Category: Money tips Release Date: 2007-05-19
Last Saturday, a value on the stock market risk and investment seminars held at the newspaper building, the guest was to report on R & D center, senior strategist at Societe Generale Securities researcher Zhang Yidong, his current and future risks of stock market trends are analyzed and judged, He believes that the current stock market volatility is increasing, but this is only the medium-term phase fluctuations rather than a major adjustment, shareholders have no need to panic, for small and medium investors, maintain a 7 into a position more appropriate. After the meeting, more than 200 audiences to feel benefit.
Grasp the bull market trend
Zhang Yidong, said, comparing the current market rumors affecting the market in 2007, the main uncertainty is the sale of shares of stock will be limited lifting of the ban, the macro-control measures and the anticipated launch of stock index futures, etc. But in fact, investors are worried that these factors will propel the market is more healthier, more sustainable development. Investors, the key is to grasp the "bull market" is a major trend, on this basis, to beware of the short-term volatility risk; and fall tend to produce long-term investments to buy.
He said, A-share market bullish on the one hand is to raise the level of valuation, in the yuan appreciation, excess liquidity, capital market closed against the backdrop of the leading Chinese domestic capital asset pricing, destined to give China a premium valuation of assets ; the other hand, lies in rapid economic growth, a major shareholder of assets brought into the performance of surge.
Mid-course adjustments should be washed after the 5000 point
"Grasp the bull market in this major trend is the key to stability and investor psychology, the current short-term volatility through the blue-chip stocks to adjust, the 4000 point position of the stock market fluctuations do not exceed 15%." Zhang Yidong, said that mid-course adjustments should be rushed into the 5000-point After that time, the value of deviation is too large, the callback will be the strength of the greater thrust backwards more than 3000 points is possible.
He said that the economic growth of endogenous growth, and asset injection, new shares issued to bring exogenous type growth is the key to pushing up Quotes. This year, more than 20 times since the yuan exchange rate has hit a new high, while the stock market wealth effect led to flow of funds to the A shares, coupled with the anticipated launch of stock index futures, as well as iron and steel, nonferrous metals, electric power and other large-cap stocks valuations are still reasonable, etc., will drive the stock indexes continue to rise from the current margin of safety into the scope of a real bubble.
Investment mentality to "terrorism"
In the face of stock market risks and investment opportunities, Zhang Yidong, suggest that investors have in mind to "anti-terrorism", the face of temporary fluctuations will not have panic, as long as a clear understanding of the trend, beware of short-term volatility risk on it. He suggested that investors, while maintaining the premise of 7 into position, using the volatility of stock to adjust positions. Focus on low-lying land belonging to the valuation of the blue chips, choose a value investing margin of safety of the industry, the focus in the operation, rotation of the opportunity to grasp the hot sectors, concerns the overall level of price-earnings ratio below the market sector.
