Category: Money tips Release Date: 2006-05-23
1, Market Review and Investment Strategy
â—?medium-term trend:
When the treasure hunt turned into a bloody massacre, when blue chip stocks for the fund crazy beheaded fine-sounding name tune warehouse, when the holdings of major shareholders committed acts of losing ground in the market when the stock repeatedly to support the market for six months in the line of dropped down after the selection became inevitable. We can identify are: 1, share-trading reform can no longer afford hanging investor appetite for stock split of the price model has been mentioned can not afford the interest of investors, sparked by the stock split the stock bull market has completely ended; 2, the market always uphold the value of investment in the fund big defensive blue-chip listed companies to be beheaded when the idea of this investment will also be abandoned cloudless, new investment ideas in the "Eleventh Five-Year Plan" under the brewing; 3, a major shareholder tried all the way to obtain tradable, which also received a further means for misappropriating the tickets, but their faith is only wishful holdings, profit-driven investors will not have the patience to wait for endless far-fetched a "pie" in the future as long as there is increasing holding the bottom line once the resumption of trading of listed companies will be merciless on the bottom line of the break.
We believe that the latter part of the market center on the "Eleventh Five-Year Plan" for regional arbitrage opportunities. In the early emphasis on our new energy, new materials, resource-based listed companies in line with national industrial policy, investment opportunities, this week, our focus is to tap the market is brewing new force - the concept of digital TV and 3G. Experienced investors in dot-com bubble has been a lingering fear of the conceptual speculation, but
Gehua (600,037 market, information, advice, more) of the Quarterly Bulletin can be seen that the concept of digital TV has formed a new profit model, but also greatly sought after by the Fund. Radio and Television Network (600,831 market, information, advice, more) are also reborn in the asset reorganization, if the company access to large funds to purchase the parent company's 11 prefectures and cities charge cable assets, the company will in the future to obtain stable and considerable income . The same stocks should also be focused on the Pearl G. These three stocks is expected to be digital TV's "Troika." "Eleventh Five-Year Plan" Guidelines opportunities for industrial upgrading, the new generation mobile communication (3G) of this new industry is attracting incremental funding concerns. Investors concerned about the opportunity to have the 3G industry, the communications device class stocks, such as high-hung shares (000,851 market, information, advice, more). "Eleventh Five-Year Plan" the state will invest 10 trillion yuan in key construction UHV power grid, power equipment manufacturing industry also there is a big opportunity to focus on companies that are G Tianwei (600.55 thousand quotes, information, advice, more), special Variable Electrician (600,089 market, information, advice, more), Ping Gao Electric (600,312 market, information, advice, more).
We believe that the tape will draw on the "Eleventh Five-Year Plan" completed by the share-trading Quotes Quotes to industrial transformation and change.
Range of the mid-market operation will focus on: 1000 points - 1115 between points.
â—?Short-term trends:
Last week's tragic do not want to drag on. Investors are again reminded to be tight around the "Eleventh Five-Year Plan" make investment decisions! From a technical trend analysis, six months after the index down to speed up the fall line vent, 1050 points, the short-term key support and the place, while half-line constitutes a resistance area. Our investment advice is to focus on digital television, 3G and the original recommendation of new energy sector.
Short-term operation of the market range will focus on: 1050 points - 1115 between points. (Your opponent on the price of the stock held by the program satisfied? You think a reasonable price should be the right number? - Soon send short �letter to vote! Write "JF01 or JF02", 01 on behalf of "satisfactory", 02 stands for "unsatisfactory." Mobile users sent to 2.9116 million + stock symbol (eg, 2911600600104), China Unicom users send to 9.9016 million + stock code)
Second, macro-economic policy analysis
National Bureau of Statistics released last week, after another 1-9 months the national economy, several key indicators:
1,9 months, "National Real Estate Index" for 101.57, down 0.29 points more than in August, down 3.46 points over the same period last year. Vacant floor space of commercial housing index for the 101.90, down 0.81 points more than in August, down 7.85 points over the same period last year. 9 the end of the country area of 109 million square meters of vacant commercial buildings, an increase of 10.8%. Among them, the vacant commercial residential area of 60.06 million square meters, an increase of 4.2%;
2, the whole social fixed assets investment 5.7061 trillion yuan, 26.1% over last year,
3, the national retail sales of social consumer goods up 13%;
4, urban residents per capita disposable income of 7902 yuan, increased 11.7% over the same period last year, an inflation factor, the actual increase of 9.8%, an increase of 2.8 percentage points higher than the same period last year. The national average wage of 12,291 yuan in urban units, an increase of 13.6%.
