Category: Money Tips Date: 2006-12-10
Source: Xu Bin Guotai Junan
Shanghai and Shenzhen indices stabilized stabilized Thursday, the Shanghai Composite recovered 4,200-point mark, but the two cities has given rise to a certain degree of volume contraction. At present, due to the high point of 4300 points, still there is a big psychological pressure, and the volume can not be effectively larger cities, the index short-term impact of all-time high of 4300 points, and even more difficult, vibration, or poised to become a better immediate market choice.
Psychological pressure on warming
Combination of the movement this week, benchmark Shanghai Composite Index as well as the disk situation, the current market is larger under psychological pressure, and that psychological stress does not come from one-sided, but many together as. First, it should expect pressure from the policy side, that is raising interest rates and other monetary policy expectations put psychological pressure. The central bank's recent survey data show that residents consider the purchase of stocks and funds into the most cost-effective ratio of ultra-four the first time, exceed the savings deposits into the residents preferred, then he said it reflects the current stock market attractive for investors, but it also increases interest rates and other monetary policy introduced to provide space. Questionnaire survey of bankers, the bankers for the next quarter, rising interest rates is expected to strongly expected that the next quarter, tighter monetary policy, the proportion rose to 43.5%, joint-stock commercial banks and city commercial banks to monetary policy, tight feeling strong. As for the entrepreneurs, expected next quarter, loan interest rates "high" of entrepreneurs accounted for 26.8% over the quarter increased 1.0 percentage points from the actual judgments. The sound of repeated interest rate increases to the market upside cleansing not cause any stress. Followed by technical pressures, 4300 points or more as a May 30 high of a major adjustment before there was a major psychological stress, such psychological stress manifested as investors worried that once again, after refreshing all-time high, such as stamp duty and other direct role in the market increases policy may be re-introduced, which can be dropped from the index shot up Wednesday seen. Finally, the psychological pressure from the QDII, the SFC has expanded the scope of QDII pilot, QDII will gradually become the capital to avoid investment risks, expand investment channels for variety. Although the pilot QDII expansion of the scope of the domestic A-share market will not be short-term capital face greater pressure to form, but its impact will be reflected in the psychological level.
Know what the positive factors
Indeed, there is the psychological pressure of the market can not be ignored, but we should also see that the market is not completely negative factors, some positive factors still is noteworthy. Wednesday, the nation's largest oil and gas producer PetroChina Company Limited in Hong Kong, China announced plans to issue 4 billion shares of the Shanghai Stock Exchange A share. PetroChina is the second A shares of China Construction Bank announced last week after the release of another one declared that "returnees" H-share companies. It is reported that China Shenhua and China Telecom will also issue A shares next. The completion of the above-mentioned four companies issued A shares, after the return of red-chip companies will start after the liberalization of foreign-owned companies will likely A-share listed. You can see, A-share market has experienced a transformation of systems of share reform, after being shown a strong attraction, more and more high-quality blue-chip return to set foot on the road, it should be said that this is an A-share market as a growth sure, right A-share market optimistic about the future of sustainable development.
In addition to the accelerated return of blue chips to stabilize the market, but also conducive to high-quality blue-chip investors to share the returnees performance growth, bring real benefits to investors. For example, China's oil profits as high as 142 billion yuan last year, higher than the 136.3 billion yuan over the same period China's Sinopec, more importantly, is that in dividend policy, China's oil has always insisted on 45% of net profit for dividend payments, which undoubtedly gave the investors enough confidence of investors. In addition, A-share market so far, is still an emerging market, in order to become a mature capital market to play a role in the economic barometer, it is necessary to accommodate more high-quality large-scale enterprises, and as the future introduction of stock index futures, A shares blue-chip market, the role and status will become more obvious, the demand for blue chips will continue to increase, therefore, blue chips as returnees to the development of the market played a positive role in promoting. In addition, access in June, the mid-year report by the pre-listed companies increased, the mid-year report is to implement the new accounting criteria, the first mid-year report, the growth performance of listed companies will be more obvious, which also will support the markets. Operation, the proposed mid-year report is expected to grow concerned about the species, such as the Shoka shares (000,584), benefiting spandex prices continue to rise, medium-term performance growth 2000%. For the sale of the new company's main textile and packaging materials, such as business, under the Sichuan Hengchuang driver Fiber Co., Ltd. is the largest covering yarn manufacturers, the leading edge highlight. Company's largest shareholder through private placement, raising funds for the acquisition of Jiangyin, Jiangsu Shuangliang science and technology held by the Friends of the Bartlett kinds of Fiber Co., Ltd. 75% stake. Friends of the Bartlett kinds of fiber is put into production of the company's overall capacity of 10.3 thousand tons / year, the current project has been fully up to production, the future of its production capacity with higher growth expectations. The secondary market, the stock has declined with the broader market early showed a strong rebound in power, afternoon bargain-hunting can be properly recognized.
