The High Valuation Of Small And Medium-Sized Enterprises Has Always Been A Hidden Danger.

Judging from the amount of land in the last four trading days, the current market is in a narrow horizontal arrangement time, and the air trading is not active. It should be noted that the stock index's space is limited. Then, after the rapid release of short trading momentum in recent trading days, the stock index in the next week is actually a certain rebound power.

In the short term, we should focus on the support of Shanghai stock index at 2800 points.

In the background of continued decline in stock index, many funds, especially institutional funds, are actively seeking long-term investment value plates, and the sense of risk avoidance of funds has been greatly enhanced.

Therefore, the Shanghai stock index is a relatively safe area at the 2800 point and the first line. At this time, for the investors in the long and medium term, it is a better time to lower prices and make up the stocks, but not to hesitate because of panic.

Short line also has certain opportunities for upward movement. Of course, we should pay more attention to selecting more active varieties.

If the market continues to maintain a weak arrangement, then the defensive plate that underestimates the value will be one of the hedge funds for the medium and long term funds.

In addition, we should actively pay attention to low.

Defensive plates should be avoided at the same time.

Including some of the new high new shares, the callbacks of these stocks are still relatively large.

The high valuation of small and medium-sized enterprises has always been a hidden worry. Strong market funds will ignore the impact of valuation, but in a relatively weak market, the main funds often choose to underestimate the value of the varieties to protect the relative security of the principal.

And in the future, pensions, QFII, MSCI

Shanghai, Hong Kong and Hong Kong, as well as the upcoming Shenzhen Hong Kong Tong, as well as the discussion of the Shanghai link, are some value oriented institutional funds, so doing the long-term value investment will be the focus of these funds.

That is to say, the capital of market institutions will pay more attention to the rationality of valuation and the quality of the company itself, rather than focusing solely on growth expectations.

Therefore, in the later stage, it is expected that the valuation of the main board and small and medium sized enterprises will gradually converge to one. Under the background of the overall downturn of the market, it is more likely to aggravate the regression of convergence.