Second Half Of The Year Will Continue The Pattern Of Slow Cattle

Wang: in fact, many board weight stocks have entered the mid-term adjustment. We believe that the market sentiment is still positive. At the same time, with the growth of the growth enterprise board headed by the growth enterprise board, the negative pressure on the main board has been pferred.

We believe that the motherboard heavyweight will gradually gather popularity, out of the market expectations of the slow bull market.

As for the growth sector, we believe that the policy risk of sustained and rapid rise will gradually increase. Investors also need to pay attention to systemic risks in the process of enjoying the expansion of bubbles.

The factors that cause the continuous adjustment of the recent market are mainly summed up in two aspects: first, the early rising rate is too fast, and the rate of increase is relatively high.

We strengthened the regulation of financing leveraged funds, and began to speed up the issue of new shares since late 4. The IPO issue was changed from "one month batch" to "one month and two batch", which all showed the attitude of regulators that "intending to control the pace of A shares rising".

Weights and shares

Differentiation is the result of the comparison of the market in the industry, that is, the market is generally not expecting the start of the self cycle of the macroeconomic cycle. On the contrary, it has optimistic expectations for China's economic restructuring and related industrial reforms.

For the second half of the A share market, we believe that the abundant liquidity and A share market has entered a "positive cycle" so that the index still has the upward space, "bull" market is still on the way, and now it is too early to talk about the mid-term adjustment.

Huang Zizhang: for the second half of the A stock market, with the implementation of the economic reform policies and the support of monetary policy, such as reducing interest and reducing interest rates, the macro economy is expected to gradually increase steadily, which is the most important basis to support the medium and long term bull market.

In the short term, the stock market must continue to go upstream to digest the profit chips and raise the market position cost, so as to consolidate the foundation of the market.

The adjustment can be done in two ways, namely space or time, that is, a wide concussion in a short time or a long time shrinkage shock. It is expected that the second half of this year will show a trend of slow down after adjustment.

Index to a high level, whether from the fundamentals, capital or technical aspects, the stock index has the need for medium-term adjustment, but short-term adjustment does not change bull market judgment.