A Shares Break Small Step Forward Market Reshape Original Order

A shares become more cautious: 7, does the Lian Yang bubble rebound end?

Yesterday's A shares brought good news and bad news to investors.

The good news is that A shares have finally bid farewell to the sharp rise and fall. The bad news is that it has resumed the normal situation of half past two diving on time.

The second week of post disaster reconstruction.

Keep the "small step" forward state, the situation of Liu Lian Yang made the Shanghai Stock Index take 4100 points in 23 days, but when everyone thought that the A share would usher in seven even Yang, the market once again made fun of everyone. At 24 noon on the afternoon of half past two, the Shanghai stock index saw a sharp plunge and a drop of over 100 points when it came to the 4200 threshold.

The week that was going to rise was finally ended with a desperate ending.

Trading volume may be a glimpse of investors' mood.

From the perspective of volume, though A shares have rebounded after six days, trading volume has been lingering. On the contrary, trading volume has been enlarged compared with the previous few days after the Shanghai Stock Index dived.

Investors who have been seriously hurt have not yet recovered, and they are in doubt again. Will A shares rebound abruptly?

A shares "sister Lin" city confidence is fragile

In the second week after the reconstruction, A shares' glass heart 'characteristics still appeared.

In the first three trading days of this week, the Shanghai stock index used three degrees to test the 4100 integer pass.

But on Thursday, "legal smash day" rose sharply, but Friday's half - hour dive made investors panic.

The five trading day, the only similarity is the shock of the market to become normal, and with the emergence of the Shanghai Stock Index Liu Lian Yang, the game between the multi parties and the empty side is becoming increasingly fierce.

Investors seem to be on the way home.

According to the certificate company data, from July 21st to July 22nd, securities dealers

The balance has risen from about 1 trillion and 420 billion yuan in from July 15th to 16th to a level of about 1 trillion and 430 billion yuan.

As of July 22nd, the figure was 1 trillion and 436 billion 260 million yuan.

On the 4000 point, the "courage" of investors has increased again.

The reason behind this is undoubtedly a series of care by regulators.

It is reported that many people regard this wave of market as a rare investment window period in the second half of the year.

Due to the care of policy, the last one or two weeks may be the best opportunity in the second half of the year, and the risk return is better.

Indeed, Tencent securities statistics found that since this week, 50 stocks rose more than 50%, and last week this figure has also reached 52%, and since two weeks, more than 2000 stocks have risen every week, and the probability of buying down stocks is not high.

However, the rise of A shares has made some investors feel shy.

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The frequent turnover rate is obvious.

Flush data showed that the average daily turnover of 309 stocks exceeded 10% last week, while the figure reached 416 this week, compared with less than 300 in the first week of June.

This also means that with the rebound of the market, many investors choose to bag or run away.

But the rebound in the small break has not been able to keep up with it. Plus the diving this Friday, can A share rebound continue?

System risks no longer bear the knowledge of greed and fear.

Analysts believe that from the disk observation, the frequency and magnitude of oscillation in recent days is increasing, indicating that market divergence is increasing. However, today's diving will effectively release the risk of early accumulation, so that the market trend began to return to health and rationality.

After the stock market crash, with the resumption of trading stocks and resumption of inflation, the market will reshape the original order and produce huge differentiation. This differentiation can be used to filter out a large number of bad investment varieties, so as to avoid risks and increase profit probability.

It is worth noting that in July, the initial value of PMI in the manufacturing industry of new China fell unexpectedly to a 15 month low, which has cast a shadow on the Chinese economy in the second half of the year. Many investors are concerned that the market will continue to "explore the bottom two times". However, a private investment director believes that the market is still in the stage of overshoot and rebound.

Zhu Shaoping, an expert of Tencent Securities Research Institute, director of the Zhongguancun Institute of macroeconomics and intellectual property strategy, and former director of the Legislative Affairs Office of the NPC finance and Economic Commission, said that since the stock market crash, Shanghai stock index has stood at more than four thousand points for many consecutive trading days. Although it may also break four thousand, the process indicates at least three points. First, the government has made the best of the rescue efforts. Two, the management has agreed to the bottom of the four thousand point, and three is the confidence of investors is recovering.

Kai Shi Yi partners and chief strategist Chou Yanying also believes that after the release of the risk, A shares will no longer have systemic risk. Now it is at the foot of the mountain.

However, most ordinary investors have become cautious.

"I am greedy when others are afraid, and I am afraid when others are greedy". Everyone knows this common sense, but he can not really do it.

Chou Yanying said that when the market is good, it emphasizes growth, but at that time the valuation is also at a historical high point. We need to be vigilant. When the market is bad, investors can see the revaluation, which is probably the best buy point in the market.

From the perspective of industry allocation and business cycle, it will be profitable for a long time to invest below the average value of history.

They believe that investment needs to be cyclical, not because of short-term changes.

The KraneShares view is more long-term and more representative. It believes that China's stock market will continue to rise and will have a good performance in the future, given that China will continue to implement various policies to ensure economic growth.

At the present stage, China is concentrating on improving the global competitiveness of state-owned enterprises.

It has the potential to continue to perform well.