Category: Money tips Release Date: 2007-03-10
Source: Ling Xue-wen Guangzhou Bandung
Abstract: In 2831 the Ministry of Finance adjusted export tax rebate policy and merchandise will be considered next week, the Ministry of Finance to issue special treasury bonds to buy foreign exchange foreign exchange investment company as a start-up capital and other sources under the influence of Wednesday both the Shanghai and Shenzhen broader market down trend showing ascribed, in particular, is a sharp diving Quotes late can not fail to make the market think of May 30 raised the duty rate will lead to a continuous fall market, pre-"policy-top" of the psychological stress and has a continuous series of policy measures introduced to enhance the market is no doubt the cautious attitude of so that afternoon to run once again cast a shadow over the broader market. In the index at a relatively high level of stage and the overall market valuation does not have the obvious advantage of the premise, the performance of individual stocks will inevitably face further differentiation, and only in line with national industrial policies, with high growth potential or long-term competitiveness of the species, as well as through asset or asset replacement injection and other innovative means to achieve the performance increase in high-quality varieties by leaps and bounds in the afternoon can be relatively complex operating environment stand out.
Today's market conditions
After the shock of two consecutive trading days up after the Shanghai and Shenzhen broader market Wednesday showed ascribed to trend down, especially late in a sharp diving market, the two cities both indexes in order to Yinxian reported income, total turnover is about 308.474 billion a day. Index runs from the day the trend point of view, early in the Shanghai Composite Index opened 4269.46 points, after the injection in some Yejiyuzeng and assets such as stocks, led by subject matter up once concussion after hitting a high shot up to 4312.00 points, with the previous high point 4335.96 point is only one step; psychology tends to be cautious as the market, late in the profit under selling pressure quickly sell into, and the breakdown 5 moving average support, the minimum dropped to 4164.27 points Monday has not yet been covering the gap is expected to remain short-term there is inertia test a low cover the gap trend. Shen Chengzhi trend similar to the corresponding rendering ascribed to drop situation.
From the disk situation, the two cities large stocks fell, including the Shenzhen market, the ratio of 108:526 Number Change, Change Number of the Shanghai market ratio of 164:696. Or table, the Washington-tat, Doron shares, Shanggong Shembe, Kaikai Industry Company, Fenghua shares, Chengdefantai, Shenguo Shang, XJ Electric and other 19 non-ST stocks daily limit. Specifically look at some mid-year report Yejiyuzeng stocks also have good performance, as indicated in work bay, Dimagufen, Fuxing Science and Technology, etc.; number of shares of brokerage firms, commercial banks or cross-holdings of stocks remain active, such as Luzhou, Oriental Group and so on. In addition, some asset restructuring, asset injection with the overall theme of shares listed to remain active, such as the Fenghua shares, up to Washington, Tianhong Baoye, Datang Power, Hunan Haili and so on. Drop table, the cumulative gains a greater variety of non-ferrous metals and other resource-based effects by the adjustment of export tax rebate policy adjustment appears more substantial, such as your research Platinum, Gene Nickel, Hing Fat Group, the tungsten high-tech, etc.; Chongqing Development , Wong Taiwan liquor, Northern International, Feidahuanbao other 20 stocks fell more than 8%.
Wednesday, the Shanghai Composite Index opened to 4269.46 points, up 4312.00 points, the lowest 4164.27 points to close at 4181.32 points, down 88.20 points, or 2.07%, turnover of 195.923 billion; Shen Chengzhi opened 14,499.46 points, the highest 14,576.00 points, the lowest 14,005.28 points, close of 14,107.23 points, down 229.17 points, or 1.60%, turnover of 112.551 billion.
In news today
Wednesday mainly in the following information for investors to focus:
1, in order to further control the excessive growth of foreign trade and exports to alleviate China's trade surplus is too large to bring the outstanding contradictions, optimize the export structure, and keep the "high energy consumption, high pollution, resource-based" products exports, the promotion of foreign trade growth mode change and the balance of import and export trade and reduce trade frictions and promote economic growth patterns and economic and social sustainable development, the approval by the State Council, Ministry of Finance and the State Administration of Taxation, the State Development and Reform Commission, Ministry of Commerce, General Administration of Customs in June 18, issued the "Ministry of Finance State Administration of Taxation to reduce the export tax rebate rate of some of the goods notice" requirement from July 1, the adjustment of 2831 commodity export rebate policy. Customs Tariff in these commodities account for about 37% of the total number of all goods.
