Category: Money tips Release Date: 2006-07-17
CITIC Securities Research Institute recently released investment strategy report said 5-6 months, despite remain optimistic about the long-term A-share market, the recent market rise also has the fundamentals support, but the need for the current main factors driving the market to re-read, and suggest that investors A share of structural adjustment in order to respond to changes in market trends.
The report holds that the constant increase in analyst earnings forecasts has basically reflected in stock prices, the expected performance is no longer a major factor in support of future increases; H shares of its own in a more vulnerable position, its pulling effect of A shares may be from the front turned negative; awash with liquidity, is also promoting an important factor in the recent stock price up, while the flow of tightening may affect the future market of the macro-surface. Therefore, it is necessary to maintain a cautious attitude on the future market.
Accumulated gains in the market and the large majority of the main varieties have been 30% -50% rise of the circumstances, CITIC Securities that choose the cash advance is a wise choice to achieve a profit, in order to follow-up to a possible 10% -15% of the rise in the risk too high large risks not worth it. Choice in the industry, in addition to continue to focus on good fundamentals and growth of the high rate of plate (such as banking, retail, power equipment, etc.), should be added to the defensive front plate and the plate or not the configuration, such as roads, etc., and attention electric power, petrochemical, and other sections of the event-driven opportunities exist, such as resource price reform and the coal linkage. In addition, the increasingly close to the second half of the "new old" will provide investors with new investment opportunities.
CITIC Securities is expected to stocks in 5,6 month will start to adjust, it is proposed to actively pre-configured or over-little out of the business cycle, with good growth at the bottom of the industry and companies. In particular, banking, food and beverage, petroleum, petrochemical, transportation and the implementation of over strategy; slow down your computer appliance, the configuration of the airport route, the rest of the industry remained neutral configuration.
