Shanghai indexToday's sweeping momentum, unilateral upwards throughout the day, closing up 2.17%, regaining the 2800-point integer mark, closing at 2874.42 points;GEMThe trend was even stronger, closing up 4.08%, regaining the 1600-point integer mark and closing at 1606.71 points, the biggest one-day gain in more than two years since May 31, 2016. The total turnover of the two cities was 343.1 billion yuan, and the industry sector rose across the board.
There is a cloud in the stock market - five poor six and seven turned over! In the upcoming June, A shares will be staged as scheduled, and the stocks will be in ruins. Looking forward to the July issue of “turning over”, the analysis believes that the A-share market has been fully adjusted for shocks this year. What is more important is that the current overall market valuation has returned to the bottom of history. It is expected to usher in the “turning over” in July. Quotes.
From the historical experience, July is also a high probability of rising. According to statistics, in the last 10 years of July,The Shanghai Composite IndexA total of 7 times, down 3 times, the rate of increase reached 70%. The highest increase occurred in 2009, and the cumulative increase in July of that year was as high as 15.3%. The biggest decline occurred in 2015, when it fell 14.34% in July. In July of the most recent year, the Shanghai Composite Index rose by 2.52%.
Haitong Securities Chief StrategyAnalystYan Yugen said that the weakening of A-shares since February has come from the face of funds and emotions rather than fundamentals. In terms of the number of net-breaking stocks, the number of A-shares in the second quarter of this year reached 278, a record high since 2005. Historically, the number of A-share net-breaking stocks in the bottom of the market has often increased dramatically. The overall valuation of the market has been lower than the 2638 points of the Shanghai Composite Index. The structural distribution is similar to the 1849 points in June 2013. The policy has fine-tuning conditions, and the market is expected to usher in a break-through opportunity.
The BOC Strategy Research Report believes that the current A-share valuation is already at the bottom of history, and it is necessary to watch the future. From the overall valuation of the market, the proportion of low-value stocks, the overall growth rate of the market, the proportion of high-growth stocks, etc., the current valuation of A-shares is the bottom level of history. The report said that valuation is the most important bottom, because emotions are changeable, and only value is eternal. Currently, the A-share valuation is already at the bottom of the history, and investors can enjoy watching the future.
It is worth mentioning that in addition to the obvious characteristics of the A-shares themselves, compared with the US stock market, the current valuation advantage of A-shares is beginning to show. Investment Strategy Zhang Xia Research reported that the valuation of the two companies has gradually converged by comparing the valuation of Sino-US stocks. Some of the A-shares are even lower than the US stock valuation.
Chen Guo, an strategist at Essence Securities, believes that with the marginal improvement of liquidity expectations and earnings of the GEM, and the promotion of the cost reduction and short-board policy, the GEM index is expected to lead the market. Chen Guo said that the GEM of the GEM is about 36 times, which is significantly lower than the historical median of 55 times. Compared with other major indexes, the relative valuation of the GEM is at a historical low.
Jiutai Fund pointed out that considering the current market environment, it is still more optimistic about the configuration value of consumer faucets. In the weak market context, its defense attributes and functions are more obvious. It is recommended to select the necessary consumption of medicines, food and beverages, and the industry's fundamentals beyond expectations. It is more optimistic about second-line medicines and second-line food and beverages, and air conditioners. In addition, from the perspective of valuation and profit matching, the value of bank allocation is emerging.
|Fund code||Fund abbreviation||Nearly a week||Handling fee||operating|
|160420||Huaan GEM 50 Index Classification||2.66%||1.20% 0.12%||buy Account opening|
|005390||ICBC GEM ETF Connection A||1.42%||1.00% 0.10%||buy Account opening|
|002656||Southern GEM ETF Connection A||1.42%||1.20% 0.12%||buy Account opening|
|161613||Rongtong GEM Index A||1.37%||1.20% 0.12%||buy Account opening|
|Fund code||Fund abbreviation||Income in the past two years||Handling fee||operating|
|110003||E Fund SSE 50 Index A||39.91%||1.50% 0.15%||buy Account opening|
|310398||Shen Wanling letter Shanghai and Shenzhen 300 value index||35.03%||1.20% 0.12%||buy Account opening|
|519671||Galaxy Shanghai and Shenzhen 300 value||34.46%||1.20% 0.12%||buy Account opening|
|000311||Invesco Great Wall Shanghai and Shenzhen 300 enhanced||31.44%||1.20% 0.12%||buy Account opening|