Category: Money tips Release Date: 2006-08-11
Source: Guangzhou Bandung Author: Ling Xue-wen
This week in August into the first trading week of both Shanghai and Shenzhen markets showed Powei down trend. Next week there will be five new shares issued-intensive, and another 13 non-tradable shares of listed companies will lift restrictions on capital in the market pressures will continue to face a severe test. Funds in the market face unbearable pressure from a large-scale expansion of new shares, funds continue to flow from the secondary market, a market, resulting in "sustained bleeding" situation, a direct manifestation is the repeated indexes down for support, the market continued downward focus. Therefore, the market risks and to release to the structural adjustment process, the timely conversion strategy is crucial.
[Today's market conditions]
By next week, five new shares issued and 13 intensive non-tradable shares of listed companies and other factors affect the lifting of the ban, after a brief decline stopped for two consecutive days after the Friday tape to further test a low Shanghai and Shenzhen to seek the support of the basic performance of the day fall for unilateral trend, both in both Yinxian reported income, another larger volume than the previous day, showing heavy volume decline trend. Index runs from the day the trend point of view, early in the Shanghai Composite Index opened 1601.61 points, after the Petrochemical Department, asset restructuring and other active stocks, led by a rebound was once weak, Hu Zhi rallied to 1612.10 points, but because of market psychology is very caution, a slight rebound in early trading after the index tumbled all the way, especially the broader market fell below 1,600-point mark after the panic intensified, accelerated in late fall, which will eventually close to a day low of 1570.15 points. Shen Chengzhi a similar trend, today fell below the 120-day moving average support and showed the Japanese K Line 8 Lianyin combination.
From the disk situation, the phenomenon of individual stocks Pudie serious, Shanghai and Shenzhen markets rise ratio of 61:652 and 71:791, respectively; from table decline of view, pre-or a huge industry and the high valuation of stocks, including non-ferrous metals, aerospace military, machinery, etc. once again become the hardest hit, G in gold, G Lu gold, G Zhuzhou Smelter, G Tianwei, G flight science and technology, G and so on among the decrease in the forefront of XAC, G wave, G soda, A relays, G North-weight stocks lower limit, etc. 6. From the table or view, a potential asset restructuring and injection of more active M & A theme stocks, such as the G Jinfeng, G light aircraft, G Kim, G Zhong-Bao, G in the enterprise; Department of China Petrochemical Sinopec, Shanghai Petrochemical, stone Petrochemical, Yizheng Chemical Fiber and so on. In addition, some commercial, real estate classes is also reflected in individual stocks, such as G 900, G Chinese industries. With the valuation and value-added potential advantage of stocks and by the industrial policy to support industries and individual stocks sought after by the market, such as the G Hing Fat, G SEG, etc.; chemicals, new materials, new energy types in particular, chemical industry, environmental protection type stocks are strong, such as the G innovations, G Chengxing, G and other utilities.
Friday, the Shanghai Composite Index opened to 1601.61 points, up 1612.10 points, the lowest 1567.25 points to close at 1570.15 points, down 30.91 points, or 1.93%, turnover of 14.563 billion; New Composite Index (000017) opened today at 1353.14 points, the lowest 1317.83 points, the highest 1358.48 points to close at 1320.59 points, down 31.94 points, or 2.36% on turnover of 12.256 billion.
Shen Chengzhi opened 3884.32 points, the lowest 3811.52 points, up 3884.32 points to close at 3820.48 points, down 62.67 points, or 1.61% on turnover of 7.985 billion. Shenzhen, a new index (399.1 thousand) to 1593.00 points, opening morning, the lowest 1540.59 points, up 1600.54 points to close at 1543.37 points, down 50.16 points, or 3.15% on turnover of 6.705 billion.
[Today In news]
Friday mainly in the following several news worthy of investor attention:
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1, the state-by-clean-up in the first half, "billion-class" of new projects. Learned from the Development and Reform Commission, Development and Reform Commission, Ministry of Land Resources, SEPA, SAWS, the CBRC issued "clean-up of new projects guidance" required that all localities included in the statistics on the scope of the first half of this year a total investment of one million yuan or more new projects one by one to conduct a comprehensive clean-up.
