Data:2009-12-12 2:34
Category: Money tips Release Date: 2006-10-08
Source: Tianxin Investment Authors: Yong You-Jie
Second half of 2006 should take a "positive adjustment, attention to individual stocks" investment strategy. Right in the second half to continue to maintain a high growth consumer industries and the leading listed companies, fall in the index can be actively involved in the process; right to suspend more than a year of IPO should be given adequate attention in the second half of the new shares implies significant investment opportunities; proposed to be closed -end funds paid great attention to Feng Zhuankai historic investment opportunities may be a one-time release of the second half of this year.
Market expectations in the second half of 2006 facing the industry and the fundamentals of listed companies split, stock prices there are also the requirements of structural adjustment, the basic index Change the face of the impact tends to balance the market will be difficult to occur in the first half of the pattern of broad based and Lun Zhang to subject matter, performance-based Stock Quotes will be outstanding.
Two main lines as the market tradable six themes, the practical effect of changes in the second half of the system will be fully manifested, the process of institutional change in the investment opportunities in the market will focus on the release. Therefore, investment in the second half of the main line there are two, one needs to find the expansion of economic restructuring brought about by profit opportunities, and also seek institutional change during the revaluation of listed companies to bring investment opportunities. Consumer demand for services investment themes, independent innovation, investment themes, new materials, new energy investment themes, merger and investment theme, equity investment themes, IPO investment themes such topics should be cause for concern.
According to statistics, the current price-earnings ratio for the G Unit Plate 21.76 times book value valuation of 2.08 times, while the A shares of plates and 2.25-fold respectively, 30.1 times, from the worldwide stock market valuation perspective, the current market valuation basically.
The market judged that the current market on the short term there is still room to rise, the Shanghai index is expected to have the opportunity to upside 1800-2000 point line, and subsequently in or too much profit-taking pressure raised to 1500 points the next time around. Adjusted after the end of the second half of the stock market expects the company's earnings growth will be the main line, and the prices will develop in depth. A long-term yuan appreciation will support the market upward, the positive factor in the short term will not change. A situation of excess liquidity in China is an indisputable fact that, while in the macro-economic structural imbalance caused by excess liquidity difficult to eliminate the case of capital inflow is bound to the capital market, thus further pushing up market prices.
As for the market unfavorable factors, in addition to short-term gains brought about by excessive profit-taking pressure, mainly IPO and the shares of the stock sale due to change in the limit of expansion pressure circulation, may constitute a blow to the market.
First attention to "potential" re-emphasis on "value"
Thus, in the second half of the investment strategy should be to maintain the near future to do more thinking, attention to the market hot and harsh, "potential" point of operation; depth adjustment in the market then, should be concerned about the company's value and growth, severely, "value" of the angle adjustment positions .
