Category: Money tips Release Date: 2006-10-28
Source: Guotai Junan
Seven consecutive trading days ending the rising market, market trends tend to dull Thursday. Index opened lower after the shock has remained low, intraday index once meteoric rise to popularity, but the multi-front kinetic energy in the short look pale and weak. In addition, the broader market also ended a continuous multi-day Shangcuanxiatiao pattern distinctly smaller amplitude. The final index was 4115.21 points at close, slid 61.27 points.
"Droop tail" of the implied
As the Bureau of Statistics released in May CPI data have been beyond the control of regulators, resulting in a market for the central bank to adopt a new policy tightening is expected to very strong. However, the tightening action is not subsequently launched, so today's disk placid, and, in addition to opening after a wave of sell into disk, the disk transaction is relatively calm. But did not last long, until 25 minutes before the close of the broader market appeared in the second wave of obvious dive, showing a trend on the "droop tail" posture. Originally, investors from the 5.30 adjusted baptism, has sharply pulled up, dark pieces of diving used to, but today's diving is occurring at the close, leaving us more imagination.
Back to the news, I noted that Thursday, "Shanghai Securities News" published a front-page figure the name of the Prime Minister on the current economic trends to determine the effect that: to continue to strengthen and improve macro-control, effectively prevent the overheating of economic growth shifted from the relatively fast; adhere to the implementation of prudent fiscal policy and monetary policy, monetary policy should be stable and relatively tight for the party's 17 National Congress to create a good environment and conditions. Therefore, the current economic data has given rise to executives close attention to the action taken will be steady from the tight monetary policy. So, in line with the original intention of alleviating the central bank's next monetary policy may continue to bear, but in the hands of the tools include raising interest rates, raising the deposit reserve the abolition of interest tax, the central issue tickets. In this way, is not easy to understand graphics of today's late decline. So, investors worried that the central bank tightening has already been reflected to the disk, on how the future of the walk will depend directly on the central bank itself.
Continue to be cautious
As we predicted yesterday that investors should remain cautious operation for the afternoon of judging, and we still maintain a cautious view. From the analysis of today's disk on the broader market, after experiencing 7 Lianyang Guaitou down, pre-hot spot have been gradually depleted, and the existence of the more obvious signs of profit-taking, such as textile machinery, water environmental protection, aerospace and other sections are the end of a row a strong weakness in order to enter. Is currently before the broader market is in a digestion period of profit-plate, while in the new hot spot has not yet nurtured until the next trend will not optimistic. Cautious forecast from the macro-surface analysis, exactly corroborated our point of view. Therefore, in afternoon action, we should focus attention to high-quality blue chips. 5.30 After adjustment, the junk bond investors have been gradually withdrawing from view, while institutional investors, led by the Fund and then carry the banner of the concept of value investment companies to choose the object can only be high quality blue chips, and we should closely follow the mainstream investment philosophy, risk-controlled security investment under the premise of sharing the results. Specific individual stocks may be concerned about the Guangzhou-Shenzhen Railway (601333), was about to be transferred to the Shanghai and Shenzhen 300 index of leading the regional transport market. At present, China is the fastest running of the train and efficiency of railway transport, one of the best, the company completed the Guangzhou's rail assets and business operations after the acquisition, operation of the railways from the regional to the national backbone expansion of the field. At the same time, the company invested 4.745 billion construction of the Guangzhou-Shenzhen railway line in four April 18, 2007 up and running, will bring the company's future results of room for improvement. The secondary market, the stock pre-callback with the broader market depth increases, short-term shocks rebound showing the trend may be due attention to the afternoon bargain-hunting.
