(Information source: Guotai An Market Global Financial Information Analysis System)
According to the information from Guotai's Global Financial Information Analysis System, the market has plummeted by nearly 300 points in just a few days since last Friday. This week, super large-cap stocks China Metallurgical (601618) went public, and the market plunged nearly 100 points that day; this Monday announced the approval of the Shanghai Pudong Development Bank (600000) for non-public issuance, the financial sector fell collectively that day; Guoyuan Securities (000728) Announced the refinancing plan, which led to a collective dive in securities stocks; this Wednesday coincided with the purchase date of the super large-cap stock China Travel, despite the favorable overnight US stocks rose, the stock index fell again 54 points.
Industry insiders have analyzed that the broader market has been falling again and again, precisely because of the pressure of recent expansion. In addition to the previous main board IPO and refinancing of listed companies, the listing of GEM has also been increased, which constitutes three major expansion pressures.
Although many investors are bearish on the recent market, "Shanghai Securities News" and Shiji Investment believe that there are still favorable factors.
First, as the broader market continues to decline, the overall market price-earnings ratio continues to decline, and individual stock valuations have gradually become cheaper. One of the most obvious phenomena is that the premium index of AH shares has narrowed to 111 points at the close of Wednesday, which is very different from the highest point of 149 points on July 14 this year, and even 9 A shares have been lower than H shares.
The second is that the surrounding stock markets have repeatedly made new highs recently, which has helped the A-share market to be positive. In particular, the recent continued improvement of Hong Kong stocks will undoubtedly have a great positive effect on the A-share market.
Third, the macro fundamentals continue to improve. It is not difficult to achieve the goal of achieving 8% of GDP this year. Since it is lower than 8% in the first half of the year, it will definitely exceed 8% in the third and fourth quarters.
Fourth, with the accelerated issuance of new funds, the stabilization of the broader market cannot be underestimated.
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