Category: Money tips Release Date: 2006-06-02
Source: Guangzhou Boxin
With the banking stocks, insurance stocks re-emergence of the main support the market moves, the market Tuesday showed a gradual recovery trend, while the recent adjustment is also subject shares have rebounded. The short term, as the Shanghai index back above the 60-day moving average at 3887 points, the market has gradually picked up, but whether they can return to pre-bull rose pattern, much remains to be seen whether the line of blue-chip blocks can be further strengthened; while Volume ability to effectively enlarge the two cities, then is to determine the strength of the most critical factor in Quotes.
Message level, the China Securities Regulatory Commission Chairman Shang Fulin, the Commission recently held to mark the 86 anniversary of the establishment of I love you, the General Assembly to "earnestly study and implement the spirit of the speech character name, and actively promote the healthy development of capital markets," as the title, to the party members and cadres to tell the system-wide lectures. Among them, Shang Fulin said to be a profound understanding of China's capital markets "emerging and transitional" phase characteristics, and further strengthen their supervision work, and actively promote the capital market reform and development and innovation, and promote the healthy development of capital markets. At present China's capital market is facing rare opportunities and new challenges, must always remain sober-minded, the scientific development concept as a guide, a profound understanding of China's capital market itself, there are still many deep-seated contradictions and structural problems continue to deepen reform, constantly improve the capital market functions and improving overall market efficiency and market competitiveness. In addition, according to China Foreign Exchange Trade Center, the latest data show that the yuan against the U.S. dollar July 3 for 7.5951 yuan central parity. 8.11 when the exchange rate reform in accordance with the exchange rate calculation, the accumulated appreciation of the RMB exchange rate reform has reached 6.36%. Is the 48th since the 2007 highs. Data show that in 2007 the first half of the people of the appreciation of 2.63%, higher than the first half of 2006, a marked appreciation of the speed of the acceleration of volatility also increased significantly, the appreciation of the speed of each period there are changes, in March rose by only 67 basis points, while the May the appreciation of a single month as much as 549 basis points. We believe that, although the trade surplus continued to remain high, but it may be a moderate slowdown in the second half of the appreciation of the speed, but mainly because a foreign exchange investment company to buy foreign exchange and foreign investment, reducing the balance of payments surplus; two QDII outflows can speed up the opening, the stock market correction to attract foreign capital inflows slow down; 3 to reduce a surplus for the purpose of import and export tax rebate adjustment.
Hot spots, after a more adequate adjustment, the recent Bank of plates in the Bank of China, Industrial and Commercial Bank have picked up, driven by continued strength has become a major force pushing up stock. China's economic characteristics determine the bank is fully benefit from economic growth. Growth with macroeconomic stability, high-growth bank, consumer-led growth, to upgrade a new impetus to the expected appreciation of the RMB will continue to drive bank stocks higher. It is predicted that over the next three years, joint-stock banks to maintain more than 30% of the net profit growth of state-owned banks to maintain more than 20% of the net profit growth. At present, banks stocks in 2008 an average of PB was 3.7-fold, PE of 22.5 times, the combination of high growth, tax relief, mixed business trends, and appreciation of the renminbi, and many other positive factors, the valuation is not expensive. In particular, excess liquidity and the appreciation of the yuan against the backdrop of bank stocks in the long-term investment value of the very large.
Technical level, the shock adjustment, although lasted only a month's time, but whatever the number or volume of accounts have appeared in a large degree of atrophy, we believe that this is the confidence of investors in the market, changes in expression. From the data published in June of view, from the retail sector has started to re-recaptured the right to speak. In fact, a high point and when the market is more need to value investment philosophy as the core investor, so sector once again dominated the market is a good thing. Also, from the recent hot point of view, many funds have experienced defensive Awkwardness of the trend, which apparently shows that the market has entered a virtuous cycle stage, so investors should focus on the operation of the merit Yejiyuzeng Center Daily News blue chips.
