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Data:2009-12-12 2:34
A recent stock market volatility wide trend last Friday's Shanghai Composite is plunged 102 points, thus making the industry have speculated whether the adjustment the arrival of large level? So the impact on investors in A-share market this week to determine and investment ideas.
Overestimated the market for undervalued stocks
For the A-share market, the current really is not too cheap, there are policy analysts report that, if the forecast 2006 earnings projections, then in Shanghai and Shenzhen 300 has reached 26 times the average price-earnings ratio, although higher than in 2001 when the high point of 2245 more than 60 times earnings, compared, and is not overvalued. but the problem is the A-share market valuation of stocks of large state-owned enterprises have been larger than the H shares have a premium, Sinopec, China Life, Bank of China, Industrial and Commercial Bank Dengjun so . Such factors, coupled with 2668 points, the index point and really feel anything for him so that investors panic. What's more, A-share market increasingly international, such as the introduction of QFII, while foreign funds, domestic funds overseas investment channels, such as QDII are in full swing, so, large-scale state-owned shares of A-shares over H shares of stock In fact, a higher premium on the show that the A-share market is facing pressure from callback.
However, past experience has shown that do not represent the market's overestimation of the overestimate of all stocks, because the fundamentals of individual stocks change is the ever-changing, for example, earlier this year was not too optimistic about the market, B-shares, in the last week 4, last Friday appeared blowout market, and then such as COSCO Shipping, China Air and other shipping stocks, in a recent trend is strong, why not? Is mainly because the market of new information shows that the valuation of these stocks have been undervalued in the clear state, B shares B shares undervalued mainly a way out, B shares of the stock of hot money such as a catalyst to strengthen the recognition of the B shares undervalued, China Air China, Air China COSCO shipping moving stocks surge as oil prices plunge while demonstrating the valuation of these stocks remains low. Therefore, in the current disk, the overestimation of the market or has been overvalued compared with H shares market, there are still a lot of undervalued stocks, both the current A-share market continued to hope for the future of the bull market, and also the current market participants an important haven Bay, for rational investors, and will not over-emphasis on the broader market wide shocks, but shock width is able to quickly find undervalued stocks, then buy and hold, until the share price reflects the fundamentals before considering a sale of the evolution of the trend.
Two paths to find undervalued stocks
More importantly, because H-shares over the weekend to stabilize the decline stopped and the disk over the weekend did not appear the more deterioration in fundamentals, so this week's A-share market is likely rebound trend, therefore, the low valuation As the stock prices of the stocks are expected to stabilize the sharp rebound in trend. Therefore, in the present context, investors can find the current valuation is still low on variety.
Thinking in this manner, I believe that so two paths, one from the private placement and other public information to look for in 2007 brought rapid growth performance of the low valuation of stock prices, for example, on the Zinc Industry, said, "the spirit of prudence principle, the company expects in 2006 from January to December main business income of 6.55923 billion yuan, net profit of 207.95 million yuan, 2007, from January to December main business income of 10.14256 billion yuan, net profit of 719.29 million yuan. " Yet even though the company's total share capital after the private placement is also but only 141,013 shares, so the projected 2007 earnings per share is 0.51 yuan, while the current stock price but only 5.95 yuan, and so is easy to see, the stock's undervalued . Similar to the stocks are still S Sky, cloud-dimensional shares, textile city, your research and other public information in the platinum industry, both on the 2007 forecast, or promise the performance of information, there is still a tendency to underestimate the current stock price, we recommend investors to pay close attention.
The second is the secondary market after the revaluation the valuation price significantly undervalued species. For example, the recent sharp rally in Shaanxi liberation of a large number of quality assets because of its stake, there are industry analysts studies have reported that the revaluation of assets valued at more than 20 RMB / unit, even under the current assets of the profitability of speculation, the stock's reasonable position in 2007 are 11 yuan, in 2008 a reasonable position at 13 yuan, 7.78 yuan against the current market price, then the current stock price is undervalued? Another example part of the high-quality B shares, control of its A shares or A shares the same industry can still be relatively clear to assume that out of the current number of B shares is more undervalued, such as the East Electric B, Park B, etc., in which Metro B, Pre-collection and other financial data show that the performance of the Unit in 2007 will significantly increase the current low B shares is expected to become the leading shares of the new Quotes. In addition, Jinyu Group, Chengxing shares, Sunward Intelligent and so in 2007 the relative performance of growth stocks obviously, but also an active interest in, or hold.
