Data:2009-12-12 2:34
Category: Money tips Release Date: 2006-01-22
Recently, Peng Chinese fund management company in the fourth quarter investment reports baked. Penghua Fund believes that the whole, the current rebound in business investment in the case of falling efficiency is unsustainable, particularly in the middle of a faster growth rate of current investment capital goods and raw materials industry in decline in efficiency will not be sustainable under the influence of future overcapacity will be the main risk; constrained world, especially the U.S. real estate bubble, driven by exports also face greater uncertainty; consumption growth has a relatively high growth rate on.
Penghua Fund believes that with the right prices are expected to gradually stabilize the fourth quarter of the price of noise will gradually subside, the value of return inevitable. The configuration of the market will focus on "clear" value and "fuzzy" and started to grow in two directions: a clear focus on a stable value asset classes, in the overall economy is still slowing down the configuration value is obvious, after the third quarter by who has also improved the relative attractiveness of the future; and opportunities for growth in 2003 no longer rely on investment-driven industries have a clear context and high visibility of earnings growth, at present the opportunity to grow more of a combination of policy changes and market preferences of the Results.
Peng Hua Foundation, said some stability to the fourth quarter of asset classes to benefit from the certainty of value greatly increased the company value judgments of this kind is relatively clear, for the most likely value is converted to revenue; new economic policies and government-led investment to the relevant industry sector with the growth potential in the growing scarcity of the theme will be the market under full attention, such as new energy saving, environmental protection, railways, power grid construction, as well as 3G, digital TV and so on. The same time, fiscal policy change and innovation support policies on the valuation will also have a major impact; the economy turns for the better or to maintain the business opportunity. For example the manufacturing sector in the meat products, dairy, electrical equipment, wine, service in the business, as well as the downstream manufacturing industries in the upstream raw material prices fell under margin improvement opportunities; based on the controlling shareholders and minority shareholders on the valuation of the different perspectives , in the stock has changed after the well-off assets and management efficiency there is room for improvement or have strategic value to the discovery of the market will become an important theme; based on the current valuation of share reform process and the re-financing a restoration of pressures and opportunities of the judge, timely response is required in advance.
