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The A Share Market Continues To Rebound And The Stock Market Pattern Is Changing.
The A share market continues to rebound when p < a href= "http://www.91se91.com/news/index_cj.asp" > IPO < /a > is in the wind and investors are in a state of apprehension. On Wednesday, the Shanghai and Shenzhen stock markets opened lower and higher, and the Shanghai composite index recovered 2050 points again. < /p >
< p > at the close, Shanghai stock index closed 2054.95 points, up 0.12%; the Shenzhen composite index dropped slightly at 7340.69 points, while the gem index closed at 1367.39 points, or 1%. < /p >
< p > this is the IPO restart news, and the A share market has been trading up for second consecutive days. Investors found that in the past, IPO's "stock market" was somewhat "calm". < /p >
< p > this new IPO encounter "directional drop quasi". The hedge against IPO is undoubtedly a major reason why the market is happy. Northeast Securities (000686) analyst Shen Zhengyang said that in the context of weak economy, under the background of emphasizing steady growth, IPO's redirection and directional drop is clear about the direction of the economy, and it can better show the intention of the management's steady growth. Meanwhile, the "directional reduction" has a certain hedging effect on the stock market liquidity and the stock market's internal structure. < /p >
Less than P, however, the careful market participants still did not abandon the inquiry into the potential impact of the current IPO. From the point of view of institutions, the long-standing IPO panic seems to be weakening in this round of IPO restart. < /p >
The negative impact of P IPO opening on the market is mainly due to the pressure of financing scale on market funds. However, from the current situation, this pressure is not large. In Huaan securities analyst Yang Zongxing, IPO short-term funds face pressure is not large reason mainly from three aspects: < /p >
< p > first, the average IPO month financing will not be too large in the next two months, even the initial refinancing scale will be smaller than the previous months. According to the data, there are about 43 companies that have yet to be issued, but the total funds are estimated to be about 22 billion yuan, averaging only 11 billion yuan per month. < /p >
< p > secondly, in the 1 and February of this year, the scale of equity financing was only 670 or 15 billion 900 million yuan, with the initial 40 starting in January, and it is expected that the monthly issuance should not exceed 30 in the future, and the starting scale is less than that in January. < /p >
< p > finally, Yang Zongxing believes that < a href= "http://www.91se91.com/news/index_s.asp" > market < /a > is expected to be relatively adequate for IPO, which should not bring sudden pressure to the market funds. < /p >
< p > in addition, another analyst said that from the current market environment, the pattern of weak balance in the stock market has changed with the direction of RR and IPO's restart of boots. The sky balance is showing signs of tilting to the bulls. But whether the stock market index can continue to burst or rebound is still highly dependent on the admission of incremental funds. < /p >
< p > and IPO restart is expected to bring new capital. On the one hand, the issue of new shares is imminent, after the "zombie households" funds are expected to actively inject. The latest news shows that at least four new shares will be issued next Wednesday. Insiders said that the new listing of the new earning effect will attract and awaken some of the funds to participate in the new IPO team. The purchase of the new shares of new deal requires the old stock to be allocated. This will effectively activate the sleeping accounts in the field and enter the market of the two level, so as to stimulate the market capacity. < /p >
< p > on the other hand, not only are retail investors, but IPO has also been excited by many institutions. This undoubtedly added to the new round of IPO's restart. Chen Zhong, deputy director of Zhonghai fund research, believes that there are many favorable factors for the issuance of new shares. First, the total amount of the 100 issue in the 7 months has little impact on the market; two, the issue of IPO pricing refers to the average price earnings ratio of the two tier market of the same industry, which can effectively curb the problem of overpricing. Three, the spanfer of old shares is carried out through the way of placing the strategic investors, and the 1 year lock up period is added. < /p >
< p > so, the bad effect of IPO restart on the market has been greatly reduced. Not only that, IPO may even bring more opportunities to the market. In the view of Huaan securities, the market is expected to represent the future trend and the new market industry and companies in the case of the cyclical and structural double factors that are suppressed by the cyclical and structural factors. Therefore, the price earnings ratio of the gem and the small and medium board has continued to rise in the past year. However, the market value of the listed companies in these sectors is relatively thorough, and the profit expectations are already very high. The overall valuation level of the plate is relatively high. And IPO will bring fresh blood to the market, and can continue to tap new value for the market. < /p >
< p > it is worth noting that the gem has played a vanguard role in the wake of the IPO revival. On Tuesday, the growth enterprise market index rose by 2.05%. < /p >
