Click to view >>>Shanghai, Shenzhen and Hong Kong through the capital flows
As of October 17, more than 50 listed companies in Shanghai and Shenzhen stock markets have announced three quarterly reports. The third quarterly report shows the shareholdings of public and private offerings, QFIIs, social security funds and insurance funds. Statistics show that as of the end of the third quarter, a number of companies have become the objects of these institutions to get together, and even the top ten shareholders of circulation in the company are all institutions. China Securities Journal reporter found that the performance of the object get together, the performance of the institutions usually performed well, some institutions in the third quarter of blue-chip stocks is overweight.
Institutions get together
With the disclosure of the three quarterly reports of listed companies, the shareholding of institutional shareholders is revealing. According to the information disclosed in the three quarterly reports, at the end of the third quarter, a number of companies have become the objects of institutional shareholders.
To three trees, for example, the three quarterly shows that the company's top ten list of tradable shareholders are all occupied by the agency. Among the top ten tradable shareholders, there are Tianhong Yongding Value Growth Fund, Cathay Golden Eagle Growth Flexible Allocation Fund, Cathay Value Classic Flexible Allocation Fund, National Social Security Fund 112 Portfolio, New Energy Flexible Allocation Fund, Into the 16 Central Europe Lubrizol Securities Investment Collective, Huaxin Trust Shao Wu No. collection fund trust plan, Hua Zhizeng selection flexible allocation fund, Hua Baoli configuration securities investment funds, Huhong value growth private equity investment funds get together , The number of shares from 123.92 million to 438,300 shares ranging.
In the list of the top ten tradable shareholders of Kairun shares, the same is the body gathered. Social Security Fund 404 Portfolio, Social Security Fund 102 Portfolio, China Life Insurance Commission Penghua Fund Mixed Portfolio, Penghua Emerging Industry Mixed Fund, Zhongjiang International Trust Fund Trust Contract (Golden Lion 153), Penghua Pharmaceutical Technology Stock Type Fund, China Securities Gold Star No. 3 private placement funds, the South actively configure securities investment fund layout which, the number of shares from 408.68 million to 33.51 million shares range.
Big data terminal data show that the operating income of the three trees in the first three quarters increased 40.68%, attributable to shareholders of listed companies buckle non-net profit increased 141.83%; Kairun shares revenue grew 42.86%, attributable to shareholders of listed companies After deducting non-net profit increased 43.95%. In fact, according to the statistics of the three quarterly newspapers, the performance of the above-mentioned companies that have got together in many organizations showed good performance. Especially, compared with the information of the semi-annual report, many agencies reportedly increased their shareholding in the top 10 stocks or appeared in the top ten circulation of listed companies List of shareholders.
In addition to the shareholders of institutional shareholders, the shareholding of some "celebrity" institutional investors is even more arousing market concern. To social security funds, for example, as of October 17 release of the three quarterly companies, social security funds appear in China boulder, Samk tree, North New Building Materials, Wanhua Chemical, Kaiyun shares, Juhua Science and Technology, Fuling Electric and many other Listed companies in the top ten list of tradable shareholders. In addition, the Central Huijin and the Securities Company appeared in the list of the top 10 tradable shareholders at the end of the third quarter of Qilian Mountain, Commodity City, Jiangshan Share, Zhongyuan Special Steel, Qianshan Medicine Machinery and Anshun Trust.
In addition, the well-known private equity, Star Trust, QFII, north of the funds held by the same track with reference value. Access to information shows that the end of the third quarter, Pujiang Star 177 set of collective trust holds Ling Ling Steel shares 884.82 million shares outstanding; Pujiang Star 50 Trust Fund holds 561.36 million shares of outstanding shares; Sinoma III Quarterly Bulletin shows that China Foreign Economic and Trade Trust Co., Ltd. - a selection of freshwater springs holds 3.674 million shares of the company outstanding shares. QFII, Fuling Power in the top ten tradable shareholders, the Norwegian Central Bank - its own funds hold 1,547,900 shares, British Columbia Investment Management Corporation - own funds hold 1,231,600 shares; Tianshan shares three quarterly shows, Abu Dhabi Investment Authority holds 12,469,000 shares of the company.
