Category: Money tips Release Date: 2006-01-02
Source: Huatai Securities Author: Chen Huiqin
Today, stocks in the red above the weak trend of 1600, the tape started callback, red tape in the inability of the situation carried out under the 1600 correction, the KLCI to close at 1570.73 points, down 35.18 points, on turnover of 13.9 billion, stocks in the Chong 1600 unable to start the next trend callback, Shen Chengzhi to close at 3853.74 points, down 55.91 points, on turnover of 7.91 billion yuan, Liangnengweisuo, hot spots, scattered, some strong trends of new shares, institutions are in tune warehouse.
Disk shows that major gainers are mainly G Jielong, Mailyard, G Tong, Kinmen and Matsu, and G Philip industries Zhuanggu, operability is not strong. The Awkwardness of Fund such as the G Laojiao, space technology and G Unit G North-West, weight and military decline of the top flight and so on, indicating body position in the deepening of structural adjustment phase.
With the increase in bank deposits, bonds, money market, tight surface, on the one hand the stability of future earnings IPO shares attracted a lot of secondary market capital, another week, and directed issuance of making a small non-significant increase in the supply of this market funds face a two-way squeeze pressure, will make money promoting the loss of the material basis of sexual Quotes In addition, the structural over-apparent as the market, technical level, the pressure above 1700 points, greater levels of market transactions and a number of technical indicators are related to the formation of departure from the performance index, the market also would have entered the range of oscillation, individual stocks into low-profit era. Additional perspective on the orientation, as of last Friday, there were 121 listed companies have proposed private placement program, with a total issuance of shares of about 280 million shares, the exercise price in accordance with additional terms, to raise funds will be more than 140 billion yuan. Directed additional restart, originated in the share reform. Major shareholders to subscribe for additional equity shares, private placement, though not immediate expansion, but in reality, these shares will be gradual in the future flow of private placement will allow a small-cap stocks overnight into large-cap stocks, the company's valuation will be have a significant impact.
As the volume always maintained a relatively low level, indicating that market participants were not enthusiastic about the same time, that due to market weakness, the Fund had to take a conservative strategy, and even forced to sell part of the response to redeem the stock, due to the current round of Quotes from the 1757-point The most significant drop of 216 points, the top of the 1600,1624, and 1650 points constitute a resistance, with only Sinopec, G and G Unicom, China Merchants Bank shares lift and other indicators have also seemed to indicate that part of the funding effort to safeguard the index. Today, in Shanghai Petrochemical, China Petroleum and indicators for stocks callback situation, the broader market will inevitably start callback. As the funds transfer positions at the main body, the broader market into the likely range of finishing, we should avoid the high valuation of the accumulated gains a larger body Awkwardness due to liquidity risk arising from the callback. Because some of the fund in the broader market shares skyrocketing when the chase part of the concept, but when the market drops, if you discover that the company's stock price rose and the company's future performance does not match, then lighten up the same for such stock is not soft.
Monday the suspension of two weeks the news of issuing new shares, the shares section of the Weier Tai and source of technology trend of strong days, other stocks fall trends, we believe that treatment should be differentiated between new shares. Disadvantaged in the listing of new shares by financial concerns Wang Dian-dong magnetism, days source technology and varieties of Datong-Qinhuangdao railway, the callback process, the funding is very obvious signs of low carry. Always has a weak stock market speculation of new shares, says that lack of confidence as the market position when the number of IPOs will be inhibited, so as to create opportunities Jiancang low-cost power resources, we should not forget that three flower shares, the source electronics and other small-cap shares crystal the time of listing under the broader market break 1000 points, some pessimism in the strength of institutions in the market, calmly Jiancang, in the months following the sharp rise. At present, some varieties of visible initiative shares callback, due to expansion of new issues this week, the pressure is very light, but also for part of the new shares rebound to continue to create a favorable external environment. We believe that, after the second consecutive sell into the Bank of China should be part of the body center line Tandi The concern, the afternoon decline is much less than its big stake in China's banking institutions approaching 3 months, when the stock is expected to usher in a wave of retaliatory more intensity rally.
We firmly believe that, although the tape repeatedly, but ultimately the value of enterprises will stand out in the market decline in a falling market is easier to find and collect valuable or undervalued businesses. There is no eternal value, but we should stick to the value of looking for undervalued stocks faith, in particular, a pessimism in the market. At present China to report on the 2nd, the Great Wall safe return, Hua, and Dacheng wealth of life-cycle are collected, while robust growth in the South-2, a new selection of work Yinrui balanced, easy to square up on the 2nd, etc., have successfully raised a total of about 30 billion to raise funds yuan. For the strong stock picking ability of mainstream institutions, the fall but is an excellent opportunity for mining stocks, and we should seize every adjustment bargain growth stocks and value stocks to absorb the opportunity to bargain-hunting interest Yejiyuzeng shares, regardless of Quotes how to interpret, the value of the investment growth remains the main line. The future performance of those who have supported, especially in mid-year report a substantial increase in performance of the chain stocks such as G Yung-tai, G, and G CYTS Huaguang and so on, after falling band will usher in investment opportunities. Steady middle of the investors, based on defense, to keep a low position, waiting for better timing of the center line of intervention.