2, dusty, two-year-old directed brokerage Personal Financial Services will thaw, the asset management business of securities companies directed the implementation details are innovative securities firms in the comments. However, which provides eight million yuan threshold, causing the industry wide concern. According to the draft Regulations, directed brokerage asset management business of investment include equity, securities investment funds, warrants, bonds and repo, bank deposits and other investments permitted by laws and regulations varieties; but they were not allowed in any way, the principal of the client assets to obtain the minimum gains are not lost or make a commitment that can not be called "capital preservation."
3, next week's meeting of the Tenth NPC Standing Committee 28th meeting, the Ministry of Finance will consider the issue of special treasury bonds to buy foreign exchange, foreign exchange investment company as a start-up capital. According to informed sources, in particular, the size of the national debt is equivalent to 2000-2500 billion U.S. dollars, or about the end of March, when 20% of China's foreign exchange reserves -25%. A static point of view, market liquidity is indeed been effectively withdrawn from circulation.
4, following the previous session, after breaking 7.62 mark, 20 yuan central parity rate to 7.6180 and then earned a new high since reform. This is the yuan central parity rate six consecutive trading day hit a new high. 8.11 when the exchange rate reform in accordance with the exchange rate calculation, the accumulated appreciation of the RMB exchange rate reform has been close to 6.46%.
5, in the background of excess liquidity, the market capitalization of a new high water levels. According to China's ocean-going release the results of today's announcement, it was online and the freezing of funds under the aggregate of up to 1.629 trillion yuan. China Ocean to raise funds deduct part of the next two days, there will be more than 1.6 trillion funds were unfrozen. Specifically, today net 401 billion unfreezing of funds under the Placing, tomorrow thawed online 1.2173 trillion.
Comment on market outlook
In 2831 the Ministry of Finance adjusted export tax rebate policy and merchandise will be considered next week, the Ministry of Finance to issue special treasury bonds to buy foreign exchange foreign exchange investment company as a start-up capital and other sources under the influence of Wednesday both the Shanghai and Shenzhen broader market down trend showing ascribed to, in particular the tail disk can not fail to make the market a substantial diving Quotes think of May 30 raised the duty rate will lead to a continuous fall market, pre-"policy-top" of the psychological pressure and recently introduced a continuous series of policy measures will undoubtedly enhance the cautious attitude of the market, making afternoon to run once again cast a shadow over the broader market.
It is reported that next week's meeting of the Tenth NPC Standing Committee 28th meeting, the Ministry of Finance will consider the issue of special treasury bonds to buy foreign exchange, foreign exchange investment company as a start-up capital. According to informed sources, in particular the bonds will be issued in batches may be in four or five times, and estimated duration of around seven years, the medium-term bonds. The size of the special bond the equivalent of 2000-2500 billion U.S. dollars, approximately the end of March, when 20% of China's foreign exchange reserves -25%. The effectiveness of issue of special treasury bonds is close to issuing central bank bills, but this massive issue of special treasury bonds, for liquidity withdrawn from circulation will undoubtedly have a greater impact; only in the trade surplus and continued to increase against the backdrop of Waihuizhankuan issuance of special treasury bonds As a start-up capital of the foreign exchange market liquidity remains to be seen. Investors should note that, in order to further control the excessive growth of exports to alleviate China's trade surplus is too large to bring the outstanding contradictions and suppress "high energy consumption, high pollution, resource-based" products export, the Ministry of Finance decided to seven On 1 day, adjusting the 2831 commodity export tax rebate policy. Customs Tariff in these commodities account for about 37% of the total number of all goods. Ministry of Finance said that the export tax rebate policy adjustment of the main policy objective is to ease the trade surplus is too large. Clearly, mitigation and management of an active policy measures to divert liquidity driven, as a supporting A bull market an important support factor in the pattern of excess liquidity situation will face a variety of uncertainties, although a limited impact on the market short term, but long-term trends and the market can not ignore the psychological impact remains.
It is the combined effects of these factors, while the Shanghai Composite is technically the psychological pressure of facing the pre-peak has become broader market Wednesday ascribed to drop sharply late diving a predisposing factor. In my opinion, due to a rebound after the recent market has accumulated a certain amount of profit a bargaining chip, especially in the index at a relatively sensitive stage, profit-selling, the increase will inevitably result in large swings in stock. In the short term, the Shanghai Composite Index still test a low inertia cover the gap in sight. But I still insist that the current support for A-share market to a good long-term fundamental factors still exist, even if the excess liquidity be reasonably diverting, but also difficult to change the market's long-term trend for the better. Of course, in the index at a relatively high level of stage and the overall market valuation does not have the obvious advantage of the premise, the performance of individual stocks will inevitably face further differentiation, and only in line with national industrial policies, with high growth potential or long-term competitiveness of the species, as well as through asset replacement or asset injection and other innovative means to achieve the performance increase in high-quality varieties by leaps and bounds in the afternoon can be relatively complex operating environment stand out.