Under the mechanism of mutual exchange between the two places, the capital northwards has become an important new blood in the A-share market. According to the information of the three quarterly reports, the Hong Kong Securities Clearing Company Limited appears in the list of the top ten tradable shareholders of many listed companies in Qibin Group, China Stone Company, Wanhua Chemical, Fusonmei and so on. Among them, Hong Kong Central Securities held 22,126,600 shares of the flag Bin Group, 55,945,000 shares of China Stone, 25,068,200 shares of Wanhua Chemical, Fusimei 15,580 shares. Observing the ownership of the underlying fund, the majority of its three quarterly results performed well, showing a keen sense of smell on the north.
The main fund dynamics >>>
Although yesterday Shanghai and Shenzhen stock indexes have finished lower and higher, but the north of the capital has not stopped the pace of the layout of A shares yesterday, the Shanghai Stock Connect, Shenzhen shares pass both to achieve a net inflow, the Shanghai stock net inflow of 364 million yuan, deep Net inflow of shares to 1.209 billion yuan, with a total amount of 1.573 billion yuan. It is noteworthy that the accumulated net inflow of funds to the north after the holiday amounted to 16.17 billion yuan.
In this regard, analysts pointed out that although the current market in the window period, the two cities can shrink again, the market sentiment is more cautious, but in the A-share internationalization continues to increase, the continued inflow of foreign capital, the market will be the core assets will be The continued support of external funds, and the steadily gaining access to post-holiday funds to the north, showing the A-share market for the fourth quarter or even longer optimistic about the focus of its layout should be closely watched.
From the active stock point of view, "Securities Daily" Market Research Center, according to statistics found that after the holiday a total of 42 stocks in Shanghai and Shenzhen stock exchange appeared on the Shanghai Stock Connect or Shenzhen Stock Connect daily top ten active stocks list, of which 33 Only a single unit to achieve a net inflow of funds north, a total net inflow of about 93.12 billion yuan of funds. Among them, the Shanghai Stock Connect, a total of 17 stocks after the holiday to achieve a net inflow of capital through Shanghai Stock Exchange, Qingdao Haier (880,166,300 yuan), China Merchants Bank (592,285,200 yuan), Industrial Bank (481,832,500 yuan), China Ping An Yuan) and ICBC (34962.54 ten thousand yuan) and other five stocks accumulated during the Shanghai Stock Connect net inflow of more than 300 million yuan; Shenzhen Stock Connect, the realization of the post-holiday net inflow of deep shares of the capital stocks a total of 16 net inflow The stocks with an amount of over 300 million yuan include Midea Group (1,076,609,600 yuan), Hikvision (987,311,500 yuan), Boss Electric (832,329,700 yuan), Ping An Bank (591,404,800 yuan), BYD (451,831,700 yuan) and Yang River shares (308711700 yuan).
As a matter of fact, the aforesaid 33 hot funds, which are favored by the north China funds, have also generally achieved better market performance in the near future. Among them, BOE A (16.14%), Hikvision (13.88%), Boss Appliances (12.09%), (8.32%), Sofia (8.12%), Shen Tian Ma A (7.73%), SAIC (6.03%), Midea Group (6.00%), Ping An of China (5.56%), Qingdao Haier (5.50% 5.42%), China Merchants Bank (5.17%) and Hengrui Medicine (5.12%) and other stocks during the cumulative increase of more than 5%.
It is noteworthy that the above 33 funds north of the favor stocks, Hikvision, the boss appliances, Kweichow Moutai, Midea Group, Qingdao Haier, Hengrui medicine, Wuliangye, ICBC, Yanghe, Yutong Bus 10 After the White Bulls holiday six trading days in stock prices hit a record high.
