Category: Money tips Release Date: 2006-06-26
Source: Guangzhou Bandung Author: Ling Xue-wen
Affected by the recent high point of psychological pressure, some indicators of stock and continuous adjustment of the mainstream hotspots, and the forthcoming issue of new shares and other factors, Shanghai and Shenzhen broader market Wednesday continued to show a pattern of high order shock the market and further increase the differences between long-short. The average price-earnings ratio is currently in Shanghai and Shenzhen A share valuation levels do not have a significant advantage, coupled with new shares issued will divert the funds to bring a certain extent, be constrained in recent phase of the Shanghai and Shenzhen stock index movements. Specific operational strategy, the investors should pay attention to controlling the proportion of good positions, while mining has a positive valuation of advantage or with compensatory growth potential and reasonable valuation of variety.
[Today's market conditions]
Non-ferrous metal plate in the overall adjustment and China Petroleum and weak stocks drag index, the Shanghai and Shenzhen broader market Wednesday showed the trend of shock adjustments, the two cities are small-stock index closed at Yinxian volume than the previous day continued to enlarge. Index runs from the day the trend point of view, early in the Shanghai Composite Index opened 1656.28 points, after the military aerospace, automotive and other hot spots once driven by a small ascribed to up to 1667.23 points, but due to the recent high point of the psychological pressure, multi - the gradual increase in air their differences. Afternoon tape one level down to the 5-day moving average near to seek support and stabilize a little late and ended up under the shadow line onto a small Yinxian at close. Shen Chengzhi trend similar to the corresponding adjustment of the trend of showing high shock, short-term will be faced with the choice of direction.
From the disk situation, even though the two cities most of the adjustment of individual stocks appears certain extent, but the Stock Quotes remained relatively active, the two cities together 47 units (excluding ST stocks) rose; asset restructuring, mergers and acquisitions, debt settlement and other subjects, especially ST Recently, continuous type of tectonic activity, such as the ST Fountain, * ST Zhaohua, * ST alloys, * ST Tung Yuen, * ST Huafa A, * ST biochemical, G * ST Natural, ST East Carbon, ST Taurus and so on more than 40 ST stocks daily limit. Securities and Futures Commission recently issued a "Circular on Further accelerate the debt settlement of the notice", a listed company set off a clear debts of small climax. According to rough statistics, nearly 30 companies to disclose the Qing received a major shareholder and related parties occupy a notice of funds. Among them, the vast majority are cash repayment is completed. Today, car plates, as well as auto parts and other firms active in movements, such as the G SAIC daily limit, G Singapore, Malaysia, Yueda investment, G JAC, G JMC, FAW Xiali, G Heavy Duty Truck, G Cheung, G Dawn, G Dawn and so on. In addition, the Eleventh Five-year investment topics such as aerospace industry, equipment manufacturing and other topics shares continues to be active, such as the Hongdu Aviation, G aerospace, Hafei, G XAC limit-Su Changchai, G flight technology, G rockets trend is good.
The drop table, the non-ferrous metal plate overall adjustments, such as the G Jean, G Zhuzhou Smelter, G CCA, G Xiamen Tungsten, G Yuguang, Shandong Aluminum, G Dongfang Tantalum, G cloud aluminum, G Tin, Jiaozuo Wan Fang, G decreases zinc industries among the front table. As the plate as a whole or large, while international financial markets is expected to end loose monetary policy, including the U.S. Federal Reserve, European Central Bank raising interest rates in Japan ended the zero interest rate policy, and increase transaction costs of metal and so will constrain the plate toward the afternoon. Noted that the indicators of China's petrochemical stocks led the recent trend of weakening, combined with new shares may be issued, and so have become the diversion of funds discourage short-term market movements is an important factor.
Wednesday, the Shanghai Composite Index opened to 1656.28 points, up 1667.23 points, the lowest 1628.68 points to close at 1641.30 points, down 15.99 points, or 15.99%, turnover of 33.377 billion; New Composite Index (000017) opened today at 1376.27 points, the lowest point of 1350.81 up 1382.80 points to close at 1360.98 points, down 17.86 points, or 1.30% on turnover of 24.17 billion.
