层面，加仓也集中在宁德时代、招商银行、迈瑞医疗、立讯精密等龙头白马。
核心资产是外资聚焦A股的重要方向。今年以来，随着海外资本市场纷纷回调，大量外资重新买入A股。Wind数据显示，今年以来，北向资金合计净流入A股835.6亿元。
以贵州茅台为例，今年以来，香港中央结算公司新增持股超过300万股，显示有一部分资金持续进驻。知名外资资本集团旗下旗舰基金欧洲太平洋成长基金曾是全球持有贵州茅台股份数最多的基金产品，其一季度增持贵州茅台38.69万股。
Wind数据显示，宁德时代、五粮液、招商银行、贵州茅台、美的集团、兴业银行、中国平安今年以来均获北向资金净买入超40亿元。
“外资入场，将与国内各类机构形成共振，核心资产‘集结号’已经吹响。”兴业证券分析，龙头风格将成为今年超额收益的重要源头。随着核心资产统一战线重塑，“核心资产主线回归”的判断也愈加清晰明朗。
外资机构在真金白银买入中国资产的同时也在积极唱多中国资产。一季度经济数据公布后，高盛、摩根士丹利、德意志银行等多家国际金融机构纷纷上调了今年中国经济的增长预期。高盛表示继续超配A股，并判断在政策推动的乐观情境下，A股估值有上升20%―40%的潜力。知名外资大行瑞银上调MSCI中国指数的评级至“超配”。
经过两个多月的反复震荡，在五一小长假之前，上证指数成功突破3100点整数关口，形成上行趋势，第二波上攻行情愈演愈烈。前海开源首席经济学家杨德龙认为，从全球资本配置的角度来看，欧美日股市场均处于历史顶部的位置，估值高高在上。而A股和港股则是全球估值洼地，所以一部分资本从欧美日市场获利了结，流入到A股和港股也在情理之中。
影响基本面积极因素在增多
情绪面与资金面的修复对行情的驱动只是暂时的，资本市场持续反弹的主要动力还是依托基本面的支撑。
过去三年A股和港股出现持续下跌，很多优质资产只有高点价格的三、四折或四、五折，杨德龙认为当前无论A股还是港股，均处于历史底部区域，代表性指数估值非常低，具有较大吸引力，这也为投资者入市带来了比较好的布局时机。
“市场中长期仍具备上行空间。”鹏华基金权益投资一部副总经理袁航认为，市场估值目前处于历史偏低位置，相对于其他大类资产而言，股票具备性价比，而低估值的利好效应，将在较长时间维度内持续释放。上市公司基本面则会受到政策、竞争力、创新以及海外市场的综合影响，总体而言，2024年影响基本面的积极因素会增多。
In addition, a number of policies will enter the landing period in the future, and the follow-up government will do everything possible to ensure that the economic targets for the whole year are achieved. Compared with overseas stock markets, Mr Yuan said valuations of Chinese equity assets were more attractive. The decline in US bond yields and the narrowing of risk-free spreads between China and the US will also have an impact on the exchange rate of the renminbi and capital flows in the stock market.
From a comprehensive point of view of various factors, Cathay Pacific Fund is expected to basically end the short-term volatility of the market with the help of internal and external positive factors, and the market will regain its strength. Short-term bullish growth stocks rebound, including AI and core asset leaders. AI is optimistic about overseas industries and domestic policy catalysis, while the recent transaction congestion has been low. The core asset leader is the logic of being long Chinese assets Beta at a low level. In addition, long-term attention to the export of selected stocks.
Huaan Securities said that the overall tone of the political Bureau meeting of the CPC Central Committee exceeded expectations, the overall tone of overseas FOMC meetings was dove, the market β opportunity was coming, and the allocation of hot spots was expected to present a splendid and lively scene. Looking forward to the idea of future allocation, with the advent of market systematic opportunities, various industries are expected to usher in a general rising pattern, but from an excess point of view, it is suggested to select highly elastic growth plates and hard fundamentals supported by booming performance.
Soochow Securities said that global manufacturing replenishment will be one of the most important transaction logic for at least two quarters in the future. China's offshore / export chain enterprises are expected to benefit from the recovery of overseas manufacturing demand and enter a double-click upward cycle of profitability and valuation; at the same time, the new "National Nine articles" will affect the medium-and long-term pattern of some industries and improve the profitability of China's "new three" and other high-quality manufacturing industries.
Responsible editor: tactical constancy
Proofreading: Wang Wei
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