< p > Ju Feng believes that although the Shanghai stock index recovered 2050 points on Wednesday, it is still hovering under the half year line and is already facing a high pressure area. The growth of gem continues to expand, indicating that the direction of structural market is in growth stocks, and the pattern of future market is expected to maintain a slight rise in the main board, while growth stocks on behalf of the growth enterprise board will rise sharply. < /p >
< p > Tianxin investment analyst Xiong Pengsheng also said that part of the new stock purchase time determines that the boots are landing, for investors, there will be a sense of relieving, reflecting on the disk is a more stable trend, even if it falls, there will not be too much panic. The stock performance in the past two days is getting better and better. This effect is mainly reflected in the growth enterprise market. On Wednesday, after the early fall of the growth enterprise board, it rose again in the afternoon and approached the half year line pass. The way of adjusting the market also revealed the current strength, plus the management bottom economy, and the rebound will gradually deepen. < /p >
< p > however, despite the heavy burden of IPO in the main board market, there is no lack of caution in the market. Insiders said that the pessimism of the recent policy facing the market has eased, but the short-term A share market is still difficult to rise systematically. It is also necessary to maintain the overall prudent defensive thinking and avoid being overtaken by the rise in intraday pulse, and the position should not be overamplified. < /p >
< p > "because of the difficulty of anticipation of systemic rise, investors still need psychological preparation for the revaluation of the index after weakening the positive stimulus effect. The short-term stress increase can be used as an optimization of the continuous structure and participation in the short wave band overfall rebound, but it is not recommended to blindly catch up." The above said. < /p >
< p > under this background, Guangzhou Bandung suggests that investors can focus on two clues. The first is in line with the reform and spanformation, the future direction of development, overfall and fall, < a href= "http://www.91se91.com/news/index_cj.asp" > funds > /a > reflect the performance of the stocks that are obviously intervened or short quilt, especially the stocks that the newspaper is expected to increase significantly. The performance share of the href= should be the key direction of the main layout in the second place, and the second is the M & a concept stocks that are in line with the reform and spanformation and have the intention of industrial capital operation. Since the beginning of the year, the number of mergers and acquisitions has increased significantly, and in 2014, it has no suspense. < /p >
< p > at the close, Shanghai stock index closed 2054.95 points, up 0.12%; the Shenzhen composite index dropped slightly at 7340.69 points, while the gem index closed at 1367.39 points, or 1%. < /p >
< p > this is the IPO restart news, and the A share market has been trading up for second consecutive days. Investors found that in the past, IPO's "stock market" was somewhat "calm". < /p >
< p > this new IPO encounter "directional drop quasi". The hedge against IPO is undoubtedly a major reason why the market is happy. Northeast Securities (000686) analyst Shen Zhengyang said that in the context of weak economy, under the background of emphasizing steady growth, IPO's redirection and directional drop is clear about the direction of the economy, and it can better show the intention of the management's steady growth. Meanwhile, the "directional reduction" has a certain hedging effect on the stock market liquidity and the stock market's internal structure. < /p >
Less than P, however, the careful market participants still did not abandon the inquiry into the potential impact of the current IPO. From the point of view of institutions, the long-standing IPO panic seems to be weakening in this round of IPO restart. < /p >
The negative impact of P IPO opening on the market is mainly due to the pressure of financing scale on market funds. However, from the current situation, this pressure is not large. In Huaan securities analyst Yang Zongxing, IPO short-term funds face pressure is not large reason mainly from three aspects: < /p >
< p > first, the average IPO month financing will not be too large in the next two months, even the initial refinancing scale will be smaller than the previous months. According to the data, there are about 43 companies that have yet to be issued, but the total funds are estimated to be about 22 billion yuan, averaging only 11 billion yuan per month. < /p >
< p > secondly, in the 1 and February of this year, the scale of equity financing was only 670 or 15 billion 900 million yuan, with the initial 40 starting in January, and it is expected that the monthly issuance should not exceed 30 in the future, and the starting scale is less than that in January. < /p >
< p > finally, Yang Zongxing believes that < a href= "http://www.91se91.com/news/index_s.asp" > market < /a > is expected to be relatively adequate for IPO, which should not bring sudden pressure to the market funds. < /p >
