The reserve increase is profitable or bad financial management tips

Category: Money tips Release Date: 2006-10-28

Source: Guotai Junan

Today's tape by Friday the central bank to raise the deposit reserve ratio impact of the news, fell sharply after the minimum dropping as 1632.69 points. As has been slowly pulling up, although the central bank to raise the deposit reserve ratio rate, but a careful analysis of such a policy, I am afraid she has only stayed psychological factors that affect investors, the overall look of the broad market is not necessarily bad factors.

How much reserve to improve profits in the bad?

21, the central bank decided to August 15, 2006 have been re-slightly raising the deposit reserve rate by 0.5 percentage points. This is from July 5 to raise the deposit reserve ratio by 0.5 percentage point, the central bank again raised the deposit reserve ratio, we can see that the central bank's policy is still based on the current tightening of monetary policy to control over-investment. Friday the central bank regulation of the reserve, to open lower Monday morning tape quickly dropped 16.58 points, the lowest post-test a low 32.64 points, started to slowly pull up. In fact, we believe that raising the deposit reserve rate on the tape is just to stay bad impact on the psychological effects. In fact, raising the deposit reserve rate on the secondary market, the impact of interest rate increase to be smaller than many, while raising the deposit reserve ratio will freeze 150 billion of funds, but this part of the funds are mainly bank's liquidity funds as the mainstay, the main The purpose was only to control the overheated investment in fixed assets, economic growth, too fast, the surface of the stock market did not affect funding, such as raising interest rates. We can think that this tightening policy contrary, a form of protection on the stock market. In addition, the central bank to raise the deposit reserve ratio have been shortly after raising interest rates is unlikely to continue to produce a policy and therefore the pressure on interest rates has been smaller and more that shoe hike has been put down in the short term. But also from the increase in turn raise the deposit reserve ratio after the market's continuous performance, and did not inhibit the broad market weakness. Therefore, such a policy in relation to interest rate increase is more good than harm in terms of the broader market is indeed a reflection of early excesses, investors must not chase the sell into.

The short-term shocks and long-term will continue to remain the better

Broad market is expected to continue in the short term the main shock, the main reasons are: 1, the central bank continued to take tight monetary policy, although the impact is relatively small, but there is a short digestive process, the uncertainties in the policy under the premise of off-site capital difficult to sustain flows. 2, the performance of individual stocks is weak, hot spots are still scattered, first of all we can see that in the broader market, after 10:40 there have been a minor adjustment in terms of its magnitude is not very large, but the individual stocks fall faster , the overall trend is still weak in view of individual stocks, structural adjustment is still not completed, and the current unit is facing a mid-year report period, the operation will be relatively cautious investors, from over the years of view, a mid-year report will be relatively weak during the Quotes. Another view from the hot spots are also still more messy. Therefore, we believe that broad market short-term market outlook still needs finishing shocks in order to be able to use their time in exchange for space.

But from a medium to long term trend shows that at present remains that tape is still in a bullish pattern. First of all, two extreme Fund report released shows that at present the fund's position in the stock market basically accounted for more than 70%, and many newly released funds are built positions in the second quarter, thus we can believe that this part of the Fund Jiancang cost is not low, if the broader market rose to the current location of the end of the case, then the fund is not necessary in the second quarter, sharply Jiancang, even with heavily loaded in the current holdings are still shows the current fund managers are still optimistic and the broad market . Second, with the yuan float more and more liberalized, the currency remains a continued upward pressure, so foreign investors still have a higher market outlook continued to enter our passion for capital markets, QFII investment quota will continue to grow, and this has given the stock market provide a fresh blood. Finally current management remains in the care of the stock market's development, from the central bank to raise the deposit reserve ratio can be seen as a protective behavior in the marketplace, while emergency central bank also last week, the market reached 77 billion of net invested capital in order to cope with Datong-Qinhuangdao Railway listing.

Therefore, an integrated on the above, although the short-term shocks finishing tape is still possible, but the broader market can be a positive long-term trend is still bullish, investors must not chase the sell into. Plate, the investor can take an active interest in place some basic adjustments, and the mid-year report results with less risk, there is continuous involvement of institutional investors, defensive blocks, such as 600639G Jinqiao, the latest news, a new record high RMB exchange rate, Beijing, Shenzhen Continuous real estate boom are numerous. Afternoon can be considered from a regional perspective, Beijing, skyrocketing real estate substantially after Cuntucunjin and Shanghai at the K-line at the bottom of the explosive rise in property shares the opportunity to face. Company is Shanghai's leading real estate stocks, land reserves and the real estate project "Pik Garden", "Pik Villa", "Pik New World" has been completed, sale or rental in good condition. 2 can be derived from sales of commercial housing September 16, 2005 opening, closing by the end of 209 sets of pre-sale, more than 80% of availability can be sold for the company in 2006 provided good conditions for sustained growth. Three other projects for the company in recent years, high-growth over the next solid foundation. Secondary market, with the performance of the Unit showed explosive growth, the current share price, the underestimation of the suspect, short-term Xipan been fully completed, is expected to carry out sustained ferocity ascending trend, it is recommended to focus on only the leading Shanghai Land shares.