Investor Enthusiasm Increases, New Fund Accounts Open To New Heights.

At the beginning of September, Xinhua News Agency issued a number of articles to keep up with the stock market. A spokesman for the securities and Futures Commission also stated that "the current stock market has laid a good foundation for reform". Strong public opinion has stimulated the market to do more enthusiasm, and the market has been rising continuously. At the same time, the fund position has also risen significantly.

The Bohai securities fund position monitoring model showed that the average stock position of 532 partial equity open-ended funds included in the statistical range in September 5th was 86.85%, an increase of 3.17 percentage points compared with 83.68% in the previous week.

Among them, the average position of equity funds is 90.40%, an increase of 3.15 percentage points over the previous week, a mixed fund of 79.95% and an increase of 3.19 percentage points.

The data of the Desheng fund research center also showed that the position of the fund has increased significantly. The average weighted average position of the active equity fund is 85.90%, which is 0.96 percentage points higher than the previous week. From the perspective of the specific fund, the larger margin is mostly the active style and flexible growth style fund.

The stock market has always been a popular legend: when the average position of equity funds in the public offering fund reaches 88%, the market will fall, which is called the "88 curse" of the fund and has been repeated many times.

At present, the monitoring data of a number of third party organizations show that the average position of the stock base is close to or even more than 88%. Indeed, the curse is reproduced.

After the Mid Autumn Festival,

The end of the continuous resumption of Yang, showing a high pullback trend, stock index back to the 2300 point near the narrow shocks.

Some analysts have pointed out that market sentiment is generally optimistic, and public fund positions are generally at a high level of neutral. This factor has a negative impact on the market.

This is because the wheel is pushing.

The most direct reason for the rise is not a strong economic growth nor a major good policy. It is the result of the stock market downturn after many years of outbursts, which has led to a large influx of funds, pushing the stock market further higher.

The analysis points out that the market is still in the stage of bull market formation, often accompanied by adjustment and adjustment. Investors should anticipate the possible moderate callbacks and seize valuable entry opportunities.

Reporters noted that

Public funds have changed.

According to statistics, at the beginning of September, the fund showed a trend of opening up in the petroleum, petrochemical and non-ferrous metal sectors, indicating that the focus of the fund began to shift to the concept of state-owned enterprise reform; the weaker cyclical sectors such as pportation, food and beverage were greatly reduced by the fund, indicating that the fund began to enhance the flexibility of the shareholding portfolio.

Zhou Zhichao, the fund manager of Da Mo Huaxin theme, pointed out to reporters that in recent months, the resonance of several favorable factors has raised investor sentiment and triggered a sharp rebound in the market. Whether the market can continue to improve in the short term depends to a large extent on whether this hyperactive market sentiment can be maintained.

"The mood is changeable, and the mood brought about by high inflation may be beyond imagination. The mood driven market has tremendous explosive force, but it is likely to be unsustainable."

Zhou Zhichao said that the short-term support for the market is mainly due to the anticipation of reform. With the deepening and implementation of the reform policy, the market will follow the policy path, explore various investment themes and themes, and drive market sentiment to generate structural opportunities and partial quotas.

At present, economic fundamentals and market capital do not support a strong market.