Category: Money tips Release Date: 2006-06-26
Source: Guangzhou Bandung
Abstract: The National Day holiday before the "Red three soldiers" on K-line portfolio to the Festival is undoubtedly the market long gestation laid the foundation for the second storm, but also for the upcoming sixth plenary session, the National Financial Work Conference and the ICBC listing of attack to create a distribution a good market environment. On the strategic point of view the operation of the fourth quarter may continue to focus on the mainstream of the hot plate continuous inflow of funds, focusing on independent innovation strategy around a military industrial equipment manufacturing, 3G, digital TV and other technology subjects, the weight value species and other species of blue-chip strategy for the fund Shigekura nature of opportunities, benefit from the appreciation of the RMB, as well as reorganization and acquisition plate is injected with the overall listing of assets and other topics related to four main line of mining opportunities.
Today's market conditions
Today is National Day holiday last trading day before, Shanghai and Shenzhen stocks in aerospace industry, equipment manufacturing, finance and M & A activity driven by such hot spots continue to shock upside, and the re-closed-yang, with somewhat larger volume; of these early The Shanghai Composite Index opened to 1740.06 points, the basic continuation of the recent strong trend showed a steady upside, the maximum shot up to 1755.69 points, with the previous high of 1757.47 points, phase difference of less than 2 points, to close at 1752.42 points. Up to now, Shanghai and Shenzhen tape on K-line has become the "red three soldiers," K-line combinations, suggesting postganglionic tape is still the potential for further upside.
From the disk situation, local hot spots, and Stock Quotes remain active, G long letter, G Jinfeng, G-day birds, G your flight, G, etc. in conjunction nine daily limit of non-ST stocks; specific point of view, independent innovation, the military equipment manufacturing , 3G, digital TV and other technology topics stocks continue to perform well, such as the G in the joint, G Yunnei, G Liugong, G Xu Ji, G Qin development; G Gao Hong, G Haihong, G Hua Wei, G Long the letter, G Tong Fang, G Tang, G ZTE, G a long pass, G Houston, G Guomai so. Second, the benefit from yuan appreciation part of the real estate stocks as well as the financial sector is also active in the performance of individual stocks, such as the G Wanke, G China Merchants Bank, G livelihood, G Shanghai Pudong, deep development. The market continued to be concerned about the recent asset acquisition, the assets into the overall theme of stocks listed on the market continue to be sought after, including Sinopec Shijiazhuang Refining-Chemical Department, Beijing-based second-class; and Astronautics Department, the Department and other firms such as aluminum. Worth noting that some leading blue chip companies, as well as the low valuation of the Fund Shigekura and good overall performance of varieties, such as Air China, Datong-Qinhuangdao railway, G China Merchants Bank, G CITIC, G livelihood, G Shenergy, G Huaneng, G Wan Tong, G in the collection and so on, afternoon performance was still worthy of further attention.
Friday, the Shanghai Composite Index opened to 1740.06 points, up 1755.69 points, the lowest 1740.06 points to close at 1752.42 points, up 15.46 points, or 0.89%, turnover of 23.829 billion; New Composite Index (000017) opened today at 1454.96 points, the lowest 1454.96 points, the highest 1470.63 points to close at 1467.01 points, up 14.80 points, or 1.02% on turnover of 20.399 billion.
Shen Chengzhi opened 4291.98 points, the lowest 4291.98 points, up 4344.62 points to close at 4326.78 points, up 38.41 points, or 0.90% on turnover of 14.157 billion. Shenzhen, a new index (399.1 thousand) to 1732.14 points, opening morning, the lowest 1732.14 points, up 1752.77 points to close at 1748.45 points, up 18.35 points, or 1.06% on turnover of 11.147 billion.
In news today
Friday mainly in the following several news worthy of investor attention:
1, the Commission recently made it clear that the net capital below the required standard or the presence of the rectification matters of major securities firms, underwriting limits may not apply for exemption, the individual underwriting securities company shall not exceed the amount of net capital of 30%, and no more than 300 million yuan.
