Category: Money tips Release Date: 2007-02-25
Source: Beijing in the first place
Tape on top of a row staying at 3000 points, the market parties to a jubilant. Thursday opened a high market continues to go higher, but the sudden change in Yao City, the index fell straight to the market adds a touch of worry, especially given the recent resurgence of low-cost concept stocks price-earnings ratio is above all afternoon to do more power has been inadequate, then the index should be continued to rise and the inevitable need for a new plate to take over leading the banner, afternoon will be how to interpret?
Strengthen the regulation of pressure trash stocks irrational Quotes
Although the policy environment for a large spring warmth to the ocean surface, as in March, but in the specific micro-level, has begun to show signs of a strictly enforced, especially for some junk stocks, low-priced stocks have a negative effect of speculation. On the one hand, we see that the Commission against the cap, lower the stock transaction, information disclosure, etc., has instructed the relevant securities regulatory bureaus Stock Exchange and the company's information disclosure problem and the existence of two market manipulation, insider transactions to proceed with the investigation, has begun to form a quick response mechanism. Such events frequently seen in the recent stock news media, and the substance in a vigorous and resolute action to monitor, step by step tight situation, which for the current market shares and subject matter of garbage stock market, as a direct result of the pressure, cooling effect, we Thursday only to see the number of disk limit-20 came to our house for the near future at least, this is the logic of cause and effect relationship.
On the other hand, in the secondary market, our statistical results is that, since February 28 this round of increases since the trend into more than 8 or S-striker, S * ST biochemical, SST 10000-hung, S Baolong, have already marginalization of the cap, lower-trash stocks, as the market star, up the top 20 basically can not see the fund holding, tape it to rely on contrast in low-priced stocks are up. We do not deny there is a fundamental reversal of part of the cap, lower the better, and re-forecast, asset injection concept, a soaring black-bone chicken change the possibility of the Phoenix, but after all, in the cap, lower the proportion of group or small parts, such species In addition the majority of a non-subject, two non-performance, three non-growth is entirely by virtue of the low stock prices rise or less become a driving force. Lofty price-earnings ratio of the formation of the irrational bubble, sooner or later arise in the market vigilance.
Awkwardness of performance growth organizations do more to create an atmosphere
Statistics show that institution-based Awkwardness A-share market price-earnings ratio below 30 times the range of the number of companies continued to show a downward trend, while the range for more than 30 times the number of companies have appeared in a significant increase, especially in more than 100 times the number of companies range the biggest increase. So on what basis to further bring down price-earnings ratio, to attract investors in the 3000-point above the courage to approach so much?
As of March 20, 2007, a total of 386 public companies to disclose the annual report of 2006, accounting for 26.88% of the total number of listed companies. These companies weighted earnings per share of 0.3418 yuan, up 41.64 percent, return on equity rate of 12.20 percent, an increase of 34.02%. Of these, 97.67% of the listed companies profit, 80.31 percent year on year net profit of listed companies for growth. Comparable after-tax profits of the company's total increase of 60.46%. Is the strong growth performance of listed companies to effectively pull down the overall level of price-earnings ratio. At the industry level is authoritative forecasts came in the first quarter of 2007 increased effectiveness of the good news, such as the power industry, automobile industry, passenger cars, steel industry, petrochemical industry, etc. This sector rose Awkwardness do more to provide adequate reasons.
Meanwhile, stock movements, with institutional Awkwardness represented by Shanghai and Shenzhen 300, SSE 50 Index, as well as a leading indicator of Shenzhengchengzhi past trends, has lagged behind, suggesting that in this round up the offensive, the agency Awkwardness Since the big bang in the near future the process of adjustment Xi Pan, which undoubtedly above 3,000 points, foreshadowed the new offensive.
Body position to meet the 3000 Major New Offensive
Hand the present organization of adequate ammunition. After the Spring Festival, building on the 1st letter of optimal allocation of the fund raised nearly billion, Cinda Australia Bank leading growth, "Feng Zhuankai" --- the Great Wall Hisatomi Core Growth Fund are issued in less than an hour approaching the ceiling, the total distribution of approximately 17.0 billion; for Health Tianfu, and two fund management companies in the sea are also followed by completion of a new fund to 10 billion yuan issuance. After the Fu Foundation and the National Sea Franklin potential combination of funds were 6.7 billion and 8.8 billion issue. Festival for a variety of fund raising this year's release of funds will be larger than hundred billion dollars.
The reality is, to the Fund as the representative body since late 2006, many funds are a combination of opponents in a certain adjustment, a significant reduction in their opinion, the high valuation of species to adapt to market changes. Species in the firm at the same time underweight overvalued, the Fund will invest in the strength of environmental protection, new energy, electricity, iron and steel, automobile and other industries, as well as have the assets into the overall themes of the stocks listed. We note that the four-day 3000 points this week on the market, big money has begun to flow to the main banks, real estate, environmental protection, new energy, power adjustment, such as adequate and reasonable valuation of the industry varieties. Blue chips, heavyweight body, represented by leading the 3000-point Quotes Awkwardness is becoming a new market characteristics, a great sign to replace the cheap junk stocks. Sinopec, Yangtze Power, China Merchants Bank, Angang Steel Company Limited, FAW Car and so on are mostly rising for four days, the flows are evident.
Integrated view, with the appreciation of the RMB another record high, a substantial increase in performance of listed companies, the market interest rate increase a few degrees of concern advantage of this opportunity, "two taxes into one" put through the implementation of the present capital in the market is awash with liquidity, the external funds in to make money under the effect of large-scale approach, capital-driven bull market is gushing out shine. From an institutional perspective the idea of Major positions, in addition to those heavyweights must be configured in addition, a number of lower earnings growth in key blue chips will continue to be configured, such as environmental protection, new energy, electricity, automobiles, and other sections of this currency appreciation investors can focus on , 3000 points, the incentives for the new offensive from there.