< p > in addition, another analyst said that from the current market environment, the pattern of weak balance in the stock market has changed with the direction of RR and IPO's restart of boots. The sky balance is showing signs of tilting to the bulls. But whether the stock market index can continue to burst or rebound is still highly dependent on the admission of incremental funds. < /p >
< p > and IPO restart is expected to bring new capital. On the one hand, the issue of new shares is imminent, after the "zombie households" funds are expected to actively inject. The latest news shows that at least four new shares will be issued next Wednesday. Insiders said that the new listing of the new earning effect will attract and awaken some of the funds to participate in the new IPO team. The purchase of the new shares of new deal requires the old stock to be allocated. This will effectively activate the sleeping accounts in the field and enter the market of the two level, so as to stimulate the market capacity. < /p >
< p > on the other hand, not only are retail investors, but IPO has also been excited by many institutions. This undoubtedly added to the new round of IPO's restart. Chen Zhong, deputy director of Zhonghai fund research, believes that there are many favorable factors for the issuance of new shares. First, the total amount of the 100 issue in the 7 months has little impact on the market; two, the issue of IPO pricing refers to the average price earnings ratio of the two tier market of the same industry, which can effectively curb the problem of overpricing. Three, the spanfer of old shares is carried out through the way of placing the strategic investors, and the 1 year lock up period is added. < /p >
< p > so, the bad effect of IPO restart on the market has been greatly reduced. Not only that, IPO may even bring more opportunities to the market. In the view of Huaan securities, the market is expected to represent the future trend and the new market industry and companies in the case of the cyclical and structural double factors that are suppressed by the cyclical and structural factors. Therefore, the price earnings ratio of the gem and the small and medium board has continued to rise in the past year. However, the market value of the listed companies in these sectors is relatively thorough, and the profit expectations are already very high. The overall valuation level of the plate is relatively high. And IPO will bring fresh blood to the market, and can continue to tap new value for the market. < /p >
< p > it is worth noting that the gem has played a vanguard role in the wake of the IPO revival. On Tuesday, the growth enterprise market index rose by 2.05%. < /p >
< p > Ju Feng believes that although the Shanghai stock index recovered 2050 points on Wednesday, it is still hovering under the half year line and is already facing a high pressure area. The growth of gem continues to expand, indicating that the direction of structural market is in growth stocks, and the pattern of future market is expected to maintain a slight rise in the main board, while growth stocks on behalf of the growth enterprise board will rise sharply. < /p >
< p > Tianxin investment analyst Xiong Pengsheng also said that part of the new stock purchase time determines that the boots are landing, for investors, there will be a sense of relieving, reflecting on the disk is a more stable trend, even if it falls, there will not be too much panic. The stock performance in the past two days is getting better and better. This effect is mainly reflected in the growth enterprise market. On Wednesday, after the early fall of the growth enterprise board, it rose again in the afternoon and approached the half year line pass. The way of adjusting the market also revealed the current strength, plus the management bottom economy, and the rebound will gradually deepen. < /p >
< p > however, despite the heavy burden of IPO in the main board market, there is no lack of caution in the market. Insiders said that the pessimism of the recent policy facing the market has eased, but the short-term A share market is still difficult to rise systematically. It is also necessary to maintain the overall prudent defensive thinking and avoid being overtaken by the rise in intraday pulse, and the position should not be overamplified. < /p >
< p > "because of the difficulty of anticipation of systemic rise, investors still need psychological preparation for the revaluation of the index after weakening the positive stimulus effect. The short-term stress increase can be used as an optimization of the continuous structure and participation in the short wave band overfall rebound, but it is not recommended to blindly catch up." The above said. < /p >
< p > under this background, Guangzhou Bandung suggests that investors can focus on two clues. The first is in line with the reform and spanformation, the future direction of development, overfall and fall, < a href= "http://www.91se91.com/news/index_cj.asp" > funds > /a > reflect the performance of the stocks that are obviously intervened or short quilt, especially the stocks that the newspaper is expected to increase significantly. The performance share of the href= should be the key direction of the main layout in the second place, and the second is the M & a concept stocks that are in line with the reform and spanformation and have the intention of industrial capital operation. Since the beginning of the year, the number of mergers and acquisitions has increased significantly, and in 2014, it has no suspense. < /p >
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2014/6/10 14:47:00
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