Category: Money tips Release Date: 2006-11-15
2006 has already begun, in an unprecedented split share structure reform started, in many people's concern, "Company Law", "Securities Law" changes, in 2006 destined to be great changes in China's stock market year. The industry thought that this year the first batch of tradable share reform after the stock market in the year, the new "Securities Law", "Company Law" to suspend for a long time after the first batch of enterprises will start the IPO, shares in some blue chip companies returnees around the corner, 10 15 after China's economic structure and how to adjust and to what extent these will impact on the stock market? The markets are facing in 2006 what the opportunities and challenges?
With the above problems, this newspaper right, including the Easy Fonda Fund, the Guangdong Development Fund, the Bank of Communications Schroder Fund, the construction of the letter fund, Yinhua Fund Dacheng Fund six more influential in the industry in the investment fund companies, research responsible person interviews were conducted and investigation.
Deputy General Manager Lycopodium Eagle Yinhua Fund
Mergers and acquisitions, industry consolidation will become an important investment opportunities in 2006, the restructuring of central enterprises, Sinopec, China aluminum Bailian privatization opportunities and the chances of rehabilitation will become a hot spot for investment. After the reorganization of the oil, CNOOC and other overseas listed companies, if they can return to A shares, will be to a certain extent to enhance the overall quality of A-share market, for investors to bring more and better investment opportunities.
Fonda, deputy general manager of the fund Yi Zuo-Liang Jiang
A-share market has been bullish and China's macro-economy, the stock market is more exciting in 2006, fund companies are more concerned about their own quality, desalination industries; 2006 Fund, a high degree of focus on innovation, including market innovation, system innovation, and a new source of profit, which will bring new opportunities.
Zhu Ping, director of Guangdong Development Fund Investment
A-share market at historically low, the present situation is that investment opportunities, but the Fund on hand insufficient funds. Capital markets have always welcomed the excellent listing of resources, expansion is a good thing, care ZTE, Huawei and other companies move toward internationalization of the story, hoping there are many good companies in the domestic market.
Bank of Communications Schroder Fund Manager Feng Zhao
China's capital market is facing a historic change in the conduct of full circulation, large shareholders into the secondary market, QFII, foreign investors on the A-share market participation, financial innovation and deepening the further activation, IPO, refinancing recovery, the market The new structure will undergo changes in the market long-term investors to invest in new subjects, A-share market value will be reassessed.
Dacheng Fund Investment Deputy Director Shi Yonghui
Hot scene in 2006 the market, investment themes, the fund will be more active in looking for investment opportunities, to abandon the past, "total defense" passive attitude, take the initiative to find a significant market opportunities; increase in active operation, and strive to seize the investment opportunities, access to more Good to accrue earnings.
Dacheng Fund concerned about the following topics, such as the factor price adjustment, water, electricity and gas price increases opportunities, resource-based value of the products are noteworthy.
After the share reform, M & A opportunities are also cause for concern. From the perspective of industrial investment, there are a considerable number of companies have been significantly underestimated and the loss of financing function, which makes the possibility of mergers and acquisitions and privatization, increased greatly.
Construction Trust, the research team
We are cautiously optimistic about the stock market in 2006, on the one hand, macro-economic growth for the stock market will continue to provide a good foundation, but does not mean that there is an inevitable link between the two, because we still have not become the stock market barometer of macroeconomic . Bullish stock market development, mainly due to constraints of some fundamental changes in institutional factors, while monitoring the improvement of corporate governance so that advantages of significantly enhanced the attractiveness of the company.
2006 the largest expansion 90 billion
If we say that in 2006 most worried about issues that may or expansion, especially with the split share structure reform process forward, the market's growing expectations of a strong expansion. To talk about the past, expansion, refinancing and discoloration, but this year, the expansion pressure is more from a simple financing to expand into two levels: first, the stock was changed to a certain degree, suspended for one year to resume issuance of new shares, two, starting this year, G Unit, the original non-tradable shares after another end of the lock-up period, and traded.
Yinhua Fund Deputy General Manager of Lycopodium eagle analysis, issuing new shares, refinancing suspended more than a year later, both the SFC, the Stock Exchange, or listed company, to be issuing and listing companies and securities companies and other intermediary organizations have accumulated a considerable financing needs, preliminary estimates, in 2006 refinancing and IPO probably 400-500 million. The stock reform, according to the progress of non-tradable shares in 2006 realized the theoretical maximum value of about 300-400 million, the market valued at 700-900 million, the biggest expansion of about 07,08 years will usher in the realization of the peak, the theoretical maximum value of In the 170 billion or so.
Lycopodium Eagle believes that the market expansion will create some pressure, new from the old stock market may occur during a sharp shock, but the overall point of view of its negative impact is temporary, QFII expansion, RMB appreciation expectations, businesses underestimate the value of all factors that will attract capital back to the A-share market, do not have to worry too much about the pressure for expansion.
Dacheng Fund Investment Deputy Director Shi Yonghui, said first half of 2006, new from the old, if not implemented, will draw up a timetable and implementation methods, refinancing may also be in open, new from the old formal implementation will not necessarily lead to broader market decline , depending on the size of the financing, distribution pricing, the Government has a comprehensive supporting measures; however, before the implementation of the various rumors and market speculation that could lead to market volatility, even Powei down.
Shi Yonghui told reporters that the fund is now more prepared to do in the incident, while he himself, after expansion of the new shares are optimistic about the market opportunities, the Fund will be more aggressive this year's operation, should have an open mind to seek opportunities to gradually abandon the past, "total defense" of thinking, broaden horizons, to seize new market opportunities. A total of 3 1 [2] [3]
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