Hot news of the week

The non-farm data of the United States in April fell sharply short of expectations, adding only 266000, and the unemployment rate was 6.1%.

Non-farm payrolls in the United States increased by 266000 in April, compared with an estimated increase of 1 million, compared with a previous increase of 916000. The unemployment rate in the United States was 6.1% in April, compared with an estimated 5.8%, compared with a previous figure of 6%. Us manufacturing jobs fell by 18000 in April and are expected to increase by 55000. The United States added 48000 government jobs in April.

Us Treasury Secretary Yellen: skeptical that the United States will enter the inflation cycle, recovery is a long process

U.S. Treasury Secretary Yellen said at a news conference Friday afternoon that stimulus measures will continue to boost consumer spending and wage growth has not accelerated significantly. The non-farm payrolls report will be revised on a monthly basis, and the monthly data should not be regarded as a potential trend at all. If unemployment benefits really hamper recruitment, then the job application rate should be reduced. Referring to the reasons for the weakness of non-farm workers in April, Yellen said the shortage of chips and record cork prices hurt the April non-farm payrolls report. Ms Yellen is sceptical that the US will enter an inflation cycle.

In response to media questions on May 7, the China Securities Regulatory Commission (CSRC) said in response to media questions that "mainland regulators are considering tightening regulations on companies listing in Hong Kong or overseas," a source familiar with the matter said. This is not true. Earlier, foreign news agencies reported that the plan being considered by the CSRC would require companies seeking initial public offerings (IPO) outside Chinese mainland to submit listing documents to ensure they comply with local laws and regulations.

COVID-19 's epidemic situation is serious, 240000 people in Japan call for the cancellation of the Tokyo Olympic Games

The epidemic situation of COVID-19 in Japan is still severe, with 6054 new confirmed cases on the 7th. This is the first time that more than 6000 new cases have been confirmed in a single day in Japan since January 16 this year. Under such circumstances, there are growing calls for the suspension of the Olympic Games. As of the early morning of the 8th, more than 240000 people had signed online, calling on the government to stop hosting the Olympic Games in consideration of public health issues.

Review of the market

The Dow and S & P rose strongly this week, while technology stocks dragged down the Nasdaq. Of this total, the S & P 500 (.SPX.US) $rose 1.23%; the Dow hit another record high, and the $Dow Jones (.DJI.US) $rose 2.67%; the NASDAQ composite index (.IXIC.US) $fell 1.51%.

Viewpoint of institutional allocation

UBS: consumer, healthcare and financial industries deserve long-term attention

UBS said the recent market correction provided a good opportunity to buy high-quality companies. The view on consumption and health care is still positive, the financial industry is healthier, and the giants are ahead of their peers, so it is worth investing in the long term.

The consumer industry should pay attention to the quality of market segments, such as high-end consumption. Even as population growth slows, demand will continue to tilt towards these companies. High-end spirits, for example, are still seeing shortages rather than oversupply. So this gives the market a lot of confidence that they will continue to do well.

Haitong said that from the perspective of the main line of investment, investors still think that they can pay attention to two types of opportunities: one is to focus on science and technology and the main line of consumption. In the medium and long term, China's economy is in the process of transformation and upgrading, and science and technology plus consumption is the direction of transformation, so the fundamentals of science and technology and consumption are stronger, while Hong Kong stocks have scarce assets such as the Internet and consumer services, which are attractive to domestic capital to a certain extent.

The second is to underestimate the growth opportunities of the industry. Among the companies listed at the same time in AH, the value sectors such as Hong Kong stock finance, real estate, cycle and so on have a large discount to A shares. These low valuation sectors may benefit from the global economic recovery, and AH spreads are expected to converge.

Anxin Securities Research News pointed out that there is no systemic risk in the current market, the market will continue to be in a volatile pattern, and the market will mainly focus on high economic clues. The core idea of the concussion city is not to catch up easily, but to be positive if there is a big adjustment. In the configuration ideas, should be around the high prosperity clues, varieties to the second-tier varieties and small track bibcock extension. In terms of specific direction, consider three main lines: (1) sustained high prosperity direction: electronics, medicine, machinery, chemical industry, Dianxin, light industry, etc.; (2) industries that benefit from epidemic repair, such as services; and (3) special emphasis on the direction of industrial digitization at the Politburo meeting: such as industrial Internet, artificial intelligence, cloud computing, and so on.

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