Category: Money Tips Date: 2006-12-02
Currently on the market right margin trading, new from the old differ greatly. But it is undeniable that the expansion of the negative impact of short-term market is real.
First, the expansion will have a "crowding out", institutions in all sectors of the asset allocation ratio is certain, the new high-quality listed companies, institutional investors are likely to throw the "old" buy "new" initial public offering of old shares of the impact of is inevitable. Secondly, there will be risk-free profit opportunities for strategic investments. Historically, institutions keen to act as strategic investors to participate in IPO, such as Yangtze Power, Baosteel, China Merchants Bank IPO gave broad market such as strategic investors, creating a substantial return on investment. Agency by virtue of its strategic investors, the advantages, we can get risk-free strategy for profitable opportunities, they may be part of the funds set aside earlier to wait for open positions, or the Nuggets this historic opportunity. Therefore, we believe that resumption of IPO may still be induced trigger callback.
Cumulative gains as investors reduced holdings of major strategic advantage and valuation of stocks and gradually subsiding after the plate and can continue to take defensive investment strategy, is currently available to increase the concern of the following sections: First, the steel plate. A quarter of the domestic steel prices have bottomed out, the international steel market, the recent apparent supply shortages. With the increased growth of exports and domestic market, strong demand, panel prices have soared. We believe that steel prices will remain high in the first half, in January 2006 the steel industry, low profits. 2 with the international average valuations compared to the level, the majority of domestic steel companies of less than 1 times book value, at present there are still significant price the value of mergers and acquisitions. The new rural construction on the relevant cement, steel and other industries driving role will be very obvious that the steel industry is expected to improve long-term investment value, investors may be concerned about the G Baosteel, G Anshan, G Wuhan, G Handan Iron and Steel.
Second, the highway section. With the internal and external trade continued to grow strongly, we expect the future highway and other transportation infrastructure needs will maintain steady growth. And because transportation infrastructure has a unique geographical monopoly characteristics, their future levels of capacity utilization and rates can be kept relatively stable. Can focus on G Shengao Su, Jiangxi Guangdong Provincial Expressway Development, Fujian, high-speed and so on.
3 is a paper plate. Domestic paper company listed in Hong Kong up to 18 times earnings, the present paper-making enterprise valuation A shares less than 10 times, far lower than Hong Kong, the United States, the market average. Although the RMB appreciation is also bullish on paper constitute the support, but paper plates are obviously lagged behind the performance is expected to appear compensatory growth Quotes. G may be concerned about China and Thailand, G Chenming.
