Category: Money tips Release Date: 2007-07-06
Source: China Securities News Author: Xu Hui
Since mid-May, the market began to change the trend of the previous short squeeze up to start within a narrow range. In the last four trading days, the market out of an obvious Suliang rebound of the stock market, stock index closed Tuesday near previous highs, but the cities of turnover from the previous month decline in four days into. How do I view the market in 1650 near the Su Liang rebound be made?
Su Liang clear tape
Looking at the market volatility since the middle of this month, Su Liang consolidation trend are obvious. In general terms, the market rebounded Suliang appeared the following characteristics: First, high turnover steadily diminishing. 1650 has been ascribed to the market this month, the three regions, turnover volume from 89 billion yuan fell to 69.3 billion yuan of history days and then to 53 billion yuan. Second, the rebound from the recent 4-day view, week, two rising process, the Shanghai stock market turnover has only a 8.8% increase compared with Monday. Third, from the annual running of the situation, the current cities of more than 50 billion yuan of turnover is still at the higher position. In other words, if the market mood steady decline in turnover in space and there may be.
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Su Liang continuous adjustment of the market, or for some profit out of funds, temporarily watching; or suspended due to the pace of incremental funding approach. No matter what the reason, I think that one contains some of the investors in the market valuation of the situation and short-term operating concerns.
First, the valuation of structural concerns. In fact, the majority of mainstream institutions basically agrees with the current value-based factors, restorative rally has ended. SSE 180 Index now trades at 19 times and Shenzhen 100 Index price-earnings ratio of 20 times, value and price shape matching; the same time, low-profit shares, subject shares, a loss of stock was significantly overvalued. In other words, blue-chip return to basic values, and the non-blue-chips have been overestimated.
Second, we can not simply push the current capital funding in 2000 Quotes push Quotes compared. First, money-driven Quotes caused huge losses, making investors more mature; Second, in the context of international funds to promote the internationalization of Quotes are subject to the constraints of the valuation; three fundamental factors that do not support the theme of excessive stocks up l.
Third, the international market fluctuations will affect the operation of A-share market. The recent international financial markets, marked fluctuations, if the external market continues to adjust to the A-share market as a whole is bound to be adversely affected.
A stock can still be optimistic about the long-term
Speaking to investors should be careful analysis of the market rebound in the deep meaning of Su Liang.
First of all, calm the market is conducive to long-term development. Rebound Su Liang explains some investors began to think calmly, market speculation of the composition will be relatively reduced, and rational investment component will gradually increase, which is conducive to long-term growth market.
Second, from a historical look to the future not support the current market continues to contract research. From the previous days the amount of after-market Suliang situation, most of the time the market will continue to adjust, not even rule out the adjustment exceeded expectations. Therefore, the turnover of 500 billion yuan in the amount of short-term maintenance of the market in 1630 near the shock can still be, in order to re-launch the attack on the 1,800-point mark, the existence of a larger more difficult.
Third, structural adjustment is bound to come. We are A-share market long-term development to hold quite positive views, but also for ports, roads, real estate, banking, valuation of oil and other industries remained fairly positive view of the situation; however, is also undeniable that the current low-profit market segments Unit, the subject shares, ST shares valued position is worrying, structural adjustment in the second half will inevitably have to come.
From the long-term and strategic perspective, A part of the blue-chip stocks in the investment value of doubt, we are bullish A-share market long-term prospects, however, does not mean the market has long been optimistic about the short-term or short-term adjustment does not appear, at least for gains may be more ease is difficult to reproduce the previous short squeeze Quotes.
