Downward Pressure Has Not Yet Eased The Stock Index Upward.

January 1, coincided with the new year's festival, the National Bureau of statistics and China Federation of logistics and purchasing jointly released the December China Manufacturing Purchasing Managers Index (PMI) data. Data show that manufacturing PMI in December last year was 50.1%, down 0.2 percentage points, the lowest in nearly 18 months. And a day ago, HSBC announced the final value of China's Manufacturing Purchasing Managers Index (PMI) in December, 49.6, a 7 month low. The two data show that the pressure on China's short-term downward pressure has not eased.

In contrast, the Shanghai Composite Index closed at 3234.68 last December 31st. The Shanghai Composite Index has risen 1118.70 points, or up to 52.87%, and the A share market has become the world's largest stock market last year. Because of this, during the new year's day this year, when people talked about A shares, they were basically optimistic about the stock market in 2015. Less, it will rise to 3500 points, 3600 points, many bullish to 6000 points or even higher.

After years of oppression in the A share market, investors do need a bull market. So the emergence of the bull market can be seen everywhere. However, in the face of the trend of "economic indicators downward and stock market index upward", investors should not be blindly optimistic. Especially in the face of the current frenzy of the stock market. bull market Investors need to maintain a sense of rationality.

In fact, the divergence trend of "economic indicators downward and stock index upward" itself means that the bull market trend of the current stock market can not be supported by macroeconomic fundamentals. As we all know, the stock market is a barometer of the national economy. Since it is a barometer, the trend of the stock market should reflect the trend of the national economy. Now the trend of the two deviates from each other, which in itself has become an uncertain factor in the stock market. Although it is impossible to exclude the possibility of the bull market in the downward economic situation, it needs to be built on the premise that the internal factors of the stock market are excellent. But at present, the A stock market itself has not solved any historical problems. Instead, some problems that hurt investors' interests are becoming more and more serious, which is also difficult to support the stock market.

Of course, at present. equity market Walking cattle can be understood as a policy city needs. It is precisely because of the downward trend of economic indicators that the slow growth of the economy has become a new normal for China's economy. This makes it more necessary for the stock market to make more contributions to China's economic growth, especially to make contributions to the reform of state-owned enterprises that will be fully opened. For example, when the price of state owned shares is too low or even below the net asset value per share, the reform of state-owned enterprises, especially the "mixed reform", can easily lead to the loss of state assets. Therefore, it is necessary for the stock market to push up the share price of the state-owned enterprises and not to let the low share prices of the state-owned enterprises hamper the reform process of the state-owned enterprises. However, judging from the hype of state-owned shares in the previous stock market, this goal has been realized, and the share price of state-owned enterprises has basically recovered the net asset value per share. In the A+ H share price, the A share price is basically a premium across the H-share market. This means that the power of large state-owned shares to rise sharply is weakening.

What's more Listed company The money is increasing. Although in 2014, the SFC issued strict checks on the number of IPO issued, but after entering 2015, the speed of IPO will inevitably be increased. It is especially important that the refinancing with private placement as the main body intensified the blood drawing to the stock market in 2014.