2, the domestic market, the first warrant "fairy-round" was produced yesterday. Vanke put warrants fell 18.18 percent to 0.09 yuan, into the warrants market, since the founding of the first trading price fell below 0.10 yuan species. Vanke warrants become an "immortal" also makes close to expiration date of "end-round" risk highlights. In the remaining days, the "end round" time value of the rapid wear and tear, will become the main trend down.
3, "the independent directors of listed companies Ordinance (draft)," drafted by the Commission. Manuscript in particular to increase the "description of the procedure," that the board should be consistent with the provisions of all the nominees submitted to the shareholders of the General Assembly elections, the nominees have not been submitted to the shareholders of the General Assembly elections, the board should be informed before the convening of the shareholders of the General Assembly and state nominee reasons, while an explanation on the general meeting of shareholders.
4, following the July 17 to July 21 there are five within a week in cash subscription of new shares after the start line next week, will again be a "week Wuku" phenomenon. August 7 beam software, Huafeng Spandex online cash purchase; on the 9th of international aviation, Ruitai technology; 10, there is the Tung Wah Group co-founder. Among them, the scale of the international aviation finance up to 80 billion, for the year after the Bank of China, Datong-Qinhuangdao Railway, starting the third-largest financial scale.
5, August 7, mass-based shares (002010.SZ) 3765 sale of shares of restricted stock will be traded, which is listed on the SME board companies in the first sale of shares in circulation limit.
[Afternoon Brief]
This week in August into the first trading week of both Shanghai and Shenzhen markets showed Powei down trend. From the Shanghai Composite Index on K-line term, five trading days this week apart from Wednesday and Thursday are outside the cross-Star received the remaining three trading day closed out the Yin Xian; weeks K-line from the point of view, Hu Zhi of the weeks out of the corresponding income in Yin Xian, volume, compared with the sharp reduction in recent weeks; from weeks K-line forms and various technical indicators, market outlook still further signs of weakening. Next week there will be five new shares issued-intensive, and another 13 non-tradable shares of listed companies will lift restrictions on capital in the market pressures will continue to face a severe test. Comprehensive look at a variety of factors, at present the head to build a broader market highs are very clear signs, the current operation of the market has entered a weak pattern of adjustment period is expected next week, Hu Zhi further to 10 weeks MA (1534.61 points in the vicinity) to seek the support of the possibility of .
In a recent analysis of market conditions in the second half I had been on the impact of environmental factors market operation conducted an analysis, these factors include eight factors, respectively, in 2006 GDP is expected to grow about 10%, the RMB exchange rate has appreciated, the listed company performance, the implementation of margin trading system, stock index futures, the strengthening of macroeconomic regulation and control, as well as non-tradable shares to accelerate expansion of the lifting of the ban and so on. In addition to GDP growth, yuan appreciation, listed companies results of operations and margin trading on the market neutral in the impact of preferences, the rest of the market will be negative, so I think the whole environment is relatively bearish market operation in the second half. In particular, significantly accelerate the pace of the recent IPO, the IPO market funds face a large-scale expansion of unbearable pressure, funds have continued to flow from the secondary market, a market, resulting in "sustained bleeding" situation, a direct manifestation is the repeated index down, Market focus downwards.
Therefore, the market risks and the release of the structural adjustment process, the timely conversion strategy is crucial. I suggest that investors in the afternoon the possible technical rebound in the process to further reduce the proportion of positions, and rationally adjust the position structure; can continue to pay attention to the value of the market value of the performance of varieties of the afternoon, waiting for the relevant species of the strategic layout of the opportunity. Combined with structural adjustment in the macro-control policy direction and funds and other institutional investors adjusted positions in the direction of the structural adjustment process in-depth valuation of mining has advantages and growth potential species.
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