Market from the new high and only a step away, hit a new high is expected to do. Current investors puzzled that the new bull market, where high goals, many stock prices are not low, and what varieties have large room for growth.
many blue chips mostly in the first half of this year, rising or steady state of poised, after a sharp advance by semi-annual results, directly and effectively pulled down the market valuation, the current A-share market has been in dynamic valuation the relative level of a market recognized, the above card 50, for example, the dynamic price-earnings ratio in 2007 was only 28.8 times. Since this year due to the macro-context of ample liquidity, low deposit rates and the effect of fund money to attract incremental funding continued Chung income, promote the rapid decline in the equity risk premium, and promote the value of the stock market is back from the stage into the harmony of the bull market.
the area near the current 4,000, some financial concerns are top of the region, and not large-scale approach. But statistics show that since May 30 since the index started on the eve of last week, the market has gone through two rounds of sharp plunge, many do not stock performance is the lack of growth fell off down the middle, but there are more than 160 shares is not fall rises, most of which is to Yangtze Power, China Merchants Bank, Vanke, China Ping An, Xishan Coal and Electricity, China Life and other blue chips, while the broader market soared in recent days a new high almost in sight to the big funds that attract blue chips, such contrarian act of buying the harvest has already begun, even in these species continue to record high, and this is big money optimistic and positive performance. This shows that, far from the current 4335 points to the top of the bull market area.
according to relevant national policies to expand domestic demand is the future direction of China's economic development, consumption, stimulating effect on the economy will be further enhanced. With the rapid growth of foreign exchange reserves, the theme will continue, RMB appreciation will further stimulate domestic asset prices. China's economic development has entered a stage of stable growth, investment, consumption, exports are showing growth. share the smooth progress of reform, reconstruction of the A-share market micro-foundation for the growth of listed companies to provide the intrinsic motivation, the overall results of operations have a more substantial increase, as rising stock prices provide a strong support, but also the A-share market to further improve the investment environment. current market funds face relatively abundant, investor confidence restored, and the continuation of the expected appreciation of the renminbi, A share market is still bullish tone established. a good macro environment, there will be more competitive with a core large cap blue chip companies emerge, there will be a rising stock price.
we think, A-share market reaches extreme prosperity, and build before the big top, the volatility of external markets, and administrative control are insufficient to reverse the upward trend in A shares, bringing the stage would be buying opportunity. The current position of the vertex from A sign stock boom is still a considerable distance. an institution to that theory and historical experience, the following signs occur, it means the end of prosperity: economic stall than expected; inflation rise (difference between China and the United States, the difference); valuation seriously over-estimated ; bubble formation in the profitability of the company announced a serious discrepancy with the real profits, and ultimately result in a major scandal, the iconic company.
Needless to say, since large organizations Jiancang large blue chip funds, then the future of these species to be Daniel Shares of the cradle. In the medium term, there is the expected high growth performance of the large blue-chip investors, the current selection is an important goal of the annual bull stock, you can expect some continued growth with a large blue-chip performance, the birth of the future will be a big hundred shares Top. such as CITIC Securities (600,030) and some other benefits of the bull market and the RMB appreciation, the absolute core competence industry leaders, as Maotai, Hudong Heavy Type hundred large Ushimata, only just a matter of the length of time . Thus, in operation and patience to capture a substantial increase in space, holding a large blue-chip quality, and even the next two years as investors currently the most important band operation.
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