Category: Money tips Release Date: 2005-12-26
The second quarter, we still adhere to "trend up" investment strategy, mainly based on lies: 1, systemic changes in the securities market value of the stock resulting from the revaluation effect is gradually emerging, as the share reform, the domestic stock price to follow the stock market, especially outside the Hong Kong stock market discount trading phenomenon is gradually changing to their own pricing, we feel that as a new the market, future trends will be "premium pricing" changes in direction.
2, accounting for the market 2 / 3 share of cyclical industries such as banking, automobile, steel and petrochemicals are lower than outside the mature market valuation levels, while non-cyclical industry, as domestic Eleventh Five-Year Plan of economic growth pattern change and the implementation of new rural construction, its future growth will also be a further manifestation of the intrinsic value so the market to continue up requirements.
3, macro-economic trends better than expected - especially in the first quarter GDP growth up to 10% or more, and the growth of the structure and quality better than last year.
4, RMB appreciation on the capital market to promote long-term effect will be lasting in nature.
5, the management of the details of refinancing arrangements, improve the regulatory system of listed companies as well as the overall layout of incremental funding, making market confidence is being restored.
The 5-point second quarter of the market is our main reason for optimism, but we also think that because a quarter of GDP, rapid growth, making the market began to worry that the country will be issued a new round of macro-control policies, thereby banking stocks and real estate stocks and related industries stocks an impact. So the market maintaining the upward trend in the process of running, there may be some volatility - but does not change the upward trend. Others, such as QDII and re-financing of floodgates and other factors, we believe that the improvement of the building as the market system and restore investor confidence, will not constitute a substantial negative impact on the market.
In the second quarter investment industry focus: 1, the currency appreciation of the value of real estate, as well as mergers and acquisitions business;
2, resources revaluation of non-ferrous (mainly zinc, gold);
3, the industry rebound of the machinery, aluminum and steel;
4, with independent intellectual property rights 3G, digital TV and the military; the current position of our structure has a strong growth potential:
Currently we position before the five sectors are colored, real estate, transportation, medicine, science and technology, the stock position in nearly 25% of the stock because the stock shifted to below 1300 points, has been in since being suspended, regardless of the position of existing varieties Instead, the suspension was due to stock all the varieties have a greater appreciation potential.
