Category: Money tips Release Date: 2007-07-26
Source: China Securities Journal
Ministry of Finance announced it would issue 1.55 trillion special treasury bonds, even though no implicit or one-off release issued in batches, but as a foreign exchange investment company's capital, they would not drag on for a three-five set will always be an effective form a tighter liquidity The role of liquidity. If it is primarily to general corporate and individual hair, its funds on the stock market could impact the stock market is great; if it is issued to financial institutions, funds on the stock market may be entering the market impact is greater; while the central bank's hair, then the less affected. But in any case, according to financial expert analysis, siphoned so much money is also equivalent to the last rate increase by the central bank deposit reserve ratio 10 times, after all, will effectively reduce the excess liquidity in the economic field the status quo, but also, after all, can get into the stock market affects the amount of money!
There is the possibility of cancellation or half interest tax in June after the release of CPI data on a possible rate hike, QDII will sooner or later, after scaling divert a portion of A-share market funds ... ... In short, the money supply situation in the stock market suddenly became critical. At the same time is the stock market and the size distribution was experiencing incremental growth, particularly in the stock market, the size of the non-lifting of the ban in July the amount of not more than 500 billion yuan more than in August, but will reach more than 1100 billion yuan in October again will create more than 2,500 billion yuan ... ... unilateral rise in the stock market, the size of the non-small holdings; once a period of adjustment, the amount of reduction will certainly increase; and occurs if the broader market plunge and the weak rebound in the size of non-ex - will be more choice of pocket for security. Because no matter what point and the size of the non-reduction There are still several times the number of times as well as the windfall profits!
But I still think this market is still bullish, this bull market shocks or shocks, and its vibration is difficult to track over the next low last fall. Because the majority of a second-tier blue-chip price has entered the value of the region, especially in mid-year report soon, as of this week, three 501's mid-year report published notice, in which one-third of the pre-increase over 50%. In 4000 dollars, excluding losses after the stock market as a whole has dropped to 41 times price-earnings ratio, if a quarterly estimates in 2007 the overall market price-earnings ratio will fall to 32-fold. This is one of the most blue chips and steel, banking, real estate, coal, electric power, nonferrous metal industry, the majority of stocks, their price-earnings ratio has dropped to 25 times the ... ... In a word, the value of the supporting role was quickly evident. Behind the stock market is not inhibited in macro-economic continues to improve, such as the size of the former May industrial profits up 42.1%. Backbone enterprises of various industries more and more into the stock market will reflect the macro-economy continues to improve, and thus the main body of this blue-chip as the absolute value of the market will definitely be showing the pillars.
However, the inevitable tightening liquidity will be the role of the stock market, that is, the stock market will no longer be available for incremental funding in June as surging as before. Incremental funding weakened, the stock of capital will begin restructuring. So how will adjustments? Conservative operation convertible objective is to those who fell, "valuation of depression" in a second-tier blue chips, such as the Industrial and Commercial Bank 5 yuan less than 13 yuan, Sinopec ... ... These are the value of rigorous basis for accusing him of the report The. It is these that can determine the index of a large number of a second-tier blue chip will shut down the broader market space to slow down the pace of the bull market to adjust the consolidation of a solid, the most re-open late four-quarter rise in value as the support Quotes.
The shock of the moment is the central value of the reshuffle, while the rise in the future, support will be based on the value of health promotion