2, after lifting a low ebb in September, the October sale of shares of stock will be limited, a further lifting of the ban welcome climax. Statistics show that 25 companies sell 2.858 billion shares of restricted stock, worth about 15 billion yuan traded in October, of which there is reduction of shares of private enterprises possible. Enter the fourth quarter, the limited sale of shares will begin to increase the amount of lifting of the ban. Based on the current market value is estimated that in October, November, December lifting of the ban within a month the amount of approximately 15 billion, 164 billion, 18.6 billion.
3, following the break 7.91 the previous day, after September 28 yuan central parity rate against the U.S. dollar rose above 7.90, then a new high since the foreign exchange reform. Yesterday the dollar exchange rate central parity of 7.8998 yuan. Inquiry trading system in the highest bid of 7.9073 and the lowest was 7.8954 and the amplitude up to 119 basis points.
4, 28, China Securities Regulatory Commission proposed that the split share structure reform of listed companies not related to the program adopted by a vote of shareholders meetings, shareholders can be non-tradable shareholders in the relevant end of the meeting a month later, again commissioned by the Board of Trustees convened on the stock to change the relevant shareholders meeting.
5, China's 863 major projects planned integrated circuit manufacturing equipment, "100 nm high-density plasma etching machines and large-angle ion implantation machine" 28, announced in Beijing by the Beijing Municipal Science and Technology and the organization's project acceptance, marking China's IC manufacture of core equipment research and development has made a major breakthrough.
6, the People's Bank Research Bureau, Task Force report provided by the topic that the current price inflation has eased up but inflationary pressures still exist, the future will show a slight rise in the price trend. The 2006 full-year GDP growth rate of 10.5% of China's consumer price index (CPI) growth rate of 1.5%; first half of 2007 GDP growth rate of 9.5%, CPI growth rate of 1.8% or so.
Comment on market outlook
The National Day holiday before the "Red three soldiers" on K-line portfolio to the Festival is undoubtedly the market long gestation laid the foundation for the second storm, but also for the upcoming sixth plenary session, the National Financial Work Conference and the ICBC listing the issue and create a good attack market atmosphere. Characteristics of the disk from the recent point of view, both the military and aerospace equipment manufacturing, Tianjin plate, the Beijing Olympic theme unit's strength, or 3G, digital TV and other technology topics and financial and real estate of the active, show that the current market sentiment is still strong, broad market obvious characteristics of a strong run. In the upcoming fourth quarter, Quotes, although the index is still further upside momentum, but with the stock continuing upward, and market confidence continues to heat up and the volume continued to enlarge very likely to be coming to an end the current round of periodic Quotes logo , and with the approaching end of the past year, the cumulative market profit-taking pressure will increase further. Therefore, the operation of the fourth quarter strategic point of view, they can continue to focus on the mainstream of the hot plate continuous inflow of funds, focusing on independent innovation strategy around a military industrial equipment manufacturing, 3G, digital TV and other technology subjects, the weight value species and other funds Shigekura blue chip varieties of strategic opportunities to benefit from the yuan appreciation, as well as reorganization and acquisition plate is injected with the overall listing of assets and other topics related to four main line of mining opportunities. On the other hand, in the fourth quarter Quotes in risk management should continue to be placed in an important position, especially in the broader market, after reaching a new high stage of expansion, as well as quarterly results due to such pressures may trigger a callback need to make careful preparations in advance.
Continue to focus on value-weighted variety of strategic opportunities
In the past Quotes in September, some blue chips, as well as the fund Shigekura and the relatively low valuation of reasonable or good overall performance of varieties, including China, Air China, Datong-Qinhuangdao railway, G China Merchants Bank, G CITIC, G livelihood, G Huaneng so. I had that, in addition to valuation of benefits, as well as investor demand for defensive and other factors, the stock index futures, the introduction of margin trading business will significantly enhance the market may become the subject of margin trading of stock index futures, as well as large cap blue-chip variety of asset investment demand; whether it is the main body, or to build their strategic defensive assets Jiancang need to share the weight indicator plates has become increasingly active interest by the market and will become an important tool for stability in the broader market and the next phase of the development of wind vane Quotes .
