Category: Money tips Release Date: 2006-11-06
Moderator Xu Ocean
Guests States investment Tang Han-Bo Cheng
Beijing's first card
"Jin Cha" enhance confidence in the long Moderator: Before we knew it, the line has been six months, Hu Zhi Guaitou up, the current year he tried to wear the line, form "Jin Cha." In the history of this half-year online clothing line, "Jin Cha" total intensity is not accompanied by a small of the stock market. Features of this market will enhance the confidence of investors in the midline Quotes?
State Investment Tang Han-Bo Cheng: We believe that the poised shock, look for an opportunity will be a breakthrough in the near future the main features of the market. Reasoning from the laws of view, August 8, 1996, July 14, 1999, and March 24, 2004, "Jin Cha", the composite index, while continuing to move up, but then dropped finishing high shock and has become the market mainly. Although this times "Jin Cha" is the stock price revaluation reform policy and took place under the conditions, but down 1,300 points, a variety of factors constitute the psychological pressure of the market can not be ignored.
Secondly, although our investment target - the overall value of listed companies within a year has not fundamentally changed, but the stock is expected to change with the right domestic and foreign price comparison effect is to support the current round of Quotes of the main factors. Meanwhile, more than four years continued to adjust, so that the investors, eager to market, looking forward to Quotes. As long as stock reform and Bijiaxiaoying people wanted up power has not diminished, we can still confident on the market.
From the policy side of view, the attitude of management to support the stock market is clear. Opened the first day of Spring Festival, the management announced the credit trading scheme to encourage qualified capital market news is a good evidence. At the same time, actively and steadily push forward the split share structure reform, China's capital market is not only an important economic task of the current capital market is also a major political task. Although the financing and refinancing capital markets would face and revaluation pressure, it is expected that management will at the right time to introduce more favorable measures to maintain stock market stability and development.
Beijing's first card: learning from history and will undoubtedly strengthen the investors in the future Quotes of the expected half-year line formed between the line and cross of gold, no doubt will strengthen confidence in the market. In fact, we do not rule out Huzhi may Qiansan crossing the possibility of finishing, but has entered the spring Quotes offensive line and the half line Jin Cha year will also be expected to further strengthen the afternoon. From the mid-term point of view, to split share structure reform as a turning point, A-share market is entering a large-scale transformation of reality into, when the market after a large-scale transformation, A-share market will be a truly efficient market, the stock market the various functions will get into full play, win the big bull market can expect when. Multi-angle analysis showed that the development of afternoon Quotes is relatively optimistic. We expect the recent broad market may be near the finishing mark Qiansan repeated, but fully poised, the broad market trend will be to form an effective breakthrough.
The face of changing investment strategy Moderator: near Qiansan, gains were slowed down. In the disk, the early lead in the market of non-ferrous metals, precious metals and sugar stocks also appeared in the forefront of the drop table. On the contrary, a number of performance and stability of consumer stocks had a stable trend. Does this change is the market prompted the signal changes in investment strategy?
State Investment Tang Han-Bo Cheng: poised to shock, look for an opportunity breakthrough may be the main features of the recent market, but the investment strategy should go beyond defense to a positive change in sound. By December 6 last year, since the A share market performance statistics of various sectors can be found, mining, real estate, metal and nonmetal sectors which are doing the best they are average growth of 31.45%, 25.93% and 22.92%. Although the average growth of metal industry, not the highest A shares, but the industry there are 9 entered the Shanghai and Shenzhen A shares rise over the same period the top 20. At the same time, food and beverage industry in the sugar stocks are doing so well.
The continued strength of individual stocks in these sectors has its deep background. First international commodity futures prices and domestic resources for continuous short squeeze of higher prices expected for the same individual stocks provided the domestic imagination; two representatives on the fund for institutional investors in the "Five Golden Flowers" wither and fall, has been in the search for new "value" investment objectives. The non-ferrous metal plate as the representative of the resource stocks, because of its international and domestic prices of double bullish reasons, naturally became defensive investments from institutional investors into a breakthrough beyond the defense.
But there have been a whole non-ferrous metal plate adjustment and profit-taking trend, while the sugar stocks have also declined due to international prices of sugar suffered setback. At the same time, with the theme of integration and mergers and acquisitions and petrochemical companies, pharmaceutical stocks and weak compensatory growth stocks became highlights disk. Of course, we can not rule out non-ferrous metals and other types of stocks once again ascribed to the possibility, but because of the increase rate of the overall market and individual stocks have a larger cumulative gains, stock prices are likely to start at any time of structural adjustment, it is recommended that investors operating strategies can be considered From beyond the defensive strategy of change to the positive and moderate.
Beijing First Certificate: non-ferrous metal plate and adjust the sugar plate varieties on the one hand because those resources have emerged in the international prices of malignant short-term decline in the other hand, due to the accumulation of which made a huge floating profits, while the international market, non-ferrous metal prices shocks only further desire to activate the market sell-off. At the same time, deep Chiwan, Huaneng Power International stocks and consumer stocks such as the relative stability of investment strategy means that the market has undergone subtle changes. Operation of the market has changed from pre-attack strategy of active defense strategy into a relative, a number of pre-or higher stocks may become a target reduction of institutional funds, while the funds will seek new areas of investment, a number of relatively stable performance or growth is expected to fund the new stocks will be the concern of the direction.
Here, we suggest that investors focus on the following varieties: First, from the relatively stable performance point of view, we can focus a number of high-quality blue chips and stocks with strong dividend capacity, these stocks will be in the report there would be a relatively good performance of Quotes and iron and steel , electrolytic aluminum and other agencies believe the industry will recover equally concerned about the plates. Secondly, from the defense point of view, investors concerned about the agricultural and sideline products, and food and beverage industry, real estate industry, highway industry and business sectors. Third, from the expected growth in terms of future performance, investors may be concerned about the communications equipment and cable manufacturing industry, machinery industry and military electronic equipment, etc. individual stocks.
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