Category: Money Tips Date: 2006-08-07
After five months of the reform is not even advance to the surface from the pilot rolled out in Shanghai and Shenzhen G Unit, Corps, from the initial 4 has been increased to 118. Quietly between the market in the completion of the change from quantity to quality, G Unit, changes in the market in the interpretation of the ebb and flow of history, investors are also participating in the reform of the experience of experiencing the joy of joys and sorrows. From the beginning of the smell "G" fell to after "treasure hunt" to the pre-G Unit, the right of universal paste, G Unit, new road was not smooth.
This week, depressed for a long time active G-Unit again. Wednesday welcomed the recent G Unit plate rare full broad based: 4 G Unit sealed limit-emergence of a large number of G Unit, or table in the forefront. G-forgotten once the market shares of plate, a time and money chasing a hot spot. However, the next two days, G Unit's performance unsatisfactory, so that the future of G Unit, they re-appear confusing. Then, G Unit, transaction whether it is the beginning of a rebound or a warm-up are eager for?
Small short-term capital ambush G Unit
Wednesday at the forefront of G-Unit, or the basic flow of the market value is too small to medium and small board dominated G shares, of which 10 G Unit turnover rate over 10%. Small Cap G Unit collective up, they clearly show that the short-term funding is still eager for the venue, on the other hand also shows that large-scale organizations is also reluctant to shot. In the New Year approaching, the money is not enough sufficient circumstances, small-cap varieties are often short-term speculative forces to focus on the object, but yesterday, small-cap stocks suddenly G force, indicating that the main venue, following Baosteel warrants, closed-end funds, the short-term has a new target of an ambush. Although the G Unit's overall strength has driven small plates suspects, but the whole market funds to G Unit focused on the fact that very clear. As the market such important weathervane, G Unit, is expected to greatly enhance the overall strength of market sentiment. However, like the G long electric, G Baosteel, G, on Hong Kong, G people's livelihood and other large species can form a significant market strength is the strength G shares the key to whether the plate.
Displayed in three quarterly information to the more bullish G Unit reasons. G shares the general weakness and its sharp contrast to the performance of impressive. 3 Quarterly shown that the present Bianshen G Unit hundred companies, more than 0.20 yuan per share accounted for 66% year on year net profit to grow more than 70 percent, an increase of more than 50% have 17, over the same period all the A shares of these two figures were 27.7% and 51.8%, we can see, G Unit, profitability was significantly higher than the market average.
However, due to macro-economic outlook uncertain and speculative capital stock reform led to the continued adjustment of arbitrage, many G Unit extreme reactions occurred, the overall valuation down to a lower level. With three quarterly earnings per share and yesterday's closing prices, the price-earnings ratio below 15 times the G-Unit abound underestimate the space more obvious, which means that the next speculative bubble in share reform has been basically ruled out, G Unit continues to decrease the possibility of deep sites not. If there are policies that have contributed with the market environment, G Unit, the band also is prone to rebound.
Institutional investors, targeting fighters
Split share structure reform is giving the market will be the strategic investment opportunities, institutional funds will not miss the boat. Funds, social security, and the third quarter of QFII portfolios they clearly show that a variety of primary and secondary market institutions Masukura direction, the fine texture of G-Unit is an investment fund favored objects, some institutional investors in the third quarter to change the active Masukura stock shares, especially the QFII 3 Quarterly strategic Masukura share reform stocks phenomenon is very obvious in the third quarter a total of Masukura 2.91 shares Masukura rate reached 104.30%. QFII A total of 39 shares of reform in the company's list of top ten shareholders, appeared 60 times, QFII stock shares changed positions more than 50%. G Shenergy, G SAIC, G Longsheng, G Liao Tung, G livelihood, G 3, G Tianwei, Fengyuan Biochemical, such as the United States massive holdings of G and G Shenergy people's livelihood, small and medium plate G-Hite, G Seiko, G Lijiang, G Hedy, Denghai kinds of industries. Similarly, the social security fund in the third quarter Masukura share reform shares, the number of its holdings by the end of the second quarter to 1.9 million shares to 300 million shares, such as overweight G Hite, G force, G Shun Xin, etc.. And the fund for some blue chip stocks increases and decreases in G, but G livelihood, G Pearl, G Tianwei were Masukura operation.
