Category: Money Tips Date: 2007-07-30
Source: Wang Xin Shenzhen Special Zone Daily
Subject to external market impact of a sharp correction last week, three days after the benchmark Shanghai Composite Index plummeted 189 points,
Appreciation of the renminbi, the new accounting standards, the implementation of the merger of the two taxes will become a quarter of the three major investment in the main line
Once again, the deposit reserve ratio increase, China Life listing, the first report of appearance ... ... the policy side, the market face a series of information-intensive mixed, the Shanghai and Shenzhen cities Xianyanghouyi week, three days after last week's plunge in the Shanghai Composite 189 point, in particular, sharply lower late on Friday, the market's fear of the proliferation of a large area of high emotion. However, the annual report can be expected to enhance the performance, the continued appreciation of the yuan, market liquidity surplus, so that investors will not dare to bearish market outlook.
Light pressure on the external benefits will not change the pattern of the bull market
Last week, the adjustment of index heavyweight first began in broad market. As the well-known investment banks come and go abroad to sing the short-funded financial stocks and blue chip companies such as Sinopec, China Life A-share listed H shares from the date of substantial adjustment in a row; United States, Sinopec has also been lowered rating, H shares slump dragged A Shares fell from a high again and again. It is precisely because the Bank of China, ICBC, Sinopec such a broad market heavyweights continued to be sluggish, so that the Shanghai Composite significant weakening in the Shen Chengzhi, but also make the market sentiment was severely affected.
Last week, Hong Kong stocks rebounded 228 points on Friday circumstances, the whole week cumulative decline in the Hang Seng Index is still up 598 points, or 2.96%. In this regard, the South Wang Hongyuan, director of fund investment that, A-share market adjustment arising on prior period adjustment of the international market in a delayed reaction to the normal adjustment does not change the pattern of A-share market bull. The diversification of the market in 2007 hot trend evident than in 2006, while the duration of a specific hot spots will be shorter than in 2006, industry and sector rotation frequency will accelerate.
Hong Kong stocks analysts believe that the recent strengthening of the dollar, putting pressure on Asian stock markets. The short term do not think that the impact of factors conducive to short Hong Kong shares, the Hang Seng Index is expected to Shouwen 50-day moving average.
Performance improvement is expected to bring annual Quotes
Last Friday, the first annual report in 2006 beautiful debut, Jiangnan High Fiber (7.7, -0.40, -4.94%) of the main business revenue and net profits surge 80% year on year, respectively, and 52%. Statistics show that, this beautiful annual report is not accidental phenomena. As of January 10, Shanghai and Shenzhen A total of 482 companies (including B shares) has released its 2006 annual results notice. Among them, pre-growing the company together, 198, accounting for up to 41%, coupled with Yu Ying, losses and reduced losses of the company, the good news category accounted for 63% or more notice. Performance of listed companies, growth is the cornerstone of the bull market of the most important, annual reports of good results are also a number of institutional investors is expected to persist in the long run, more important reasons.
But it is worth attention is that the day of Jiangnan High Fiber Annual Report, stock prices opened low but all day drop of nearly 5%. On the same day notice issued Yejiyuzeng Vanke A (16.1, -0.33, -2.01%) shares also Gaokaidizou, Yao City is also down nearly 2%. Market analysts believe that significantly enhance the performance of some stocks subject matter, and many institutional investors have been the depth of excavation, as the southern flow of high-fiber of the top ten institutional shareholders of all occupied, since 2007, only six trading days before the rise has been more than 30%, its performance is expected to have stock prices respond in advance.
From the annual report disclosure of progress, analysts believe that the disclosure in January of 43 annual reports of listed companies in the blue-chip companies would be fertilizer, paper, colored plates produce a certain positive incentives, especially the colored plates of the most promising by the market. Appointment in February to disclose annual reports of 120 listed companies, the most noteworthy is that real estate companies, both in this section in respect of the accounting treatment of revenue recognition specificity, another annual report to disclose the impact of new accounting standards, as well as land reserve abundant investment opportunities for the company, its most impressive performance expectations. While in March there will be a number of large market leading corporate disclosure report, widely involved in banking, real estate, automotive, aviation, steel, and other various one plate, the industry believe that the focus of attention in the airline reduced its losses and deficits, as well as a substantial increase in the real estate company performance .
Do not change the pattern of excess liquidity
7.8 is the yuan against the U.S. dollar exchange rate is an important juncture. Last week, the yuan central parity rate of 7.8 an integer mark the first time a breakthrough. This makes Hong Kong dollars against the yuan central parity was also the first time in 13 years, more than one level below 1, the RMB exchange rate in 13 years in the first super-HK.
Analysis, trade surplus and continued inflow of international capital, leading to a gradual increase Waihuizhankuan, as well as large state-owned commercial banks, A + H share issuance and listing of success, has further increased the monetary liquidity, caused by the banking system of the funds have been piled up. Industry expects the first quarter of this year, there will be 1.3 trillion yuan of funds into the banking system.
Meanwhile, late last year that people were worried that the Commission may limit the Fund's starting and continuous marketing activities, but the situation at the beginning of this year, the fund first high dividends, and then continued marketing activity continues unabated, with investors still join in . Only the consumption of China's first thematic funds - the Great Wall Consumption Fund, recently launched a limited value of 3.0 billion to limit ongoing marketing activities 5,000 per million dividend, selling only 4 days has exceeded 2 billion yuan in sales. Great Wall Fund said it will cut short his limited sales activities.
Statistics show that in December last year, a total of seven stocks the direction of open-end funds set up to raise a total of 70.0211 billion shares, which means that only the open-end fund will have 70 billion yuan of the incremental capital supply, savings and further route through the fund to invest in the stock market This continues to be an important factor in pushing up the stock market. Changsheng Fund analysts believe that the yuan appreciation, the new accounting standards, the implementation of the merger of the two taxes will be the three major investment in the first quarter of this year, the main line.
