Water: The Market Is Always In Despair.

The mood is understandable. At least for now, there is considerable uncertainty in the macroeconomic trend, stock market policy and stock risk.

The macroeconomic trend is unsatisfactory, and the official PMI value has fallen below 50 of the ups and downs. Although this indicator has been running below 50 in terms of HSBC, HSBC reflects the expectations of the SME owners, while Chinese officials are more likely to be judged by the leaders of the state-owned enterprises, especially the central enterprises. The official PMI has not been so low in the past two years, indicating that the pace of GDP growth has not changed or even worsened.

If we objectively analyze the factors of China's rapid economic growth in the past, we will have a positive evaluation of the pillar role of the real estate industry. Fortunately, as premier, Li Keqiang made a positive response to the real estate industry for the first time when he answered reporters' questions in Davos. He expressed some expectations for the real estate industry in the process of urbanization in China. The heads of the seven ministries and commissions of the Central Committee of the Central Committee also concentrated on their support. The pessimism of the real estate market has changed. This may mean that the power of investment can be restored to some extent in the macro economy, and the performance of the land production sector will be unexpected.

It is not uncomprehensible. From the current data, the proportion of the financing disk reaches 30%, which is also slightly higher than the 20%-25% of the mature market abroad. However, the problem is not as serious as imagined. The results of the first batch of securities dealers also show that the effect is limited, and the second batch of brokerages is smaller. Although the SFC has repeatedly indicated that the market can not be overly interpreted, the CIRC and the CBRC have shown strong sense of responsibility and enthusiasm at the same time. It is also extremely sensitive to the financing of the industry. Whether it is trust insurance or bank loans, the signal to the market is the concentration of management. This impression may not be objective, but subjectively, it is routine. Why not in the bear market? The perturbed trend of stock market policy is reflected in the inventory of two issues. The "two melt" loose environment that emerged from the bear market has become the focus of management attention after the stock market has skyrocketed.

In fact, if it is really a blow, we should not worry. The real market has never been eliminated by policy pressure. Where there is oppression, there is resistance, the greater the blow, the stronger the rebound.

The perturbed risk is reflected in the trend of the leading financial stocks.

One of the leading companies is insurance, two of which is insurance, three of which are banks, and the adjustment of brokerages is the first occurrence of the "two fusion" policy. CITIC is the first to bear the brunt. The superposition effect of large shareholder reduction is most obvious. The leader in the leading plate is beheaded by direction, but this does not affect the logical judgement of the rise of brokerages. And the market worry triggered by the strong and fierce performance of Ampang's brand of the Minsheng Bank has strung up the bitter fruit of the two big plates of insurance and banks, like a grasshopper on a rope.

A lot of people do not understand the behavior of Ampang, all kinds of doubts are always heard, and the media seem to be targeted. In fact, it is not important for the bond arrangement, the investment quota and whether the supervision is reasonable or not. The important thing is whether the money is clean. The innocence refers to the insurance fee. The registered capital of Ampang is expanded from 10 billion to 60 billion.

Anbang crazy overweight investment is quite smart investment decisions, and the livelihood of the Phoenix plan to lay a solid foundation for its next development, China life is also increasing the people's livelihood is a good proof that Mao Xiaofeng was taken by the Central Commission for Discipline Inspection is entirely a personal factor, is the result of the strong anti-corruption of the Chinese Communist Party; however, personal events have been linked to the beginning of financial anti-corruption. The financial sector has become the target of political attack. It is difficult to predict the consequences of the financial sector. The directors of the Bank of Beijing also happen to be in trouble. As for the Minsheng Bank's plot, it is a bit of a dog's blood. As a private bank, people's livelihood is an ideal target.

The market is always in despair, and develops in hesitation, and dies in joy. Now we just come out of despair. We are still in a state of hesitation. The market is still developing. In this case, let's go all the way.

The plan can not catch up with the changes. The central bank has announced that the central bank has announced a reduction in the amount of money that has been written.