Guo Shiliang: China's Stock Market Accelerates Manufacturing Speculation

Bear market share is patience. In the bull market, it is courage to fight. Obviously, in the current crazily rising market, investors who dare to buy hot weight stocks and leveraged funds can be lucrative. However, at the same time, in the current round of market, more than 80% of the shareholders are in the "earn the index can not earn money" situation. The "full warehouse" has become a popular phrase at the moment.

This Thursday, the stock market not only broke the previous black Thursday curse, but also appeared a rare trend of petrochemical double male trading. According to statistics, the stock market again showed a strong surge this week after the stock market rose 7.88% last week. As of Thursday's close, the stock market's weekly gain has exceeded 8%.

It is undeniable that the trend of the trading of Sinopec and Duong has further pushed the stock market to a climax, while A shares are only 100 points away from the 3000 high point.

However, in view of the trend of petrochemical trading, it is inevitable that the old shareholders are worried.

On the one hand, Sinopec as a sensitive breed in the past market, its rise often indicates that the market's strong surge is near the end. On the other hand, because of the huge market capitalization of the petrochemical double male market, the trend of its rise and fall can easily lead to a virtual inflation of the index. At this point, the market is worried about the big money to use Petrochemical double male to hide their escape plan.

Obviously, such worries are understandable. Because in the past two weeks, the A share market has risen more than 15%, and since the 2000 lows, the stock market has risen by more than 45%. However, behind such an alarming increase, there has been no obvious adjustment and concussion. This shows that the driving force behind the current rally is so strong.

So what is the driving force behind the soaring stock market in China?

In fact, the performance of the stock market has deviated from the fundamentals of the economy. In the process of soaring stock market, the volume of the stock market and the scale of the two financial markets have reached a record high.

According to the data, the total turnover of Shanghai and Shenzhen stock markets reached 914 billion 900 million yuan this Wednesday. And on Thursday, the total turnover of the two cities can still be maintained at more than 880 billion yuan. As for the scale of the two financial institutions, it has been rising at an accelerating level. Up to now, the A share market's two scale has exceeded 850 billion yuan.

Therefore, from the above data, we can find that the A share market is not short of money, but lack of investment confidence. Obviously, once the market's investment belief is restored, the stock market's earning effect is relatively prominent, it will trigger huge capital into the stock market.

It is worth mentioning that there is obvious difference between the A share market and the mature market abroad. Among them, the performance of the A share market mainly depends on the number of liquidity, and there is a certain deviation from the real economic fundamentals. However, as the stock market continues to surge, it will trigger all kinds of capital to enter the stock market, resulting in a sharp increase in the investment income of listed companies.

With the help of the stock market, Rising market Good at capital operation Listed companies can easily profit from it. Obviously, in China's immature market environment, it is better to rely on the bull market and increase the leverage of stock investment funds instead of doing a solid job in the industry. As a result, the net profit of the listed companies can grow, and the executives can also benefit indirectly.

The A share market is keen to hype up investment expectations. In the context of the surge in investment income of listed companies, it has undoubtedly created an excellent excuse for its hype. In the future, if the stock market returns to rationality, the decrease in investment returns of listed companies may become an excuse for their stock prices to fall.

You can think so. equity market It will have a great impact on the listed companies. At the same time, ordinary people can also benefit from it, and then they can promote consumption, stimulate production and improve the efficiency of the whole society.

Guo Shiliang believes that with the weakening of the marginal effect of investment promoting economic growth in the past, management has also paid more attention to the impact of stock market on economic development. Therefore, to boost the stock market is to save the Chinese economy. However, from the perspective of management, today's stock market is more like accelerating the manufacture of speculators, and the market's fanaticism is not what they expected. In this regard, they prefer to see that the stock market can get out of the slow bull market and gradually restore the stock market's investment and financing functions. Obviously, after this frenzied speculation, the stock market is expected to return to reason and bring sustained benefits to investors.