Category: Money tips Release Date: 2006-02-24
Source: Beijing in the first place
1, Dashiyanpan: strong rise in
1, tomorrow forecast: strong gains. Shanghai and Shenzhen exchanges opened higher Monday high go significantly higher. Among them, brokerage, nonferrous metals, machinery and low-priced stocks such as plate and the prominent trend in the disk, extremely well. Subject to Chongqing, Chengdu, set up a "new special economic zones" news, Chengdu and Chongqing related to listed companies, have in the intraday daily limit. We believe that the accumulation of hot spots in the market and to restore market confidence once again circumstances, the two cities is expected to broader market continued to rise strongly.
2, â‘?index fluctuation range: 3935 points - 4080 points;
â‘?operating mode: high-opened high walk up shock;
â‘?trend focus: Focus on news of changes may impact on the market; attention to market trend after the break 4000-point movements.
3, in the short-term trends: shock rise. At present, with market sentiment and confidence restored, the market long on money and do more enthusiastic and gradually expanding, fearing the management policy of the current stock market regulation, it may have been long suppressed power of the main factors. However, China's macroeconomic performance continues to improve and listed companies, expected growth, will continue to promote China's securities market in the form of in-depth Manniu advance.
Second, put warrants are expected to stimulate the hot explosion.
Monday, Shanghai and Shenzhen opened higher high away, a strong rise. Among them, brokerage, nonferrous metals, machinery and low-cost and many other plates in the disk turns up, the trend highlighted. In fact, the western city of Chongqing and Chengdu, as ushered in the "new special economic zones" opportunities for development. Some in the two places listed companies will also benefit. From Handicap view, Yu Sanxia, Chongqing, Kowloon and Hong Kong such as Chengdu and Chongqing, Sichuan Road & Bridge shares went limit up, augured well for the market the accumulation of hot spots, will lead Quotes higher again.
However, it is worth our attention is that both the market index rose, or the relevant underlying shares rise, the recent put warrants in the "peak" at home. From Monday to see the situation warrants market gains, China Merchants Bank CMP1, CIMC ZYP1, Valin JTP1, Wu Liang YGP1 and potassium JTP1 other five put warrants, respectively, up 106.12%, 52.37%, 33.11%, 30.63% and 9.93%, etc. this non-rational skyrocketing, once again from the interpretation of the warrant market, the basic situation of the nature of speculative frenzy. Of course, there is reasonable. Some market participants that led to put warrants such a crazy, one second dip, the expected broad market presence; second is put warrants the absolute low price, T +0 trading patterns are not subject to the impact of stamp duty increase, prompting speculative hedge funds pulled a lot to speculation. Among them, China Merchants Bank CMP1 interpretation of two consecutive days, or even quadrupling of the wealth effect.
After a statistical analysis of last week's warrants market, authoritative research reports that the premium rate from the point of view, warrants the premium rate significantly increased from 4.26% last week, rose to 6.55%, put warrants, the average premium rate increase , fell to 81.42 percent from 77.82 percent. Premium rate has dropped most of potash JTP1, Sinochem CWB1 and Wu Liang YGC1, rise up for the Steel and Vanadium GFC1, Valin JTP1, and Wu Liang YGC1. Premium is currently the highest rate of three warrants remain Wu Liang YGP1, CIMC ZYP1 and China Merchants Bank CMP1, the lowest premium for the Wu Liang YGC1, Qiao Cheng HQC1 and Erie CWB1
We believe that the benefits and risks are significant symmetrical, many ordinary investors, only to see one day be able to double the warrants, ignoring the warrant will be reverted to zero-day nature. Therefore, the proposed ordinary investors some of the warrants market, with zero intrinsic value of put warrants varieties, is best to keep cautious. In fact, investors may choose to discount the state of a number of warrants in the conduct of investment, speculation tilapia operations. At present there are four warrants at a discount status: They are Wu Liang YGC1, Qiao Cheng HQC1, Erie CWB1 and steel vanadium GFC1 so. At present, Cheng, Yu-concept stocks Quotes have been kicked off the stage, have become, Chongqing and the concept of warrants, extremely vulnerable to large financial favor, short-term deposits explosive big opportunity.
In addition, the potash JTP1 will be delisted June 25, the current price is still as high as 4.980 yuan, in the remaining trading days, its value will gradually return to complete. Of course, does not exclude the situation in potash JTP1 a sharp drop to complete the return, assuming that the establishment is bound to affect the whole put plates trend. Thus, the present continues to put warrants the risk of speculation has been high, put warrants the speculation is likely nearing an end.
