Stock market is Yan Xiaoning's talk show people, . 11 consecutive trading days, the maximum drop of more than 20%, in accordance with the Because the central stock market turmoil has not changed, or the stock index to 3,000 points plus or minus 15-20% fluctuations in the central axis,cheap UGG boots, but due to drop too fast, and in the early 3478 stock index has generated near the high psychological fear of the stock market regardless of side from the capital or fundamentals, years are difficult to generate enough optimism to overcome the psychological fear.
point forecast the stock market is not important, because the forecast error correction should be prepared, the key is to grasp reasonable valuation range, and were to make adjustments. People often will distinguish between the valuation and liquidity,UGG shoes, it seems reasonable does not contain a liquidity premium valuation or devaluation, this is a misunderstanding. We report on Golden State Securities Institute the second half of the stock market's main stock index is defined as a reasonable valuation range of 2700-3300 points, but does not rule out the surface and the capital side because of emotional reasons, the stock market's main stock index volatility range will be extended to 2500-3500 points.
year China's stock market interpretation of a credit more than 15,304 million, in July sudden drop to 3,599 billion, a decline of more than 77%. one of the main fiscal policy and monetary policy,UGG boots clearance, lack of coordination, not a sudden shift of monetary policy. counter-cyclical monetary policy adjustment mechanism, but the implementation of fiscal policy is still using the annual budget allocated by quarter or half year, so January and July each year the amount allocated less in June and December have to attack the task. in supporting the financial allocation mechanism mm banking, financial credit allocation as one of the levers, leading to June tread the Financial allocation led to over-lending,bailey UGG boots, the financial allocation to zero in July, leading to sharp decline in credit in July. which is expected in December will be the 8-credit increased month by month, even if half of the second half of the credit 3.7 trillion, the annual total amount of credit will be over 11 trillion.
said why the stock market is poor money? is because the market value is the first time induced non-tradable stock market crash this one of the reasons. shares of such nature, is like free. to the end of this year, the total market value of market capitalization will reach 3 / 4, assuming stock index rebounded during the year from 2800 to 3500 points, the index rose 700 points is only +25%, but market capitalization is almost double to nearly 18 trillion. So I say: the second half of the stock market . be long-term holding, we can not use this as a prerequisite for further reasoning. The key is that liquidity supply and demand and the relationship between the level of stock prices and a new proposition: proportion of shares in circulation increased significantly under the conditions of the stock market valuation levels will fall?
China A shares / H share price of course there are many obvious reasons for the differences, at least one reason is the difference between the proportion of tradable shares is limited mmA flow of stock market, H shares are tradable market, and limited circulation higher than the stock market valuation of tradable stock market, which seems to be no dispute. It follows, in less than 5 months, A stock market capitalization increased from the current 50% to 74% again, the overall valuation will therefore fall. This is a valuation of liquidity problems because of low flow rate in the stock, the price of shares outstanding due to the ban of non-tradable shares and relatively high. conclusion is: the second half of the money supply and credit running will slow down, a moderately easy monetary policy unchanged, the stock market is awash in liquidity will not change the tone, but with the pressure. If the listed company's overall performance did not significantly improve, the stock market during the year are less likely to be high.
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