A Shares Still Can Not Go Out Of The Adjustment Market.

In the first three quarters of this year, the three emerging markets in Argentina, Brazil and Russia were the most promising stock markets. In addition to the strong US stock market, the emerging market stock markets such as Argentina, Brazil and Russia were also bullish and occupied the top three in the first three quarters of this year. Unfortunately, China's A shares still failed to get out of the adjustment market.

On Thursday, Argentina's stock market hit a new high. Argentina's MERV index reached a peak of 16939 points.

Since the financial crisis, Argentina's economy has been sluggish and inflation is serious. It is amazing that the stock market in Argentina has been rising for five years, and the annual increase is amazing. Even the big brother and the US stock market are all sighing.

This year (as of Thursday's closing date), Argentina's stock market has risen 43.41%, ranking the highest in the world's stock market.

Argentina's neighbor, Brazil stock market, is catching up and has risen 34.6% this year.

Brazil's economy is still on the decline, and this year's Olympics are a bit shabby, but the IMF expects Brazil's economy to grow again next year.

The sanctions in Europe and the United States and the long slump in oil prices have brought the Russian economy to a serious downturn. The Russian stock market has also fallen for many years. In 2014, it fell 45.83%, but this year it finally felt shame and then bravely, and its total rose 32.06%.

U.S.A

The Dow Jones index has risen 4.12% this year, and it has not been listed in the global stock market growth charts.

But it has been in the bull market since 2009, and has been rising for seven or eight years. In the past two years, it has continued to record a new high, and the NASDAQ index has set a new record last week.

This year's stock market is also good in Vietnam, Indonesia, Hungary, New Zealand, Thailand, Luxemburg, Canada and other countries.

Not a few.

By yesterday's closing, the gem index, the SME board index, Shenzhen stock index and Shanghai Composite Index fell 20.79%, 19.18%, 16.56% and 15.1% respectively, accounting for four seats in the top five seats of the index decline.

Fortunately, this time the bottom of the Italy stock market.

Italy's stock market has fallen 22.64% this year.

In the past more than 10 years, Italy has always been the most depressed economy in the euro area.

Yesterday, the Shanghai composite index continued to pull up at 3000 points. This is already the third consecutive trading days of the two sides competing for 3000 points, and the 112 billion 700 million yuan turnover in Shanghai stock market has reached a new low of nearly 9 months.

"The decline since June last year is too destructive, especially in terms of margin trading.

At the peak of last year, margin was close to 2 trillion and 300 billion, only about 880000000000 now.

This means that the margin market has lost about 1 trillion and 500 billion of its capital.

On the one hand, A shares are constantly deleveraging, and capital is running out.

On the one hand, the real estate market is showing a crazily situation, and leveraged funds continue to hit a record high.

It can be said that the huge money making effect of the real estate market has attracted huge amounts of capital and the structure of funds has been completely unbalanced.

In addition, Ren Chengde believes that the A share market itself also has bigger problems, such as the lack of long-term investment funds in the market, mainly based on short-term funds and speculative capital. In addition, the regulation of all aspects of the market has become stricter this year.

In fact, since April 22nd, the A share market funds have continued to flow through the Hong Kong stock market to the Hong Kong stock market, and in the middle of September, there has been a continuous outflow of funds through Shanghai Stock Exchange.

In this way, the A share market has experienced an awkward situation of falling down and rising, forming a balanced market.

But at the same time, the European and American stock market has some troubles, such as the US general election, the Federal Reserve raising interest rate, and the recent deutsche bank crisis. A shares are also in a state of fear.

"For A share market investors, first of all, we should reduce revenue expectations, appropriately configure some blue chips that underestimate the value and high dividends. On the other hand, we should select small and medium value market subject stocks and focus on stocks with outstanding growth, low valuation and good industry prospects, especially those with PEG index (relative profit growth ratio) less than 1."

Ren Chengde said.