Category: Money tips Release Date: 2007-05-20
Because a large number of hot money will speed back to the stock market, so in 2006 will enter the A shares rise cycle. This is a Ping An Securities in its latest investment strategy introduced in 2006 the main points outlined in the report.
The stock market index rising cycle Ping An Securities pointed out that although in 2006 the macroeconomic growth and performance of listed companies may decline, but this does not change the internal market is the formation of an upward trend.
First, a valuation of A shares has been in a bear market at the end of the general level of stock levels and international standards. Shanghai and Shenzhen 300 constituent stocks of the current average price-earnings ratio has dropped to about 11 times, far lower than the international price-earnings ratio of 15 times a mature market with a long-term central and close to the general bear market end of the price-earnings ratio of about 10 times the level of. Second, a large number of hot money will accelerate the return to the stock market. With the upward trend in the stock market becomes clearer, there will be more funds from the current high rate of return is not high and the real estate market, withdraw, the future is expected to replace the real estate market as hot money the main investment objectives. Third, technically, the current rise in A shares has entered the cycle. Now the broader market consolidation process will be around the end of the Spring Festival in 2006, after which will start a new round of upside market, and Quotes duration and the final height will depend on the future of our country's economic policies and macroeconomic fundamentals.
Policy shift moderately radical Ping An Securities that the 2003 beginning of year - in May 2004 during the period of the stock market is a typical performance-driven part of the value of return to nature, the value of individual stocks have been fully excavated, but the next two years, the overall performance of listed companies will decline Therefore, the pure performance in the next year or two is hardly a mainstream hot spots and Quotes of the main driving force.
However, Ping An Securities also said that, along with Quotes into the rally, the market opportunities will become increasingly more conservative investment strategy should be shifted from a radical moderate. And should be from a variety of angles, using different approaches to assess the company's intrinsic value, rather than just the traditional valuation methods. Meanwhile, the market opportunity in 2006 will be partial, such opportunities are mainly concentrated in the past is not of concern for the market segmentation industry and unfamiliar industries and small-company stocks, especially in 2001, the market entered a bear market since the stock market, due to Listed after the encounter bad market environment, the value of easily overlooked by the market.
M &
A is the core theme of Ping An Securities pointed out that since A shares "emerging and transitional" characteristics, performance of listed companies is very unstable and can be maintained long-term performance of the company little good; on the contrary, when the poor performance of the company, or general, as the industry cycle, the national policy adjustments , M & A and other reasons, its performance in the future may be given a large degree of improvement. Thus, the mainstream market in 2006 will be the theme of speculation, M & A restructuring, replacement value and industrial policies, market three major themes, merger and reorganization is the core.
Ping An Securities believes that the recent management of a range of policies aimed at improving the quality of listed companies, these developments indicate a new state-owned holding asset restructuring of listed companies is about to begin, we recommend special attention to the major shareholder strength, and the current poor performance of the company, stock oversold stocks. In fact, the market remained in the doldrums in recent years, many individual stocks prices have been far below its net asset per share, considering the replacement value of the company and brand, network and other intangible assets, the value of many companies has been seriously underestimated, which is industry consolidation the best time.
Hot Articles depth analysis of
the latest articles: 2006 trend, industry, opportunities, stocks Exclusive Published: 2006 effects of the most rich-quick investment warrants the authority of the major brokerages in 2006 the disclosure of investment Gonglue essence a daily report of actual Nuggets * large institutions: Strengths 100 Strong Daily real Nuggets report
* 2006 the steel industry investment strategy for a daily run-off Gonglue -12 on 20 Report of the daily combat Nuggets large organizations: Strengths 100 Strong investment in Germany in late Ding完全攻略(6)
* De-ting the end of investment完全攻略(5)