Based on the economic slowdown and declining corporate profits expected in the third quarter select individual stocks with institutional regimes. Social security funds and stock selection in a planned manner to reduce the value from a number of periodic large cap blue-chip stocks to withdraw gradually holdings Masukura new energy, new materials, science network has a growth potential in small-cap stocks, such as the G Tianwei, G Fengyuan. Accept much in the small-cap stocks QFII trend, the proportion of the third quarter of QFII holdings of the largest is Jinxi Axle, Lan Tai Industrial Co., and Tung-Wei Liu Tongpan shares also were below 4,000 million shares. The intersection between the QFII Masukura more Guangzhou Pharmaceutical Company, Nanning Sugar and Golden Eagle shares Liutong Pan for less than 1 million.
Small plates into the breach
The highest level in the active small-cap stocks in G, then the performance of small and medium plate more prominent.
The difference is that with the other plates, small and medium board has all the operations carried out share reform, with Friday's resumption G Huaxiang transaction, the SME board has completed almost three quarters of the share reform tasks, in fact, the remaining 13 non-G Unit companies are already into the share reform process, the SME board full completion of share reform is not far off. For the week, the performance of the SME board of view, on the whole there have been a certain degree of rebound, but the intraday performance of individual stocks there is still some differentiation, through stock reform, the so-called speculative stock reform will become history, and more should be will gradually shift the value of assessment î–?with the re-issuance of new shares, the market price will naturally be re-arranged.
Why choose a market capitalization of small plates as a breakthrough in direction? In addition to the aforementioned small plates among the first to complete share reform factors, in fact small and medium boards also have their own advantages, mainly in two aspects �one small plate material is relatively fine, many medium and small plate companies are leading their respective industry segments, strong profitability, future growth well, and the small plate on the price of the company's programs are also relatively generous, after the implementation of the price of the stock left a huge gap in the circulation size and earnings per share unchanged, small and medium plate price-earnings ratio stocks highlights the dramatic lowering of the intrinsic value of investments will naturally get a floating capital or investment funds, the focus of attention gradually expand its share price volatility is a reasonable choice Tianquan Quotes �The second is the flow of small and medium board's relatively small size, in the current market capitalization of the premise of the limited Under the scale of small-cap funds more readily available species rather inclined to show greater activity, coupled with good fundamentals support, fund operation and more readily available to respond to the market.
The center line of thinking response to small and medium varieties
Since the formation of G Unit blocks of time is relatively short, G-cap stocks and the entire tape exactly what kind of inherent existence, but also the lack of adequate data to study. However, from the G Unit's rally, we still give a lot of inspiration. Market analysts believe that from the operational level, said î–? G Unit, the lack of further subjects, but as time goes by, their endogenous expansion of the pressure increasing at the same time in accordance with relevant policies, G Unit, also have the opportunity to restore an earlier refinancing, extension of expansion began. Therefore, G Unit, once completed share reform has become a real G-Unit, it is inevitable there will be some funds out of chase themes. G shares fell the previous period, and this factor partial correlation. However, G shares fell to a certain extent began to climb after the rebound, and the contrarian up, it shows that the company's value in show of force.
When the G Unit, the average price-earnings ratio has fallen to about 10 times, but also a considerable number of G shares fell below the net assets, to a certain extent, prompted the market continued to fall short of the limited space. G Unit the case, other non-G stocks should be said that there were parallels. This is not only because of the future shares of all listed companies should be changed to G Unit, the more important because of the current low prices of non-G stocks, stock prices will continue to change after the lower price rigid rules would work. Therefore, from the G Unit Quotes active, people can actually see the market's adjustment of limited space.
The G Unit Quotes is more like a warm-up, market analysts believe that the latter part of G-Unit î–?opportunities exist in the following G stocks, one has to join the new G Unit, the second is about to join the recent primary and secondary panels and for high-quality primary and secondary î–?Plate varieties should be in order to correspond to the center line of thinking.
