Category: Money tips Release Date: 2007-07-28
Source: National Securities Author: Tang Zhen-Bin
Narrow tape yesterday, finishing in Shanghai and Shenzhen, Shanghai stock market in the financial, non-ferrous metals, sub-IPO plates, driven by relatively strong trend, the closing session closed out the bald-headed little Yang Xian, and hit a 30-day moving average, the trend seems to be a breakthrough. Disk stocks have also been active in the two cities a total of eight daily limit of non-ST stocks, Stock Change ratio of approximately 3:1, multi-account for a large advantage. But the two cities has been shrinking volume, and scattered hot spots, an indication of energy to do more, watch more doctrinal atmosphere. Therefore, the expected short-term broad market will continue to maintain the shock in 1600, finishing near, there is some upside momentum, but not much room. From a longer time to read, comprehensive variety of factors to consider medium-term trend is expected to continue to maintain a balance pattern.
1, the accumulated broad market over the past year or more, even if the opening of this year points-bit computing, the year also rose 50%, ranking first in the world's major stock markets. Investors cash part of the profits chips, to position a strong desire to structural adjustment. The main body also intends to maintain a relatively stable market situation.
2, the recent short-term stabilized broad market, the market seems to have digested the bad news of the central bank raising interest rates, but because of yuan appreciation is expected to remain strong, excessive money and credit, investment growth remains high, increasing pressure on prices and other factors, in the second half the arduous task of macroeconomic regulation and control, the macro environment is not clearly regulated upstream index space.
3, Sinopec share reform period, the broader market lost an important indicator of wind direction. Though
Bank of China listing, Sinopec lowered the second-largest heavyweight, but its market impact is still significant, but there are many associated with its subsidiary companies. At present, Sinopec's share reform program and integration of the program has not been announced, the market is still concerned about the impact of its programs. The Bank of China, Air China and other newly listed large cap stocks are still looking for market position.
4, although a lot of outside funding, but separate ways the main body of the divergence of the second half of the stock market. This two-day semi-annual report released by the fund, the fund managers generally agreed that faces the second half of A-share market policy, market environment, there have been subtle changes in investment operations will face even greater challenges. Thus, while external funds are sufficient, but the stock market are more cautious. Recent data show that the new Fund's positions are relatively low, relatively steady pace Jiancang is evident.
5, the performance of listed companies subject to the final clear mid-year report. So far, 3 / 4 or so listed companies reported a semi-annual report, according to statistics, the results were essentially unchanged from a year earlier. But the underperformance Unit and the "land mines" shares are often disclosed in the final time. Investors the company has not disclosed more cautious mid-year report.
6, new stock issue, re-financing and "small non-" big pressure on lifting of the ban. As previously suspended the financing function of the stock market more than a year, so the second half of the "compensation" heavy task, the actual amount of the financing is expected to be substantially higher than the previous number. The "small non-" the lifting of the ban also caused a greater flow of psychological pressure, such as the G's second-largest shareholder of the Hang Seng negotiable within a half a month after the holdings of 289 million shares (accounting for 2% of the total share capital).
7, in the first half of the broad based, Quotes, most plates are impressive gains, stocks, and asset revaluation changes can the factors that have basically been released, while the performance of listed companies have failed to achieve promotion, affecting the development of sustainable Quotes sex. Investors have produced a certain amount of Shenmeipilao, needed a break nursed back to health for some time, reflected in the disk that is traded on the shrinking of the amount can be decreased.
8, as in the first half of the stock market beyond the majority of people's expectations, many of the main sector has been substantially completed a year ahead of schedule to determine the profitability indicators, they need to meet part of the profits realized. Moreover, they are in the rest of this year to continue the momentum up enough to do, just for next year's investment in preparedness.