Shen Chengzhi opened 4349.90 points, up 4372.40 points, the lowest 4264.99 points to close at 4292.10 points, down 56.64 points, or 1.30% on turnover of 22.083 billion. Shenzhen, a new index (399.1 thousand) to 1689.31 points, opening morning, the lowest 1653.57 points, up 1704.31 points to close at 1667.26 points, down 22.57 points, or 1.34% on turnover of 16.816 billion.
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[Today In news]
Wednesday mainly in the following several news worthy of investor attention:
1, the Commission issued "Guidelines sponsors due diligence." SFC who stressed that "the Guidelines" is a sponsor of the general requirements of due diligence investigations, irrespective of whether there is clearly stipulated that any issue of any conditions or for investors to make investment decisions have a significant impact of information, the sponsor should be diligent and responsible manner in per capita due diligence.
2, the international network working under the Placing price range determined. Draw up the rear of old and new IPO companies in the first public announcement of international today to finalize the issue price of placing nets under the range was 6.17 yuan / share to 7.40 yuan / share. Notice that this price range-based sub-inquiry offer a more focused range of price-earnings ratio of its corresponding interval, and was released last year's net profit is calculated as the total share capital of 16.54 times to 19.83 times.
3, new from the old IPO second single, Coship will issue 2,200 million shares. Just new from the old restart "IPO first single," China CAMC shuttle to conduct inquiry in Beijing to promote the occasion of the Shanghai and Shenzhen, Shenzhen Coship Electronics Co., Ltd., today released the prospectus, which will be held June 12 through the Shenzhen Stock Exchange Trading System issued 22 million new shares, becoming the CAMC IPO and later a small and medium enterprise board.
4, SSE's first single-IPO Whispering Datong Coal Industry, to be had raised funds of approximately 1.95 billion. Department of China Securities Regulatory Commission issued yesterday, determined to restore the Shanghai Stock Exchange IPO first single for the Datong Coal Industry. Datong Coal Industry issued approximately 300 million shares of A shares to raise funds to be approximately 19.5 billion yuan.
5, the SFC latest statistics show a total turnover of the stock in April of this year amounted to 715.785 billion yuan, increased 79% last month, broke through to August of last year's record of 464.127 billion yuan transaction amount, a record high.
[Afternoon Brief]
Affected by the recent high point of psychological pressure, some indicators of stock and continuous adjustment of the mainstream hotspots, and the forthcoming issue of new shares and other factors, Shanghai and Shenzhen broader market Wednesday continued to show a pattern of high order shock the market and further increase the differences between long-short. In the short term trend, the market will face the choice of direction: the first case is compensatory growth, driven by hot spots continue to break up; the second trend is likely to continue callback order, resulting in high vibration pattern of the formation of a small box . The author in a recent analysis of market conditions has already been mentioned, the Shanghai Composite Index after the end of April to mid-May a continuous short squeeze up since the rapid increase in the level of the overall market valuation, as of the overall market price-earnings ratio in Shanghai has reached 22 times the level of around Many times the stock's price-earnings ratio as high as 30 or more; the current average price-earnings ratio in Shanghai and Shenzhen A share valuation levels do not have a significant advantage, coupled with new shares issued will divert the funds to bring a certain extent, be constrained in recent phase of the Shanghai and Shenzhen stock index trend . Overall, the structural adjustment of the internal market, relatively strong demand, short-term do not have the conditions for the continued substantial upside to form a high risk of a larger shock box.
Specific operational strategy, the investors should pay attention to controlling the proportion of good positions, while mining has a positive valuation of advantage or with compensatory growth potential and reasonable valuation of variety. I suggest that investors focus on the following two ways: First, low levels of business valuations, mergers and acquisitions with a variety of topics, including iron and steel, automobile, etc.; second, with the reorganization of assets, asset injection and other varieties of themes. Split share structure reform makes the controlling shareholders of listed companies have taken place in the nature of the attitude change concerns into the future to speak of the price of assets, orientation, or their own funds to purchase additional high-quality assets, major shareholders, major shareholders or by appraised assets to repay the historic assets replacement debt, backdoor listing and controlling shareholder of the replacement theme varieties. Third, due attention to the defensive nature of species, including airports, ports and highways. In addition, other topics such as the Eleventh Five-year investment plan, circular economy, equipment manufacturing, and other topics in the compensatory growth potential of stocks with a positive track is worth.
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