H-Share AH Premium Index

The current rally, which started at the end of July, was driven by the rise of blue chips, and the reason was that the Shanghai and Hong Kong links continued to advance.

The A share index in the plate is much lower than that in H shares, so there is a consensus.

However, the market share of A shares in recent years has not been much better than before. Even though most of the bank stocks have fallen below the net asset value, the reports such as QFII's "coming in to sweep the goods" and the national team's "running in" are often seen under the media's "push" and are not able to recover.

Observe the Hang Seng that reflects the spread of AH in two places.

The trend of premium index, when A shares started strong in July 22nd, the index plummeted continuously, and hit a new low of 88.72 in July 24th. After that, it has been lingering low for nearly a month. It broke through the line on Monday and ended up at 95.74.

It may be possible to get such an impression from such a trend that Hong Kong stocks are much more sensitive to the same information than A shares, while A shares have risen, but

Therefore, the intensity of news rises is greater, resulting in the gap between the two places is not far away.

The difference between investment culture in Shanghai and Hong Kong is very obvious. What we used to talk about is that the Hong Kong stock basically ranked the stock price by performance. It can have hundreds of thousands of high priced stocks, and there are only 1 cents share in the stock market. The arrangement of the A share price can not be separated from the "Zhuang Zeling" pattern. The blue chip stocks are not to be seen. Even the financial stocks of the "modern economic core" have traded under the net asset value for several years.

The author has always felt that these enterprises rely on administrative power to monopolize resources. They also feel that they are not very good. They feel that the managers of these enterprises are serious in administration and lack of real market experience. Once they really go to the sea of the market, there is indeed possibility of drowning.

But in the current system, there seems to be a bit of a worry about the risk of explosion.

You know, once the system is changed, its power is unexpectedly strong.

Therefore, although the author believes that A shares regard these large cap stocks as blue chips is a misunderstanding (blue chips are still in the growth stage of blue chip stocks), but the long-term downturn of blue chip stocks is not considered appropriate.

Only the market is the market, and the investment culture of A shares determines that the market mainly relies on storytelling and speculation.

The theme of all information is the main practice of the market. Once the subject is left, the trend of individual stocks will often be in a state of tortoise.