5, industrial production added value of 5 trillion yuan up 16.3%;
6, the national-scale industrial enterprises realized profits of 988.3 billion yuan over the same period last year 20.1%. Of industrial economic efficiency index 171.96, 10.42 points compared with same period last year.
7,9 the end of finished products of industrial enterprises above designated size of funds 1.2079 trillion yuan, up 18.8%. Among them, the state-owned and state holding enterprises 366.7 billion yuan, an increase of 10.6%. Industrial enterprises, accounts receivable net 2.576 trillion yuan, an increase of 16.2%. Among them, the state-owned and state holding enterprises 761.9 billion yuan, an increase of 3.4%.
In addition to the macro-control data showed a direct impact by the real estate and fixed-asset investment declined compared with the same period last year, the other economic indicators continued to grow steadily, the national economy running well. However, financial and industrial enterprises of finished products rapid increase in net accounts receivable and net worth noting is a big problem to solve, enterprise funds are occupied too much is not conducive to development of increased operational risks.
Last week People's Congress passed four laws on the economy, including "Personal Income Tax Law", "Securities Law", "Company Law" amendment to the adoption of the most spectacular.
The revised "Personal Income Tax Law", personal income minus the standard wage income by 800 yuan to 1,600 yuan.
The revised Securities Law, first expanded the scope of securities transactions, and for the more restrictive prior to the sub-operators, sub-sector regulators, spot trading, margin trading, state-owned stocks and bank money market five kinds of problems are to authorize the State Council separately formulate laws and regulations, rules, and other forms, "chap." Changes implemented over the past management practices of securities companies, while the securities company's risk control mechanism be improved. Second is to strengthen the regulatory powers, but also the exercise of power strengthened the constraints, provided the corresponding legal responsibility. Third, to further improve legal liability, penalty clauses will be increased by one third, to 47. Fourth, increased and strengthened protection of the rights of investors, the intensity. The establishment of the securities investor protection fund to provide investors in the implementation of third-party depository financial transactions, customer securities and funds shall not be diverted shall not be enforced. 5 is to improve the transparency of information disclosure. Clear issuers, listed companies, listed companies, executives, all kinds of intermediary institutions, the main legal responsibility.
The revised company law compared to the original law had five major adjustments, First, improving the company's establishment and corporate capital system requirements. Significantly lower than the company's minimum registered capital, shareholders can expand the property range of contribution to the company, increasing Inc. private placement to establish means of "one-man company" into the company law of the adjustment range. Second, revise and improve its corporate governance structure requirements. Perfected the system of shareholders and the board of directors, increasing the board of supervisors authority to increase the independent directors of listed companies to set up the provisions of the company's directors and senior management of the company's loyalty and diligence obligations as well as breach of obligation to make a more explicit and concrete requirements. Third, enriched the company's employees democratic management and protection of workers rights and interests of the provisions, and further strengthen the protection of the rights of workers. 4 is sound a series of small shareholders, especially the interests of shareholders of the protection mechanisms. 5 is the addition of "disregard of corporate personality," or as "piercing the corporate veil" system requirements.
These three amendments to the smooth passage of the law for the system construction of China's economy provides a favorable security, the new legal regime to expand the space for the healthy development of capital markets, but also given the mission of the capital market more difficult for securities firms and securities markets The reform and development of pointing out the direction, especially the securities companies should be based on the new law necessary to step up their operations to adjust. The new terms of the stock market there are many positive factors that need to carry out the work. A total of 2 1 [2]
