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Where Will Domino'S New Stock Go Next?

2014/7/9 9:19:00 15

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> the world's < a href= "http://www.91se91.com/" target= "_blank" > clothing < /a > a href= "http://www.91se91.com/" target= "http://www.91se91.com/" > shoes "< hat > net" Xiaobian to introduce the new shares of "Domino" to where the tide of trading or current change bureau.

the IPO has a significant impact on the recent market, and the related stocks such as new stock shadow shares, sub shares, gem and so on are all active again.

However, yesterday Eaton electronic disk opened up the daily limit, indicating that the new stock market tide or come to an end.

Similar to the previous "Domino" effect of the continued trading limit, the end of the new stock market will inevitably bring a series of chain reactions to the market.

analysts pointed out that there are three possible chain reactions: first, the value of new stocks such as shadow stocks and so on; the two is to increase the pressure of differentiation; three is to raise the relative concern of funds on old stocks.

But overall, after the initial "highlight" performance, the impact of IPO in the future will tend to weaken. Considering the positive changes in the fundamentals, the medium term strong market will continue.

limit plate opening market obvious fluctuation

There was a certain fluctuation in the operation of Shanghai and Shenzhen stock markets this Monday. the main board market first suppressed and then raised.

The new stock market is the most important factor in the market fluctuation.

the second batch of IPO in late June triggered a series of "Domino" effects in the market.

On the one hand, the shadow stocks and the new stock groups participating in the new shares are driven by the hot atmosphere of "beating the new" and "stir up new".

Since all new stock markets are showing a trend of continuous unlimited trading, the funds can not participate in the new stock market objectively, so they have to focus on the related topics of new shares, resulting in the obvious excess returns of the new stock shadow stocks since late June.

On the other hand, the gem has a "new" feature in terms of industry attributes and time to market. It is similar to the first batch of IPO at the beginning of this year. The gem has also been highly sought after by the fund, and the gem index has been probing 1428.67 points last week.

however, this hot new atmosphere has undergone significant changes yesterday.

As the first listing of new shares after the restart of IPO in late June, Eton electronics failed to continue the previous trend of "one word" trading yesterday.

Judging from the disk, although the stock opened yesterday to 32.26 yuan, but failed to achieve the same trading limit as before several days.

After opening, Eton electronics has sprung up a huge volume of selling, the lowest intruded to 29.36 yuan, while the market is still closed at the price of 32.30 yuan, but the "one word" limit has been broken.

with the opening of the limit plate in Eton electronic disk, the market also has more obvious fluctuations.

First of all, although other new shares continue to "one word" limit trip, yesterday, the volume of pactions has been significantly enlarged, indicating that chips are substantially loosening, and the time limit for ending the continuous trading is not expected to be long.

Secondly, capital flows rapidly from the shadow stocks of new shares, typical of Jingxing paper industry, which adjusted nearly 5% yesterday.

Finally, the GEM board plunged sharply, the gem index dropped 1381.94 points in the market on Monday, and also led to a significant adjustment in the main board market.

stir fry the new heat to cool down or cause the three effect /p >

as the main line of active a href= "http://www.91se91.com/news/index_cj.asp" > market < /a > since June, once the trend of new shares is established, the inflection point will undoubtedly bring a series of chain reactions to the overall market trend.

Overall, the end of the new stock trading show in the future may trigger the "Domino effect" of the market in three directions:

first, the shadow stocks of new shares are facing greater adjustment pressure.

The so-called new stock "shadow stock" mainly includes two types of stocks: first, the listed companies that share new shares, such as Jingxing paper industry, light textile city and other stocks, and two are sub stock groups, mainly including listed companies in the first quarter of this year.

Judging from the performance since late June, the above two types of new stock shadow stocks have achieved significant excess returns.

For example, Jingxing paper rose from 123.08% to July 1st in June 10th, and most of the new shares listed in the first quarter of this year hit a new stock price level.

However, after the above two types of shadow stocks, especially the listed companies participating in the IPO, have little basic support for their share price rise after excluding the impact of new shares on capital sentiment. With the end of the new stock market, such stocks will face short-term or greater pressure of return.

Second, the gem is faced with a split window.

Judging from the market performance in the first quarter, when the upsurge of the new shares is down, the focus of capital on GEM stocks will return to performance and valuation.

Driven by the new round of IPO, the TTM of GEM has generally recovered to a high level of more than 60 times, and the space for continued growth has been relatively limited.

At the same time, the disclosure of the China Daily News is beginning to take place. On the basis of a quarterly report lower than expected, the gem of this year's gem is expected to be still a lot.

Taking into account the above two factors, it is expected that the new stock market will face some adjustment pressure in the short run after the tide of new shares is closed.

However, considering that the pformation idea has been deeply rooted in the hearts of the people, and the involvement of capital in GEM stocks is very deep, it is hard to see that gem will continue to adjust.

Third, "old stocks" will be promoted or improved.

Of course, the negative effects of "Domino" are not always brought about by the enthusiasm of the new fry, and the positive effect is equally deserving of attention, which includes the improvement of the fund's attention to the "old stock".

After the continuous tide of trading, the valuation of many recent IPO has been higher than that of the same industry < a href= "http://www.91se91.com/news/index_s.asp" > stock < /a > average level. If the valuation of new shares does not show a marked decline, it is expected to form a boost to the "old stock".

In fact, from the performance of IPO in the first quarter, most of them still maintained a high volatility trend after the end of the continuous trading.

As a result, the possibility of new shares to boost the old stocks is still great.

At the same time, the recent excessive funds will focus on the new share plate, which is not conducive to the rebound of "old stocks" objectively, and the enthusiasm of new shares has gradually declined, and the potential of capital repatriation is very large.

disturbance tends to weaken A share pattern is good, /p >

it is noteworthy that yesterday, Eton electronics opened up the daily limit board, triggering more violent fluctuations in the market, revealing the unstable mood of funds.

After all, the stock market rebound since June depends largely on the drive of new enthusiasm.

Today, the tide of new shares may be ebbing, which will inevitably cause investors to worry about the future market.

In this regard, analysts believe that the ebb tide may have some adverse effects on the short-term trend of the market, but in the medium term, the foundation of the strong market structure will not be weakened.

on the one hand, the impact of new shares will gradually weaken.

The most important influencing factor of stock market operation is always expected. As the IPO's scale, rhythm and price earnings ratio have been generally stable, the future IPO's stimulation of market capital sentiment will gradually weaken unless the obvious changes occur. The impact of IPO on the market will tend to weaken in normalization.

On the other hand, after the weakening of the IPO disturbance, investors will pay more attention to other important factors that affect the operation of the stock market.

At present, these factors are experiencing more or less positive changes.

First of all, economic data in 5-6 months generally exceeded market expectations. With the sustained efforts of directional micro stimulus policies and steady recovery of the US and Japanese economy, China's economy is likely to grow steadily and steadily in the second half of this year.

Secondly, the recent Hang Seng AH share premium index continued to hit a new low, suggesting the current trend of investors in the peripheral stock market.

In the context of us and other external markets, A share investors' risk preference has at least strong support.

Finally, after passing the capital test in June, entering July, the possibility of liquidity easing is still very large. Considering the seasonal factors, there is a further downward trend in market interest rates.

This makes the A shares, which are now in the lowest historical valuation area, face certain upward momentum of repair.

overall, in the medium term, < a href= "http://www.91se91.com/news/index_cj.asp" > new shares < /a > is not the most important factor affecting market operation.

With the weakening of the new share effect, the positive change of fundamentals is expected to play a more important role in the operation of the stock market. This also means that the medium term market structure is still optimistic.