The stock index swept away today, unilaterally up throughout the day, closed up 2.17%, recovered 2800 points integer mark, closed at 2847.42 points; GEM refers to a more fierce trend, closed up 4.08%, recovered 1600 points integer mark, closed at 1606.71 points, The largest one-day gain in more than two years since May 31, 2016. The total transaction volume of the two cities was 343.1 billion yuan, and the industry sector was all online.
There are clouds in the stock market – Five Po, Six, Seven, and Seven! In the past June, A-shares will stage a "six-premature" market "as scheduled" and the stocks will be in a mess. Looking forward to the "turnover" in July, the analysis believes that since the A-share market shock adjustment this year is very full, it is more important that the current market valuation level has once again returned to the bottom of history, July is expected to usher in "turn over" as scheduled. Quotes.
Judging from historical experience, the probability of a rise in July is also high. According to statistics, in July of the last 10 years, the Shanghai Composite Index rose 7 times and fell 3 times, with an increase rate of 70%. The highest increase occurred in 2009, and the cumulative increase in July of that year was as high as 15.3%. The largest decline occurred in 2015, when the cumulative decline in July of 14.44%. In July of the most recent year, the Shanghai Composite Index rose 2.52%.
Shi Yugen, chief strategy analyst at Haitong Securities, said that A-shares weakness since February has come from funding and sentiment rather than fundamentals. Looking at the number of broken 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-shares in the bottom area of the market has often increased sharply. The overall market valuation has been lower than the Shanghai Composite Index's 2638 points. Its structural distribution is similar to that of 1849 in June 2013. The policy has fine-tuning conditions and the market is expected to usher in an opportunity period that will be overwhelming.
The BOC Strategic Research Report believes that the valuation of the current A-shares is already at the bottom of history and it is a good time to watch the future. From the perspective of the overall market valuation, the proportion of stocks with low valuations, the overall growth of the market, and the proportion of high-growth stocks, the valuation of current A-shares is the historical bottom level. The report said that the bottom of valuation is the most important bottom, because emotions are changeable, and only value is eternal. At present, the valuation of A shares is already at the bottom of 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 A-share valuation advantage has begun to show. Investment Strategy Zhang Xia Research reported that by comparing the valuations of Sino-US stocks, it was found that the valuation levels of the two companies have gradually converged, and the A-shares sector is even lower than the US stock valuation.
Chen Guo, a strategic analyst at Essence Securities, believes that the GEM Index is expected to lead the market with the marginal improvement in liquidity expectations and GEM earnings, and the advancement of cost reduction and short-cutting policies. Chen Guo stated that the PE of the GEB is about 36 times, which is obviously lower than the 55 times of the historical median. Compared with other major indexes, the relative valuation of the GEM is at historically low level.
Nine Thai Fund pointed out that taking into account the current market environment, is still more optimistic about the value of the configuration of the consumer leader, in the context of the weak market, its defense properties and functions is more obvious. The focus is on essential consumption such as pharmaceuticals, food and beverages, and optional consumption where the industry's fundamentals exceed expectations. It is more optimistic about second-line medicine and second-line food and beverages and air-conditioning. In addition, the value of bank allocations is emerging in terms of valuation and profit matching.
|Fund code||Fund abbreviation||Nearly a week||Fees||operating|
|160420||Huaan GEM 50 Index Classification||2.66%||1.20% 0.12%||buy Open an account to buy|
|005390||ICBC GEM ETF A||1.42%||1.00% 0.10%||buy Open an account to buy|
|002656||Southern GEM ETF Link A||1.42%||1.20% 0.12%||buy Open an account to buy|
|161613||Financing GEM Index A||1.37%||1.20% 0.12%||buy Open an account to buy|
Shanghai Stock Index Fund
|Fund code||Fund abbreviation||Nearly two years of revenue||Fees||operating|
|110003||Yi Fangda Shanghai 50 Index A||39.91%||1.50% 0.15%||buy Open an account to buy|
|310398||SWS CSI 300 Value Index||35.03%||1.20% 0.12%||buy Open an account to buy|
|519671||Galaxy Hushen 300 Value||34.46%||1.20% 0.12%||buy Open an account to buy|
|000311||Invesco Great Wall CSI 300 Enhanced||31.44%||1.20% 0.12%||buy Open an account to buy|