Category: Money tips Release Date: 2006-07-26
Source: Galaxy Securities Author: Wei Zhihua
Weekly commentary last week, I pointed out that the market index will remain a long-term rise in broader market this week once again full of daring, the Shanghai Composite hit 2275 points, a record high Friday, interestingly, in the process of innovation and high, and there is no obvious deliberate lift characteristics, which has further enhanced the A-share market bull market expectations. Even the recent broad market highs of the new fund is mainly triggered by the active configuration position to do more power due to, in particular the present valuations are reasonable second-line blue chips, the industry is relatively optimistic about the prospects, so a new object of the Fund's active configuration, two class on the market buying these stocks increased sharply, forming a record A-share market the main driving force. In the current point position, institutional funds have experienced substantial changes in thinking, on the one hand no longer "conspiracy" pushing a particular individual stocks, which continued to rise in the lack of blow-style do more passion, the other is the institutional financial Jiancang is not a big Pen pay boost, but slowly sub-warehouse configuration, allowing the progressive nature of the market than the last bull market in less obvious, but buying power is still raging, the tape is still able to continue in a calm record high.
A new high after the go? Of course, there is still a new high after new high, but how to interpret, then there exists a certain amount of differences, is to continue to extend the current channel or a shock rise in its own run back to try to confirm the validity of a breakthrough all-time high it? In this regard, I believe that the probability of the former larger, mainly because of two factors, first, because the current configuration of the new fund-type Jiancang has become the market mainstream, and because the amount of Shanghai stock market can be in the innovation process is not high substantially larger, indicating the new fund Jiancang is slow, there has been no type of Jiancang give it everything, so it means the configuration of the new fund is a slow-release type Jiancang kinetic energy is lingering while the intensity, which is more conducive to A The upward trend in share market. Second, because the trend of appreciation of the renminbi in the near future is still strong, the RMB exchange rate re-break the middle of a crucial point in 7.82, and then a new high since the foreign exchange reform. The trend of RMB appreciation not only bring capital surface flush with cash, but also do more to bring a direct kinetic energy, which means that banking stocks, real estate stocks will not be a sudden release of kinetic energy to do more, then the bank shares with a strong trend in the re - not only that, the Shanghai Composite down trend would be difficult to occur. RMB appreciation not stop, more than the broader market Quotes. Therefore, it is hard for broader market down trend, it is highly likely to continue to shock its own run.
As for the mainstream market outlook are mainly two types of stocks, one second-line blue-chip investment themes, more typical of commercial chains, wine and food, the theme remains the consumer as the core. Second, the new generation of strong stocks, mainly in auto stocks, as well as small plates of new shares based on the theme lies in the performance of high-speed growth in 2007, auto stocks impetus for economic growth lies in the export market, while the growth of new shares is the fund-raising project momentum. Another individual stocks across the board to start Friday Tsinghua University, which also should pay attention to. Zhongguancun, a high-quality resources in high density areas, "knowledge home" crowd in the pace of development is very alarming, demand for office space is hungry, priced at 13,000 yuan / �around. Tsinghua direct descendant Enterprise Chengzhigufen (000.99 thousand) in Beijing has a large research base and commercial property, independent innovation in the construction of the main building was the Tsinghua Science Park, a park's first single building, is located outside the East Gate of Tsinghua University is a 5A type Foreign high-grade office buildings, completed in 2002, when the Beijing property market has not "Start", land prices in Tsinghua University, the construction cost is very low, this building with a total construction area of 59208 � underground 3 floors, 17 floors above ground height, 340 parking spaces 5A intelligent commercial "Innovation Tower", it is net book value of 237 million, only 4,000 yuan / � while Zhongguancun office market reached 13,000 yuan / � which means that new buildings have this building appreciation of 5 billion yuan and innovative building has now been Chengzhigufen for rent, monthly rent an impressive 171 yuan / � the national office super-class. Chengzhigufen also innovative building next to the building on the same side with six or seven whole layer of property rights, high-priced leased to IT companies, which two million in 1519, net property rental income last year, the net charge of up to 7.28 million yuan, the return the rate of nearly 50%, if the rent by a decade back to this calculation, the minimum value of 72.8 million yuan, value-added more than 57 million yuan.
Chengzhigufen appreciation of the IT office premises huge Tsinghua Holdings, according to the deployment of Chengzhigufen will be all out of information technology industry, together with the Beijing Union Medical College Hospital, to acquisitions, mergers and incremental approach in the hospital for control of the area, then if Zhongguancun IT office to sell their property, is expected to profit 500 million yuan from top to bottom, equivalent to about 2 yuan per share. Additionally, the company planning to build "Olympic hospital" Beijing Union Medical Center, the project has been officially approved by the Beijing Municipal Health Bureau, the 2008 Olympic Games is expected to provide effective medical care and services. "Beijing Union Medical Center" by a general hospital and six specialist treatment centers, the planned total beds up to 2000, will be fully mechanized integrated set of medical professionals, teaching, research, production as one of the large medical centers, including the International Doping Testing Center, International Medical Emergency Center, the international pharmaceutical clinical trials center, 2000-bed hospital in the country the size of the hospital is part of the top. With the Beijing Union Medical College Hospital and its sub-specialty hospital was officially incorporated into the Department of Medicine, Tsinghua University, Chengzhigufen more can be justifiably and Beijing Union Medical College Hospital opened throughout the country, branch, this year co-operation with the Beijing Union Medical College Hospital First Hospital of Dandong City, which the company's access to medical and health industry, an important measure, mid-year report disclosed that the company has entered a benign operation. Chengzhigufen to create first-class "Olympic hospitals", hit create first-class hospital investment and management group, while the company owned by two IT innovation and building office properties and the same side buildings six, seven total appreciation of 5 billion yuan, equivalent to a share returns 2 yuan, the unit is still in the bottom of the seriously lagging behind the big city, afternoon deserves greater attention.