"Value into the" drive "full circulation era" Quotes to develop in depth
Recent disk is an important feature of merger and reorganization, the assets into the overall theme of stocks listed on the excavation by the market again, more typical is the petrochemical Shijiazhuang Refining-Chemical Department, Beijing-based second-class; and Astronautics Department, the Department of aluminum and other firms. Formal implementation in September, "Acquisition of Listed Companies Management Measures" on the overall listing of the channels has made specific arrangements, regulators have made it clear, through the targeted distribution to achieve the overall market, to achieve high-quality asset injection and the introduction of strategic investors, is to regulate the sector in the related to issuance and M & A activity in the two goals of most concern, support enterprises to absorb the merger with convertible, targeted repurchases, non-public offerings, etc. to achieve the overall market. From the perspective of improving the quality of listed companies, the overall listing of related-party transactions not only reduces the possibility of manipulation and profit, but also reduced the levels of management of listed companies to improve the company's management effectiveness, and further rationalize the company's industrial chain. Thus, for listed companies, the Group's large-scale injection of quality assets will allow the company to further improve profitability and thus enhance the investment value. I believe that merger and reorganization, listing assets into the overall enterprise value of re-discovery and re-creation process, and is expected to become full circulation times the market opportunities for the continued hot and where. Worth noting is that there are market analysts believe that, A-share market has entered a "value into the" stage, the next three years, the market value of A-share market compound annual growth rate will reach 44%.
A long-term appreciation of the yuan push stocks higher
Since entering the third quarter, the appreciation of the RMB exchange rate showed the trend to accelerate, the relevant benefits section including real estate, finance, aviation stocks may be more active in the overall performance, such as the G Wanke, G China Merchants Bank, G and people's livelihood. From a global point of view, necessarily mean that the appreciation of yuan in RMB-denominated assets, the value of upgrading, even though the real estate industry is facing pressure from the macro-control, but the regulation and control policies will not change the real estate as a pillar industry of the status of the national economy, thus providing the real estate industry leading companies, with extensive reserves and land reserve project company, with assets into listed stocks and overall there is still potential for further increase. For the banking industry, the author repeatedly mentioned, A-share listed banks will benefit from China's rapid economic growth, yuan appreciation, good spreads widening in credit continued to grow, accounting for non-interest income increased the rate of decline in operating expenses and other factors Under the impetus of most of the next two years to maintain the performance of more than 20% growth in the long term should continue to be optimistic about the future performance of bank shares.
Bring significant opportunities for independent innovation strategy
Independent innovation is the future development of one of China's basic national policy, according to "national long-term Science and Technology Development Plan", to make technical level of China's information industry into the world among the most advanced master integrated circuits and key components, large-scale software, high - performance computing, broadband wireless mobile communication, next generation networks, and other core technologies to enhance self-development capabilities and the overall level of technology. Prior to this, the CPC Central Committee General Office of the State Council also issued "2006-2020 National Development Strategy", the foundation that has developed, the market prospects of mobile communications, digital TVs, next-generation networks, radio frequency identification and other areas, priority Enable with independent intellectual property rights standards, to speed up product development and promotion of applications, contributing to industrial development. The introduction of the first half of the "speed up the revitalization of the State Council on Several Opinions of the equipment manufacturing industry," made clear the goal to speed up the revitalization of the equipment manufacturing industry, machinery industry is conducive to the rapid development of future long-term health, some of which focus on sub-sectors such as industry, machine tool industry, mining equipment, port facilities, railway equipment and new energy equipment will face a great opportunity.