Among them, as the first high-priced stocks in Shanghai and Shenzhen Kweichow Moutai, the stock yesterday hit a new record high, up to 566.66 yuan on the probe, the total market value of over 700 billion yuan, up 0.82% yesterday, after the holiday rose 7.79% The latest close was 560.69 yuan. For the stock, although the stock this year, record highs, but the agency is still optimistic about the opportunities in Maotai, Guizhou, the agency forecast target price is also raised, of which, Guotai Junan said Moutai continued to improve the microstructure of Mupi, the stock continued upward momentum - To view the transaction Moutai stock price, raised its target price to 670 yuan (560 yuan last time), given "key recommendation" rating. China Merchants Securities believes that both Maotai Moutai growth rate of short-term reports, or the future sound development, are super market expectations. Looking forward to the coming year, there is still room for growth in shipments. Considering the successful experience in the short-term and price control of basic liquors, the price increase rate after the Spring Festival may be larger. The target price will be raised to 640 Yuan, corresponding to 27 times of 2018, Optimistic about the valuation of the three quarterly market to switch, reiterated "highly recommended -A" rating. (Source: Securities Daily)
For the fourth quarter, hand-held fund managers have what kind of expectations? What changes will happen to its investment strategy? Where are the future investment opportunities?
In the opinion of many public and private equity fund managers, the stock market is still the most attractive in terms of asset allocation. Commodity gains have been very impressive. Real estate prices are high sideways and account for a high proportion of residents' current allocation . From the configuration direction, the fund manager clearly bearish on cyclical stocks, big spending and big financial still two important investment mainline. Emerging technology industries have gradually become the new impetus to economic development, which also breeds huge investment opportunities.
No matter from domestic or global perspective, the future of new products, new technologies, new models will continue to emerge, the Fund focused on investment opportunities related to industrial upgrading and technology sector.
There are indications that the driving forces of China's economic growth are structural changes are beginning to gradually shift from investment-driven consumption-driven. Under this big logic, consumer upgrading has become the long-term strategic direction of institutional investors. For example, the performance of the secondary market this year, bling white wine, home appliances, dairy giant, condiments, etc., have become institutional investors get together. It is noteworthy that, in the current economic growth shift period, housing prices on consumer spending there is a clear "crowding-out effect." Restricted policy makes real estate sales and investment growth from the highest point down, but will help the future short-term residents of the wealth flow to the consumer.
However, in the first half of the consumer product industry, only household appliances and white wine actually performed well, with the rest of the sub-sectors performing poorly. In the eyes of Zhu Guoguang, director of China Equity Investment at Fullerton, many high-quality growth stocks already have good long-term investment valuations in the area of big spending. Zhu Guoqing said he is optimistic about the long-term investment opportunities brought by the aging population in the tourism industry and is also optimistic about the development prospect of some domestic consumer brands brought about by the mass consumption upgrade.
Liu Tianyun, general manager of Taifu Assets, said: "The demand for personalized products and the passive clearance of channels by a new generation of consumer groups will drive continuous consumption upgrades and optimistic about the consumption benefits of high-end liquor, duty-free shops, luxury cars and commercial real estate. Upgraded sectors and investment opportunities in emerging areas such as the technology Internet. "
"Whether consumer goods or services, with the steady increase of resident income level and constant technological innovation, the trend of consumption upgrading is sustainable and will be concentrated in the leading companies in food and beverage, medical and health, consumer electronics and other fields can Continue to tap into investment opportunities. "Wu Hao, manager of Prudential Prime Blue Chip Fund, said that the concept of value-added stocks will focus more on corporate governance, competitive advantages and alignment with the main line of consumption upgrading.
Investment director of a fund company in Shanghai frankly optimistic about the main logic of consumer stocks is the brand and channel strong, and jointly promote the company's market share increase, with economies of scale, and the ability to lower the price increases, even in the case of rising costs Still be able to maintain a steady increase in gross margin and net profit margin.
Invesco Great Wall investment research team also made it clear that in the fourth quarter continued optimistic about consumer upgrades and large consumer segments. The logic is that in the long run, China is accelerating its transition to a consumer-driven economy, benefiting from the transformation and upgrading of the domestic economy, the increase of disposable income of the population, and changes in population structure, and the willingness of residents to pay premiums for the brands Improve the performance of the plate for the consumption upgrade provides a support to promote the rise of domestic brands. Urbanization, to a certain extent, has also stimulated the upgrading of consumption and provided support for the prosperity of the consumer industry.
Beijing and Poly Investment believe that the new demand driven by the upgrading of consumption, including 5G, new energy vehicles, high-speed rail and other fields, the future needs of the industry chain related to explosive growth, such as ceramics, carbon fiber composite materials, signaling systems Wait. (Source: Investment Express)
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